Sunday , March 29 2020
Breaking News
Home / Author Archives: Sahar (page 3)

Author Archives: Sahar

Two of Germany’s DZ Bank, WGZ Bank announce merger

BERLIN: Two of Germany’s largest cooperative banks Thursday announced plans to merge next August, creating the country’s third-largest bank by total assets, after Deutsche Bank AG and Commerzbank AG. The merger of DZ Bank AG and WGZ Bank AG, which are both central clearing banks for the cooperative banking sector, advances the consolidation in Germany’s highly fragmented banking system after ... Read More »

Threat of Paris-style attack bursts Germans’ security bubble

BERLIN:  After years of feeling insulated from militant Islamist threats, Germans are worrying that they too could be subject to attacks like those suffered last week in Paris. The Paris attackers’ attempts to suicide-bomb last Friday’s Germany-France soccer match in the French capital pricked Germans’ security bubble. The shock was compounded on Tuesday when authorities canceled a friendly match on ... Read More »

Former Northern Ireland Danske Bank boss Mallon named as new Ulster Bank in Republic of Ireland

DUBLIN: Gerry Mallon, the former chief executive of Danske Bank in Northern Ireland, has been appointed as CEO of Ulster Bank in the Republic of Ireland. The appointment will be effective from June 2016. Mr Mallon has held the position of Danske Bank’s Northern Ireland CEO since 2008. He is also currently President of the Institute of Banking in Ireland. ... Read More »

Ireland biggest telecoms Eir in talks for takeover of Setanta Sports

DUBLIN: Ireland’s biggest telecoms group Eir is in talks to acquire Setanta Sports, the Dublin-based pay television broadcaster. The Irish Times has learned that talks are at an advanced stage with a deal likely to be completed in 2016, subject to regulatory approval and competition clearance. It is understood that Mickey O’Rourke, Setanta’s majority shareholder and co-founder, would remain with ... Read More »

Nationwide just reveales 2 things show Britain’s economy booming

LONDON: Nationwide, one of Britain’s largest mortgage lenders, unveiled a set of stellar half year results. The lender said statutory profit before tax was up a huge 34% at £802 million ($1.2 billion). And within the announcement, Nationwide revealed two key points that show Britain’s economic recovery is a lot stronger than people give it credit for. Firstly, a lot ... Read More »

Oil firm total to spend slightly less on Norway in 2015

PARIS: French oil firm Total will spend slightly less next year on the Norwegian continental shelf than it did this year, a senior company official told Reuters on Wednesday. “What we’re looking at is now the number of wells that we will have and of course we see that there’s a significant shift in costs,” Martin Borthne, a director for ... Read More »

Germany’s largest trade union opening US office with United Auto Workers

BERLIN:  Germany’s largest trade union is opening a joint office with the United Auto Workers in Tennessee to promote labor issues at German automakers and suppliers in the southern United States. Frankfurt-based IG Metall estimates that 100,000 people work for German-owned automotive companies in the U.S. Most of those workers aren’t represented by unions, unlike at their counterparts at plants ... Read More »

Northern Ireland business start-ups number rises by 12% as wealth creation deals fall

DUBLIN: Business start-ups in Northern Ireland increased by 12% in the last financial year, but wealth creation deals narrowly declined, it has been claimed. While there are now 67,000 enterprises here, there were only nine deals creating wealth of £200,000 or more for the parties involved, compared to 10 deals during the previous year. Those were the main findings of ... Read More »

Informa to dispose of Dutch conference businesses

AMSTERDAM: Informa said it was selling its two Dutch conference businesses. The company will get rid of the two businesses based in Amsterdam and Eindhoven, as well as a small local publishing operation. The disposals are part of the company’s portfolio management strategy. It follows the recent disposal of its two Scandinavian businesses in Sweden and Denmark, as well as ... Read More »

20% of companies likely to cancel planned trips to France

PARIS: A Business Travel Coalition (BTC) survey revealed that 20% of companies are likely or somewhat likely to cancel planned trips to France in the wake of Friday’s terrorist attacks. Seventy percent of respondents said they were somewhat or very likely to let employees decide if they want to travel to France; 55% said they were somewhat or very likely ... Read More »

