Turkish central bank seen holding rates until June

ANKARA: Turkey’s central bank is seen keeping its policy rate unchanged at 24 per cent next week, a Reuters poll showed on Friday, with economists expecting it to start easing in June and to cut by a total 500 basis points by year-end. The central bank hiked its policy rate by 11.25 percentage points in […]

Shell says it faces Dutch prosecution over Nigeria licence

London. Royal Dutch Shell Plc is facing prosecution in the Netherlands over a license in Nigeria, intensifying its legal troubles from a transaction that has dogged the company for years. “We have been informed by the Dutch Public Prosecutor’s Office that they are nearing the conclusion of their investigation and are preparing to prosecute,” The […]

French, Dutch ministers pledge cooperation on Air France-KLM

Paris. The French and Dutch governments moved to calm a political maelstrom triggered by their power struggle over Air France-KLM, with finance ministers pledging to work together to improve operations at the carrier. “France and the Netherlands want Air France-KLM to be the most competitive in the world,” French Finance Minister Bruno Le Maire said […]

Growing China downdraft chills Asia factory activity

TOKYO Weak demand in China and growing global fallout from the Sino-U. S. trade war took a heavier toll on factories across much of Asia in February, business surveys showed on Friday. Activity in China’s vast manufacturing sector contracted for the third straight month, pointing to more strains on its major trading partners and raising […]

Gap to split into 2, with Old Navy gaining independence

NEW YORK. Gap Inc is splitting into two. The retailer said on Thursday that it’s creating two independent publicly traded companies — low-priced juggernaut Old Navy and a yet-to-be named company, which will consist of the iconic Gap brand, Athleta, Banana Republic as well as the less-known names Athleta, Intermix and Hill City. The San […]