• Iran: Oil product exports hit record high despite US sanctions
    Author: ReutersID: 1611308046113325800Fri, 2021-01-22 09:10 DUBAI: Iran has achieved record high exports of petroleum products despite US sanctions, Oil Minister Bijan Zanganeh said in televised remarks on Friday. Zanganeh said former US President Donald Trump and his secretary of state, Mike Pompeo, had “joined the dustbin of history, but we are alive and working with more hope […]
  • Bitcoin heads for worst weekly loss in months
    Author: ReutersID: 1611295860752977700Fri, 2021-01-22 06:07 SINGAPORE: Bitcoin wavered on Friday and was heading toward its sharpest weekly drop since September, as worries over regulation and its frothy rally drove a pullback from recent record highs. The world’s most popular cryptocurrency fell more than 5 percent to an almost three-week low of $28,800 early in the Asia session, […]
  • Intel avoids outsourcing embrace, investigates hack of results
    Author: ReutersID: 1611281014572437600Fri, 2021-01-22 05:52 The incoming chief executive of Intel Corp. said on Thursday that most of the company’s 2023 products will be made in Intel factories but he sketched a dual-track future in which it will lean more heavily on outside factories. The lack of a strong embrace of outsourcing from new CEO Pat Gelsinger […]
  • Norwegian Air gets government backing for survival plan
    Fri, 2021-01-22 04:22 OSLO, Norway:  The Norwegian state said on Thursday it was ready to offer aid to Norwegian Air, after the ailing low-cost airline presented a new plan to survive its COVID-induced crisis. Hit hard by the COVID-19 pandemic’s impact on travel, having already been in financial trouble before, Norwegian applied for bankruptcy protection […]
  • Jack Ma video reappearance fails to soothe all investor concerns
    Author: Fri, 2021-01-22 03:16 HONG KONG: Billionaire Jack Ma’s 50-second video reappearance has done little to resolve Alibaba Group’s troubled relationship with regulators that is making some investors hesitate about owning the Chinese e-commerce giant’s stock. Relief at Ma’s first public appearance added $58 billion in market value on Wednesday as Alibaba’s Hong Kong-listed stock soared, though […]
  • German startup to help Saudi hotels utilize empty spaces
    Author: Thu, 2021-01-21 23:41 RIYADH: A German start-up established during the coronavirus disease (COVID-19) pandemic to help hotels overcome a slump in occupancy rates is now working in Saudi Arabia. NeuSpace aims to assist operators in coming up with new ways to generate revenue from their empty spaces. Anne Schaeflein, a co-founder of the Dusseldorf-based company, […]
  • Deutsche Bank appoints new manager to Riyadh branch
    Author: Thu, 2021-01-21 21:26 JEDDAH: Deutsche Bank, Germany’s biggest bank, has appointed Thamer Saleh Al-Sedais as general manager of its Riyadh branch. He will oversee its business activities regulated by the Saudi Central Bank, and will facilitate the ongoing delivery of Deutsche Bank’s products and services to its clients based in the Kingdom. The German lender […]
  • UAE telcos Etisalat, du raise foreign ownership to 49%
    Fri, 2021-01-22 02:49 DUBAI: Emirati telecom operators Etisalat and du have raised the ownership limit of foreign nationals to 49 percent. The announcement followed two simultaneous regulatory filings with the Abu Dhabi Securities Exchange and Dubai Financial Market, where the companies’ shares are traded. Etisalat announced that its board of directors had agreed to increase the […]
  • First Abu Dhabi Bank acquires Bank Audi Egypt
    Thu, 2021-01-21 21:43 CAIRO: First Abu Dhabi Bank and Bank Audi Lebanon have announced the signing of a final agreement to acquire 100 percent of Bank Audi Egypt’s capital. The two banks said in a joint statement that the acquisition agreement came after the completion of an in-depth data-checking process and due diligence examination by First […]
  • KLM to cut 1,000 more jobs, says mandatory COVID-19 testing will ground planes
    Author: ReutersID: 1611244705666645200Thu, 2021-01-21 15:26 AMSTERDAM: KLM said it would cut an additional 1,000 jobs in 2021 and warned on Thursday that government plans to require all passengers and crew to pass a COVID-19 test before flying to the Netherlands would ground its long-haul flights. KLM, which already cut 5,000 jobs last year, joined other airlines operating […]


  • Biden executive orders target federal minimum wage and food insecurity
