Egypt’s aviation ministry to increase departure fee for travelers in November: Reports CAIRO: Egypt’s Ministry of Civil Aviation has reportedly announced a $5 increase in the travelers’ departure fee starting from next November, local newspapers reported on Tuesday. Media said the increase to the passenger departure fee will raise the amount to $25, to be obtained indirectly for…
Egypt’s aviation ministry to increase departure fee for travelers in November: Reports CAIRO: Egypt’s Ministry of Civil Aviation has reportedly announced a $5 increase in the travelers’ departure fee starting from next November, local newspapers reported on Tuesday. Media said the increase to the passenger departure fee will raise the amount to $25, to be obtained indirectly for…
LONDON: Global exchange-traded funds are building cash piles to place in Saudi Arabian equities, according to a ranking compiled by Bloomberg.It comes as the country joins the FTSE Russell emerging markets index, which is expected to attract billions of dollars in foreign fund inflows.“We believe Saudi’s inclusion in the FTSE Russell EM Index will have…
LONDON: British employers ramped up their hiring at the fastest pace in more than three years in the three months to January as the country’s labor market defied the broader weakness in the overall economy as Brexit approached.The number of people in work surged by 222,000, helping to push down the unemployment rate to 3.9…
LONDON: British employers ramped up their hiring at the fastest pace in more than three years in the three months to January as the country’s labor market defied the broader weakness in the overall economy as Brexit approached.The number of people in work surged by 222,000, helping to push down the unemployment rate to 3.9…
BAKU: Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela’s oil minister.The Azeri ministry issued the statement on Tuesday following talks in Baku between Azerbaijan’s energy minister and Venezuelan oil minister and president of state-run oil company…
LONDON: The Dubai-listed developer Damac says it is scouting for additional plots of land in Saudi Arabia, both in established cities and the Kingdom’s emerging giga-projects such as Neom.Hussain Sajwani, chairman of Damac Properties, also said the company would look to invest up to £500 million ($660 million) on a second development in the UK,…
KUALA LUMPUR: Malaysian prosecutors on Monday said they would issue summonses to units of US investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year.Soon after being elected in May, 2018, a new government charged three units of Goldman Sachs for misleading…
LONDON: The Dubai-listed developer Damac says it is scouting for additional plots of land in Saudi Arabia, both in established cities and the Kingdom’s emerging giga-projects such as Neom.Hussain Sajwani, chairman of Damac Properties, also said the company would look to invest up to £500 million ($660 million) on a second development in the UK,…
KUALA LUMPUR: Malaysian prosecutors on Monday said they would issue summonses to units of US investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year.Soon after being elected in May, 2018, a new government charged three units of Goldman Sachs for misleading…
SINGAPORE: Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and US sanctions against Iran and Venezuela.Brent crude oil futures were at $67.03 per barrel at 0231 GMT, down 13 cents, or 0.2 percent, from…
SINGAPORE: Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and US sanctions against Iran and Venezuela.Brent crude oil futures were at $67.03 per barrel at 0231 GMT, down 13 cents, or 0.2 percent, from…
CAIRO: The Egyptian pound strengthened on Sunday to its highest in over two years, boosted by an increase in foreign funds into the country.The currency was trading at 17.34 to the dollar on Sunday, up more than three percent from 17.86 on Jan. 22 when it began its latest round of strengthening.“You’re seeing most of…
CAIRO: The Egyptian pound strengthened on Sunday to its highest in over two years, boosted by an increase in foreign funds into the country.The currency was trading at 17.34 to the dollar on Sunday, up more than three percent from 17.86 on Jan. 22 when it began its latest round of strengthening.“You’re seeing most of…
FRANKFURT: Deutsche Bank was set on Sunday to confirm merger talks with fellow German lender Commerzbank, according to a person with knowledge of the matter, an indication that efforts to combine the two businesses were gaining pace.Formal disclosure of talks increases the chances of concluding a tie-up between the nation’s two largest banks.A merger has…
HOUSTON: US oil industry leaders are concerned by the potential damage that could be done to their businesses if the Trump administration passes the so-called NOPEC act, opening up oil producers to legal action in the US.An employee of the American Petroleum Institute (API), the trade organization for the US oil and gas industry, wrote:…
RIYADH: Saudi Arabia’s sovereign wealth fund has appointed a former International Finance Corporation official as its chief economist within a plan to boost hiring and expand overseas, it was reported on Sunday.“Within its plans to add 700 employees to its workforce, the Public Investment Fund (PIF) has appointed Ted Chu as chief economist after he…
FRANKFURT: Deutsche Bank was set on Sunday to confirm merger talks with fellow German lender Commerzbank, according to a person with knowledge of the matter, an indication that efforts to combine the two businesses were gaining pace.Formal disclosure of talks increases the chances of concluding a tie-up between the nation’s two largest banks.A merger has…
SAN FRANCISCO: Google is looking transform Internet-age game play, with an expected launch of a streaming service which uses the tech giant’s power in the Internet cloud.Expected Tuesday is the debut of a ramped-up version of a cloud gaming platform Google tested recently in partnership with Ubisoft.A video clip teasing a keynote presentation at an…
DUBAI: Fatima Al-Shamsi was in the UAE energy ministerial party at the CERAWeek by IHS Markit forum in Houston, Texas, because of her expertise in future energy strategy, but she was also there to pick up some tips on how to organize a global energy conference. In September in Abu Dhabi, the UAE will stage…
