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Jack Ma to unveil succession plans today; no retirement

Posted by on 09/09/2018
Filed under Business

Jack Ma to unveil succession plans today; no retirement

Jack Ma to unveil succession plans today; no retirement

New York Times’ story ‘was taken out of context, and factually wrong’ BEIJING: Alibaba co-founder and chairman Jack Ma will unveil a succession plan today, the South China Morning Post reported yesterday, with a company spokesman denying a New York Times report that he would retire that day. The SCMP, which is owned by Alibaba, […]

Qatar to invest $11.6 billion in Germany

Posted by on 08/09/2018
Filed under Business, Europe, Middle East, Top Stories, World

Qatar to invest $11.6 billion in Germany

Qatar to invest $11.6 billion in Germany

BERLIN: Qatar’s Amir Sheikh Tamim Bin Hamad Al-Thani said in Berlin Friday his country would invest some 10 billion euros ($11.6 billion) in Germany, as he battles a policy of isolation by neighboring states. “We are announcing Qatar’s desire to invest 10 billion euros in the German economy over the coming five years,” the Gulf […]

Trump ups ante on China as trade war rages

Posted by on 08/09/2018
Filed under America, Asia, Business, Top Stories, World

Trump ups ante on China as trade war rages

Trump ups ante on China as trade war rages

US threatens to slap tariffs on nearly all Chinese imports ABOARD AIR FORCE ONE/WASHINGTON: US President Donald Trump warned on Friday he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on another $267 billion of goods on top of $200 billion in imports primed for levies in […]

Boursa Kuwait stocks mixed as traders focus on leading stocks

Posted by on 08/09/2018
Filed under Business

Boursa Kuwait stocks mixed as traders focus on leading stocks

Boursa Kuwait stocks mixed as traders focus on leading stocks

Three indices fluctuate for second consecutive week KUWAIT: Boursa Kuwait ended last week with mixed performance. The Premier Market Index closed at 5,305.33 points, up by 0.83 percent, the Main Market Index decreased by 0.63 percent after closing at 4,866.42 points, and the All-Share Index closed at 5,149.42 points up by 0.33 percent. Furthermore, last […]

US trade policy at a crossroads with Canada, China

Posted by on 06/09/2018
Filed under America, Asia, Business, World

US trade policy at a crossroads with Canada, China

US trade policy at a crossroads with Canada, China

Trump to impose new tariffs on China; rewrite NAFTA WASHINGTON: President Donald Trump’s trade policy faces a key crossroads yesterday, as officials try to reach a deal with Canada, and he will decide whether to impose a huge wave of new tariffs on China. With Canada, the largest US trading partner, talks seem to be […]

US to help nations replace Iran oil, may consider waivers

Posted by on 06/09/2018
Filed under America, Business, Subcontinent, World

US to help nations replace Iran oil, may consider waivers

US to help nations replace Iran oil, may consider waivers

Sanctions’ aim is to target Iran oil revenues NEW DELHI: Washington will consider waivers for Iranian oil buyers such as India but they must eventually halt imports as sanctions are imposed on Tehran, US Secretary of State Mike Pompeo said yesterday. Pompeo, who is in Delhi with US Defense Secretary Jim Mattis for talks with […]

India’s rupee hits record low against the dollar

Posted by on 06/09/2018
Filed under Business, Subcontinent, World

India’s rupee hits record low against the dollar

India’s rupee hits record low against the dollar

MUMBAI: India’s rupee hit a new record low of 72 to the dollar on Thursday as emerging market currencies suffered more losses. The under-pressure currency of Asia’s third-largest economy slid to 72.12 to the greenback in afternoon trade. The rupee has steadily fallen by about 10 percent throughout 2018, after starting the year at 63.67. […]

India’s tax effect: Thousands laid off despite growth

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

India’s tax effect: Thousands laid off despite growth

India’s tax effect: Thousands laid off despite growth

Small businesses shut down as compliance costs rise PANIPAT, India: Tilak Raj Bathla’s tiny weaving factory is one of the few still humming on a once busy road in the northern Indian city of Panipat, known as the country’s “textile city”. Nearby, more than two dozen other workshops are locked from the outside, while dogs […]

S&P cuts credit ratings on two Dubai firms

Posted by on 05/09/2018
Filed under Business

S&P cuts credit ratings on two Dubai firms

S&P cuts credit ratings on two Dubai firms

DUBAI: S&P Global Ratings cut its credit ratings for two Dubai state-owned companies, saying a weakening economy in the emirate was hurting the government’s ability to extend emergency support to the firms if needed. The downgrades were a fresh sign of pressure on Dubai’s economy, where the real estate and equity markets are slumping. The […]

Saudi fund bets big to remake oil economy

Posted by on 05/09/2018
Filed under Business

Saudi fund bets big to remake oil economy

Saudi fund bets big to remake oil economy

PIF seeks to transform kingdom from a petro-state to a tech-focused economy RIYADH: With the stock market listing of its national oil company stalled, Saudi Arabia is scrambling to boost the coffers of the sovereign wealth fund spearheading a risky plan to diversify its economy. The Public Investment Fund had sought to raise billions of […]

Global equities remain positive despite lingering trade war fears

Posted by on 05/09/2018
Filed under Business

Global equities remain positive despite lingering trade war fears

Global equities remain positive despite lingering trade war fears

US-Mexico NAFTA deal brings relief to markets KUWAIT: Global equities in August posted a positive return of 0.6 percent as measured by the MSCI All Country World Index. In the US, the Dow Jones and S&P 500 each closed in the green returning 2.2 percent and 3.0 percent, respectively. The S&P 500 in August recorded […]

Iran rial hits record low around 150,000 against dollar

Posted by on 05/09/2018
Filed under Business

Iran rial hits record low around 150,000 against dollar

Iran rial hits record low around 150,000 against dollar

DUBAI: Iran rial extended its slide yesterday, hitting a record low around 150,000 against the dollar, according to foreign-exchange websites, as the country’s economic fortunes ebb after the United States re-imposed sanctions. The dollar was being offered for 150,000 rials, compared with about 138,000 rials on Tuesday, according to website Bonbast.com, which tracks the unofficial […]