Business » World

Tuesday, 20 January 2015

In Brief

2015-01-20 Dubai’s virtual online tour of the Gulf boomtownDUBAI: Armchair travelers can now take a virtual tour of Dubai skyscraper rooftops, glitzy hotel interiors and other sights in the Middle East’s brashest city on their laptops or tablets. Developers...

‘Saudi Arabia can last eight years on low oil prices’

2015-01-20 A FORMER adviser to Saudi Arabia has said the country can withstand eight years or more of low oil prices as tensions over the price slump simmered between the world’s biggest oil exporter and Iran. Mohammad al-Sabban told the BBC that Saudi...

Oil price plunge drags down Russian economy

2015-01-20 RUSSIA’S battered economy will shrink by a far worse-than-expected 4.8 per cent this year, as plunging oil prices add to fallout from the Ukraine crisis, the EBRD development bank forecast on Monday.The London-based European Bank for Reconstruction...

Gulf SWFs may pull funds from markets

2015-01-20 PLUNGING oil prices could prompt Gulf Arab sovereign wealth funds to pull tens of billions of dollars out of global markets this year, with much of the money expected to come out of US dollar debt and deposits with banks abroad.But – in a crucial...

Davos predictions: win some, lose some

2015-01-20 AS THE world’s business and political elite ascends the Swiss Alps for an annual bout of crystal-ball gazing this week, history suggests the Davos pundits are likely to get plenty of things wrong.More than 1,500 business leaders and 40 heads of...

Monday, 19 January 2015

Oil slump slashes Saudi Basic Industries’ profit

2015-01-19 SAUDI Basic Industries Corp (SABIC), one of the world’s largest petrochemicals groups, reported a 29 per cent plunge in fourth-quarter net income on Sunday, widely missing analysts’ forecasts because of the tumble of global oil prices.Chief...

Hiring spree hints at Facebook’s ambitions plans

2015-01-19 VIRTUAL reality goggles, drones and data centers are all driving a hiring spree at Facebook Inc that is set to swell its ranks as much as 14 per cent in the near term, according to a review of job listings on the company’s website.The Internet...

Credit Suisse to charge companies for franc deposits

2015-01-19 CREDIT Suisse said on Sunday it planned to start charging institutional and large corporate clients for Swiss franc accounts following a move by the Swiss National Bank to introduce negative interest rates.The Swiss central bank announced in...

Spain’s Rajoy raises new jobs forecast as election nears

2015-01-19 SPAIN will have created around one million jobs in two years by the end of 2015, Prime Minister Mariano Rajoy said in an interview published on Sunday, more than initially predicted by the government, which is banking on a growing economic recovery...

Tough times ahead post commodity shakeout

2015-01-19 AFTER one of the worst years in memory for commodity funds, even the few managers who found a way to make money last year say they expect a difficult start to 2015.Collapsing oil and grain prices caused havoc for commodity funds in 2014, with the...

Germany’s textile machinery sector keen on ASEAN

2015-01-19 GERMANY’S textile machinery industry is interested in tapping the huge ASEAN market besides focusing on China and India, says Elgar Straub, Managing Director German Machinery Manufacturers’ Association. He said the German textile industry had in...

Tesco comes back more competitive

2015-01-19 FOUR months into the job, Tesco boss Dave Lewis has wasted no time imposing a range of price cuts and customer service improvements designed to regain the initiative in a tough market. There are already signs customers are noticing.Despite the...

Saturday, 17 January 2015

Japan to weigh possible law revisions in wake of Takata recalls

2015-01-17 JAPANESE Transport Minister Akihiro Ohta said yesterday his ministry was considering whether to revise existing laws to beef up oversight of auto parts suppliers in the wake of massive recalls of auto parts maker Takata Corp’s air bags.“Until now,...

StanChart eyes bank stake sales as it tries to slim down

2015-01-17 STANDARD Chartered’s abrupt move to shut its global equities business last week could be a prelude to the lender selling off stakes in a number of Asian banks as it looks to boost capital, people familiar with the lender’s thinking said.The most...

France, Singapore step up fight against tax cheats

2015-01-17 FRANCE lauded Singapore for entering into a new pact that tightens measures against foreign tax cheats seeking to hide their assets in the Asian financial hub.The revised agreement on double taxation, signed late Thursday by French Finance Minister...

Stronger franc hits Swiss central bank

2015-01-17 SWITZERLAND’S central bank came under fire at home and abroad yesterday after scrapping its bid to stop the franc rising, which wrecked havoc on global markets and bankrupted several foreign exchange traders. A brokerage firm in Britain and...

Friday, 16 January 2015

In Brief

2015-01-16 Indonesian central bank keeps rate steady at 7.5%JAKARTA: The Indonesian central bank yesterday held its benchmark interest rate unchanged at 7.75 per cent for the second time as it is still consistent with the effort to reach the inflation target...

Oil price plunge could leave helicopters sputtering

2015-01-16   TUMBLING oil prices are starting to ripple through the helicopter industry, which depends on oil companies that shuttle their crews to off-shore sites for a big chunk of its business. Off-shore oil drilling and production in regions such as the...

BP, Conoco to cut North Sea jobs

2015-01-16 OIL majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world’s most expensive exploration areas as oil prices tumble.Although the cuts are relatively small for...

Thursday, 15 January 2015

Shell halts US$6.4b Qatar petrochemical project

2015-01-15 QATAR Petroleum and Shell said they had decided not to proceed with their US$6.4 billion Al Karaana petrochemical project in the Gulf state, the region’s second big energy project to be shelved since oil prices began to plunge late last year....

Pages