Business

Tusiad Business Group Calls on Turkey’s Gov’t to Reform

ISTANBUL, Nov 2 (Reuters) Turkey’s largest business group Tusiad said on Monday the ruling AK Party should quickly implement political reforms after it won a strong parliamentary majority in an election on Sunday. The government should also strengthen the European Union accession process, expand freedoms and democracy and end social polarization, Tusiad said in an

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KSA, S&P Spat Continues Over Ratings

By Staff Reporter DUBAI, Oct. 31 Saudi Arabia’s Ministry of Finance accused ratings agency Standard and Poor’s of acting “on an unsolicited basis” few hours after the agency downgraded the Kingdom’s credit ratings to A+ with a negative outlook. The ministry further challenged economic data provided by S&P, saying the Kingdom’s economy had already taken provisional measures to

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Ratings On Saudi Arabia Lowered To ‘A+/A-1’; Outlook Remains Negative

By staff reporter Standard and Poor’s Ratings Services lowered its unsolicited long-and short-term foreign- and local-currency sovereign credit ratings on the Kingdom of Saudi Arabia to ‘A+/A-1’ from ‘AA-/A-1+’. The outlook remains negative. In a report issued late Friday, S&P also revised its transfer and convertibility (T & C) assessment on Saudi Arabia to ‘AA-‘from

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What You Need to Know About President Xi’s Visit to The U.K.

Chinese President Xi Jinping’s state visit to Britain—the first to the U.K. by a Chinese leader in a decade—is set to be marred by controversy, as human rights groups prepare to protest China’s crackdown on human rights. President Xi arrives on Monday morning, although his official tour will begin the next day. The stakes are

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Lloyd’s of London Chief Inga Beale Heads List of Top 100 LGBT Executives

Inga Beale, the chief executive of the Lloyd’s of London insurance market, became the first woman to rank first on a power list of the world’s top 100 LGBT business executives on Monday. Beale is also the first openly bisexual person to top the list, which was compiled by the U.K.-based OUTstanding business network that campaigns

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Toyota to Recall 6.5 Million Cars to Fix Power Window Switch

Toyota Motor Corp said on Wednesday it would recall 6.5 million vehicles globally to fix a defect in the power window switch in models including the Yaris/Vitz subcompact, Corolla and Camry. About 2.7 million of the recalled cars are in North America, 1.2 million in Europe, and 600,000 in Japan, the company said. It said

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China Agrees Deal for Major Stake in U.K. Nuclear Power Plant

Chinese President Xi Jinping is expected to finalize a deal for China to cover 30 percent of the cost of a new nuclear power station in western England, according to the Financial Times. The proposed total cost is 24 billion pounds ($37 billion.) The plant, which could be completed by 2025, will be based at

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In For a Yuan, In For a Pound: Is The U.K. Making a Bad Bet On China?

This piece was originally published by the Council on Foreign Relations. What exactly is the objection to UK Chancellor George Osborne’s desire for the United Kingdom to be Beijing’s “best partner in the West” and to have a “relationship that is second to none”? After all, there is not a country on earth that does

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Football, Fans and Fees: Why The Bayern Munich Boycott is Important

As Arsenal fans nervously took their seats ahead of a crunch Champions League match with Bayern Munich on Tuesday night, the scene at the Emirates Stadium was conspicuous for the hundreds of empty seats in the away end. Fans of the German champions—who were eventually defeated 2-0 by the Gunners—were staging a protest against ticket

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China’s Xi Seals Landmark Multi-Billion-Dollar Nuclear Deal in Britain

Chinese President Xi Jinping has sealed a multi-billion dollar deal to finance nuclear power stations in Britain, crowning a visit that Prime Minister David Cameron hopes will unleash a wave of investment from the world’s second largest economy. What you need to know about the President’s visit After a day of pomp, Communist Party General

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