UK business activity slows on supply crunch: survey

Britain’s private sector business activity slowed sharply in August due to ongoing staff and supply shortages, a survey showed Monday.
23 August 2021, 18:00 PM

Iran is ready to ship more fuel to Lebanon if needed: Iran

Iran said on Monday it is ready to ship more fuel to Lebanon if needed, a day after the leader of Lebanon’s Iran-aligned Hezbollah group said more vessels carrying Iranian fuel would sail soon to help ease the country’s fuel shortage. 
23 August 2021, 18:00 PM

PayPal launches crypto buying and selling in UK

PayPal is launching a new service enabling its customers in the UK to buy, hold and sell cryptocurrency.
23 August 2021, 18:00 PM

Papua New Guinea resumes talks with Exxon on gas field agreement

The government of Papua New Guinea and US oil giant Exxon Mobil Corp plan to resume talks on the P’nyang natural gas project, nearly two years after negotiations broke down , Oil Search Ltd, a partner on the project, said Monday. 
23 August 2021, 18:00 PM

Dubai house prices to rise modestly

Dubai’s residential property market is on a steady course, with prices expected to rise modestly over the next couple of years, according to a Reuters poll of housing analysts who say property prices there will remain affordable during that time. 
23 August 2021, 18:00 PM

AB Volvo buys Chinese truck business for about $125.7m

AB Volvo said on Monday it had struck a deal to buy a heavy duty truck subsidiary of Jiangling Motors Corp (JMC) for about 1.1 billion Swedish crowns ($125.7 million) to make trucks in the world’s biggest vehicle market. 
23 August 2021, 18:00 PM

Yemen currency clash deepens crisis

Alongside a grinding seven-year military conflict, Yemen’s government and the Huthi rebels are locked in battle on another front--a currency war that has opened up a gulf in riyal values.
22 August 2021, 18:00 PM

Most Gulf markets rebound; Saudi falls again

Major stock markets in the Gulf mostly rebounded on Sunday, after declining in the previous session, but falling oil prices continued to weigh on Saudi Arabia where the benchmark index extended losses. 
22 August 2021, 18:00 PM

Algeria posts GDP growth of 2.3pc in Q1

Algeria’s gross domestic product (GDP) grew 2.3 per cent in the first quarter of this year helped by a better performance from the energy sector, official data showed on Saturday, after a 3.9 per cent contraction a year earlier.
22 August 2021, 18:00 PM

Russia pledges retaliation after new US sanctions

Moscow pledged retaliatory measures after a new set of sanctions imposed by the United States on a Russian ship and two companies involved in the Nord Stream 2 gas pipeline, Russia’s foreign ministry said in a statement on Saturday.
22 August 2021, 18:00 PM

Political conflict mars economy in Brazil: minister

Brazil’s Economy Minister Paulo Guedes said on Friday that political conflict is contaminating the economy and overshadowing positive news on economic growth and the prospect of a much smaller primary budget deficit next year.
22 August 2021, 18:00 PM

Crypto exchange Binance tightens money-laundering checks

Cryptocurrency exchange Binance said on Friday it would demand stricter background checks on customers to bolster efforts against money laundering, with immediate effect, a move that comes after weeks of pressure by regulators globally.
21 August 2021, 18:00 PM

Mexico wants talks with US over auto content rules

Mexico sought formal consultation with the United States on Friday over the interpretation and application of tougher content rules for vehicles set out in the USMCA trade pact.
21 August 2021, 18:00 PM

Nvidia’s $40b deal for ARM dealt blow

Nvidia Corp’s planned $40 billion acquisition of British chip designer ARM hit a major hurdle on Friday after a UK regulator found it could damage competition and weaken rivals, and required a further lengthy investigation.
21 August 2021, 18:00 PM

VW reins in production for chip shortage

German car giant Volkswagen will slash production at its main plant due to ongoing problems with the global supply of computer chips, a spokesman told AFP on Friday.
21 August 2021, 18:00 PM

Hong Kong quarantine threatens financial hub status: businesses

European business leaders have warned that Hong Kong’s stringent quarantine measures have left its residents  “indefinitely trapped” in the city, threatening its status as an international business centre.
21 August 2021, 18:00 PM

China passes tough new online privacy law

China passed a sweeping privacy law aimed at preventing businesses from collecting sensitive personal data Friday, as the country faces an uptick in internet scams and Beijing targets tech giants hoovering up personal data.
21 August 2021, 18:00 PM

EV boom is pay-dirt for factory machinery makers

The investment surge by both new and established automakers in the electric vehicle market is a bonanza for factory equipment manufacturers that supply the highly automated picks and shovels for the prospectors in the EV gold rush.
21 August 2021, 18:00 PM

Republican senator urges Biden to reappoint Powell to top Fed job

President Joe Biden should keep Jerome Powell at the helm of the Federal Reserve for another four years to build confidence in an improving economy that still faces significant risks, Senator Steve Daines said in a letter to the president on Thursday.
19 August 2021, 18:00 PM

IMF stops funds to Afghanistan

Despite its swift takeover of the government in Afghanistan, the Taliban will not have access to most of the nation’s cash and gold stocks, while the IMF announced it won’t provide aid.
19 August 2021, 18:00 PM