New indictment expands case against Nissan ex-chair Ghosn

Tokyo: Japanese prosecutors said Monday they have indicted Nissan’s former chairman Carlos Ghosn with fresh breach of trust charges that expand their allegations of financial misconduct outside Japan. After the indictment, Ghosn’s lawyers filed a request for his release on bail, the Tokyo District Court said. The charges filed Monday are related to payments by a […]

Dubai targets 3.8% GDP growth in Expo 2020 year

Dubai: Dubai is targeting inflation-adjusted growth of 2.1 per cent this year and followed up by 3.8 per cent in the next, on the back of Expo 2020 activities and improved foreign investment inflows. In fact, for next year, the government forecasts foreign investments to touch Dh50 billion from a 15-20 per cent gain over […]

Bahrain’s GIB establishes Saudi arm with $2b capital

Manama. Bahrain-based Gulf International Bank converted its Saudi operation into a locally incorporated bank with 7.5 billion riyals ($2 billion) capital, as the lender looks to boost its presence in the kingdom. The bank’s Saudi arm will be owned equally by GIB, as the Bahraini lender is known, and Saudi Arabia’s Public Investment Fund, according […]