Tuesday , May 26 2020
Breaking News
Home / World Business (page 18)

World Business

A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers.

Hyflux receives letter of intent for potential investment from unnamed China-based suitor

SINGAPORE: Another potential suitor has knocked on the doors of embattled water treatment firm Hyflux with a non-binding letter of intent for a possible investment. The China-based investor, whose name was not revealed in the exchange filing on Saturday (Jun 15), was described as a subsidiary of a state-owned enterprise in the industrial field which works on a global scale ... Read More »

Liam Fox warns WTO is ‘in crisis’ as businesses told to brace for no-deal Brexit

The US-China trade war, industrial strife and political deadlock all threaten to overwhelm the World Trade Organization, putting the future of the institution and the system of free trade in mortal danger, Liam Fox has warned. World leaders need to “seize the opportunity” to resolve the crisis, opening up trade rapidly to boost economic growth and spread prosperity, the International ... Read More »

Alibaba files for HK listing that may raise $20b

HONG KONG: China’s biggest e-commerce company Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that could raise up to $20 billion as early as the third quarter of this year, a person with direct knowledge of the matter said. A deal of that size would be the biggest follow-on share sale globally in seven years and ... Read More »

Low expectations from Trump-Xi trade talks

WASHINGTON: With less than three weeks to go before proposed talks between the Chinese and US leaders, expectations for progress toward ending the trade war are low and sources say there has been little preparation for a meeting even as the health of the world economy is at stake. President Donald Trump says he wants to meet with President Xi ... Read More »

No-deal Brexit could see UK ‘flooded with cheap copies of British goods’

Britain could be flooded with cheaper foreign copies of UK goods in a no-deal Brexit, a leading manufacturing group has warned. A representative of the Make UK trade body said some of the key intellectual property (IP) rules protecting UK products from imitations by rivals may lapse if Britain left the EU without an agreement in October. Sean Nevin, chief ... Read More »

Uber picks Melbourne as first international test site for flying taxi service

MELBOURNE: Uber Technologies said it will use Australia’s second-largest city, Melbourne, as the first international test site for the group’s planned flying taxi service. The United States ride sharing firm had previously chosen Dubai as the first test site outside the US for its UberAIR service but reopened its request for proposals last month after launch delays in the Middle ... Read More »

Singapore seen as one of the easiest countries to do business in Asia

Based on a report by TMF Group, a provider of international administrative services, Singapore is ranked the sixth easiest place to do business in Asia. The Global Business Complexity Index, which compares key administrative and compliance demands across 76 jurisdictions worldwide, found only Thailand, South Korea, Japan, Hong Kong and Taiwan provided a more straightforward environment for firms looking to ... Read More »

Oil rises on supply cuts, but weak economy holds market back

SINGAPORE: Oil prices rose on Tuesday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington’s withdrawal of a tariff threat against Mexico removed a cloud over the global economy. However, traders said concerns about the health of the global economy and the impact on fuel demand were still weighing on oil market ... Read More »

UK and South Korea agree to sign free trade deal

UK-Korean trade was worth £14.6bn in 2018, up by an average of 12% per year since the EU-Korea Free Trade pact was signed in 2011. The UK has signed a free trade agreement (FTA) in principle with South Korea that will ensure businesses from both countries can continue trading freely after Brexit. International Trade Secretary Liam Fox signed the joint ... Read More »

G20 agrees to push ahead with digital tax

FUKUOKA / JAPAN: Group of 20 finance ministers agreed to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a copy of the bloc’s draft communique obtained by Reuters showed. Facebook, Google, Amazon, and other large technology firms face criticism for cutting their tax bills by booking profits in low-tax ... Read More »

US leaves door open to China on trade talks at G20

WASHINGTON: The United States is open to further negotiations with China on their ongoing trade battle but any potential deal will wait until the two leaders meet at the end of the month, Washington’s top finance official said on Saturday. Speaking to reporters on the sidelines of a meeting of G20 finance ministers and central bank chiefs, Treasury Secretary Steven ... Read More »

Ukraine-Turkey free trade agreement is 99% ready

The free trade agreement between Ukraine and Turkey is 99% ready. “The agreement is 99% ready. Some details have left that influence the numbers,” Deputy Foreign Minister of Ukraine Vasyl Bodnar said in an interview with the Ukrainian Radio, answering a question about the readiness of the FTA with Turkey. According to him, the negotiations, which are conducted by experts, ... Read More »

Oil prices fall amid economic slowdown

SINGAPORE: Oil prices fell on Tuesday as an economic slowdown started to dent energy demand, but markets won some support after Saudi Arabia said a consensus was emerging with other producers about extending supply cuts. Front-month Brent crude futures were at $60.97 at 0648 GMT. That was $0.31, or 0.5%, below last session’s close. US West Texas Intermediate (WTI) crude ... Read More »

Chinese data suggests some damage from trade war

BEIJING: A report Monday on Chinese manufacturing suggested that Beijing’s trade war with the Trump administration is causing economic damage. Surveys of manufacturers across the region for May showed that business confidence has been shaken by the conflict over President Donald Trump’s demands that Beijing change its industrial planning strategy and find other ways to redress its perennially huge trade ... Read More »

Oil prices edge higher as Saudi reassurances stem decline

LONDON: Oil prices edged higher on Monday after reassurances from top oil exporter Saudi Arabia offered some respite from last week’s heavy losses as deepening US trade wars fanned fears of a global economic slowdown. Saudi Arabia, the de-facto leader of the Organisation of the Petroleum Exporting Countries (OPEC), indicated that the group of oil producers together with Russia would ... Read More »

US cuts off India preferential trade access

WASHINGTON: The United States will end preferential trade treatment for India from Wednesday, US President Donald Trump has announced, in a fresh economic headwind for New Delhi alongside slowing growth and record unemployment. India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $5.7 billion worth of duty-free goods ... Read More »

China raises tariffs on US goods amid esclating tensions

BEIJING: China on Saturday increased tariffs on billions worth of US goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei. Beijing’s move hits $60 billion worth of US goods with new punitive tariffs ranging from five to 25 percent, and ... Read More »

UK car output crashes on Brexit-induced shutdowns

British car output almost halved in April as factories imposed shutdowns in the face of Brexit uncertainty and other sector-wide headwinds, industry data showed . The nation’s car production nosedived 44.5 percent from the same month last year to 70,971 vehicles, according to the Society of Motor Manufacturers and Traders (SMMT). April was the eleventh successive monthly decline amid softening ... Read More »

China suffering from trade conflict: Trump

WASHINGTON: President Donald Trump repeated his claim on Thursday that China is suffering most in the trade conflict with the United States, saying the punitive tariffs are having a “devastating effect”. And after talks broke down earlier this month, he said his tough strategy is working. “I think we’re doing very well with China,” Trump told reporters at the White ... Read More »

Flotation values Watches of Switzerland at £647m

Britain’s largest luxury watch retailer began trading on the London Stock Exchange this morning, with shares priced at the upper end of the target range, giving Watches of Switzerland an opening market capitalisation of £647 million. Shares in Watches of Switzerland, which had set a target between 250p and 277p, floated at 270p earlier. “The process has clearly gone very ... Read More »