$13b debt now in focus after collapse of Tata Steel-Thyssenkrupp deal

Mumbai: The collapse of Tata Steel Ltd.’s planned joint venture with Thyssenkrupp AG has brought the Indian group’s more than $13 billion of debt in focus, with no immediate prospect of its European unit being hived off. The deal would have transferred some of the debt to the joint venture, allowing the Mumbai-based company to […]

China auto sales slump continues in April

SHANGHAI: China car sales fell 14.6 per cent in April, an official industry association said on Monday, extending a slump in a massive auto market that has long been a cash cow for the industry. Sales fell to 1.98 million last month, according to figures from the China Association of Automobile Manufacturers (CAAM). Fuelled by […]

92% of UAE residents plan to save money in 2019

In a world plagued with insecurities, the importance of regular savings cannot be stressed enough, allowing one to remain financially secure and providing a safety net in case of emergencies. In the UAE, more residents have resolved to start saving money this year, according to the latest Savings Index from National Bonds. Savings trend rises […]