MUMBAI: The Reserve Bank of India kept its key lending rate on hold in a surprise decision on Thursday, despite a worrying slowdown in the country that prompted the central bank to sharply reduce its economic growth forecast to 5 percent for the year through March. The six-member monetary policy committee (MPC) unanimously voted to…
SHANGHAI: Capital investment by Chinese firms has ground to its slowest pace in three years, as a weakening economy, tight credit and prolonged trade war with the US dent sales growth and cash reserves, a Reuters analysis showed. Companies are also spending more days to turn inventory into sales and eking out smaller profit gains,…
HONG KONG: Hong Kong’s government pledged HK$4 billion ($511 million) on Wednesday in new relief measures to help bolster an economy battered by months of protests that have eroded business confidence in the Asian financial hub. The latest boost brings the government’s total pledged amount of relief to HK$25 billion. It remains to be seen…
LONDON: British gold miner Centamin has rejected a £1.47 billion ($1.89 billion) all-stock takeover proposal from Canada’s Endeavour Mining Corp, saying it did not offer enough value to Centamin shareholders. Toronto-listed Endeavour announced its plan earlier in the day, seeking to gain control of Centamin’s only operating mine, the Sukari project in Egypt. The Canadian firm…
LONDON: President Donald Trump said that a trade agreement with China might have to wait until after the US presidential election in November 2020, denting hopes of a resolution soon to a dispute that has weighed on the world economy. “I have no deadline, no,” Trump told reporters in London, where he was due to attend…
LONDON: Question: How do you predict the outcome of a snap election when so many polls have been so wrong, half of voters haven’t made up their minds and the crucial factor may not be who wins, but how much they win by? Answer: Unclear. So financial investors, who could make or lose fortunes on the…
PARIS: French Finance minister Bruno Le Maire said Tuesday that Paris would ensure a “strong” response in the event of US tariffs as an Internet-inspired tax and trade conflict heated up.Le Maire told Radio Classique that threatened US tariffs on French goods such as sparkling wine, yogurt and Roquefort cheese were “inacceptable” and warned Washington…
MOSCOW: Russia and China on Monday launched a giant gas pipeline linking the countries for the first time, one of three major projects aimed at cementing Moscow’s role as the world’s top gas exporter. Presiding by video linkup over an elaborate televised ceremony, Russian leader Vladimir Putin and Chinese counterpart Xi Jinping hailed the “Power of…
MOSCOW: Russia and China on Monday launched a giant gas pipeline linking the countries for the first time, one of three major projects aimed at cementing Moscow’s role as the world’s top gas exporter. Presiding by video linkup over an elaborate televised ceremony, Russian leader Vladimir Putin and Chinese counterpart Xi Jinping hailed the “Power of…
DUBAI: Saudi Arabia’s Tadawul has introduced an equity index cap of 15 percent which is set to address concerns over the weighting oil giant Saudi Aramco will have when it lists on the exchange.State-owned oil firm Aramco is expected to list 1.5 percent of its shares this month in a deal which could raise more…
Turkish economy returns to growth in the third quarter Turkey’s economy grew 0.9 percent year-on-year in the third quarter As the economy has recovered, inflation tumbled to single digits in October due to base effects Updated 6 min 46 sec ago Reuters December 02, 2019 07:26 ISTANBUL: Turkey’s economy grew 0.9 percent year-on-year in the…
DUBAI: Saudi Arabia’s Tadawul has introduced an equity index cap of 15 percent which is set to address concerns over the weighting oil giant Saudi Aramco will have when it lists on the exchange.State-owned oil firm Aramco is expected to list 1.5 percent of its shares this month in a deal which could raise more…
You cannot publish everything Anthony Scaramucci tells you. I’ve had conversations with him several times on recent visits to the Middle East where he has offered views — for example, on the state of health of the president of the US — that would not make it into a family newspaper on grounds of taste,…
You cannot publish everything Anthony Scaramucci tells you. I’ve had conversations with him several times on recent visits to the Middle East where he has offered views — for example, on the state of health of the president of the US — that would not make it into a family newspaper on grounds of taste,…
ROME: Efforts to save loss-making Alitalia have reached an impasse after months of unsuccessful negotiations with potential buyers, leaving Italy’s government undecided on the next move.The struggling carrier, which has been under special administration since 2017 and continues to burn through cash, is now at a standstill after a consortium of potential buyers failed to…
DUBAI: Ratings firm has Moody’s has affirmed the Baa1 ratings of state-owned firms Dubai Electricity & Water Authority (DEWA) and DP World but revised their outlook to negative from stable. “The rating action reflects the credit linkages between [the companies] and the government of Dubai. Moody’s expects a growing risk of structurally slower real GDP…
TOKYO: Japan’s government is considering putting together a large-scale economic stimulus package with fiscal spending exceeding $92 billion, the Nikkei newspaper said, as soft global demand and the US-China trade war dampen the country’s fragile recovery.Adding strain to Japan’s tattered finances, the government will issue more bonds to fund public works spending of up to…
BENGALURU: Oil prices will remain subdued in 2020 as growth concerns weigh on demand and fuel a glut of crude, a Reuters poll showed on Friday ahead of production-policy talks among OPEC and its allies next week. The poll of 42 economists and analysts forecast Brent to average $62.50 a barrel next year, little changed from…
Hong Kong Airlines delays salaries as protests hit tourism /node/1591216/business-economy Updated 29 November 2019 November 29, 2019 07:46 Hong Kong Airlines delays salaries as protests hit tourism Nearly six months of protests in the international finance hub have dealt its tourism sector a massive blow Cathay Pacific has also had a torrid year, hit by…
MUMBAI: The owners of Premier League champions Manchester City have agreed to buy 65 percent of Indian soccer team Mumbai City FC, expanding their global stable of clubs to eight in countries from China to Japan to the US. The City Football Group (CFG) announced the deal just a day after it agreed to sell…
