BERLIN: German Chancellor Angela Merkel has fended off growing calls for more fiscal stimulus by citing the slow outflow of existing federal funds — but data suggests the money is indeed being used up as local authority bottlenecks gradually clear. With Europe’s largest economy on the brink of recession and borrowing costs at record lows,…
Alongside politics and religion, there is one other dinner party subject virtually guaranteed to push people to opposing extremes: Smoking. In much of the world — especially the West but increasingly in the Middle East and other emerging markets — tobacco has been marginalized to the point where smokers feel shunned and lonely in many…
INTERVIEW: Philip Morris International mideast chief on using hi-tech to progress toward a smoke-free future Alongside politics and religion, there is one other dinner party subject virtually guaranteed to push people to opposing extremes: Smoking. In much of the world — especially the West but increasingly in the Middle East and other emerging markets —…
INTERVIEW: Philip Morris International mideast chief on using hi-tech to progress toward a smoke-free future Alongside politics and religion, there is one other dinner party subject virtually guaranteed to push people to opposing extremes: Smoking. In much of the world — especially the West but increasingly in the Middle East and other emerging markets —…
NEW DELHI: India’s Reliance Industries’ deal to sell a 20 percent stake in its oil to chemicals business to Saudi Aramco will reap major dividends for both companies, analysts said. Under the terms of the non-binding deal announced earlier this week, the conglomerate will get roughly $15 billion for the 20 percent stake, money that…
SINGAPORE: While in the Indian Ocean heading toward the Strait of Malacca, the very large crude carrier (VLCC) Pacific Bravo went dark on June 5, shutting off the transponder that signals its position and direction to other ships, ship-tracking data showed. A US government official had warned ports in Asia not to allow the ship…
CHONGQING: A year and a half ago, Chongqing Iron and Steel Corp. (CISC), China’s oldest steelmaker, was rescued from the brink of bankruptcy in a deal hailed as a shining example of how struggling state companies can be revamped. Today it is profitable and earned 616 million yuan ($87.51 million) in net income in the…
COPENHAGEN: A.P. Moller-Maersk warned a trade war between the US and China could curb container traffic this year after the world’s largest container shipping company beat second-quarter profit expectations. Maersk said the escalating trade dispute between Washington and Beijing could limit growth in global container traffic to the lower end of its 1 to 3…
TOKYO: Crude oil prices rose more than 1 percent on Friday following two days of declines, buoyed after data showing an increase in retail sales in the United States helped dampen concerns about a recession in the world’s biggest economy.Brent crude was up 68 cents, or 1.2 percent, at $58.91 a barrel at 0650 GMT,…
TOKYO: Crude oil prices rose more than 1 percent on Friday following two days of declines, buoyed after data showing an increase in retail sales in the United States helped dampen concerns about a recession in the world’s biggest economy.Brent crude was up 68 cents, or 1.2 percent, at $58.91 a barrel at 0650 GMT,…
HONG KONG: Standard Chartered is targeting growing its private banking assets by half to about $100 billion in three to five years, whilst hiring dozens of bankers in Hong Kong and Singapore to do so, a senior executive at the lender has said. The moves show StanChart has big growth ambitions for the private banking…
Prosecutors add fraud charges to former Barclays executives accused in Qatar case LONDON: Three former top Barclays executives due to stand trial over the bank’s deals with Qatari investors during the financial crisis are to face additional fraud charges. Bloomberg reported that the UK’s Serious Fraud Office has included charges of actual fraud to the existing…
Prosecutors add fraud charges to former Barclays executives accused in Qatar case LONDON: Three former top Barclays executives due to stand trial over the bank’s deals with Qatari investors during the financial crisis are to face additional fraud charges. Bloomberg reported that the UK’s Serious Fraud Office has included charges of actual fraud to the existing…
LONDON: Oil prices dropped on Tuesday after see-sawing throughout the session as lingering concerns over global demand and rising US output offset expectations for major producers to further curtail supply. Brent crude futures were down 45 cents, or 0.7 percent, from the previous settlement at $58.12 a barrel in London afternoon trade. The international benchmarkhas…
BENGALURU: Gold hit a more than six-year high on Tuesday as unrest in Hong Kong and a rout in the Argentine peso drove investors already spooked by the US-China trade war into havens such as bullion at the expense of riskier assets such as stocks.Spot gold was up 1 percent at $1,525.99 per ounce hit…
BENGALURU: Gold hit a more than six-year high on Tuesday as unrest in Hong Kong and a rout in the Argentine peso drove investors already spooked by the US-China trade war into havens such as bullion at the expense of riskier assets such as stocks.Spot gold was up 1 percent at $1,525.99 per ounce hit…
DUBAI: Saudi Aramco proved itself the most profitable company in history on Monday with financial figures that beat all its competitors by a long way. The Kingdom’s oil giant reported net income of $46.9 billion for the first half of 2019, way ahead of the $31.5 billion reported by the next biggest earner, Apple. Aramco’s…
DUBAI: Saudi Aramco proved itself the most profitable company in history on Monday with financial figures that beat all its competitors by a long way. The Kingdom’s oil giant reported net income of $46.9 billion for the first half of 2019, way ahead of the $31.5 billion reported by the next biggest earner, Apple. Aramco’s…
DUBAI: Saudi Aramco proved itself the most profitable company in history on Monday with financial figures that beat all its competitors by a long way. The Kingdom’s oil giant reported net income of $46.9 billion for the first half of 2019, way ahead of the $31.5 billion reported by the next biggest earner, Apple. Aramco’s…
NEW YORK: Nandita Iyer landed in New York from Bombay without knowing anyone, but she did not want to live alone in a “sketchy studio.” So instead she opted for a room in a “co-living” unit.She lives with roommates in one of the 14 apartments in a small building run by the housing startup Quarters…
