BRUSSELS: Inflation in the eurozone slowed in March, data showed on Monday, amid worries that the European economy is cooling as the effects of Brexit finally take a toll.The slowdown of inflation comes as signs are multiplying of slower economic growth, especially in powerhouse Germany and the bloc’s second-biggest economy, France.The rise in consumer prices…
DUBAI: The World Bank has downgraded on Monday its growth outlook for the Philippines this year and 2019, but remained positive despite internal and external factors that could affect economic expansion. “Amidst lingering global and local uncertainties, the Philippine economy is poised to grow at 6.4 percent in 2019 and 6.5 percent in 2020 and…
DUBAI: The World Bank has downgraded on Monday its growth outlook for the Philippines this year and 2019, but remained positive despite internal and external factors that could affect economic expansion. “Amidst lingering global and local uncertainties, the Philippine economy is poised to grow at 6.4 percent in 2019 and 6.5 percent in 2020 and…
TOKYO: Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.Brent crude for June delivery was up by 43 cents, or 0.6 percent, at $68.01 a barrel by 0214 GMT,…
HONG KONG: From smog breaks to pollution bonuses, Asia’s businesses are promising increasingly inventive perks in a desperate bid to lure executives to a region where toxic air engulfs major cities for much of the year.Health concerns are putting off those initially attracted by Asia’s growing economic opportunities, experts warn, so firms are struggling to…
HONG KONG: From smog breaks to pollution bonuses, Asia’s businesses are promising increasingly inventive perks in a desperate bid to lure executives to a region where toxic air engulfs major cities for much of the year.Health concerns are putting off those initially attracted by Asia’s growing economic opportunities, experts warn, so firms are struggling to…
CAIRO: Egypt will keep 95-octane petrol at 7.75 Egyptian pounds ($0.4485) per liter through the second quarter of 2019 as it links the cost to international fuel prices for the first time, the petroleum ministry said in a statement.Egypt had committed to the indexation mechanism as part of reforms tied to a $12 billion International…
DUBAI: The United Arab Emirates’ economy grew by around 1.7 percent in 2018, slower than projected despite a boost from higher oil prices, official preliminary data showed.The UAE growth figures follow Dubai’s disclosure last week that its economy grew by 1.94 percent in 2018, its slowest pace since a contraction in 2009 when the economy…
DUBAI: Saudi Arabia’s economy grew in the fourth quarter of last year at its fastest rate since early 2016 due to an expansion in the oil sector, while non-oil growth was sluggish, statistics agency data showed on Sunday.Fourth-quarter gross domestic product grew by 3.59 percent from a year earlier. In the third quarter, annual growth…
HONG KONG: From smog breaks to pollution bonuses, Asia’s businesses are promising increasingly inventive perks in a desperate bid to lure executives to a region where toxic air engulfs major cities for much of the year.Health concerns are putting off those initially attracted by Asia’s growing economic opportunities, experts warn, so firms are struggling to…
INTERVIEW: Jumeirah Group CEO Jose Silva explains leisure group’s plans in the ‘bucket list’ age DUBAI: Jose Silva, CEO of the Jumeirah Group, is a hotelier, restaurateur, tourism expert and an authority on luxury lifestyles. But he does not see any of these roles as his primary focus.He is, by his own description, a purveyor…
INTERVIEW: Jumeirah Group CEO Jose Silva explains leisure group’s plans in the ‘bucket list’ age DUBAI: Jose Silva, CEO of the Jumeirah Group, is a hotelier, restaurateur, tourism expert and an authority on luxury lifestyles. But he does not see any of these roles as his primary focus.He is, by his own description, a purveyor…
INTERVIEW: Jumeirah Group CEO Jose Silva explains leisure group’s plans in the ‘bucket list’ age DUBAI: Jose Silva, CEO of the Jumeirah Group, is a hotelier, restaurateur, tourism expert and an authority on luxury lifestyles. But he does not see any of these roles as his primary focus.He is, by his own description, a purveyor…
INTERVIEW: Jumeirah Group CEO Jose Silva explains leisure group’s plans in the ‘bucket list’ age DUBAI: Jose Silva, CEO of the Jumeirah Group, is a hotelier, restaurateur, tourism expert and an authority on luxury lifestyles. But he does not see any of these roles as his primary focus.He is, by his own description, a purveyor…
ISTANBUL: The Turkish lira weakened again on Friday and the government promised reforms, after a volatile week that brought back memories of last year’s currency crisis just as Turks head to polls this weekend.Turkey’s currency was down 1.8 percent after having tumbled 5 percent on Thursday. The weakness, after a strong rebound earlier in the…
ISTANBUL: The Turkish lira weakened again on Friday and the government promised reforms, after a volatile week that brought back memories of last year’s currency crisis just as Turks head to polls this weekend.Turkey’s currency was down 1.8 percent after having tumbled 5 percent on Thursday. The weakness, after a strong rebound earlier in the…
TOKYO: Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on US sanctions, according to industry sources and data on Refinitiv Eikon.The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires…
TOKYO: Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on US sanctions, according to industry sources and data on Refinitiv Eikon.The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires…
TOKYO: Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on US sanctions, according to industry sources and data on Refinitiv Eikon.The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires…
LONDON: Oil fell on Thursday after US President Donald Trump called for OPEC to boost crude production to lower the price of the commodity.International Brent crude oil futures slid 26 cents to about $67.57, while US West Texas Intermediate (WTI) crude futures were down about 24 cents to $59.17.“Very important that OPEC increase the flow…
