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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.

UAE non-oil companies cutting jobs at fastest rate in decade

DUBAI, United Arab Emirates — A leading Dubai bank warned on Tuesday that non-oil companies across the United Arab Emirates have cut staff at their sharpest rate in nearly a decade amid an economic slowdown. A report by Emirates NBD, which is majority owned by Dubai’s government, said it relied on data from some 400 private sector companies outside of ... Read More »

Trump moves to end special trade treatment for India: reports

WASHINGTON: US President Donald Trump has announced plans to end special trade treatment for India, while accusing the country of unfairly shutting out US businesses, CNN reported on Tuesday. Trump wrote a letter to the US Congress on Monday signalling his intent to remove India from the Generalised System of Preferences (GSP) — a programme that provides developing countries an ... Read More »

Japanese court grants bail to ex-Nissan chair Ghosn after more than three-month detention

TOKYO (Reuters) – A Japanese court granted bail to ousted Nissan Motor Co Ltd chairman Carlos Ghosn on Tuesday more than three months after his arrest for alleged financial crimes, on condition he submit to video surveillance and communications monitoring. The architect of the Renault-Nissan tie-up, and until his arrest in November one of the global auto industry’s most feted ... Read More »

Emirates Development Bank closes $750m EMTN bond

DUBAI: Emirates Development Bank (EDB), a development bank fully owned by the UAE government, has successfully closed a $750 million senior bond. Rated AA- by Fitch, the EDB said the debut bond issue, which has a five-year tenure, was launched at 3.516 per cent coupon in the Regulation S markets. The inaugural US dollar transaction was issued under EDB’s newly ... Read More »

Gov’t working to prevent tax loss from online, informal shopping from abroad

Overseas shopping has begun to cause major losses in the economy. It has been reported that around 60 million commercial products, including 26 million from China, have entered Turkey under the status of letters in 2018. The value of these products has been reported to have reached approximately TL 20 billion. This “individual import system” threatens the retail sector and ... Read More »

Swiss Company Taking The Pain Out Of IT Support Raises $85 Million For Growth

The two most dreaded letters in today’s office environment are “IT,” according to the Swiss-based company, Nexthink. Employees waste an average of 22 minutes a day frustrated by IT problems, and the IT department spends a lot more time than that trying to fix things, says Nexthink. Nexthink Co-founder and CEO Pedro Bados made it his mission to transform the ... Read More »

India’s economy slows ahead of national election

MUMBAI: India´s economy slowed further in the latest quarter, official data showed Thursday, as the world´s largest democracy prepares for a national election and clashes with arch-rival Pakistan at the border. GDP growth in Asia´s third-largest economy reduced to 6.6 percent in the third quarter, a consecutive slump from 7.1 percent in the three months to the end of September. ... Read More »

US wins dispute over China grain subsidies before WTO

GENEVA: The World Trade Organisation on Thursday sided with Washington in a dispute it filed three years ago over “unfair” Chinese subsidies to producers of wheat and rice. Back in 2016, the United States alleged that China doled out $100 billion in “market price support” for wheat and rice as well as corn production, above levels agreed at the Geneva-based ... Read More »

Turkey to act on e-commerce orders avoiding tax -finance minister

ISTANBUL, Feb 27 (Reuters) – Turkey will take steps against international digital commerce packages that avoid taxes, Finance Minister Berat Albayrak said on Wednesday, in a move to support local manufacturers. Ankara has taken measures in recent months to reinvigorate slowing economic activity, including in the areas of taxation and incentives to help manufacturers after the lira lost some 30 ... Read More »

Indian share market extends losses

ISLAMABAD: After opening lower, the Indian stock markets — Sensex and Nifty — extended losses on Tuesday, following violation of Line of Control by the Indian Air Force, Business Today of India reported. According to the report, the Sensex plunged nearly 500 points in opening deals and Nifty slipped below the 10,740 level. Most of the Bombay Stock Exchange sectoral ... Read More »

