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China offers to buy 5 percent of Saudi Aramco directly, say sources

China offers to buy 5 percent of Saudi Aramco directly, say sources

DUBAI/LONDON: China is offering to buy up to 5% of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world’s biggest oil producer on the stock market. Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in […]

October 16, 2017 | By | Reply More
Research: US buyers favor iPhone 7 over 8

Research: US buyers favor iPhone 7 over 8

SAN FRANCISCO: Apple Inc’s older iPhone 7 models are outselling the recently launched iPhone 8 ahead of the early November debut of the premium iPhone X, broker KeyBanc Capital Markets said, citing carrier store surveys. Traditionally, new editions of the iPhone have sold quickly as fans queue for the latest upgrade, but early surveys have […]

October 16, 2017 | By | Reply More
Daimler recalls over 1 million vehicles worldwide for air bag fix

Daimler recalls over 1 million vehicles worldwide for air bag fix

As part of the fix, it said dealers would add new grounding to the steering components. BERLIN/WASHINGTON: Daimler AG is recalling more than 1 million Mercedes-Benz cars and sport utility vehicles worldwide to address potential unintended air bag deployments, the German automaker said on Monday. The safety recall covers 495,000 vehicles in the United States, […]

October 16, 2017 | By | Reply More
Netflix adds more subscribers than expected, shares hit record

Netflix adds more subscribers than expected, shares hit record

For the third quarter, Netflix added 5.3 million subscribers around the world, compared with Wall Street’s target of 4.5 million. NEW YORK: Netflix Inc added more subscribers than expected around the world in the third quarter and projected growth in line with Wall Street forecasts, saying it had a head start on rivals as internet […]

October 16, 2017 | By | Reply More
Mercedes says recalls 400,000 UK cars on airbag fault

Mercedes says recalls 400,000 UK cars on airbag fault

LONDON: Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday. A statement issued by the carmaker owned by German giant Daimler said the situation was not related to the airbags crisis at Japanese group Takata. Mercedes said it was recalling models — […]

October 16, 2017 | By | Reply More
EITA’S unit bags RM69.83 million MRT contract

EITA’S unit bags RM69.83 million MRT contract

KUALA LUMPUR: EITA Resources Bhd’s (EITA) unit, EITA Elevator (M) Sdn Bhd, has secured a contract worth RM69.83 million for the supply, procurement, installation, testing and commissioning of lift and escalator systems for elevated stations from Mass Rapid Transit Corporation Sdn Bhd (MRT Corp). In a filing to Bursa Malaysia, EITA said EITA Elevator received […]

October 16, 2017 | By | Reply More
Cheaper rivals target Singapore’s aviation maintenance sector

Cheaper rivals target Singapore’s aviation maintenance sector

A tag as seen on the engine of an airplane at the Garuda Maintenance Facility AeroAsia, the aircraft maintenance and repair unit of Indonesian flag carrier PT Garuda Indonesia Tbk, in Tangerang, Indonesia, September 20, 2017. REUTERS/Beawiharta/File Photo JAKARTA/BANGKOK: Singapore, the dominant hub for aircraft maintenance, repair and operations (MRO) in southeast Asia, the world’s […]

October 16, 2017 | By | Reply More
Fiscal woes, Aramco IPO driving Saudi oil policy, say analysts

Fiscal woes, Aramco IPO driving Saudi oil policy, say analysts

DUBAI: Faced with dire economic straits due to low oil prices, Saudi Arabia is gearing up for deeper production cuts ahead of its massive Aramco share offering. Analysts say the cuts aim to rebalance the market after the OPEC kingpin lost hundreds of billions of dollars in oil income, posting huge budget deficits in the […]

October 16, 2017 | By | Reply More
Oil jumps on fears of new Iran sanctions, Iraq conflict

Oil jumps on fears of new Iran sanctions, Iraq conflict

SINGAPORE: Oil markets jumped on Monday on concerns over potential renewed US sanctions against Iran as well as conflict in Iraq, while a falling US rig count supported prices there. Brent crude futures LCOc1, the international benchmark for oil prices, were at US$57.82 at 0156 GMT, up 65 cents, or 1.1%, from the previous close. […]

October 16, 2017 | By | Reply More
Deloitte: Top UK businesses’ Brexit worries ease slightly

Deloitte: Top UK businesses’ Brexit worries ease slightly

LONDON: The Brexit worries of some of Britain’s biggest businesses have eased slightly over the past three months and optimism is up from a low struck after June’s unexpected election result, a survey by accountants Deloitte showed on Monday. The poll of chief financial officers who make investment decisions at Britain’s biggest companies showed that […]

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