PG&E, owner of biggest US power utility, files for bankruptcy

Los Angeles: Power provider PG&E Corp filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in northern California in 2017 and 2018. The owner of the biggest US power utility has filed a motion seeking court approval for a $5.5 billion (Dh20.2 billion) debtor-in-possession financing, it said in a […]

IMF says higher oil prices to bolster Kuwait’s growth

Dubai: The International Monetary Fund (IMF) said on Monday Kuwait’s non-oil growth is projected to increase to about 3.5 per cent in 2020, from 2.5 per cent last year, as higher oil prices will boost capital spending. “The mission has assumed an average oil price of $57 [Dh209.36] per barrel in 201920, increasing to $60 […]

Want to learn how to code? Apple offers free lessons in Dubai

Dubai: Apple is set to offer free coding lessons to people of all ages in its Dubai stores, and worldwide, from Thursday, The coding lessons are part of a bigger initiive announced on Tuesday that will offer a new range of classes starting January 31, 2019. The hands-on group sessions will focus on photography, video, […]

Gold reaches seven-month high as dollar struggles

London: Gold climbed to a seven-month high on Tuesday and stocks were back on the up too, as investors dug in for three days of political and economic drama and a blizzard of big tech earnings, starting with Apple later. The main European and Asian markets held up well ahead of potentially galvanising events including […]

Middle East CEOs turn less optimistic on economic conditions

Dubai: Middle East chief executives’ confidence level on prospects of revenue growth has taken a drastic decline this year compared to 2018 according to PwC’s CEO survey launched at the World Economic Forum Annual Meeting in Davos. After a significant uptick in optimism last year, Middle East CEOs are more cautious about growth in the […]