Afghanistan launches new export route to India through Iran

  KABUL: Afghanistan began exports to India through an Iranian port on Sunday, official said, as the landlocked, war-torn nation turns to overseas markets to improve its economy. Officials said 23 trucks carrying 57 tonnes of dried fruits, textiles, carpets and mineral products were dispatched from western Afghan city of Zaranj to Iran’s Chabahar port. The consignment will be shipped ... Read More »

Businesses trading with UK urged to register for customs number

London : Businesses that trade with the UK are being urged to register for a Revenue customs number as Brexit looms. Business Minister Heather Humphreys asked people to take a few minutes to register for a number if they want to continue to trade with the UK post-Brexit. Ms Humphreys made the call as she announced a series of free ... Read More »

Oil up towards 2019 highs on supply, trade talks optimism

LONDON: Oil prices edged up on Monday towards a 2019 high achieved last week as sanctions and political uncertainty tightened supply in several producer countries and US-China talks appeared headed towards success. But record US exports and continued anxiety over poor economic data worldwide this year may curb gains. International Brent crude oil futures were at $67.28 a barrel at ... Read More »

Nestle, AT&T and others pull YouTube ads over pedophile concerns

NEW YORK: Several companies, including AT&T and Nestle, are pulling advertisements from YouTube over concerns about inappropriate comments on videos of children. A video from a popular YouTuber and a report from Wired showed that pedophiles have made unseemly comments on innocuous videos of kids. The comments reportedly included timestamps that showed where kids innocently bared body parts. YouTube says ... Read More »

Iran Disconnects 250,000 Smuggled Cellphones Under Mobile Registry Scheme

Tehran :following the launch of the Mobile Registry Scheme in December 2017, close to 250,000 smuggled cellphones have been detected and disconnected from local operators’ networks by mid-June 2018. With the aim of discouraging cellphone smuggling, the ICT Ministry, Islamic Republic of Iran Customs Administration, the Communication Regulatory Authority (CRA) and the Industries Ministry created the so-called scheme according to ... Read More »

Oil hovers near 2019 highs amid OPEC cuts

LONDON: Oil prices hovered around 2019 highs on Friday, bolstered by OPEC-led supply cuts and US sanctions on Venezuela and Iran, but were capped by slowing growth in the global economy. US West Texas Intermediate (WTI) crude oil futures were at $57.33 a barrel at 1145 GMT, 17 cents or 0.3% above their last settlement, and close to a 2019 ... Read More »

Singapore total trade breaks $1t again after four years

Singapore’s total merchandise trade rose 9.2% to reach $1.1t in 2018, a record it has not hit since 2014, data from Enterprise Singapore (ESG) revealed. However, the growth rate in 2018 is weaker than the rate in 2017 (11.1%) According to its 2018 review, both exports and imports grew by 7.9% and 10.6% respectively. Oil trade rose 16.8% in 2018 ... Read More »

Oil falls after record US shale output forecast

LONDON: Oil fell on Wednesday after the US government said shale output would rise to a record next month, denting a rally that sent prices to their highest this year. Brent futures eased 53 cents to trade at $65.92 a barrel by 1312 GMT, still within sight of Monday’s high for the year of $66.83. US futures were at $55.77 ... Read More »

EU’s big food producers look to Middle East to reduce hard Brexit exposure

EU countries are looking to markets like the UAE and Middle East to reduce their expose to a hard Brexit, a senior Irish food board figure has said. The prospect of a hard Brexit – in which the UK would give up full access to the single market and the customs union in its exit from the European Union – ... Read More »

UK’s Labour urges government to back customs Brexit plan ahead of Brussels visit

LONDON: British opposition Labour leader Jeremy Corbyn will on Tuesday urge the government to adopt his party’s Brexit plan for a permanent customs union with the European Union, ahead of a visit to Brussels. With just six weeks until Britain is due to leave the bloc, Prime Minister Theresa May is yet to win ratification of British lawmakers for her ... Read More »