Oil prices look to US-China trade deal for momentum

Abu Dhabi: US-China trade talks on a potential phase one trade deal will continue to be the main driver of oil prices, with markets on Monday opening with some gains on the back of renewed optimism on a deal, said analysts. “Oil markets remain spellbound by US-China trade headlines … After recording greater than 1 […]

Westpac still under fire as advisers say directors must go

Sydney: Westpac Banking Corp. remains under pressure over a money-laundering scandal even after the resignation of its chief executive officer, with powerful shareholder advisers calling for more changes to the board. Institutional Shareholder Services Inc, which has about 2,000 institutional clients globally, is recommending a vote against the re-election of directors Nerida Caesar and Peter […]

Modi needs rivals’ help to meet $3t spending target

Prime Minister Narendra Modi must invest trillions of dollars on roads and other critical infrastructure if he’s to pull India’s economy out of its slump, with at least half coming from provincial governments that are out of his control. India will need to spend 235 trillion rupees ($3.3 trillion) on infrastructure over the coming decade […]

Toyota, Ford top in J.D. Power UAE rankings

Dubai: Toyota owners in the UAE had the highest sales satisfaction among mass-market auto brands, with Ford coming in second and Chevrolet in third spot, according to the latest J.D. Power rankings. Among luxury car brands, the highest score was given by Mercedes-Benz buyers, with Infiniti and Lexus taking the next two spots. Dealerships, which […]

Manchester City’s owner selling stake: City Football Group announces $500m investment by Silver Lake

Dubai: Manchester City owner City Football Group agreed to sell a more than 10 per cent stake to Silver Lake a private equity investor in the soccer team for about $500 million. The deal values City Football Group at US$4.8B post-investment. CFG is the owner of football clubs and related businesses, including Premier League Champions […]