    Actions aim to help American families and workers struggling with economic toll of Covid-19Joe Biden on Friday will sign a pair of executive orders aimed at providing immediate relief to millions of American families grappling with the economic toll of the Covid-19 pandemic and expanding safety protections for federal workers. Related: Biden warns Covid will […]
  • Fears of UK double-dip recession rise as activity slumps in Covid-19 lockdown
    Service sector hit hard by closure of shops and restaurants as manufacturing also suffersCoronavirus – latest updatesSee all our coronavirus coverageFears that the UK economy is facing a double-dip recession have intensified after a poor Christmas for retailers was followed by a slump in activity in January as tougher lockdown measures took effect.In a triple-whammy […]
  • As Covid cases spike, Dubai works to keep its economy open
    For an emirate dependent on trade, transport and tourism, vaccination, not lockdown, is key to keeping its economy goingAs if the Boohoo online fashion company had not generated enough controversy in recent months, its bosses once again found themselves in the headlines last week for hosting a four-day meeting with suppliers in the luxurious surroundings […]
  • UK government borrowing hits highest December level on record
    Increase of £34.1bn last month takes budget deficit to nearly £271bn for the first nine months of financial yearSunak has little choice but to delay budget deficit plansCoronavirus – latest updatesSee all our coronavirus coverageUK government borrowing hit its highest December level on record as spending soared in response to the coronavirus pandemic coupled with […]
  • Low-paid workers in UK more than twice as likely to lose job in pandemic
    Job opportunities increasing for higher-paid staff in sign of growing inequalityThe UK’s lowest-paid workers are more than twice as likely to have lost their jobs in the coronavirus pandemic than higher-paid employees, according to a study revealing rising inequality amid the crisis.The Institute for Employment Studies said one in 20 low-paid workers had fallen out […]
  • Pound rallies amid US stimulus hopes; US jobless claims dip – as it happened
    Rolling coverage of the latest economic and financial newsLatest: US initial jobless claims drop, but still highUK factories fear supply and labour shortagesMarkets rally on Biden $1.9trn stimulus hopesWall Street hit record highs last nightPound at eight-month high vs euro; 32-month high vs dollar 5.10pm GMT Time to wrap upThe pound has jumped to its […]
  • UK inflation rises to 0.6%; London average house price exceeds £500,000 – as it happened
    Rolling coverage of the latest economic and financial newsLatest: Wall Street at record highs on Inauguration DayLondon house prices hit fresh record over £500kExperts: Stamp duty holiday fuels prices, for now....Earlier:Transport, clothing and recreation costs lift inflationEconomists predict inflation will rise as pandemic eases 4.18pm GMT With all eyes on the US inauguration, it’s time […]
  • A return to 'nasty' politics: Politics Weekly podcast
    Heather Stewart and Peter Walker discuss the latest on the vaccine rollout and universal credit. Severin Carrell examines the upcoming Scottish Labour leadership contest. Plus, Miatta Fahnbulleh and Will Tanner discuss ‘levelling up’On Monday night, six Tory MPs defied calls from the prime minister to abstain from a Labour opposition day debate on the planned […]
  • UK inflation jumped in December as shoppers returned to high street
    Increase in transport costs and computer games console prices flagged up by ONSCoronavirus – latest updatesSee all our coronavirus coverageThe annual rate of inflation rose to 0.6% in December from 0.3% in the previous month as shoppers returned to the high street in most parts of the UK after the end of the second lockdown.The […]
  • MPs demand answers over lack of Covid support for self-employed
    Too many excluded from government’s furlough and other support schemes, committee saysCoronavirus – latest updatesSee all our coronavirus coverageParliament’s spending watchdog has called on the government to explain and fix issues with the tax system that have denied whole groups of freelancers and self-employed workers financial support during the coronavirus pandemic.The powerful cross-party public accounts […]

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