GM set to revive Hummer brand with electric truck and SUV

Southfield, Michigan: General Motors Co. is moving forward with plans to revive its polarising Hummer brand, this time as an electric truck instead of an emblem of gasoline consumption, according to people familiar with the matter. The Detroit automaker plans to debut a pickup around 2022 with boxy styling cues reminiscent of the Hummers of […]

India asset sales to fall short of target by nearly 50%

New Delhi: India’s plan to sell $14.7 billion of government-owned assets to plug its budget deficit is seen falling short by nearly half, according to people familiar with the matter. Receipts from disinvestment in the year to March are expected to be between Rs500 billion (Dh25.6 billion, $7 billion) and Rs600 billion against the target […]

Room for more Egypt rate cuts even as inflation accelerates

Cairo: Inflation in urban parts of Egypt accelerated for the second consecutive month in December, but at a pace that still gives the central bank ample room to cut borrowing costs again. The annual rate quickened to 7.1 per cent in December, compared with 3.6 per cent the previous month, the state-run statistics agency, CAPMAS, […]