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Brexit deal needed by October 2018, says EU negotiator

Brexit deal needed by October 2018, says EU negotiator

Barnier, who is touring EU capitals to hear their views on Brexit, urged Britain to “keep calm and negotiate”, echoing a famously stoic British World War II slogan. BRUSSELS: Britain must broker its deal to leave the EU by October 2018, the bloc’s chief Brexit negotiator Michel Barnier said on Tuesday, warning that time for […]

December 6, 2016 | By | Reply More
US exports to China rise; total trade deficit widens in October

US exports to China rise; total trade deficit widens in October

Economists warn that if exports remain soft in the final two months of the year it could create a drag on fourth quarter growth, while the strong dollar will only help boost imports. WASHINGTON: The US trade deficit widened in October but remained smaller than a year earlier, and included a big jump in exports […]

December 6, 2016 | By | Reply More
EU approves Microsoft buyout of LinkedIn with conditions

EU approves Microsoft buyout of LinkedIn with conditions

Microsoft’s $26 billion acquisition of LinkedIn was announced in June, the biggest-ever deal for a social media company. BRUSSELS: The European Union on Tuesday approved Microsoft’s mega buyout of the professional networking site LinkedIn, provided the US tech giant meets commitments to allow fair competition. The European Commission, the EU executive, said it approved the […]

December 6, 2016 | By | Reply More
Canada steps back in October from record trade deficit

Canada steps back in October from record trade deficit

The figure beat analysts’ predictions of Can$2.1 billion after a record deficit in September, which was revised upward to Can$4.4 billion. OTTAWA: Canada posted a Can$1.1 billion (US$827 million) trade deficit in October, stepping back from a record shortfall the previous month, the government statistical agency said Tuesday. The figure beat analysts’ predictions of Can$2.1 […]

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Lego builds new company structure to grow brand

Lego builds new company structure to grow brand

Lego’s colourful toy blocks have proved resilient to the rise of digital devices which is battering the traditional toy industry, but the company has also been adept at using different channels to engage with children. COPENHAGEN: Danish toy maker Lego announced Tuesday a management shake-up to develop the brand beyond its iconic plastic bricks under […]

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Oil dips as OPEC, Russian output rises ahead of production cut

Oil dips as OPEC, Russian output rises ahead of production cut

Traders and analysts said the boon from last week’s OPEC decision, which helped boost prices by about 15 percent, has faded and the cartel’s promise had been undermined by data showing rising production from its members and Russia. LONDON: Global oil prices slipped on Tuesday as crude output rose in most major export regions despite […]

December 6, 2016 | By | Reply More
Wall Street set to open higher; Dow to hit record level

Wall Street set to open higher; Dow to hit record level

A spate of strong economic data, including GDP, consumer confidence and hiring, has fueled the rally. Wall Street was set to open higher on Tuesday, with the Dow on track to hit a record high for the second straight day, as a post-election rally continued. U.S. stocks have climbed since the Nov. 8 election, driven […]

December 6, 2016 | By | Reply More
Australia’s central bank keeps rates unchanged

Australia’s central bank keeps rates unchanged

Recently appointed RBA governor Philip Lowe said “the board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time”. SYDNEY: Australia’s central bank held interest rates at a record low of 1.50 percent Tuesday despite a recent run […]

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New Islamic finance guidance on gold emphasises real deal

New Islamic finance guidance on gold emphasises real deal

The guidelines will help to increase acceptance of gold products among Islamic investors while giving Islamic banks new liquidity-management tools, said Hamed Hassan Merah, secretary-general of AAOIFI DUBAI: Islamic finance experts have developed new rules for gold transactions, they said on Monday, potentially opening the way for Islamic institutions to trade gold and silver much […]

December 6, 2016 | By | Reply More
Uber steps up efforts on artificial intelligence

Uber steps up efforts on artificial intelligence

The acquisition, terms of which were not announced, will allow the 15 employees of the New York startup to form the base of Uber’s artificial intelligence efforts. SAN FRANCISCO: Uber announced Monday it was buying the artificial intelligence group Geometric Intelligence, to form the core of the ride-sharing giant’s own research center. The move signals […]

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