Major automakers think US President Donald Trump will again this week push back a self-imposed deadline on whether to put up to 25 percent tariffs on national security grounds on imported cars and parts from the EU and Japan amid an ongoing trade war with China, five auto officials told Reuters. The anticipated delay —…
Major automakers think US President Donald Trump will again this week push back a self-imposed deadline on whether to put up to 25 percent tariffs on national security grounds on imported cars and parts from the EU and Japan amid an ongoing trade war with China, five auto officials told Reuters. The anticipated delay —…
WASHINGTON: US consumer prices jumped by the most in seven months in October, which together with abating fears of a recession, support the Federal Reserve’s signal for no further interest rate cuts in the near term. The report from the Labor Department on Wednesday showed broad price increases, with the cost of health care surging…
TOKYO: The drama surrounding the arrest of Carlos Ghosn, former boss of motor giants Nissan and Renault, has yet to reach its climax. Yet the plot continues to thicken with each new development. On Monday, Ghosn’s defense lawyers unveiled court submissions highlighting the circumstances in which the 65-year-old executive was arrested and subsequently held in…
TOKYO: The drama surrounding the arrest of Carlos Ghosn, former boss of motor giants Nissan and Renault, has yet to reach its climax. Yet the plot continues to thicken with each new development. On Monday, Ghosn’s defense lawyers unveiled court submissions highlighting the circumstances in which the 65-year-old executive was arrested and subsequently held in…
TOKYO: The drama surrounding the arrest of Carlos Ghosn, former boss of motor giants Nissan and Renault, has yet to reach its climax. Yet the plot continues to thicken with each new development. On Monday, Ghosn’s defense lawyers unveiled court submissions highlighting the circumstances in which the 65-year-old executive was arrested and subsequently held in…
HONG KONG: Swiss bank UBS was fined HK$400 million ($51.09 million) by Hong Kong’s securities regulator for overcharging up to 5,000 clients for nearly a decade, the watchdog said on Monday.The Hong Kong Securities and Futures Commission (SFC) said in a statement that an investigation found UBS had overcharged clients on ‘post-trade spread increases’ and…
DUBAI: Amr Al-Madani is in no doubt about the significance of the AlUla heritage project he is heading up for the Kingdom of Saudi Arabia. “It is our yellow oil,” he said — a reference to the sandy landscape in the northwest of the country, just over 100 km from the Red Sea coast. In fact,…
YOKOHAMA, Japan: Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn.Nissan downgraded its net profit forecast to ¥110 billion ($1 billion) for the fiscal year to…
LONDON: Britain’s economy grew at the slowest annual rate in nearly a decade in the three months to the end of September, as a global slowdown and Brexit worries hit business investment and manufacturing.Year-on-year gross domestic product growth slowed to 1.0 percent from 1.3 percent in the second quarter, Britain’s Office for National Statistics said,…
ABU DHABI: OPEC and non-OPEC producers will probably extend a deal to limit crude supply but are unlikely to deepen cuts, Oman’s energy minister said on Monday, as the United Arab Emirates said it was not worried about long-term oil demand growth.The Organization of the Exporting Producing Countries, Russia and other oil producer allies —…
Amr Al-Madani, the man in charge of the AlUla project — Saudi Arabia’s ‘Yellow oil’ DUBAI: Amr Al-Madani is in no doubt about the significance of the AlUla heritage project he is heading up for the Kingdom of Saudi Arabia. “It is our yellow oil,” he said — a reference to the sandy landscape in the…
MOSCOW: Moscow photographer Galina Goryushina says that online shopping has changed her life.“I’ve got more time for myself,” said the 30-year-old freelancer.“I don’t have to haul heavy shopping bags. And I don’t waste money on silly knick-knacks laid out on the store shelves,” said Goryushina.The young woman began shopping online a decade ago when she…
MOSCOW: Moscow photographer Galina Goryushina says that online shopping has changed her life.“I’ve got more time for myself,” said the 30-year-old freelancer.“I don’t have to haul heavy shopping bags. And I don’t waste money on silly knick-knacks laid out on the store shelves,” said Goryushina.The young woman began shopping online a decade ago when she…
DUBAI: Dubai construction and hospitality giant Emaar Properties on Sunday reported a rise in interim profit results, posting higher sales despite an economic downturn that has depressed the property industry.The company, which owns the world’s tallest tower, Burj Khalifa, said it posted $362 million in net profit in the third quarter, up 20 percent from…
BEIJING: China’s consumer prices grew at their fastest rate in almost eight years in October driven by a spike in meat prices caused by an outbreak of African swine fever, according to official figures released Saturday.The consumer price index (CPI) — a key gauge of retail inflation — hit 3.8 percent last month, the National…
CHICAGO/WASHINGTON: Southwest Airlines and American Airlines said on Friday they are extending Boeing 737 MAX cancelations until early March, just shy of the one-year anniversary of an Ethiopian Airlines crash of the jet that led to a worldwide grounding.Southwest and American, the two largest US operators of the aircraft, have had to scale back growth…
PARIS: Leasing giant GECAS, the aircraft leasing subsidiary of General Electric, has ordered 25 Airbus aircraft including a rare purchase of jets powered by GE’s rival engine maker Rolls-Royce, two people familiar with the matter said. The order includes 12 Airbus A330neo jets, for which Rolls-Royce is the sole engine supplier, and 13 A321XLR long-distance…
LISBON: Whistleblowers and digital pioneers have long been sounding the alarm about abuses of our privacy online. Now, a slew of tech entrepreneurs are bidding to turn growing consciousness about the problem into a money-making industry and many showcased their skills at this week’s Web Summit in Lisbon. “Undeniably, with the new tensions that exist,…
BEIJING: China lifted its annual rare earth output quotas on Friday by 10% to record-high levels for 2019, potentially easing fears the world’s dominant producer of the group of 17 prized minerals will restrict supply.Beijing in late May raised the prospect of weaponizing its control of rare earths, used in everything from consumer electronics to…
