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Twin tragedies push Malaysia Airlines to the brink

Posted by on 27/07/2014
Filed under Business

Twin tragedies push Malaysia Airlines to the brink

Twin tragedies push Malaysia Airlines to the brink

KUALA LUMPUR: Any airline would struggle with the devastating impact of losing one jet full of passengers, especially if it had already been bleeding money for years. But losing another just months later is pushing crisis-hit Malaysia Airlines to the brink of financial collapse, airline experts said, spotlighting whether it can steer its way out […]

Ramadan a big boon for retailers – Muslims emerging a strong economic force: Specialist

Posted by on 26/07/2014
Filed under Business, Top Stories

Ramadan a big boon for retailers – Muslims emerging a strong economic force: Specialist

Ramadan a big boon for retailers – Muslims emerging a strong economic force: Specialist

DUBAI: Glitzy billboards in the Middle East and postage stamps in the US Advertisements for lingerie and sales on modest skirts. Lavish buffets and cellphone apps. Ramadan, Islam’s holiest month, is a boon for retailers in the Middle East, South Asia and beyond. And while some Muslims welcome it as a positive sign, others see […]

British economy grows to above pre-crisis level

Posted by on 25/07/2014
Filed under Business, Top Stories

British economy grows to above pre-crisis level

British economy grows to above pre-crisis level

LONDON: Britain’s economy grew strongly in the second quarter, overtaking the size it achieved before the global financial crisis, data showed yesterday in the latest sign of robust recovery. The latest figures, along with a sharp fall in unemployment to the lowest level for five years, give a boost to the government before a general […]

Global economy starts H1 on solid footing

Posted by on 24/07/2014
Filed under Business, Top Stories

Global economy starts H1 on solid footing

Global economy starts H1 on solid footing

LONDON: China’s factory activity expanded at its fastest in 18 months in July as new orders surged while the euro-zone’s private sector also perked up, suggesting the global economy started the second half of 2014 on a solid footing. While China is relying on increased government stimulus to steer its economy away from reliance on […]

Saudi to open $530bn bourse to foreigners – Authorities want to diversify economy beyond oil

Posted by on 22/07/2014
Filed under Business, Top Stories

Saudi to open $530bn bourse to foreigners – Authorities want to diversify economy beyond oil

Saudi to open $530bn bourse to foreigners – Authorities want to diversify economy beyond oil

RIYADH: Saudi Arabia’s cabinet gave permission to the financial regulator to open the Arab World’s biggest stock market to direct investment by foreign financial institutions. The opening of the Saudi market, capitalized at about $530 billion, is one of the most keenly awaited economic reforms in the world’s biggest oil exporter. The bourse would be […]

Cash-flush Gulf banks grab top spots in loan market

Posted by on 21/07/2014
Filed under Business, Top Stories

Cash-flush Gulf banks grab top spots in loan market

Cash-flush Gulf banks grab top spots in loan market

DUBAI: Cash-rich Gulf banks are grabbing a growing share of the region’s loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending. The shift reflects the weakened state of European and US banks in the wake of the global financial crisis; they face cost-cutting […]

How can Malaysia Airlines salvage its brand?

Posted by on 20/07/2014
Filed under Business, Top Stories

How can Malaysia Airlines salvage its brand?

How can Malaysia Airlines salvage its brand?

Malaysia Airlines is in uncharted territory after the disappearance of Flight 370 in March with 239 people aboard was followed this week by the downing of another of its jets, carrying 298 people, over Ukraine. Before the disasters the carrier had among the worst financial performance of any airline. An even bigger question mark now […]

MH17 crash clouds over G20 trade summit

Posted by on 19/07/2014
Filed under Business, Top Stories

MH17 crash clouds over G20 trade summit

MH17 crash clouds over G20 trade summit

SYDNEY: Trade ministers from the world’s leading economies met in Sydney yesterday for the latest round of G20 talks, with the crash of Malaysia Airlines Flight MH17 threatening to overshadow the summit. G20 chair Australia has sought to keep the meeting focused on economic growth, but Thursday’s disaster in rebel-held territory in eastern Ukraine put […]

Business leaders urge G20 reforms to boost global growth by $3.4tn

Posted by on 18/07/2014
Filed under Business, Top Stories

Business leaders urge G20 reforms to boost global growth by $3.4tn

Business leaders urge G20 reforms to boost global growth by $3.4tn

SYDNEY: Business leaders in Australia yesterday called on G20 leading economies to implement recommendations on structural reforms and free trade that could boost global growth by US$3.4 trillion and create millions of jobs. The business chiefs, who are in Sydney for a two-day B20 summit, said their list of 20 recommendations-if adopted by G20 leaders-would […]

BRICS to create development bank, ‘mini-IMF’

Posted by on 15/07/2014
Filed under Business, Top Stories

BRICS to create development bank, ‘mini-IMF’

BRICS to create development bank, ‘mini-IMF’

FORTALEZA: Leaders of the BRICS group of emerging powers met yesterday to launch a new development bank and a reserve fund seen as counterweights to Western-led financial institutions. Brazilian President Dilma Rousseff hosts the leaders of Russia, India, China and South Africa in Fortaleza on Tuesday before talks with South American leaders the next day […]

Asian shares gain, count on Fed’s support

Posted by on 15/07/2014
Filed under Business, Top Stories

Asian shares gain, count on Fed’s support

Asian shares gain, count on Fed’s support

    TOKYO: Asian shares rose yesterday after Citigroup’s earnings and a fresh round of merger and acquisition activity in the US healthcare sector lifted global stock prices. Yet, with elevated prices on Wall Street and elsewhere relying substantially on support from low interest rates, many investors were now focusing on Federal Reserve Chair Janet […]

NBK participates in financing KPI’s acquisition of Shell’s Italian assets

Posted by on 14/07/2014
Filed under Business

NBK participates in financing KPI’s acquisition of Shell’s Italian assets

NBK participates in financing KPI’s acquisition of Shell’s Italian assets

KUWAIT: National Bank of Kuwait (NBK) has participated in financing Kuwait Petroleum International’s (KPI) acquisition of Shell’s Italian assets. NBK is the only Arab and Kuwaiti bank participating in this financing. Shaikha Al-Bahar, NBK’s Deputy Group Chief Executive Officer, and Bakheet Al-Rashidi, KPI Chief Executive Officer, signed the loan agreement at KPI’s headquarters in Kuwait. […]

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