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Trump announces tariffs on $50 bn in Chinese imports

Posted by on 15/06/2018
Filed under America, Business, Top Stories

Trump announces tariffs on $50 bn in Chinese imports

Trump announces tariffs on $50 bn in Chinese imports

Washington: US President Donald Trump today announced tariffs of 25 percent targeting $50 billion in Chinese imports from “industrially significant” technologies, making good on a pledge to punish the alleged theft of American intellectual property. In a statement, Trump also warned of “additional tariffs” should China retaliate with countermeasures on American goods and services exports. […]

Iran supply gap to dominate OPEC

Posted by on 13/06/2018
Filed under Business, Top Stories

Iran supply gap to dominate OPEC

Iran supply gap to dominate OPEC

PARIS: An oil production shortfall in Iran and Venezuela may force OPEC and Russia to decide later this month to open their taps, the International Energy Agency said yesterday. Even if the supply gap, triggered by the return of US sanctions on Iran and a major political crisis in Venezuela, is plugged, the oil market […]

Chinese businesses still wary on N Korea

Posted by on 12/06/2018
Filed under Asia, Business, Top Stories

Chinese businesses still wary on N Korea

Chinese businesses still wary on N Korea

DANDONG: Property speculators in China may be betting that yesterday’s US-North Korea summit is poised to unlock riches across the border but Chinese construction machinery dealer Wang Chenglin is far from convinced. Like many business owners in Dandong, through which most of North Korea’s trade flows, Wang’s hopes have been dashed before. In particular, he […]

India to miss key target for Japan bullet train project

Posted by on 12/06/2018
Filed under Business, Subcontinent

India to miss key target for Japan bullet train project

India to miss key target for Japan bullet train project

PALGHAR/TOKYO: India is set to miss a December deadline to acquire land for a Japan-backed $17 billion bullet train project following protests by fruit growers, government officials said, likely delaying one of Prime Minister Narendra Modi’s most ambitious projects. Modi’s office is now monitoring the project week-to-week, as Indian officials seek to reassure Tokyo that […]

Plan to get Indians flying hits turbulence

Posted by on 11/06/2018
Filed under Business, Subcontinent, Top Stories

Plan to get Indians flying hits turbulence

Plan to get Indians flying hits turbulence

BENGALURU/NEW DELHI: The slow pace of fitting out regional airports risks delaying Indian Prime Minister Narendra Modi’s ambitious plan to launch more flights connecting smaller towns and cities and get millions more people using air travel. The program, flagged off by Modi last year, aims to boost economic growth by refurbishing idled colonial-era airstrips or […]

Nigeria moves to boost cocoa sector

Posted by on 10/06/2018
Filed under Business, Top Stories

Nigeria moves to boost cocoa sector

Nigeria moves to boost cocoa sector

IBADAN: Cocoa House in Ibadan, southwest Nigeria, was built with the earnings from exports of cocoa beans and at 26 storeys was once the country’s tallest building. Profits from sales of the commodity-prized around the world as the basic ingredient for chocolate-used to be ploughed into providing free education and health services, rural development and […]

Jordan’s poor have little hope of change

Posted by on 09/06/2018
Filed under Business, Middle East, Top Stories, World

Jordan’s poor have little hope of change

Jordan’s poor have little hope of change

AMMAN: Protests over a proposed tax hike might have shone the spotlight on economic hardships in Jordan, but the poorest in the kingdom’s capital remain voiceless as they struggle to survive. Gaunt men sit on the ground of a rubbish-strewn alley in Amman’s Nazzal neighborhood, absent the traditional lights and cheerful decorations that usually come […]

Zain KSA refinances SAR 5.9bn Murabaha facility

Posted by on 06/06/2018
Filed under Business, Top Stories, World

Zain KSA refinances SAR 5.9bn Murabaha facility

Zain KSA refinances SAR 5.9bn Murabaha facility

  RIYADH: Mobile Telecommunications Company Saudi Arabia (Zain KSA) announces that it has successfully refinanced and extended the maturity date of its existing syndicated SAR 5.9 billion (USD 1.57 billion) Murabaha facility for five years. Additionally, the agreement includes a working capital facility of SAR 647 million (USD 172 million) for two years, bringing additional […]

Jordan at crossroads over economic protests

Posted by on 05/06/2018
Filed under Business, Middle East, Top Stories, World

Jordan at crossroads over economic protests

Jordan at crossroads over economic protests

AMMAN: Jordan’s King Abdullah II has warned that the country is “at a crossroads”, as protesters angered by anti-austerity measures took to the streets again overnight despite the prime minister’s resignation. Around 2,000 demonstrators gathered close to the prime minister’s office in central Amman to denounce IMF-backed reforms, hours after premier Hani Mulki stepped down […]

Kuwait sovereign issuance: The fund manager’s view

Posted by on 05/06/2018
Filed under Business, Kuwait, Top Stories

Kuwait sovereign issuance: The fund manager’s view

Kuwait sovereign issuance: The fund manager’s view

We think it is very likely that Kuwait will offer sovereign debt to international markets in the third quarter of 2018, once Ramadan and the summer vacations are over. And we are looking forward to it. Kuwait is probably one of the strongest, if not the strongest, sovereign credits in the Middle East, so as […]

Finance Minister briefs MPs on GRF cash flow outlook, presents scenarios to boost liquidity

Posted by on 04/06/2018
Filed under Business, Kuwait, Other News, Top Stories

Finance Minister briefs MPs on GRF cash flow outlook, presents scenarios to boost liquidity

Finance Minister briefs MPs on GRF cash flow outlook, presents scenarios to boost liquidity

KUWAIT: In a joint off-floor government-parliament meeting held on Sunday, Kuwait’s Minister of Finance Dr Nayef Al-Hajraf briefed parliamentarians on the liquidity outlook for Kuwait’s General Reserves Fund (GRF) for the next five to ten years, while emphasizing the need to adopt short and long-term reforms to safeguard the country’s GRF and boost its liquidity […]

Qatar economy weathers blockade storms

Posted by on 03/06/2018
Filed under Business, Middle East, Top Stories

Qatar economy weathers blockade storms

Qatar economy weathers blockade storms

DUBAI: Qatar has weathered the economic impacts of a stifling Saudi-led blockade, maintaining healthy growth, but some sectors continue to pay the price a year after the crisis erupted. On June 5, 2017, Saudi Arabia, the United Arab Emirates and Bahrain-all partners of Qatar in the Gulf Cooperation Council (GCC) — along with Egypt, severed […]

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