New York: Exxon Mobil’s profit slid more than 5 per cent in the fourth quarter of 2019, as the oil giant dealt with weak margins in its chemical and retail fuel operations. The country’s largest oil producer posted $5.69 billion (Dh20.8 billion) in profits, or $1.33 per share, for the quarter. But those profits were […]

LONDON: BT Group said Britain’s decision to limit Huawei’s role in building 5G and fibre networks would increase the cost of its gigabit-communications plan by about £500 million over five years. Philip Jansen, chief executive of Britain’s biggest broadband and mobile provider, said he welcomed the clarity around the use of vendors such as Huawei, […]

Dubai: A new savings plan that is likely to roll out for employees across the UAE is expected to offer workers returns on their money through investments across multiple asset classes. The DIFC Employee Workplace Savings Plan (Dews) will replace the end-of-service gratuity given by employers. Instead of receiving a lump sum at the time […]

Hong Kong: Travel, tourism and property stocks tumbled in Hong Kong on Wednesday as panicked investors fretted over the economic impact of the virus in China that has now killed at least 132 and infected more people than SARS on the mainland. Dealers returned to trading floors for the first time after the Lunar New […]

Tokyo: The alliance between Nissan Motor Co., Renault SA and Mitsubishi Motors Corp. agreed to coordinate strategies and name leaders for regions and technologies in a move clearly designed to reverse managerial paralysis and a rapid deterioration in profitability over the past year. The companies’ mid-term plans will be disclosed around May, they said in […]