Apple CEO Tim Cook calls for more global trade with China
Beijing: Apple Chief Executive Tim Cook expressed support for globalisation and said China should continue to open its economy to foreign firms, while speaking at a forum in Beijing on Saturday. “I think it’s important that China continues to open itself and widens the door if you will,” said Cook, speaking at the government-sponsored China […]
Week Ahead: Market likely to see stock specific activity
The euphoria over BJP’s resounding victory in Uttar Pradesh assembly elections is likely to keep investor sentiment upbeat for some more time and this could well drive stock prices further up north on the Indian bourses in the coming week.But then, some profit taking is not unlikely, given the fact that the reporting season is […]
Weekly Wrap: Sensex hits 2-year high, Nifty scales new peak
The Indian stock market witnessed some hectic buying during the truncated week ended 17 March 2017, with the landslide victory for the Bharatiya Janata Party in the Uttar Pradesh assembly elections significantly lifting investor sentiment. The BJP won handsomely in Uttarakhand and fared exceptionally well in Goa and Manipur as well.The BJP’s stellar show in […]
G20 ministers struggle to find consensus on trade, climate
Author: Hui Min Neo, Tom Barfield | AFPSat, 2017-03-18ID: 1489817911945433400 BADEN-BADEN, Germany: Finance ministers and central bankers from top economies are battling Saturday to find common ground on world trade in the face of US President Donald Trump’s “Buy American” drive. Ministers from G20 nations have gathered in the picturesque western German spa town of Baden Baden […]
Islamic banks in GCC likely to outperform conventional counterparts: Report
Author: Arab NewsSat, 2017-03-18ID: 1489774870324474500JEDDAH: The profitability of Islamic banks in the Gulf Cooperation Council (GCC) is likely to outpace that of their conventional peers for the second consecutive year in 2017 on the back of stronger margins and the resilient cost of risk, said a report issued by Moody’s Investors Service.According to the report, Islamic banks […]
Trump wants air traffic control operations privatized
Author: The Associated PressSat, 2017-03-18ID: 1489774870304474200WASHINGTON: US President Donald Trump is calling for privatizing the nation’s air traffic control operations in his budget proposal, a top priority of the airline industry.The proposal says spinning off air traffic operations from the Federal Aviation Administration (FAA) and placing them under an “independent, non-governmental organization” would make the system “more […]
$810bn generated from taxes in Arab world
Author: Arab NewsSat, 2017-03-18ID: 1489774870254473300 JEDDAH: Revenues generated from different taxes in the Arab world amounted to around $810 billion from 2011 to 2015, according to an Al-Eqtisadiah newspaper report based on preliminary data issued by the Arab Monetary Fund (AMF). According to the AMF, tax revenues decreased in 2015 by 4.9 percent compared to 2014 due […]
Weaker dollar helps lift oil prices
Author: ReutersSat, 2017-03-18ID: 1489774870184472600LONDON: Oil prices rose on Friday, helped by a weaker dollar, as investors weighed the impact of the Organization of the Petroleum Exporting Countries (OPEC) production cuts against rising US shale oil output and persistently high inventories.Saudi Energy Minister Khalid Al-Falih said on Thursday oil output cuts by OPEC and non-OPEC producers could be […]
Japan’s exports rise at fastest pace since 2015
Author: ReutersSat, 2017-03-18ID: 1489774679974420700TOKYO: Japan’s exports probably rose at the fastest pace in two years in February thanks to a softer yen and improving global demand, a Reuters poll showed on Friday.But uncertainty over possible trade protectionist moves by the US is still clouding recovery prospects for the world’s third-largest economy.Exports have jumped 10.6 percent in February […]
Cathay pledges to slash staff costs
Author: AFPSat, 2017-03-18ID: 1489774679954420400HONG KONG: Hong Kong’s troubled flagship airline Cathay Pacific said Friday it would slash staff costs by 30 percent as part of a major overhaul as it struggles to repair its bottom line.The announcement came two days after the firm posted its first annual net loss in eight years, saying it had been hit […]
