Business News

Saudi 2019 budget boosts spending in bid to spur sluggish economy

Spending is projected to rise to an all-time high of 1.106 trillion riyals ($295 billion), from an actual 1.030 trillion riyals this year.

Dec 19, 2018

By Reuters

South Korea cuts GDP outlook, keeps policy of seeking equitable growth

This year's growth would be the slowest pace since 2.3 percent posted in 2012.

Dec 17, 2018

By Reuters

Hitachi to announce purchase of ABB's power grid business Monday: Nikkei

A Hitachi spokesman declined to confirm the report, saying it was not something it announced.

Dec 17, 2018

By Reuters

China's outcast steel machines find unwelcome home in Southeast Asia

The two Southeast Asian nations - big steel importers with fast-growing economies - are ideal markets for these induction furnaces, or IFs, that produce cheaper steel.

Dec 17, 2018

By Reuters

Qatar Petroleum to invest $20 billion in U.S. in major expansion

QP could carry out the project alone, with no international oil company at its side, if no good offers were made.

Dec 16, 2018

By Reuters

Noble says to push forward with restructuring after Bermuda court order

The company anticipated the restructuring effective date will occur on December 19.

Dec 16, 2018

By Reuters

Chinese smartphone vendors begins losing buyers

T-Mobile, Sprint see Huawei shun clinching U.S. deal

The ban, which became a source of friction in Sino-U.S. trade talks, was lifted in July after ZTE paid $1.4 billion in penalties, allowing the firm to resume business.

Dec 16, 2018

By Reuters

Huawei

J&J shares nosedive on report it knew of asbestos in Baby Powder

The decline in shares erased about $40 billion from the company's market capitalization, with investors worrying about the impact of the report as it faces thousands of talc-related lawsuits.

Dec 15, 2018

By Reuters

Northrop Grumman’s Cygnus spacecraft launches on an Antares rocket at 4:01 a.m. EST Nov. 17, 2018, from the Virginia Mid-Atlantic Regional Spaceport’s Pad-0A at NASA's Wallops Flight Facility in Virginia. Northrop Grumman's 10th contracted cargo resupply

French aerospace contractor Thales to hire 2,000 engineers for Bangalore centre

Thales is a French headquartered multinational company that designs systems and provides services for the aerospace, defence, transportation and security markets

Dec 15, 2018

By Ashish Shukla

China to halt added tariffs on U.S.-made cars in easing of trade tensions

Shortly after the Chinese announcement, Tesla Inc said it had cut prices on its Model S and Model X vehicles in China.

Dec 15, 2018

By Reuters

Workers from ScanDrill Ltd clamp together pieces of pipe while drilling an oil well for Jagged Peak Energy Inc near Fort Stockton, Texas.

Oil prices dip as stock markets slide, but trading tepid ahead of OPEC meeting

U.S. West Texas Intermediate (WTI) crude futures were at $52.66 per barrel at 0140 GMT, down 23 cents, or 0.4 percent, from their last close.

Dec 6, 2018

By Reuters

Anti-Brexit demonstrators wave EU and Union flags opposite the Houses of Parliament, in London

Sterling's fate hangs on Brexit, UK growth to be weak

There is still only a median 25 percent probability no agreement is reached before Britain is due to leave the EU on March 29, unchanged from a November poll.

Dec 6, 2018

By Reuters

China telecoms giant Huawei CFO arrested in Canada

China's embassy in Canada said it resolutely opposed the arrest and called for Meng's immediate release.

Dec 6, 2018

By Reuters

Huawei

Malaysian fugitive Jho Low, four others hit with fresh 1MDB charges

Apart from Low Taek Joh, arrest warrants were issued against four others who have left Malaysia.

Dec 5, 2018

By Reuters

China confident it can clinch U.S. trade pact, Trump demands 'real deal'

Trump, via Twitter, held out the possibility of an extension of the ceasefire but warned tariffs would be back on the table if the talks failed to bear fruit.

Dec 5, 2018

By Reuters

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