TOKYO: Japanese technology giant SoftBank has committed billions of dollars to bailing out office-space sharing startup WeWork in a daring vote of confidence from its intrepid founder Masayoshi Son. WeWork’s woes are substantial enough that some analysts say they could derail the investment ambitions of SoftBank’s mammoth Vision Fund. But, as one of the most…
OSLO: The value of Norway’s sovereign wealth fund, the world’s largest, grew to a record 10 trillion Norwegian crowns ($1.09 trillion) on Friday, boosted by rising global stocks and the strength of the euro and dollar.The fund reached the milestone as its government regulators grapple with strategy changes, including how to handle climate risk and…
OSLO: The value of Norway’s sovereign wealth fund, the world’s largest, grew to a record 10 trillion Norwegian crowns ($1.09 trillion) on Friday, boosted by rising global stocks and the strength of the euro and dollar.The fund reached the milestone as its government regulators grapple with strategy changes, including how to handle climate risk and…
WASHINGTON: Twitter shares plunged on Thursday after reporting glitches that impacted its ad-targeting ability, pulling down revenue growth in the past quarter. Profit for the third quarter was $37 million, a sharp drop from last year when the online messaging platform was helped by a large tax benefit. Revenue rose 9 percent from a year…
WASHINGTON: Twitter shares plunged on Thursday after reporting glitches that impacted its ad-targeting ability, pulling down revenue growth in the past quarter. Profit for the third quarter was $37 million, a sharp drop from last year when the online messaging platform was helped by a large tax benefit. Revenue rose 9 percent from a year…
TOKYO: Dozens of Saudi and Japanese businessmen met at the 18th Japan-Saudi Arabia Business Council in Tokyo on Thursday to discuss standing and new investment opportunities. The conference, attended by representatives from the Japanese External Exchange Organization, Ministry of Trade and several top businesses, as well as the Saudi Arabian General Investment Authority, saw presentations…
Minister confident of progress in ties as Saudi-Japan Business Forum kicks off in Tokyo The bilateral economic and commercial ties and agreements between Saudi Arabia and Japan are progressing well, Saudi economy and planning minister Mohammed Al-Tuweijiri said on Wednesday. Tuwaijri was speaking at the Saudi-Japan Vision Business Forum taking place in Tokyo. He said…
Most Gulf stock markets moved marginally amid falling oil prices on Wednesday, while Egypt’s blue-chip index declined, led by property shares. DUBAI: Oil prices slipped toward $59 a barrel on data showing a bigger-than-expected rise in US crude stocks, while the prospect of deeper output cuts by the Organization of the Petroleum Exporting Countries (OPEC)…
Most Gulf stock markets moved marginally amid falling oil prices on Wednesday, while Egypt’s blue-chip index declined, led by property shares. DUBAI: Oil prices slipped toward $59 a barrel on data showing a bigger-than-expected rise in US crude stocks, while the prospect of deeper output cuts by the Organization of the Petroleum Exporting Countries (OPEC)…
DUBAI: Oman is considering setting up a new regional airline that could take over domestic operations from state carrier Oman Air, two sources familiar with the matter told Reuters. A request for proposal was issued this month by state entity Oman Aviation Group for a feasibility study into operating the new airline, “Oman Link,” the…
DUBAI: Oman is considering setting up a new regional airline that could take over domestic operations from state carrier Oman Air, two sources familiar with the matter told Reuters. A request for proposal was issued this month by state entity Oman Aviation Group for a feasibility study into operating the new airline, “Oman Link,” the…
ABIDJAN: Ivory Coast announced Tuesday that Arab investors had pledged $5 billion to support its program to attract foreign tourists to the West African nation.The tourism ministry said “a round table of investors in Dubai” on Sunday and Monday expressed interest In Ivory Coast and in total, the minister for tourism and leisure, Siandou Fofana,…
SOFIA: Bulgaria has promised to complete its stretch of the TurkStream gas pipeline by 2020 as planned, Russian Foreign Minister Sergei Lavrov said on Monday, trying to tackle skepticism about the timescale of the project. Last month Bulgaria signed a €1.1 billion ($1.2 billion) contract with Saudi-led group Arkad to build the 474 km pipeline…
TOKYO: Japan’s exports contracted for a 10th straight month in September, adding to speculation the central bank could ease monetary policy as soon as next week to support an economy hit by a slowdown in global demand.A bitter Sino-US trade war and slowing growth in China have heightened the risks of a global recession, darkening…
TOKYO: Japan’s exports contracted for a 10th straight month in September, adding to speculation the central bank could ease monetary policy as soon as next week to support an economy hit by a slowdown in global demand.A bitter Sino-US trade war and slowing growth in China have heightened the risks of a global recession, darkening…
DUBAI: Crowds gathered at different locations in the UAE on Sunday night to mark its one-year countdown to Expo 2020 in October next year, with host emirates Dubai staging a spectacular concert, topped by a light projection on the iconic Burj Khalifa. American superstar Mariah Carey was the star of the night, which also saw…
DUBAI: Crowds gathered at different locations in the UAE on Sunday night to mark its one-year countdown to Expo 2020 in October next year, with host emirates Dubai staging a spectacular concert, topped by a light projection on the iconic Burj Khalifa. American superstar Mariah Carey was the star of the night, which also saw…
DUBAI: The seven emirates of the UAE is counting down to the Expo 2020 on Sunday with a number of simultaneous entertainment events across the country’s iconic landmarks, before it buckles down to business on Oct. 20 next year. The event started with performances from Arab artists Khalifa, Shamma Hamdan, Abri and Funk Radius, Showcase and…
DUBAI: John Pagano has been involved in mega-projects around the world, but “none of them will have the impact this will have on Saudi Arabia,” he said. “This” is the Red Sea Development Company, of which he is CEO. Along with the plan to build a futuristic metropolis at NEOM in the northwest of the…
WASHINGTON: The world’s finance leaders agree that growth has slowed, but they remain hopeful for a modest rebound next year as long as trade and geopolitical tensions do not worsen. That was the assessment from finance ministers and central bank governors of the Group of 20 major industrial countries. Those officials met ahead of discussions…
