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Even as markets shook, many investors held steady

By   /  February 17, 2018  /  Business  /  Comments Off on Even as markets shook, many investors held steady

Author: APSat, 2018-02-17 03:00ID: 1518891262481264100NEW YORK: This month’s sell-off for stocks marked the first big test of investors’ mettle in years. And many ended up doing exactly what the experts were recommending: Hold steady.Even as stock markets tumbled around the world, putting a halt to an unusually calm and strong ride upward, many investors resisted the urge […]

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Challenging times for UAE retailers, but Dubai well positioned

By   /  February 17, 2018  /  Business  /  Comments Off on Challenging times for UAE retailers, but Dubai well positioned

Author: Richard WachmanSat, 2018-02-17 22:09ID: 1518889950401138700LONDON: Continuing weakness in UAE retail markets has been highlighted by disappointing earnings results from companies such as Dubai retailer Marka. The crash in oil prices has had a trickle-down impact on the Gulf state’s retail markets, hitting consumer confidence, consultancy group Euromonitor International said — although others see signs of hope […]

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IMF chief says ‘Why not?’ to European Monetary Fund plan

By   /  February 17, 2018  /  Business  /  Comments Off on IMF chief says ‘Why not?’ to European Monetary Fund plan

Author: REUTERSSun, 2018-02-18 20:28ID: 1518883350440411200VIENNA: International Monetary Fund chief Christine Lagarde has no objection to plans to turn the euro zone’s bailout fund into a European Monetary Fund, she said in comments published on Saturday. The European Commission has suggested transforming the role of the government-controlled European Stability Mechanism (ESM) into a full-blown European Monetary Fund under […]

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Indian police arrest three people in $1.8bn PNB fraud case

By   /  February 17, 2018  /  Business  /  Comments Off on Indian police arrest three people in $1.8bn PNB fraud case

Author: REUTERSSun, 2018-02-18 20:10ID: 1518882063010252100NEW DELHI: India’s federal police arrested two employees at Punjab National Bank believed to be at the center of a staggering $1.77 billion fraud, the first arrests so far in the country’s biggest-ever bank scam, a police source said on Saturday. The pair, Gokulnath Shetty and Manoj Kharat, are suspected of steering fraudulent […]

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Resumption of Russian flights to Cairo postponed till end of February

By   /  February 17, 2018  /  Business  /  Comments Off on Resumption of Russian flights to Cairo postponed till end of February

Author: ARAB NEWSSat, 2018-02-17 21:08ID: 1518880258440085700CAIRO: Officials at Cairo’s International Airport were informed Friday by Aeroflot, the Russian national carrier, that the resumption of Russian flights to Egypt will be postponed till the end of February. A report by the state-owned Al-Ahram newspaper said a memo from Aeroflot stated that flights will be postponed for another week […]

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US Commerce Department proposes hefty import curbs on steel, aluminum

By   /  February 17, 2018  /  Business  /  Comments Off on US Commerce Department proposes hefty import curbs on steel, aluminum

Author: REUTERSSun, 2018-02-18 19:36ID: 1518879552710004400WASHINGTON: The US Commerce Department has recommended that President Donald Trump impose steep curbs on steel and aluminum imports from China and other countries ranging from global and country-specific tariffs to broad import quotas, according to proposals released on Friday. China’s Commerce Ministry responded by saying the report was “baseless” and did not […]

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Dubai on course to outstrip pricey London’s record for building apartments

By   /  February 17, 2018  /  Business  /  Comments Off on Dubai on course to outstrip pricey London’s record for building apartments

Author: CHARLIE NEYRASat, 2018-02-17 01:16ID: 1518808381341824500LONDON: Dubai is on course to absorb more new apartments than London over the next two years, as luxury “ghost towers” threaten to haunt developers in both cities, analysts say. Brokers warn that the pair are developing luxury units far beyond the reach of average earners. In London, the average home costs […]

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Middle East property investors shrug off Brexit blues

By   /  February 17, 2018  /  Business  /  Comments Off on Middle East property investors shrug off Brexit blues

Author: CHARLIE NEYRASat, 2018-02-17 01:08ID: 1518808322421801600LONDON: The UK capital is still seeing strong interest from Middle Eastern property buyers, even as politicians in Westminster wrangle over Brexit. The lure of safe-haven London remains high, and is expected to strengthen rather than decrease, brokers said. Arab buyers are lured by currency weakness, the decline in prime central London […]

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Coca-Cola reports 20 percent drop in 4Q revenue in Middle East, Africa

By   /  February 17, 2018  /  Business  /  Comments Off on Coca-Cola reports 20 percent drop in 4Q revenue in Middle East, Africa

Author: RICHARD WACHMANSat, 2018-02-17 01:06ID: 1518808274761789400LONDON: The red ink flowed at Coca-Cola in the fourth quarter as the ubiquitous US drinks company restructured its operations, took a one-off hefty tax charge and saw volumes fall in the Middle and Africa “due to macroeconomic challenges and strategic pack downsizing initiatives.” The company said “unit case volumes” saw “declines […]

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Boeing’s 737 MAX-9 plane wins FAA approval after US green light

By   /  February 17, 2018  /  Business  /  Comments Off on Boeing’s 737 MAX-9 plane wins FAA approval after US green light

Author: ARAB NEWSSat, 2018-02-17 01:04ID: 1518808237511776900LONDON: Boeing said on Friday that US authorities had officially certified its 737 MAX-9 aircraft for commercial service. The aircraft received an amended type certificate (ATC) from the US Federal Aviation Administration (FAA), the world’s largest plane maker said in a statement. “Our teams built superior capabilities into the MAX-9 and proved […]

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