Business

Airbus Unveils Leaner Structure and Sales Shake-Up

By Tim Hepher and Sudip Kar-Gupta PARIS, July 3 – Airbus rolled out a leaner new structure on Monday, completing a recent merger between its parent company and its dominant planemaking arm, and including a shift in the reporting line for its key commercial sales team to group CEO Tom Enders. That move, which confirmed

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Qatar Riyal FX Market in Chaos But Bankers Believe Peg Still Solid

DUBAI/ABU DHABI, June 28 – Economic sanctions and poor liquidity have created chaos in the foreign exchange market for Qatari riyals, with the currency trading far below its peg to the U.S. dollar this week, but bankers in the region believe the peg remains solid. The riyal has been increasingly volatile in the spot market

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Uber CEO Travis Kalanick Resigns

June 21 – Uber Technologies Inc Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigned on Tuesday under mounting pressure from investors over his leadership. Kalanick’s departure caps a tumultuous period for the world’s largest ride-services company, which upended the taxi industry and transportation regulations globally with

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In Brexit Boost, Jaguar Land Rover to Hire 5,000 Staff

By Costas Pitas LONDON, June 19 – Britain’s biggest carmaker Jaguar Land Rover (JLR) will hire 5,000 staff as it boosts its skills in autonomous and electric technology, a welcome business endorsement as Prime Minister Theresa May starts Brexit talks after a botched election. JLR, which employs more than 40,000 people globally, said it would

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Advertising Rates Soar Amid India vs. Pakistan Cricket Final

By Sanjeev Miglani and Amlan Chakraborty NEW DELHI, June 18 – Television advertising rates for Sunday’s cricket final between India and Pakistan are 10 times the normal price, industry sources said, as millions of fans are expected to tune in for a clash that last time ranked among the six most-watched sporting events. Pakistan, the

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Qatar Can Defend Economy and Currency: Finance Minister

DUBAI, June 12 – Qatar can easily defend its economy and currency against sanctions by other Arab states, Qatari finance minister Ali Sherif al-Emadi told CNBC television in an interview broadcast on Monday. He added that the countries which had imposed sanctions would also lose money because of the damage to business in the region.

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S&P: Negative Rating Actions Taken On Qatari Banks

• On June 7, 2017, S&P lowered its long-term sovereign credit rating on the State of Qatar to ‘AA-‘ and placed it on Credit Watch with negative implications. In S&P’s view, the moves by a group of governments to cut diplomatic ties and trade and transport links with Qatar will exacerbate the country’s external vulnerabilities

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Oil Slips on Worries Mideast Rift Could Undermine OPEC Cuts

By Christopher Johnson LONDON, June 6 – Oil prices fell further below $50 a barrel on Tuesday on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by OPEC to tighten the market. Benchmark Brent crude oil was 15 cents a barrel lower at $49.32 by 0755

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Some Egyptian Banks Halt Dealings With Qatari Banks After Rupture

By Asma Alsharif CAIRO, June 5 – Some Egyptian banks halted dealings with Qatari banks on Monday, four Cairo-based bankers said, responding to Cairo’s announcement that it had cut ties with Qatar, accusing it of supporting terrorism. Egypt’s action, announced in the early hours of Monday, was coordinated with similar moves by Saudi Arabia, the

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