business

Business Outlook: Saudi Market and Investors

The Saudi market can attract more foreign investors if it eliminates restrictions BY Ahmad Khatib Stock markets around the world crashed in 2008 and billions of dollars were lost, but most of the world’s major indices found a way to recover. Some of them recorded historic levels later on, and many have repeated that exceptional performance

[ Read More ]

Saudi Arabia Isn’t Flooding Oil Market Ahead of Freeze Talks

By John Kemp LONDON, Aug 23 (Reuters) – Saudi Arabia’s oil production hit a record in July, according to published statistics, and is likely to hit another in August, according to industry sources. Some analysts have interpreted the increases as an aggressive demonstration of the kingdom’s ability to ramp up output ahead of an informal

[ Read More ]

Global Tourism GDP Resilient This Year, but Woes for France, Turkey

BERLIN, Aug 23 (Reuters) – Travel and tourism will contribute less than previously forecast to the economies of France, Turkey and Brazil this year, hit by attacks, political and economic turmoil, though globally the sector is resilient, the World Travel and Tourism Council said. Brazil is hosting the Olympic Games this year but its travel

[ Read More ]

Business Outlook: In Defense of (Some) Experts

BY John D’Agostino  It’s a bad time to know what you are talking about. ‘Experts’ are out of favor. Driven underground, pods of highly trained individuals are left to scavenge for anyone who will heed their clarion calls on Brexit, asset bubbles, vaccines, climate change, immigration, race relations—you know, the simple stuff. Doctoral candidates stand

[ Read More ]

Libya Wealth Fund Boss Screamed, Cursed At Goldman Bankers

By Sujata Rao LONDON, June 28 – The Libyan wealth fund’s former deputy chief screamed and cursed at Goldman Sachs bankers in a stormy meeting over derivatives trades made on the bank’s advice that ultimately turned out to be worthless, a witness told a court on Tuesday. In a trial at London’s High Court, the

[ Read More ]

World Stocks, Sterling Fight Back After Brexit Beating

By Marc Jones LONDON, June 28 – World stocks rose for the first time in three days and sterling and the euro climbed on Tuesday, as investors made a rush for Brexit-bashed assets hammered by some of the biggest falls since the 2008 collapse of Lehman Brothers. Bargain hunting trumped still widespread uncertainty over Britain’s

[ Read More ]

Overcoming Splits, Tunisia’s Parliament Approves New Banking Law

TUNIS, May 12 – The Tunisian parliament on Thursday approved a new banking bill to modernize financial services, a second reform called for by the International Monetary Fund after a disputed central bank law passed last month. Tunisia is under pressure from international lenders to speed up economic reforms to create jobs and growth, especially

[ Read More ]

India’s Tata Steel Puts British Business Up for Sale

By Promit Mukherjee MUMBAI, March 30 – India’s Tata Steel, Britain’s largest steelmaker, put its entire UK business up for sale to stem heavy losses, a move that would draw a line under its almost decade-long foray into Britain’s declining steel industry. After a marathon board meeting in Mumbai, the steel giant said the financial

[ Read More ]

Turkish Firms in Russia Struggle as Diplomatic Row Rages

By Alexander Winning MOSCOW, March 30 – Four months after President Vladimir Putin accused Ankara of a “stab in the back”, Turkish business executives in Russia are getting used to saying hasty goodbyes. “Every week another friend calls to say he’s leaving,” one Turkish businessman based in Moscow told Reuters. “It’s become very difficult for

[ Read More ]