DUBAI: Philippine consumer prices further eased in February, falling within the government’s target range set for the year and boosting confidence the economy would grow faster within the period. The country’s inflation rate last month was pegged at 3.8 percent, versus a higher 4.4 percent in January while it was the same as the February…
WASHINGTON: At President Donald Trump’s direction, the United States intends to scrap the preferential trade status granted to India and Turkey, officials said Monday.Washington “intends to terminate India’s and Turkey’s designations as beneficiary developing countries under the Generalized System of Preferences (GSP) program because they no longer comply with the statutory eligibility criteria,” the US…
NEW YORK: The European economy is cooling more than many investors believe, Mohamed El-Erian, chief economic adviser for Allianz SE, said on Monday, warning that the slowdown poses the biggest risk to the market.In addition, El-Erian, in an interview with Reuters, said that the European Central Bank has only limited tools at its disposal to…
JAKARTA: The Indonesian market could be a testing ground for Palestinian exports’ competitiveness following the introduction of a zero tariff policy. An agreement with Indonesia on import tariff waivers for Palestinian products came into effect in mid-February following six years of negotiations between the two countries. The initial waiver will apply to fresh and dried…
Barclays investors would have gone ‘completely nuts’ over secret Qatar fees, court hears LONDON: Fellow investors in Barclays bank would have gone “completely nuts” if they knew about secret payments made to Qatar in its multibillion-dollar bailout of the UK lender, a London court heard on Monday. The UK Serious Fraud Office (SFO) alleges that…
Barclays investors would have gone ‘completely nuts’ over secret Qatar fees, court hears LONDON: Fellow investors in Barclays bank would have gone “completely nuts” if they knew about secret payments made to Qatar in its multibillion-dollar bailout of the UK lender, a London court heard on Monday. The UK Serious Fraud Office (SFO) alleges that…
JAKARTA: The Indonesian market could be a testing ground for Palestinian exports’ competitiveness following the introduction of a zero tariff policy. An agreement with Indonesia on import tariff waivers for Palestinian products came into effect in mid-February following six years of negotiations between the two countries. The initial waiver will apply to fresh and dried…
DUBAI: Egypt’s EFG Hermes is working on a $500 million merger and acquisition in Saudi Arabia and expects more deals to come out of the kingdom this year, especially from the private sector, its head of investment banking told Reuters.Saudi Arabia has made attracting greater foreign investment a key part of its economic Vision 2030…
PARIS: Volvo Cars said on Monday it will introduce a 180 km per hour (112 mph) speed limiter on all new vehicles as the Swedish automaker seeks to burnish its safety credentials and meet a pledge to eliminate passenger fatalities by 2020.While Volvo, whose XC90 flagship SUV currently has a top speed of 212 km/h,…
BEIJING: A Chinese government spokesman took issue Monday with US claims that telecoms giant Huawei Technologies poses a threat to other countries’ information security because of Chinese laws.The comments by spokesman Zhang Yesui ahead of the annual session of China’s rubber-stamp parliament followed news that Huawei executive Meng Wanzhou, who was arrested by Canada at…
DUBAI: Egypt’s EFG Hermes is working on a $500 million merger and acquisition in Saudi Arabia and expects more deals to come out of the kingdom this year, especially from the private sector, its head of investment banking told Reuters.Saudi Arabia has made attracting greater foreign investment a key part of its economic Vision 2030…
Barclays investors would have gone ‘completely nuts’ over secret Qatar fees, court hears LONDON: Fellow investors in Barclays bank would have gone “completely nuts” if they knew about secret payments made to Qatar in its multibillion-dollar bailout of the UK lender, a London court heard on Monday. The UK Serious Fraud Office (SFO) alleges that…
TOKYO: The lawyer for former Nissan Motor Co. Ltd. Chairman Carlos Ghosn on Monday said his team would pursue a different legal strategy from the ousted executive’s previous team in defending him against charges of financial misconduct. At a media briefing, Junichiro Hironaka said the new team he was heading would not be limited to…
TOKYO: The lawyer for former Nissan Motor Co. Ltd. Chairman Carlos Ghosn on Monday said his team would pursue a different legal strategy from the ousted executive’s previous team in defending him against charges of financial misconduct. At a media briefing, Junichiro Hironaka said the new team he was heading would not be limited to…
WASHINGTON: The US and China appear close to a deal that would roll back US tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on US goods, a source briefed on negotiations said on Sunday.US President Donald Trump and Chinese President Xi…
ANKARA: Turkish inflation has dropped below 20 percent for the first time since August last year, reaching 19.67 percent in February, official statistics showed Monday.Consumer prices had been falling since a 15-year high in October, but inflation rose in January and reached an annual rate of 20.35 percent from 20.30 percent in December.The highest monthly…
ANKARA: Turkish inflation has dropped below 20 percent for the first time since August last year, reaching 19.67 percent in February, official statistics showed Monday.Consumer prices had been falling since a 15-year high in October, but inflation rose in January and reached an annual rate of 20.35 percent from 20.30 percent in December.The highest monthly…
BEIJING: In an unusual step, China’s ceremonial legislature is due to endorse a law meant to help end a bruising tariff war with Washington by discouraging officials from pressuring foreign companies to hand over technology.The battle with China’s biggest trading partner is overshadowing the National People’s Congress, the country’s highest-profile event of the year. It…
The name is Balmer. Dan Balmer. The new president of Middle East business for Aston Martin Lagonda, the iconic British car maker beloved by James Bond, is grateful for the glamorous legacy of the fictional super-spy, but also conscious of the need to move on. “We’ve been with Bond for 50 years, and he has…
DUBAI: The clock is ticking down on the introduction of a piece of regulation that — if not managed properly — threatens to bring turmoil to global trade and energy markets.By the end of the year, the world’s maritime industry is expected to have put in place new anti-pollution measures imposed by the International Maritime…
