Dubai: Negotiate with banks to reduce debts and close non-performing subsidiaries represent parts of the restructuring plan that Drake & Scull International has put to its shareholders. But there is nothing so far about a new capital infusion from its main shareholder or some other way to inject funds to oversee operations. All that DSI […]

Their Highnesses exchanged greetings on the advent of the holy month of Ramadan.

Police patrols and ambulances were immediately dispatched to the site of the accident.

LONDON: British annual house price growth picked up more than expected last month to hit its highest in over two years, mortgage lender Halifax said on Wednesday, contrasting with other signs of a muted housing market. House prices in the three months to April stood 5.0 per cent higher than a year ago, the strongest […]

Berlin: BMW AG’s automotive division swung to a loss for the first time in a decade as car prices slumped and a legal provision over alleged collusion ballooned to 1.4 billion euros (Dh5.88 billion; $1.6 billion). Excluding the provision, earnings at the carmaker’s main unit fell by 42 per cent to 1.1 billion euros. Price […]

New York: Thomson Reuters Corp on Wednesday reported stronger-than-expected quarterly profit and reaffirmed its forecast for the rest of this year and 2020. The news and information provider and parent of Reuters News reported earnings excluding special items of 36 cents per share, compared with 28 cents per share a year ago. That was above […]

Arif Naqvi, the Abraaj Group founder caught up in a US fraud probe, is still being held in UK jail days after he won bail – because he hasn’t paid the 15 million-pound ($20 million) security bond. Naqvi can be released once he pays, a London court ruled on Friday. But Westminster Magistrates’ Court confirmed […]

Istanbul: The Turkish lira is under renewed pressure and for some investors that means only one thing: the central bank may have to raise interest rates again. As the currency tumbled to a seven-month low on Tuesday, Credit Agricole SA warned of a “vicious cycle” that leads to higher inflation and tighter monetary policy. TD […]