LONDON: Global advertising spending is expected to grow 4.6 percent in 2019, a dip from previous estimates, with Internet advertising expected to slow to single digits in 2021 for first since the dotcom bubble burst, industry forecaster Zenith said. Zenith, owned by French advertising group Publicis , said in a report published on Monday that internet…
LIBREVILLE: Tropical timber is piling up at Gabon's main port as the country's logging industry reels from a corruption scandal that brought down the vice president and ushered in a veteran environmentalist to oversee its forestry.Wood is big money in the central African nation, which is almost 80 percent covered by forests. The timber industry accounts…
NEW YORK: Cruise, a US self-driving vehicle company majority-owned by General Motors Co, told Reuters that a US national security panel approved a $2.25 billion investment in the firm by Japan’s SoftBank Corp.SoftBank has come under increasing US scrutiny over its ties to Chinese firms in the face of an escalating trade and technology war…
NIAMEY: African leaders met on Sunday to launch a continental free-trade zone that if successful would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development.After four years of talks, an agreement to form a 55-nation trade bloc was reached in March, paving the way for Sunday's African…
LONDON: OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to US sanctions and other outages elsewhere in the group, a Reuters survey found. OPEC pumped 29.60 million barrels per day (bpd) last month, the survey showed, down…
LONDON: OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to US sanctions and other outages elsewhere in the group, a Reuters survey found. OPEC pumped 29.60 million barrels per day (bpd) last month, the survey showed, down…
SEOUL: Calls in South Korea for a boycott of Japanese goods in response to Tokyo’s curbs on the export of high-tech material to South Korea picked up on Friday, as a dispute over compensation for forced wartime labor roiled ties between the US allies. It is the latest flashpoint in a relationship long overshadowed by…
LONDON: Senior Arab officials and organizations met with their UK counterparts at a summit in London on Wednesday to discuss investment and bilateral opportunities, as the country prepares to leave the EU.“Britain is on the verge of a crucial turning point in its relationships with the rest of the world,” said Arab League Secretary-General Ahmed…
LONDON: Senior Arab officials and organizations met with their UK counterparts at a summit in London on Wednesday to discuss investment and bilateral opportunities, as the country prepares to leave the EU.“Britain is on the verge of a crucial turning point in its relationships with the rest of the world,” said Arab League Secretary-General Ahmed…
LONDON: Brent oil ticked higher on Friday, supported by tensions over Iran and the decision by OPEC and its allies to extend a supply cut deal until next year, while US benchmark crude prices fell on weak economic indicators.Brent was up 53 cents at $63.83 per barrel by 1330 GMT. US West Texas Intermediate (WTI)…
DUBAI: Etihad Rail, the developer and operator of the United Arab Emirates’ national rail network, is expected to approach banks for about $2 billion to help finance the expansion of the network, banking sources familiar with the matter said. The UAE, which launched the first phase of its rail project in 2016, plans to have a…
SYDNEY: Oil prices fell more than 0.5 percent on Thursday, weighed down by data showing a smaller-than-expected decline in US crude stockpiles and worries about the global economy.Front-month Brent crude futures, the international benchmark for oil prices, were down 1 percent at $63.21 per barrel by 0538 GMT. Brent closed up 2.3 percent on Wednesday.US…
ISLAMABAD: The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan on Wednesday to rein in mounting debts and stave off a looming balance of payments crisis, in exchange for tough austerity measures.Board approval will allow immediate disbursement of around $1 billion, with the remainder to be phased in over…
Hong Kong regulator bans former Goldman banker Tim Leissner for life over 1MDB scandal HONG KONG: Hong Kong’s financial regulator has banned former Goldman Sachs banker Tim Leissner from re-entering the industry for life for his crimes linked to the multi-billion-dollar scandal at the Malaysian state investment fund 1MDB.The sanction is latest for Leissner who…
Hong Kong regulator bans former Goldman banker Tim Leissner for life over 1MDB scandal HONG KONG: Hong Kong’s financial regulator has banned former Goldman Sachs banker Tim Leissner from re-entering the industry for life for his crimes linked to the multi-billion-dollar scandal at the Malaysian state investment fund 1MDB.The sanction is latest for Leissner who…
WASHINGTON: A senior US official told the Commerce Department’s enforcement staff this week that China’s Huawei should still be treated as blacklisted, days after US President Donald Trump sowed confusion with a vow to ease a ban on sales to the firm.Trump surprised markets on Saturday by promising Chinese President Xi Jinping on the sidelines…
DUBAI: The UAE will allow up to 100 percent foreign ownership of some companies operating in 13 sectors, including manufacturing, agriculture, and renewable energy, state news agency WAM reported on Tuesday.The UAE cabinet has approved 122 economic activities across 13 sectors eligible for up to 100% foreign ownership, WAM said. It did not say when…
DUBAI: The UAE will allow up to 100 percent foreign ownership of some companies operating in 13 sectors, including manufacturing, agriculture, and renewable energy, state news agency WAM reported on Tuesday.The UAE cabinet has approved 122 economic activities across 13 sectors eligible for up to 100% foreign ownership, WAM said. It did not say when…
DUBAI: The UAE will allow up to 100 percent foreign ownership of some companies operating in 13 sectors, including manufacturing, agriculture, and renewable energy, state news agency WAM reported on Tuesday.The UAE cabinet has approved 122 economic activities across 13 sectors eligible for up to 100% foreign ownership, WAM said. It did not say when…
DUBAI: Members of the Organization of the Petroleum Exporting Countries (OPEC) should have unity among themselves, Iran’s Oil Minister Bijan Zanganeh was quoted as saying on Monday, adding that Tehran backed cooperation with non-OPEC oil exporter states.“Without unity among members of OPEC, it is meaningless to plan cooperation between OPEC and non-OPEC countries,” Zanganeh said…
