London Global oil markets are likely to remain “calm” next year as soaring production outside Opec and high inventories keep consumers comfortably supplied, the International Energy Agency said. Supplies outside Opec — driven by the US, Brazil, Norway and Guyana — will increase by 2.3 million barrels a day in 2020, almost twice the expansion […]
Washington: The US, China and other leading economies confront a massive funding gap of $15.8 trillion in 2050 to ensure lifetime financial support for their ageing populations. That’s according to a report spearheaded by former UK Financial Services Authority Chairman Adair Turner for the prestigious Group of 30, comprised of current and former policymakers. “If […]
Cairo: Egypt cut its main interest rates by a full percentage point as the lowest inflation in almost a decade allowed the central bank’s third consecutive reduction to spur investment without dimming the allure of the world’s best carry trade. The Monetary Policy Committee reduced the deposit rate to 12.25 per cent and the lending […]
Contracts with Others ( and operations). Entity Liability. Avoid Personal Liability. Entity Optimization. Legal Considerations. Employment …
According to the agreement, Shams will provide services and license renewal services through Saeed, while the latter will actively …
Dubai: DXB Entertainments (DXBE), the company behind Dubai Parks and Resorts, reported on Thursday Dh268 million in losses for the third quarter of 2019, narrowing from the Dh275 million in losses in the same period last year. The figure brings losses in the first nine months of this year to Dh717 million, an improvement from […]
SAN FRANCISCO: WeWork posted third-quarter losses of $1.25 billion (Dh4.7 billion) despite the beleaguered office space start-up nearly doubling its revenue, US media reports said Wednesday. The firm has suffered a dramatic reversal in fortunes since its $47 billion valuation at the start of the year. In the last two months WeWork cancelled its IPO […]
Southfield, Michigan: Ford Motor Co., which pioneered the racy pony-car body style 55 years ago, will use the Mustang name and insignia on an electric crossover utility vehicle coming next year. The automaker said it’s expanding the Mustang stable for the first time with a model that will lead its charge in the electric-vehicle market […]
The initiative will honor both national and international personalities of tolerance.
London: Daimler AG plans to slash headcount at its Mercedes-Benz cars division to help manage the disruptive shift to self-driving, electric cars. The job cuts are aimed at saving more than 1 billion euros ($1.1 billion) by the end of 2022, Daimler said on Thursday. The Stuttgart-based company plans to eliminate 10% of management positions […]