HONG KONG: Low-cost carrier Hong Kong Airlines said Friday it will delay salary payments to some staff, warning its business has been “severely affected” by the political unrest in the city.Nearly six months of protests in the international finance hub have dealt its tourism sector a massive blow, and airlines serving the city have struggled.“Hong…
RIYADH: Retail subscription for Saudi Aramco's initial public offering (IPO) reached SR32.57 billion ($8.69 billion) on Wednesday, lead manager Samba Capital said. The retail element of the sale so far amounts to a total of 1,017,816,380 shares, Samba Capital and Investment Management Company said in a statement. The last day of subscription for the retail…
LONDON: Arab and British business leaders will meet this week to discuss how technology in industry can help forge closer UK-Middle East ties. A conference hosted by the Arab-British Chamber of Commerce in London on Thursday will examine how different sectors — from health care to education — are being transformed and explore the importance…
HONG KONG: The private banking business of HSBC Holdings is aggressively pursuing double-digit growth in client assets and revenue, riffing off a surge in Asian wealth, the unit’s chief executive told Reuters. Antonio Simoes also said that the London-headquartered bank aims to increase its onshore presence in China, home to an eighth of all billionaires’…
BEIRUT: Lebanon’s health minister on Tuesday urged the central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country. “The sector is under serious threat,” caretaker minister Jamal Jabak, who is close to Iran-backed movement Hezbollah, told a news conference. “A hospital without medical supplies cannot operate.” The Lebanese…
KABUL: China has signed an agreement to purchase pine nuts worth $2 billion from Afghanistan, a major business move by Beijing which has been expanding its investment and trade efforts in the neighboring country, Afghan officials said on Tuesday. Afghanistan exported 23,000 tons to China last year and — on the basis of a deal signed…
KABUL: China has signed an agreement to purchase pine nuts worth $2 billion from Afghanistan, a major business move by Beijing which has been expanding its investment and trade efforts in the neighboring country, Afghan officials said on Tuesday. Afghanistan exported 23,000 tons to China last year and — on the basis of a deal signed…
HONG KONG: Chinese online retail giant Alibaba surged Tuesday as it drew back the curtain on a Hong Kong listing the firm described as a vote of confidence in the embattled city. The long-delayed trading day got off to a glitzy start with chief executive officer Daniel Zhang joined on stage at a stock exchange…
PERTH, Australia: The chief executive of Australia’s second biggest bank said Tuesday he plans to resign following accusations Westpac committed 23 million breaches of anti-money laundering and counterterrorism financing laws.The financial crime regulator AUSTRAC is pursuing Westpac in the Federal Court for allegedly failing to report millions of international fund transfers including payments allegedly linked…
HONG KONG: Chinese online retail giant Alibaba surged Tuesday as it drew back the curtain on a Hong Kong listing the firm described as a vote of confidence in the embattled city. The long-delayed trading day got off to a glitzy start with chief executive officer Daniel Zhang joined on stage at a stock exchange…
NEW YORK: The growing craze for vegetarian versions of juicy burgers and sausages has created such a buzz that even traditional meat producers are trying to get in on the action. The big players are trying to capitalize on the success of products from companies like Beyond Meat and Impossible Burger. JBS, the world’s largest beef…
NEW YORK: The growing craze for vegetarian versions of juicy burgers and sausages has created such a buzz that even traditional meat producers are trying to get in on the action. The big players are trying to capitalize on the success of products from companies like Beyond Meat and Impossible Burger. JBS, the world’s largest beef…
NEW YORK: The growing craze for vegetarian versions of juicy burgers and sausages has created such a buzz that even traditional meat producers are trying to get in on the action. The big players are trying to capitalize on the success of products from companies like Beyond Meat and Impossible Burger. JBS, the world’s largest beef…
Oil prices were relatively steady with Brent crude holding above $63 per barrel near an eight-week high and WTI finishing above $57 per barrel. The physical spot market is getting tighter and strong demand for Arabian Gulf medium sour crude has reflected that trend. So as yet, there are no signs of any weaker oil…
LOS ANGELES: Tesla’s new electric pickup truck has secured almost 150,000 orders, the company’s chief executive Elon Musk boasted on Twitter, just two days after its big reveal went embarrassingly wrong.The billionaire Tesla co-founder floundered on stage in California on Thursday when the vehicle’s armored glass windows cracked in a demonstration intended to prove their…
JOHANNESBURG: The insect-eaten money fluttered in pieces to the floor. For global music star Angelique Kidjo, that image of her grandmother having to use a closet as a bank is driving her desire to see African women leap the many obstacles to obtaining credit — and respect. The Benin-born singer, one of Africa’s iconic artists and…
DUBAI: Saudi Advanced Electronics Company (AEC) will step up production of military equipment following its licensing for military manufacture by the General Authority for Military Industries.The license in five categories allows AEC to make military personnel equipment, military electronics, and to provide military services for equipment and electronics.“This will make us an official producer and supplier…
BEIJING: The contest to become leader in 5G technology is the next battleground between China and the US, the Bloomberg New Economy Forum heard in Beijing. The latest generation of telecom technology has the power to transform the global economy, but has also become a hot political issue, according to a panel of experts from the…
LONDON: The physical crude oil market and the structure of the oil futures curve have rarely been more aligned over the past few years than in recent weeks, and they tell a counter-intuitive story of a tight oil market next year. While OPEC and the International Energy Agency point to a swelling oil glut next year…
German high-end carmaker has BMW said that it was massively increasing orders of battery cells for electric cars for the coming decade, as it plans dozens of new electrified models. The total increase of €6.2 billion ($6.9 billion) will come from a new €2.9-billion contract with Samsung-SDI and an increase from €4 billion to €7.3…
