Allianz expands UK general insurance with $1b in deals

Munich. Allianz SE agreed to buy two insurance businesses in the UK in deals valued at a combined $1 billion, making it the second-biggest general insurer in the country. The Munich company is set to acquire the general insurance business of Legal & General Group Plc for ÂŁ242 million ($305 million), and said it would […]

Why is China striking a defiant stance in trade war with US

Beijing: China struck a defiant stance on Saturday in response to President Donald Trump’s growing pressure on trade, blaming the United States for a breakdown in negotiations and saying it must withdraw its latest round of tariffs before a deal can be reached. In a white paper released Saturday morning, Chinese officials showed little indication […]

Global slowdown could clip Saudi growth hopes

Abu Dhabi (Reuters) Saudi Arabia’s economy is expected to pick up in 2019, but a global economic slowdown and its potential impact on the global oil market could impact growth, the Kingdom’s central bank said. Saudi Arabia’s economy grew by 2.2 per cent in 2018, driven by the oil sector, compared to a decline of […]