Nord stream 2 gas pipeline none of EU’s business

BERLIN: Germany will push ahead with the construction of the Nord Stream 2 gas pipeline and warned Brussels to stop sabotaging the project, Vice-Chancellor Sigmar Gabriel said on Tuesday. During a recent meeting with President Vladimir Putin, Sigmar Gabriel discussed, among other things, the planned construction of new offshoots of the Nord Stream gas pipeline, Der Tagesspiegel daily newspaper wrote. ... Read More »

Online accommodation Airbnb argues boost to economy makes up for tax evasion

ROME: Online accommodation platform, Airbnb, appeared before the Senate Inqury into the tax avoidance of multinational companies, with the ANZ manager arguing the startup brings a significant amount of money into the economy. Airbnb has found itself in the spotlight on Wednesday, when a Senate inquiry into the tax avoidance of multinational companies probed the online accommodation startup, demanding an ... Read More »

UK exports of services from debt swaps to Downton Abbey close to overtaking

LONDON: In a first for a major economy, Britain’s exports of services from debt swaps to Downton Abbey are close to overtaking those of manufactured goods, offering a way to narrow a persistent trade deficit. Britain was the world’s biggest exporter of manufactured goods in the 19th century before it was overtaken by Germany and the United States, and later ... Read More »

UK’s remaining coal-fired power stations to shut by 2025 with their use restricted by 2023

LONDON: The UK’s remaining coal-fired power stations will be shut by 2025 with their use restricted by 2023, Energy Secretary Amber Rudd has announced. Unveiling the government’s new energy strategy, Ms Rudd said that relying on “polluting” coal is “perverse”. In a speech later today it is expected she will announce gas will become “central” to the UK’s energy supply. ... Read More »

Turkey cancels multi-billion-dollar missile deal with China

ANKARA: Turkey has cancelled a multi-billion-dollar deal with China to build its first anti-missile system that had alarmed Ankara’s allies in NATO, a Turkish official said. The deal was cancelled,” the official from Prime Minister Ahmet Davutoglu´s office told AFP. “One of the main reasons is that we will launch our own national missile project,” added the official. The news ... Read More »

Northern Ireland families to lose £1,500 year in tax credit cuts

DUBLIN: Families in receipt of tax credits in Northern Ireland are set to lose an average of almost £1,500 a year, new research has revealed. Under the current plans of Chancellor George Osborne, the analysis confirms the province will be the hardest hit region in the United Kingdom. The report from the Trade Unions Congress (TUC) – to be released ... Read More »

Business leaders need to become digital transformation superheroes

BRUSSELS: Early forerunners of the digital transformation of Irish businesses could be witnessed in Michael O’Leary’s transformation of Ryanair 16 years ago from a sleepy regional airline into Europe’s biggest airline thanks to an adroit appreciation of the internet and e-commerce early on. A more recent example could be Nightline Couriers’ creation of Parcel Motel to enable consumers all over ... Read More »

Open Data Institute start-ups injecting £6.5m into UK economy

LONDON: Start-ups in programmes at the Open Data Institute (ODI) are helping growth in the UK economy and increasing employment, and were a major theme at the ODI 2015 Summit, for which Business Reporter chaired the recent panel session on Open Data Means Business. The ODI has had many successful start-ups come out of its programmes, which include the Open ... Read More »

Finance Ministry’s Customs Department app to speed up procedures

ROME: The Finance Ministry’s Customs Department is developing a mobile app that will shorten customs clearance procedures for exports and imports to five days from the usual 10. Department director-general Kulit Sombatsiri said clearance procedures were a focus of Prime Minister Prayut Chan-o-cha’s economic policy after Thailand’s World Bank ranking for ease of doing business dropped to 49th this year ... Read More »

Shares of Rolta India up nearly 4% at Rs 99 on Bombay Stock Exchange

ANKARA: Shares of Rolta India were up nearly 4% at Rs 99 on the Bombay Stock Exchange after the company announced its foray into Turkey following the appointment of iTelligence Turkey – Elsys Bilgi Sistemleri A.S. as its authorised distributor in Turkey to expand its presence into this high growth market. Telligence Turkey will promote Rolta solutions including BI and ... Read More »