At 20, euro is currency giant on fragile footing

FRANKFURT The euro turns 20 on Tuesday, marking two tumultuous decades that saw the single currency survive a make-or-break crisis and become a fixture in financial markets and Europeans’ wallets. But it is destined to remain a fragile giant without closer Eurozone integration, observers say. Born on January 1, 1999, the euro initially existed only […]

Trade wars cost US, China billions of dollars each in 2018

Chicago: The US-China trade war resulted in billions of dollars of losses for both sides in 2018, hitting industries including autos, technology — and above all, agriculture. Broad pain from trade tariffs outlined by several economists shows that, while specialised industries including US soybean crushing benefited from the dispute, it had an overall detrimental impact […]

Human skull, llama rental and Cher tickets among craziest business expenses

Los Angeles: If you’ve ever fretted about submitting a strange business expense to your bosses, you can take comfort knowing that your purchase was probably not as wacky as buying a human skull or renting a llama. Those were among the craziest expenses submitted in the United States over the last five years, according to […]

In battle over Johnson’s baby powder, asbestos opens a new legal front

The memos were concise and direct. An executive at Johnson & Johnson said the main ingredient in its best-selling baby powder could potentially be contaminated by asbestos, the dangerous mineral that can cause cancer. He recommended to senior staff in 1971 that the company “upgrade” its quality control of talc. Two years later, another executive […]

Egypt to have strongest economic growth in Arab world

Dubai: Egypt is expected to have the strongest economic growth in the Arab world in 2019, economists said on Wednesday, with World Bank forecasts pointing to a rate of between 5 and 6 per cent. Mahmoud Mohieldin, senior vice president of the World Bank Group, said Egypt’s economic growth rate will be more than twice […]