UK inflation hits two-year low on falling energy costs

London: British annual inflation hit a two-year low point in January, undershooting the Bank of England’s 2.0 per cent target on falling oil and other energy costs, official data showed on Wednesday. The Consumer Prices Index 12-month rate hit 1.8 per cent last month, down from 2.1 per cent in December, the Office for National […]

Renault profits plunge in first annual earnings report since Ghosn arrest

Paris: Renault profits fell sharply last year, the French automaker said Thursday in its first annual results since the shock arrest of former boss Carlos Ghosn. Net profits for 2018 plunged 37 per cent from a record 5.1 billion euros (Dh21.11 billion; $5.75 billion) the previous year, hit by a lower contribution from its Japanese […]

Hong Kong’s super rich see $20 billion in fortunes wiped out in 2018

Hong Kong: China’s slowdown, trade tensions, stock plunges and a softening of the world’s least affordable property market helped wipe some $20 billion (Dh73.5 billion) from the fortunes of Hong Kong’s wealthiest last year, Forbes has reported. The southern Chinese financial hub boasts entrenched income inequality with one of the highest concentrations of billionaires in […]