Hong Kong demonstrations hit the tourist economy /node/1538911/business-economy Updated 12 August 2019 August 12, 2019 00:30 Hong Kong demonstrations hit the tourist economy A Hong Kong Tourism Board spokesperson said the number of forward bookings in August and September has “dropped significantly,” suggesting the economic toll will linger throughout the summer season Updated 12 August…
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…
BEIJING: Japan’s economy grew much faster than expected in April-June to mark the third straight quarter of expansion, as robust private consumption and business investment offset the hit to exports from cooling global demand. The data offers some relief for the Bank of Japan, which is under pressure to follow other central banks and ramp up…
BASRA, Iraq: Iraq is close to reaching a deal with oil majors BP and Eni for an export pipeline project that was initially planned as part of a mega-deal with US energy giant ExxonMobil, according to five senior Iraqi oil officials involved in the negotiations.Under the proposed $400 million agreement, British company BP and Italy’s…
BEIJING: Japan’s economy grew much faster than expected in April-June to mark the third straight quarter of expansion, as robust private consumption and business investment offset the hit to exports from cooling global demand. The data offers some relief for the Bank of Japan, which is under pressure to follow other central banks and ramp up…
Samsung’s new Galaxy Note takes on Huawei in selfie beauty pageant With emphasis on improved video and photography features, Samsung hopes the Note 10 will appeal to YouTubers and fans of social media The Note 10 will be sold starting at $949.99 while the bigger Note 10 plus will start at $1,099 Updated 08 August…
CAIRO: Egypt’s annual urban consumer price inflation decreased to 8.7 percent in July from 9.4 percent in June, official statistics agency CAPMAS said on Thursday, its lowest in nearly four years.Egypt is approaching the end of an IMF-backed economic reform program, which included steep subsidy cuts and a currency devaluation and saw inflation rise to…
TOKYO: Japan’s SoftBank Group Corp. raked in a better-than-expected quarterly operating profit as it saw a leap in investing gains from its $100 billion Vision Fund. The group’s results have been increasingly volatile as founder and CEO Masayoshi Son shifts focus from the predictable income of telecoms in favor of bets, through its mega-fund, on…
LONDON: Thousands of British Airways passengers had to endure cancelations, delays and long queues at airports as the airline suffered its third major computer failure in a little more than two years.Wednesday’s woes are the latest in a string of problems at BA, which was fined $230 million last month for a huge customer data…
LONDON: Stock markets turned higher on Tuesday as China stabilized its currency after allowing it to depreciate against the dollar in response to US President Donald Trump’s decision to put more tariffs on Chinese goods. The more buoyant tone follows a big sell-off Monday, when stocks were hammered after the Chinese government allowed its currency…
LONDON: Stock markets turned higher on Tuesday as China stabilized its currency after allowing it to depreciate against the dollar in response to US President Donald Trump’s decision to put more tariffs on Chinese goods. The more buoyant tone follows a big sell-off Monday, when stocks were hammered after the Chinese government allowed its currency…
TOKYO: Tokyo stocks fell for a third consecutive session Tuesday in volatile trade, plunging nearly three percent at one point over US-China trade war worries but paring losses later in the session. The Nikkei 225 index lost 0.65 percent, or 134.98 points, to close at 20,585.31 while the broader Topix index was down 0.44 percent,…
FRANKFURT: Industrial orders in Germany rebounded strongly in June, official data showed on Tuesday, although the relief for the troubled manufacturing sector came mainly from a few large contracts. Producer firms reported 2.5 percent more orders month-on-month, after a 2 percent fall in May, federal statistics authority Destatis said in figures adjusted for seasonal and calendar…
MONTREAL: Canadian manufacturing group Bombardier announced on Monday it had signed a multi-billion dollar agreement to build two automated monorail lines in Egypt’s notoriously congested capital Cairo. The $4.5 billion (4 billion euro) agreement, which was signed with Egypt’s National Authority for Tunnels, is subject to “final signatures of supplementary documents,” Bombadier and its Egyptian…
TOKYO: Japan and the US have agreed to target a broad deal on bilateral trade by September, seeking to bridge differences of opinion over tariffs on beef and the automobile sector, the Nikkei business daily reported on Sunday. As part of a drive to rectify what he claims are unfair global trade imbalances, US President…
LONDON: Bank HSBC on Monday announced the surprise departure of CEO John Flint after just 18 months, saying new leadership was needed amid increasing economic uncertainty, and that it was cutting some 4,000 jobs to reduce costs.London-based HSBC Holdings said Flint stepped down by mutual agreement. Noel Quinn, the chief executive of global commercial banking,…
LONDON: Bank HSBC on Monday announced the surprise departure of CEO John Flint after just 18 months, saying new leadership was needed amid increasing economic uncertainty, and that it was cutting some 4,000 jobs to reduce costs.London-based HSBC Holdings said Flint stepped down by mutual agreement. Noel Quinn, the chief executive of global commercial banking,…
YANGON: Once a seat of kings, the city of Mandalay in northern Myanmar has seen turbulent chapters in its 162-year history — the fall of Burma’s last royal dynasty and decades of colonial rule. Now, officials are attempting to transform the former royal capital into Myanmar’s first “smart city.” In a country where officials still largely…
INTERVIEW: For Genesis exec Altar Yilmaz, Mideast is the region to develop a true luxury brand The speedometer was touching 120 km per hour on Sheikh Zayed Road, and I sat behind the wheel of a gutsy Genesis G70 sports sedan owned by Altar Yilmaz. “This is the best car I’ve ever driven,” he said.…
The speedometer was touching 120 km per hour on Sheikh Zayed Road, and I sat behind the wheel of a gutsy Genesis G70 sports sedan owned by Altar Yilmaz. “This is the best car I’ve ever driven,” he said. After a career with some of the best-known motor brands in the world, that was quite…
