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Buffett’s buying shows hunger for stocks, including his own

Buffett’s buying shows hunger for stocks, including his own

Cans of Coca-Cola Co. bearing a likeness of Warren Buffett sit in a bucket. (Bloomberg pic) NEW YORK: The world’s most famous stock-picker showed a growing appetite for equities in the third quarter — including a rare move to buy his own firm’s shares. Now, October’s market slide opens the door for Warren Buffett to […]

November 4, 2018 | By | Reply More
Israel announces new oil and gas exploration round in eastern Med

Israel announces new oil and gas exploration round in eastern Med

An illustrative photo of a natural gas rig. (AFP pic) JERUSALEM: Israel will tender off 19 new offshore blocks to oil and gas companies, its energy ministry said on Sunday, hoping to rebound from a disappointing bidding round a year ago. Israel discovered in 2009 that it had large reserves of natural gas off its […]

November 4, 2018 | By | Reply More
Emirates seeks Rolls-Royce A380 engine deal, nothing finalised

Emirates seeks Rolls-Royce A380 engine deal, nothing finalised

An Emirates Airline aircraft. (AFP pic) DUBAI: Emirates is edging towards a deal with Rolls-Royce to power its latest Airbus A380 superjumbos but has not yet reached a final agreement, the Dubai-based airline said on Sunday. The fate of a lifeline order for up to 36 of the double-decker aircraft, of which Emirates already has […]

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Big Short’s Eisman is betting against two UK banks on Brexit

Big Short’s Eisman is betting against two UK banks on Brexit

Steve Eisman, managing director of Neuberger Berman Group LLC. (Bloomberg pic) DUBAI: Steve Eisman, the Neuberger Berman Group money manager who famously predicted the collapse of subprime mortgages before the 2008 financial crisis, is shorting two UK banks over expectations the country will leave the European Union without a trade deal. The UK is one […]

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Major companies urged to stop telling anti-slavery ‘fairytales’

Major companies urged to stop telling anti-slavery ‘fairytales’

Migrant workers harvest strawberries at a farm near Oxnard, California. (AFP pic) NEW HAVEN: Major corporations who claim to be committed to tackling the threat of forced labour often tell “fairytales” that belie workplace exploitation and shirk responsibility for cleaning up their supply chains, academics and activists told a conference. From tea and chocolate makers […]

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Eyeing Saudi riches, Wall Street gets back to business as usual

Eyeing Saudi riches, Wall Street gets back to business as usual

While the Khashoggi affair has dented the image of reformer and modernizer cultivated by 33-year-old Crown Prince Mohammed bin Salman, there is simply too much money at stake. (Bloomberg pic) DUBAI: For a moment, Wall Street seemed to be inching away from Saudi Arabia. Now, it’s already inching back. A month after the murder of […]

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Amazon exec rips `leaking’ to Bezos’ post on headquarters

Amazon exec rips `leaking’ to Bezos’ post on headquarters

Amazon, in 2017, announced plans to invest US$5 billion and hire 50,000 people over the next 18 years. (Bloomberg pic) SEATTLE: An economic development director at Amazon.com Inc. isn’t happy about a Washington Post report that the e-commerce giant is in advanced talks with a Washington suburb about being the location for its second headquarters. […]

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Business figures call for vote on Brexit terms

Business figures call for vote on Brexit terms

London and Brussels hope to conclude a deal this month, but in a letter, the business figures warn of potential negative consequences. (Bloomberg pic) LONDON: More than 70 business figures are calling for a public vote on the final terms of Britain’s exit from the European Union, warning that the country faces “either a blindfold […]

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Oil market on alert as Iran sanctions hit

Oil market on alert as Iran sanctions hit

Iran exported the equivalent of 2.5 million barrels a day in April, before the announcement of sanctions turned buyers away. (AFP pic) LONDON: US sanctions against importers of Iranian oil threaten the crude oil market’s precarious balance and risk surging prices, all under Saudi Arabia’s watchful gaze, according to experts. “In the next weeks all […]

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Trade war’s bark turns to bite in Asia

Trade war’s bark turns to bite in Asia

Manufacturing gauges in several export-reliant Asian countries, as well as China, weakened in October. (AFP pic) SHANGHAI: The US-China tariff slugfest has for months triggered warnings that it could impact global economic growth, and recent data indicates the trade tension is indeed beginning to bite. Manufacturing gauges in several export-reliant Asian countries, as well as […]

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