WASHINGTON: In trying to hammer out a trade agreement with China, the Trump administration may be drawing inspiration from classic rock, specifically The Who’s anthem “Won’t Get Fooled Again.”Fed up with China for breaking past promises, the administration is insisting on provisions designed to force the Chinese to live up to any commitments they make…
DUBAI: The Middle East’s biggest airline, Emirates, said on Thursday that profits were down almost 70% in the past fiscal year, reaching lows of $237 million, compared to last year’s whopping $762 million. The Dubai-based airline’s parent company Emirates Group also posted lower profits at $631 million, down 44% from last year. Despite the dip…
DUBAI: The Middle East’s biggest airline, Emirates, said on Thursday that profits were down almost 70% in the past fiscal year, reaching lows of $237 million, compared to last year’s whopping $762 million. The Dubai-based airline’s parent company Emirates Group also posted lower profits at $631 million, down 44% from last year. Despite the dip…
NEW YORK: Thousands of Uber and Lyft drivers turned off their apps in a US-wide strike Wednesday over pay and working conditions, casting a shadow over this week’s keenly anticipated Wall Street debut of ride-hailing leader Uber.Uber is expected to launch its initial public offering (IPO) on Friday giving it an estimated valuation of some…
DUBAI: A number of start-ups in the Middle East are being bought up by global giants, and while some might fear the loss of a home-grown identity, experts say the deals are recognition that local companies know their markets best. It all started in 2009 with Yahoo!’s acquisition of Jordanian company Maktoob.com. The Amman-based online…
DUBAI: A number of start-ups in the Middle East are being bought up by global giants, and while some might fear the loss of a home-grown identity, experts say the deals are recognition that local companies know their markets best. It all started in 2009 with Yahoo!’s acquisition of Jordanian company Maktoob.com. The Amman-based online…
PARIS: The head of the International Monetary Fund said Tuesday that fresh trade tensions between the United States and China were the main threat to the world economy.“Clearly the tensions between the United States and China are the threat for the world economy,” Christine Lagarde told journalists at a conference in Paris, adding that recent…
DUBAI: A number of start-ups in the Middle East are being bought up by global giants, and while some might fear the loss of a home-grown identity, experts say the deals are recognition that local companies know their markets best. It all started in 2009 with Yahoo!’s acquisition of Jordanian company Maktoob.com. The Amman-based online…
BAGHDAD: Iraq is close to signing a $53 billion, 30-year energy agreement with Exxon Mobil and PetroChina, Prime Minister Adel Abdul Mahdi said on Tuesday, denying any link between the mega-project and US permission for Iraq to do business with Iran.Iraq expects to make $400 billion over the 30 years the deal will be in…
PARIS: The head of the International Monetary Fund said Tuesday that fresh trade tensions between the United States and China were the main threat to the world economy.“Clearly the tensions between the United States and China are the threat for the world economy,” Christine Lagarde told journalists at a conference in Paris, adding that recent…
HOUSTON: US refiners have turned to several lesser-used oil suppliers in the wake of US sanctions that restricted usual providers of widely-used grades as they gear up for peak driving season.Iraq, Nigeria, Brazil and Angola combined this month are set to deliver their most crude oil to the United States in more than 18 months,…
BEIRUT: The Beirut Stock Exchange suspended trading on Monday due to the open strike declared by employees of Lebanon’s central bank. Hundreds of Lebanese public employees are on strike amid concerns that their salaries and benefits might be cut as the government discusses an austerity budget. A statement posted on the stock market’s website Monday…
HOUSTON: US refiners have turned to several lesser-used oil suppliers in the wake of US sanctions that restricted usual providers of widely-used grades as they gear up for peak driving season.Iraq, Nigeria, Brazil and Angola combined this month are set to deliver their most crude oil to the United States in more than 18 months,…
LONDON: Emaar Properties, the developer of the world’s tallest tower, on Sunday reported a rise in profits as sales grew by more than 50 percent despite a tough real estate market. The Dubai-listed company said it made 1.742 billion dirhams ($474 million) in the first quarter, compared with 1.625 billion dirhams a year earlier, marking…
DUBAI: Saudi Arabia’s non-oil private sector growth remained steady — though unchanged — in April, but strong demand and increased business confidence did not translate into job creation, a monthly survey of companies showed on Sunday. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) remained unchanged month on month at 56.8 in…
DUBAI: Saudi Arabia’s non-oil private sector growth remained steady — though unchanged — in April, but strong demand and increased business confidence did not translate into job creation, a monthly survey of companies showed on Sunday. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) remained unchanged month on month at 56.8 in…
Almarai’s head of investor relations breaking workplace gender boundaries in Saudi Arabia RIYADH: For Maria Al-Zahrani, living and working in Saudi Arabia is not only a career opportunity, but also a “mission.”The daughter of a Saudi father and an American mother, she felt the pull of the Kingdom from an early age, and after her father’s…
WASHINGTON:- US trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 and other electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans.According to documents filed by the US Trade Representative’s office (USTR) and reviewed by…
WASHINGTON:- US trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 and other electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans.According to documents filed by the US Trade Representative’s office (USTR) and reviewed by…
LONDON: Iranian oil exports will slide in May as the United States tightens the screws on Tehran’s main source of income, industry sources said, deepening global supply losses caused by US sanctions on Venezuela and OPEC-led cuts.The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran…
