Turkey’s central bank trims inflation view

ANKARA Turkey’s central bank has cut its inflation forecasts and new governor Murat Uysal said it has “considerable” room for manoeuvre on interest rates in coming months, a week after it began an expected policy easing cycle with a big cut. Uysal — appointed this month after President Tayyip Erdogan dismissed his predecessor — also […]

ADNOC Distribution H1 net profit up 4.3%

Abu Dhabi: ADNOC Distribution, the UAE’s largest fuel and convenience retailer, on Sunday reported that its first half 2019 net profit increased by 4.3 per cent, to Dh1.173 billion, compared with the same period last year. Free cash flow (Earnings before interest, tax, depreciation and amortization (EBITDA) minus capital expenditures) generation was up 21 per […]

WeWork poised to tap JPMorgan, Goldman for IPO as fee pool grows

New York: WeWork Cos. is close to naming JPMorgan Chase & Co. and Goldman Sachs Group Inc to lead its initial public offering next month, while sweetening the fees it pays banks, according to people with knowledge of the talks. The office-sharing venture is expected to award JPMorgan the coveted first — or lead left […]