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Egypt tourism industry expects moderate growth in 2015

Egypt tourism industry expects moderate growth in 2015

CAIRO: Egypt’s tourism industry, hit by years of political upheaval and militant violence, is expected to post moderate growth this year and hopes a global advertising campaign will revive the sector vital for economic recovery, the tourism minister said. Last year, 9.9 million tourists visited Egypt, a far cry from the 14.7 million that visited […]

September 28, 2015 | By | Reply More
Oil prices slip as demand outlook eclipses supply falls

Oil prices slip as demand outlook eclipses supply falls

LONDON: Oil prices fell on Monday, paring some of last week’s 2 percent rally, despite evidence of slowing U.S. production and a fourth weekly increase in U.S. investor holdings of crude futures. High oversupply and concern about demand growth in key areas of consumption such as emerging markets have stripped 50 percent off the value […]

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Zero applicants for Japan plan to promote women at work

Zero applicants for Japan plan to promote women at work

TOKYO: Not one Japanese company applied for a subsidy programme aimed at promoting more women to senior jobs, an official said on Monday (Sep 28), an embarrassing blow for Tokyo’s push to boost the economy with female workers. Hundreds of firms had been expected to apply for cash rewards in exchange for reaching targets to […]

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Swiss watchdog opens bank probe into precious metal collusion

Swiss watchdog opens bank probe into precious metal collusion

ZURICH: The Swiss competition regulator has opened an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of manipulation probes. Switzerland’s WEKO watchdog said its investigation, the result of a preliminary probe, was looking at whether UBS , Julius Baer , Deutsche […]

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DineDesk wins "Best Enterprise Startup of 2015" Award

DineDesk wins "Best Enterprise Startup of 2015" Award

DineDesk has been named as “Best Enterprise Startup” by Startups World Network in their annual awards ceremony   Hyderabad, Sept 28: “We are proud to win this honoured title of Best Enterprise Startup,” expressed the DineDesk co-founder Ahmed Sharief. “It showcases our excellence in innovation in restaurant technology and it recognises our hard work in […]

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US regulator considers expanding Takata air bag recalls: Bloomberg

US regulator considers expanding Takata air bag recalls: Bloomberg

REUTERS: The U.S. regulator overseeing the replacement of Takata Corp air bags is considering an order that would expand the recalls and has contacted seven manufacturers who could be affected, including Volkswagen AG and Tesla Motors Inc, Bloomberg reported. Takata identified the seven as companies it supplied with air bag inflators that use ammonium nitrate […]

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Vodafone, Liberty talks broke down on asset values: source

Vodafone, Liberty talks broke down on asset values: source

LONDON: Talks between Vodafone and Liberty Global collapsed because the two companies could not agree on the valuation of assets on either side, but the door has not closed on potential future discussions, according to a person close to the talks. The asset-swap discussions centered on “Liberty’s German cable assets and cable assets elsewhere in […]

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Swiss authorities probe seven banks for price fixing in metals market

Swiss authorities probe seven banks for price fixing in metals market

September 28, 2015 GENEVA: Swiss competition authorities said Monday they were investigating UBS, HSBC, Deutsche Bank and four other banks on suspicion of price fixing in the precious metals market. The Swiss Competition Commission (COMCO) “has today opened an investigation against two Swiss banks, UBS and Julius Baer, as well as against the foreign financial […]

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Horizonte acquires Glencore's Brazil nickel project for US$8 million

Horizonte acquires Glencore's Brazil nickel project for US$8 million

REUTERS: Horizonte Minerals said on Monday it had bought Glencore’s Araguaia nickel project in Brazil for US$8 million. “This is a game-changing transaction for Horizonte. We have been able to negotiate a unique transaction leveraging the current depressed commodity markets,” Horizonte CEO Jeremy Martin said in a statement. A Glencore spokesman said the deal was […]

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China’s Didi firms up anti-Uber alliance, invests in Indian app Ola

China’s Didi firms up anti-Uber alliance, invests in Indian app Ola

September 28, 2015 SHANGHAI: China’s most popular ride-hailing app Didi Kuaidi said on Monday it has invested in Indian peer Ola, forging a new alliance within a network of companies challenging US rival Uber Technologies Inc . Didi joins existing investors including SoftBank Corp , Falcon Edge, Singapore sovereign wealth fund GIC and Tiger Global […]

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