ANKARA: The Turkish lira dived 5 percent against the dollar on Thursday as a senior official said banks had started providing the currency to the London market again, after several days of the authorities withholding liquidity to underpin the currency.The lira has come under renewed pressure over concerns about Turkey’s balance of payments, its ability…
LONDON: Britain’s markets watchdog said on Thursday it had fined Goldman Sachs International a record $45 million (£34.3 million) for failing to provide accurate reporting of transactions over a decade.“These were serious and prolonged failures,” said Mark Steward, the Financial Conduct Authority’s executive director of enforcement and market oversight.Goldman agreed to resolve the case speedily,…
BEIJING: The United States and China open the latest round of their trade talks Thursday as the economic superpowers edge towards a deal to resolve a months-long spat that has rattled the global economy.US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to resume talks in Beijing with China's top economic official…
LONDON: Saudi Aramco has agreed a $69.1 billion deal to acquire a majority stake in SABIC, the region’s biggest petrochemical company. It is part of a plan by the world’s largest national oil company to diversify away from pumping crude oil to generating more of its profits from high-value petrochemicals. And it paves the way…
LONDON: Saudi Aramco has agreed a $69.1 billion deal to acquire a majority stake in SABIC, the region’s biggest petrochemical company. It is part of a plan by the world’s largest national oil company to diversify away from pumping crude oil to generating more of its profits from high-value petrochemicals. And it paves the way…
BEIJING: The United States and China open the latest round of their trade talks Thursday as the economic superpowers edge towards a deal to resolve a months-long spat that has rattled the global economy.US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to resume talks in Beijing with China's top economic official…
LONDON: Saudi Aramco has agreed a $69.1 billion deal to acquire a majority stake in SABIC, the region’s biggest petrochemical company. It is part of a plan by the world’s largest national oil company to diversify away from pumping crude oil to generating more of its profits from high-value petrochemicals. And it paves the way…
LONDON: Saudi Aramco has agreed a $69.1 billion deal to acquire a majority stake in SABIC, the region’s biggest petrochemical company. It is part of a plan by the world’s largest national oil company to diversify away from pumping crude oil to generating more of its profits from high-value petrochemicals. And it paves the way…
LONDON: Saudi Aramco has agreed a $69.1 billion deal to acquire a majority stake in SABIC, the region’s biggest petrochemical company. It is part of a plan by the world’s largest national oil company to diversify away from pumping crude oil to generating more of its profits from high-value petrochemicals. And it paves the way…
MUMBAI: The Indian government has asked regional cane commissioners to take action against sugar mills selling sugar below a government-mandated price, a letter seen by Reuters showed.The sugar mills are facing a cash crunch as they also have to pay stipulated prices to buy cane from farmers at a time when there is a glut…
MUMBAI: The Indian government has asked regional cane commissioners to take action against sugar mills selling sugar below a government-mandated price, a letter seen by Reuters showed.The sugar mills are facing a cash crunch as they also have to pay stipulated prices to buy cane from farmers at a time when there is a glut…
JAKARTA: A senior Indonesian minister warned on Wednesday Southeast Asia’s biggest economy could consider exiting the Paris climate deal if the European Union goes ahead with a plan to phase out palm oil in renewable transportation fuel.Indonesia, the world’s biggest palm oil producer, has lashed out at the EU after the bloc classified palm oil…
HONG KONG: Hong Kong flag carrier Cathay Pacific said on Wednesday it will buy budget airline HK Express for more than $600 million as it moves to counter competition from the increasing number of low-cost carriers in the region.The move is its first foray into the budget sector and will leave Cathay controlling three of…
CHABAHAR, Iran: With the web of US sanctions tightening, Iran faces a host of challenges as it looks to an isolated port in the country’s far southeast to maintain the flow of goods.The port in Chabahar, only about 100 kilometers (62 miles) from the Pakistan border and located on the Indian Ocean, is Iran’s largest…
CHABAHAR, Iran: With the web of US sanctions tightening, Iran faces a host of challenges as it looks to an isolated port in the country’s far southeast to maintain the flow of goods.The port in Chabahar, only about 100 kilometers (62 miles) from the Pakistan border and located on the Indian Ocean, is Iran’s largest…
CAIRO: Saudi Aramco signed a land lease agreement with McDermott Arabia Company on Tuesday to establish an engineering, procurement, construction, and installation facility in the King Salman International Complex for Maritime Industries in Ras Al-Khair, Saudi Arabia. A joint press release said that Aramco signed the lease with McDermott Arabia, a subsidiary of McDermott International…
DUBAI: Saudi Aramco, the world’s biggest oil producer, is building an international gas business and converting more crude oil into chemicals in a bid to lessen its carbon footprint, Chief Executive Amin Nasser said on Tuesday. Aramco is building “an energy bridge” between Saudi Arabia and China to meet the Asian energy consumer’s increasing need…
DUBAI: Bahrain plans to roll out a commercial 5G mobile network by June, partly using Huawei technology despite the United States’ concerns the Chinese telecom giant’s equipment could be used for spying.Washington has warned countries against using Chinese technology, saying Huawei could be used by Beijing to spy on the West. China and Huawei have…
DUBAI: Bahrain plans to roll out a commercial 5G mobile network by June, partly using Huawei technology despite the United States’ concerns the Chinese telecom giant’s equipment could be used for spying.Washington has warned countries against using Chinese technology, saying Huawei could be used by Beijing to spy on the West. China and Huawei have…
SAN FRANCISCO: Global ride-hailing firm Uber Technologies will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. Uber said late Monday night it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it…
