Frankfurt: The European Central Bank (ECB) decided on Thursday to end its lavish asset purchase scheme but otherwise kept policy broadly unchanged, promising protracted stimulus for an economy struggling with an unexpected slowdown and political turmoil. Having long flagged the end of quantitative easing, the ECB had little choice but to stop the bond buys. […]
Abu Dhabi: Emirates Steel, the largest steel producer in the UAE, has refinanced $650 million (Dh2.38 billion) of debt with a new loan and sukuk (Islamic bond), sources close to the transaction told Reuters. The company owned by Abu Dhabi’s Senaat, a state-owned investor in the emirate’s industrial sector, raised $1.3 billion in credit facilities […]
London: After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories. American-based oil refiners have been told to expect much lower shipments from the kingdom in January than in recent months […]
Mumbai, New Delhi – India has tightened rules for foreign investment in e-commerce companies to check predatory pricing and deep discounts that threatened the domestic retail industry. E-commerce companies like Amazon.com Inc and Walmart Inc.’s Flipkart, which act as a facilitator between the buyer and seller by providing an online marketplace, must treat all vendors […]
Tokyo: Japanese authorities Tuesday released on bail a Nissan executive accused of a key role in the financial misconduct case involving auto tycoon Carlos Ghosn, who remains in detention. Greg Kelly, wearing a casual zip-up jacket and looking tired, walked out of the Tokyo Detention Centre more than a month after his arrest and got […]
Dubai: The Land Rover range had the highest sales satisfaction ratings among luxury automotive brands in the UAE, followed by BMW and Infiniti, based on the authoritative J.D. Power rankings. Among mass-market car brands, Kia came in tops on the satisfaction front, edging ahead of Ford and Nissan. The Index is based on customer feedback […]
A cabinet resolution introducing fees for services offered by the Executive Office Committee for Goods and Materials Subject to Import and Export Control was announced on Wednesday in Abu Dhabi. As per the resolution, No 51 of 2018, the executive office committee will levy a fee of Dh150 on each request to obtain a permit […]
Paris: Shares in Europe’s Airbus fell on Thursday after Le Monde newspaper reported the United States had opened an investigation into allegations of corruption, raising the stakes of probes already underway in Britain and France. The French newspaper said Airbus could face record fines of several billion euros as a result of the overall case, […]
Boeing 777-300ER adorned with the Year of Zayed livery, carries 428 passengers to King Abdulaziz International Airport in Jeddah
London: Senior managers in financial services could lose their jobs if they fail to tackle bullying, homophobia and other unacceptable conduct in the workplace, Britain’ Financial Conduct Authority said on Wednesday. Under FCA rules, people must be deemed “fit and proper” to work in the finance industry in Britain, but this requirement also encompasses a […]