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Tuesday, June 27, 2017

BUSINESS

Uber’s revenue hits $6.5 billion in 2016, still has large loss

Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the company said on...

U.S. retail sales, inflation data highlight weak first quarter growth

NEW YORK: U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over...

New Silk Road, first train from London leaves for China

LONDON: The journey to connect London to China by reviving the old silk road  under China’s One Belt, One Road initiative started with the first...

India offers $10 billion investment, $5 billion loan to Bangladesh

NEW DELHI: India will invest up to $10 billion in Bangladeshi sectors including infrastructure and medicine and will provide $5 billion in loans, including...

Oil climbs after reports that Saudi Arabia wants output cuts extended

LONDON: Crude oil prices turned positive on Tuesday, reversing course on reports that Saudi Arabia has told OPEC officials it wants to continue output...

Rio Tinto pays $4 billion in 2016 taxes

LONDON: Mining giant Rio Tinto Ltd said on Sunday it paid $4 billion (3 billion pounds) in taxes and royalties globally in 2016, a 12...

Work on South Africa’s $72 billion nuclear plant to start in June

JOHANNESBURG: South Africa's tender for the estimated 1 trillion-rand ($72 billion) expansion of its nuclear power plants will begin in June when state utility Eskom...

London’s financial sector has improved since Brexit trigger

LONDON: The outlook for London's financial sector has improved since Brexit was triggered, insists the man charged with its policy, even as banks remain...

MARKETS

TECH

Silk Road Initiative Offers Economic Benefits from China to Europe

Introduction In 1948, the US made one of the best and most successful decisions in its foreign policy history. It approved the Marshall Plan to...

From Aid to Trade: Getting Afghanistan on its economic feet

LONDON: On 23rd June 2015, Christopher Kolenda, a good friend, senior military fellow at King’s College London and former adviser to General McChrystal, presented...

The art of ethically influencing people

Sorry, no tips, tricks or techniques here but let’s talk about what it takes to become a master persuader. Saying there are tips, tricks...

POLITICS

India offers $10 billion investment, $5 billion loan to Bangladesh

NEW DELHI: India will invest up to $10 billion in Bangladeshi sectors including infrastructure and medicine and will provide $5 billion in loans, including...

Ukraine to receive $1 billion from IMF, Poroshenko

KIEV: The International Monetary Fund (IMF) has approved $1 billion loan payment to Ukraine, the Ukrainian President Petro Poroshenko has announced on Monday. Poroshenko wrote...

China is creating new economic zone outside Beijing

BEIJING: China will create a new special economic zone outside Beijing similar to those established in Shenzhen and Shanghai, the government said, in a...

Wall Street dips in dramatic session as health bill pulled

NEW YORK: A dramatic session on Wall Street ended with stocks slightly lower on Friday as they pared losses in late-afternoon trading after Republicans...

Saudis to tighten curbs on foreign workers in local jobs push

RIYADH: Saudi Arabia plans to tighten restrictions on foreign workers to pressure companies into hiring more Saudi citizens and reduce unemployment among Saudis, government...

Abe, Merkel call for open markets

HANOVER: German Chancellor Angela Merkel and Japan's Prime Minister Shinzo Abe issued a staunch joint defence of free trade Sunday, as the United States...

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ENTREPRENEURSHIP

Uber’s revenue hits $6.5 billion in 2016, still has large loss

Ride-hailing service Uber Technologies Inc generated $6.5 billion in revenue last year and its gross bookings doubled to $20 billion, the company said on...

U.S. retail sales, inflation data highlight weak first quarter growth

NEW YORK: U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over...

New Silk Road, first train from London leaves for China

LONDON: The journey to connect London to China by reviving the old silk road  under China’s One Belt, One Road initiative started with the first...

Work on South Africa’s $72 billion nuclear plant to start in...

JOHANNESBURG: South Africa's tender for the estimated 1 trillion-rand ($72 billion) expansion of its nuclear power plants will begin in June when state utility Eskom...

London’s financial sector has improved since Brexit trigger

LONDON: The outlook for London's financial sector has improved since Brexit was triggered, insists the man charged with its policy, even as banks remain...

LIFESTYLE

Brazilians glued to TV screens over corruption claims

BRASILIA: Brazilians are glued to a mesmerizing, disturbing new version of reality TV: back-to-back broadcasts of jailed executives accusing President Michel Temer and almost...

The Billionaire Capital of the World Named

LONDON: Beijing has beaten New York City for the second year in a row to become the "Billionaire Capital of the World", according to...

How did the Oscars mix-up happen

LOS ANGELES: Not every show gets to be its own blooper reel, but Sunday night’s Academy Awards pulled it off, as Faye Dunaway mistakenly...

SpaceX to send two people to moon in 2018

WASHINGTON: SpaceX is planning to send two private citizens on a flight around the moon next year, a bold mission that will be the first...

Venice Carnival “flight of the angel” begins

VENICE: Tens of thousands of revellers in masks and period costume packed St Mark's Square on Sunday for the "flight of the angel", the...

DON'T MISS

Uber hires NASA engineer to develop flying cars

SAN FRANCISCO: Uber is making moves to expand the scope of its flying car experiment – the company just hired NASA engineer Mark Moore. Moore,...

A gentleman’s guide to getting beach body

DUBAI: Just as abs are made in the kitchen, beach bodies are built in January – or at least the foundations laid. Like most clichés,...

China’s oil giant signs $1.77 bn Abu Dhabi deal

ABU DHABI: The China National Petroleum Corporation on Sunday secured an eight-percent share in an onshore oil concession in Abu Dhabi in a deal...

The Ukraine conflict: Five things to know

KIEV: The war between Kiev and Moscow-backed rebels has killed more than 10,000 people, rattled eastern Europe and plunged relations between the West and...

From Aid to Trade: Getting Afghanistan on its economic feet

LONDON: On 23rd June 2015, Christopher Kolenda, a good friend, senior military fellow at King’s College London and former adviser to General McChrystal, presented...

Morgan Stanley, UBS to raise stakes in China securities JVs to 49 percent: sources

BEIJING: Morgan Stanley (MS.N) and UBS Group AG (UBSG.S) are set to raise holdings in their separate Chinese securities joint ventures to 49 percent,...

Islamic countries refuse to stand up for Muslims against Trump

WASHINGTON: At a time when Jews, Christians, Hindus, Buddhists, members of LGBT community and even Atheists came out across the globe to stand up in solidarity...

China becomes the world’s biggest solar power producer

HONG KONG: China's installed photovoltaic (PV) capacity more than doubled last year, turning the country into the world's biggest producer of solar energy by...

S.Africa and EU fight over chicken meat ‘dumping’

PRETORIA: South Africa's poultry industry says it is on the brink of collapse due to hotly-denied accusations that the European Union is dumping cheap...

PetroChina aims for 7 percent boost in 2017 natural gas sales

BEIJIN: China's biggest energy giant PetroChina aims to achieve sales of 150 billion cubic meters of natural gas this year, up from about 140...

Alibaba Group expands into Australia and New Zealand

MELBOURNE: Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks...

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