Egypt returns to LNG exports club seeking to sell cargoes

Singapore Egypt indicated it’s ready to rejoin the club of major exporters of liquefied natural gas, making its biggest offer to supply the market in at least five years. The state gas company EGAS tendered to sell four cargoes of LNG for loading in April, people with direct knowledge of the matter said. The bids […]

China premier says can use interest rates, other policy steps to help economy

BEIJING: China can use reserve requirements and interest rates to support economic growth, Premier Li Keqiang said on Friday, promising broad policy steps to prevent a sharper slowdown for the world’s second-biggest economy. Li’s comments suggest Beijing is ready to roll out more forceful stimulus measures to ease strains on businesses and consumers. China has […]

Turkish unemployment surges to 13.5 per cent, highest in nine years

ISTANBUL Turkey’s unemployment rate jumped to 13.5 per cent in the November-January period, its highest level in nine years, official data showed on Friday, in a fresh sign of the impact of last year’s currency crisis. The economy contracted a sharper than expected 3 per cent in the fourth quarter of 2018, its worst performance […]

VW to shrink workforce by 7,000 positions

Berlin: Volkswagen AG’s main car brand plans to deepen cost cuts and axe more jobs as profits slip in the industry’s shift to electric and self-driving cars. The German carmaker said on Wednesday it will eliminate as many as 7,000 positions — with measures including early retirement and not filling vacant positions — to achieve […]

UK won’t apply tariffs on most goods in no-deal Brexit

The UK will avoid imposing tariffs on most imported goods in the event of a no-deal Brexit, though officials said prices of key European Union products including beef, cheese and cars will rise. The government said Wednesday its “balanced approach” aims to offset a spike in prices that consumers would experience in a no-deal departure […]