Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the US will impose punitive tariffs this year, a French diplomat said. “Great discussion with @realDonaldTrump on digital tax,” Macron said Monday in a tweet. “We will work together on a good agreement […]

DAVOS: The United States has no hard deadline to conclude the next phase of trade talks with China, but tariffs would not be cut until the next round, Treasury Secretary Steven Mnuchin said. “As related to phase 2, I would say there is no deadline,” Mnuchin said at the World Economic Forum on Wednesday. “The […]

Tokyo: Nissan Motor Co. will go bankrupt within two to three years, Carlos Ghosn told a defence attorney during more than 10 hours of interviews before the auto executive skipped bail and left Japan. The former chairman and chief executive officer of Nissan Motor Co. and Renault SA made the prediction last year in a […]

Toronto: Air Canada sank by the most in 13 months as the Centers for Disease Control and Prevention said the first case of the Wuhan coronavirus has appeared in the US The stock fell 4.5 per cent, its biggest drop since December 2018 amid reports that a person in Washington state had the virus. The […]

Dubai: Amazon remains the world’s most valuable brand for a third consecutive year – but this time it’s brand value has crossed the “so far unattainable” $200 billion mark. Among Middle East brands, Etisalat also scored a hat-trick as the most valuable business-to-consumer label. It was also the “strongest” telecom brand in the region, according […]

Kong Kong: HSBC Holdings Plc and other major corporations operating in China are limiting travel and foregoing long-held traditions around Lunar New Year to protect their employees against a growing deadly virus outbreak. The bank is among a number of firms restricting non-essential travel to Wuhan, the epicentre of the contagion that so far has […]

Dubai: Shuaa Capital said on Wednesday that along with other parties, it priced and issued Bahrain-based GFH Financial’s five-year sukuk at $300 million. Shuaa, an asset management and investment banking platform that recently merged with Abu Dhabi Financial Group (ADFG), said the sale of the Islamic bond held on January 21 was more than twice […]

The world’s richest 1% have more than twice the wealth of the rest of humanity combined, according to Oxfam, which called on governments to adopt “inequality-busting policies.” In a report published ahead of the World Economic Forum’s annual meeting in Davos, the U.K.-based charity said governments are “massively under-taxing” rich individuals and corporations, and under-funding […]