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IMF expects India’s role to expand in Indo-Pacific region

By   /  April 21, 2018  /  Business  /  No Comments

United Nations, April 21  The International Monetary Fund expects India’s role in the Indo-Pacific region’s development to continue to expand because of its robust growth, but it has to carry out more trade reforms, Ken Kang, the deputy director in IMF’s Asia Pacific Department said on Friday. “Given our robust growth forecast where we see […]

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UAE’s BMS International Commercial Investment interested in investing $3bn in Pakistan

By   /  April 21, 2018  /  Business  /  Comments Off on UAE’s BMS International Commercial Investment interested in investing $3bn in Pakistan

KARACHI: BMS International Commercial Investment LLC, one of the Royal Group Companies of Sheikh Saeed Bin Khalifa Al Nahyan, has shown interest in investing $3 billion in different economic sectors of Pakistan, with a focus on real estate. Louai Mohammed Ali, chairman of BMS International Commercial Investment, made the commitment to invest in Pakistan’s real […]

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Sebi fines Suzlon Energy over Rs 1 cr for violation of SCRA

By   /  April 21, 2018  /  Business  /  No Comments

Mumbai, April 21  Securities market regulator Sebi on Friday imposed a fine of more than Rs 1 crore on Suzlon Energy for violation of Securities Contracts (Regulation) Act (SCRA). According to the adjudication order, the company failed to disclose price sensitive information as required under the code of corporate disclosure practices for prevention of insider […]

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G20 financial leaders see downside risks to global economy from trade disputes

By   /  April 21, 2018  /  Business  /  No Comments

Washington, April 21  Financial leaders from the Group of 20 (G20) have expressed concerns that trade disputes among major economies could pose downside risks to the global economy, Argentine Treasury Minister Nicolas Dujovne has said. “Concerns on trade disputes occupied some part of the discussions that we had yesterday, and, of course, it is still […]

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Telegram Russia ban spurs privacy debate

By   /  April 21, 2018  /  Business  /  Comments Off on Telegram Russia ban spurs privacy debate

LONDON: Telegram, the messaging app that re-located from Russia to Dubai, has again fallen foul of the authorities in its mother country. So what is it about the social media platform that simultaneously has governments worldwide so concerned and freedom of speech advocates so agitated? Telegram has always attracted a mix of criticism and respect […]

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General Motors Korea and union to hold new round of wage talks

By   /  April 21, 2018  /  Business  /  Comments Off on General Motors Korea and union to hold new round of wage talks

SEOUL: General Motors’ South Korean unit and its labor union are set to hold another round of wage talks on Friday afternoon, keen to stave off a threat by the US automaker to seek bankruptcy for the loss-making unit. GM, which in February announced its plan to shut down one of its plants in Korea, […]

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Asia’s super-rich eye bargains as second-hand jet market soars

By   /  April 21, 2018  /  Business  /  Comments Off on Asia’s super-rich eye bargains as second-hand jet market soars

SHANGHAI: Asia’s super-wealthy are increasingly opting for second-hand private jets rather than buying new ones, as private buyers look for deep discounts and shorter waiting times, aircraft brokers said. Buyers from the region bought 61 pre-owned aircraft and 54 new jets in 2017, marking the first time second-hand purchases outstripped new orders, according to a […]

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Southwest challenged engine maker over speed of safety checks

By   /  April 21, 2018  /  Business  /  Comments Off on Southwest challenged engine maker over speed of safety checks

WASHINGTON/PARIS: Southwest Airlines clashed with engine-maker CFM over the timing and cost of proposed inspections after a 2016 engine accident, months before the explosion this week of a similar engine on a Southwest jet that led to the death of a passenger, public documents showed. The proposed inspections would have cost $170 per engine for […]

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Russia sees ‘solid foundation’ for extending oil alliance

By   /  April 21, 2018  /  Business  /  Comments Off on Russia sees ‘solid foundation’ for extending oil alliance

JEDDAH: Russia said there was a “very solid foundation” for extending cooperation between OPEC and non-OPEC countries at a meeting Friday of oil producers in Saudi Arabia. Oil kingpin Saudi Arabia said a “consensus” was emerging for a long-term cooperation agreement. “We have created a very solid foundation for cooperation between OPEC and non-OPEC countries […]

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Barclays chief Staley survives whistleblowing inquiry with fines

By   /  April 21, 2018  /  Business  /  Comments Off on Barclays chief Staley survives whistleblowing inquiry with fines

Barclays said Jes Staley will be fined by British regulators for attempting to unmask a whistleblower, but will be able to keep his job as the bank’s chief executive. The country’s banking watchdogs concluded Staley’s attempt to find out who wrote a letter raising “concerns of a personal nature” about an unnamed senior employee represented […]

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