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Saudi Arabia plans $19bn boost for private sector

By   /  December 15, 2017  /  Business  /  Comments Off on Saudi Arabia plans $19bn boost for private sector

Author: FRANK KANEFri, 2017-12-15 03:00ID: 1513282242622221500DUBAI: Saudi Arabia is to inject SR72 billion ($19.2 billion) into the private sector of the economy in a bid to stimulate activity in the non-oil sector, which has been hit by the slowdown in government spending as a result of oil revenue weakness. Housing and small business are major beneficiaries of […]

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Kingdom, Russia cement nuclear energy ties

By   /  December 15, 2017  /  Business  /  Comments Off on Kingdom, Russia cement nuclear energy ties

Author: RICHARD WACHMANFri, 2017-12-15 03:00ID: 1513282242782222400LONDON: Saudi Arabia and Russia have signed a roadmap deal to implement a civil nuclear cooperation program that was inked in Moscow in October when King Salman met President Vladimir Putin. A statement from Russian state-owned nuclear company Rosatom said on Thursday the countries aim to cooperate in the field of small […]

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Future of A380 hangs on Emirates amid rumors of production cuts

By   /  December 15, 2017  /  Business  /  Comments Off on Future of A380 hangs on Emirates amid rumors of production cuts

Author: RICHARD WACHMANFri, 2017-12-15 03:00ID: 1513282242732222100LONDON: The future of Airbus’ A380 depends to a large extent on Emirates, the Dubai carrier that is by far the aircraft maker’s largest customer, analysts told Arab News. Airbus was upstaged at the recent Dubai Airshow when instead of an expected announcement that Emirates would order 36 of Airbus’ superjumbos, it […]

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Turkey, Oman vulnerable if central banks hike rates too steeply, says S&P

By   /  December 15, 2017  /  Business  /  Comments Off on Turkey, Oman vulnerable if central banks hike rates too steeply, says S&P

Author: RICHARD WACHMANFri, 2017-12-15 03:00ID: 1513282242672221800LONDON: Turkey, Oman, Pakistan and Ethiopia are among emerging markets that could be most hurt as central banks in developed countries raise interest rates, according to a report from S&P, the credit rating agency. In its global sovereign rating outlook for 2018, S&P highlights the danger for emerging markets of accelerated interest […]

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Rising US output threatens global oil market balance in 2018

By   /  December 15, 2017  /  Business  /  Comments Off on Rising US output threatens global oil market balance in 2018

Author: REUTERSFri, 2017-12-15 03:00ID: 1513279042601912600LONDON: The global oil market will likely show a surplus in the first half of 2018, as rising US supply offsets OPEC’s discipline in maintaining its production cuts for the whole of next year, the International Energy Agency (IEA) said on Thursday.“Total supply growth could exceed demand growth: Indeed, in the first half […]

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Norwegian Air ramps up fare war with four new routes

By   /  December 15, 2017  /  Business  /  Comments Off on Norwegian Air ramps up fare war with four new routes

Author: REUTERSFri, 2017-12-15 03:00ID: 1513279042541912300NEW YORK: Norwegian Air Shuttle ASA will start flying four new routes between the US and Europe, the budget carrier said on Thursday, rapidly expanding its low-cost trans-Atlantic flights and increasing pressure on established carriers.Starting next summer, Norwegian will operate flights to Amsterdam, Madrid and Milan from New York’s John F. Kennedy International […]

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Disney to buy Fox film and TV assets for $52bn

By   /  December 15, 2017  /  Business  /  Comments Off on Disney to buy Fox film and TV assets for $52bn

Author: REUTERSFri, 2017-12-15 03:00ID: 1513279042471912000BENGALURU: Walt Disney Co. on Thursday agreed to buy film, TV and international assets from Rupert Murdoch’s Twenty-First Century Fox Inc. for $52.4 billion as Disney seeks greater scale to tackle growing competition from Netflix and Amazon.com.Under the terms of the all-stock deal, Disney acquires significant assets from Fox, including the studios that […]

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Euro zone businesses to start 2018 on near seven-year high

By   /  December 15, 2017  /  Business  /  Comments Off on Euro zone businesses to start 2018 on near seven-year high

Author: REUTERSFri, 2017-12-15 03:00ID: 1513279042331911400LONDON: Businesses across the euro zone are ending 2017 on a near seven-year high, with demand and price pressures picking up and forward-looking indicators pointing to a busy start to 2018.The results of a key private sector survey on Thursday were better than economists polled by Reuters expected, with factories marking their best […]

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North Sea deliveries halted

By   /  December 15, 2017  /  Business  /  Comments Off on North Sea deliveries halted

Author: REUTERSFri, 2017-12-15 03:00ID: 1513279042401911700LONDON: Deliveries of crude oil through the Forties pipeline in the North Sea are under force majeure for the first time in decades and operator INEOS said on Thursday there was no timeline yet for repair work that could last several weeks.The 169-km long pipeline, which carries around a quarter of all North […]

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Lebanese Cabinet approves licenses for oil drilling

By   /  December 15, 2017  /  Business  /  Comments Off on Lebanese Cabinet approves licenses for oil drilling

Author: APThu, 2017-12-14 03:00ID: 1513271570251274600BEIRUT: Lebanon’s information minister says the Cabinet has approved licenses for three international companies to carry out exploratory drilling off the Lebanese coast. Melhem Riachi told reporters after a government meeting on Thursday that all Cabinet members approved the move and said “this is a great wealth for Lebanon.” The licenses will allow […]

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