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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.

UK business leaders propose partial customs union with EU

LONDON: In a 10-page report, entitled “Customising Brexit: A hybrid option for a UK-EU trade framework,” the Institute of Directors (IoD) urged London to seek a “bespoke, partial customs union with the EU.” At the same time, the hybrid option would give London the “freedom to forge its own trade policy” and seek free trade deals with other countries in areas not covered, or complement the customs union with a wide-ranging ... Read More »

Saudi Arabia, Russia focus on rebalancing oil markets

RIYADH: Rebalancing oil markets was high on the agenda when King Salman and Russian Energy Minister Alexander Novak held official talks on Wednesday exploring aspects of cooperation between their two countries. The talks at Al-Yamamah Palace addressed bilateral relations and cooperation in the fields of energy, especially in achieving the stability of the global oil markets through the leadership of ... Read More »

Sunwah International reports Q2 fiscal 2018 results

LONDON: Sunwah International Limited, TSX: SWH (the “Company”), an Asian based financial services firm, today announced its financial results for the period ended December 31, 2017. All figures quoted are in U.S. dollars. Sunwah International and its subsidiaries (collectively “the Group”) recorded a small net loss attributable to owners of the Company of $31,000 in the second quarter of its 2018 financial year, ... Read More »

French president hosts 140 world business leaders

PARIS: French President Emmanuel Macron promoted his government’s changes to French tax and labor laws Monday in front of 140 world business leaders in a bid to convince them to invest and hire in France. At the same time, the 40-year-old Macron, elected last May, hopes to persuade the French themselves of the merits of his economic policies. Macron visited ... Read More »

IBM shares cross 4% yield mark

NEW YORK: Looking at the universe of stocks we cover at Dividend Channel , in trading on Thursday, shares of International Business Machines Corp (Symbol: IBM) were yielding above the 4% mark based on its quarterly dividend (annualized to $6), with the stock changing hands as low as $149.85 on the day. Dividends are particularly important for investors to consider, because historically ... Read More »

Wall street rout rocks world as higher rates foreseen

NEW YORK: A plunge on Wall Street on Monday and Tuesday led to a global stock market rout, as investors speculated that looming inflation would force the Federal Reserve to raise interest rates faster than expected earlier. US government bond yields jumped as a result. Despite a modest rebound in global markets, another four-digit plunge by the Dow on Thursday ... Read More »

Global stock sell off slows in Europe

LONDON: Global equity markets appeared set to end a tumultuous week on a volatile note with European markets bouncing off new lows in early trading after sharp losses in Asia highlighted investor fears that a decade-long bull market was nearing an end. The sell off in Asia capped one of the worst weeks in Hong Kong and Tokyo in recent ... Read More »

YES BANK’s 1st USD bond of $600m raised from international markets

NEW YORK: India’s fourth largest private sector bank, YES BANK has successfully completed issuance of its first USD 600 million (more than Rs. 3,847 crore) bond issue in the international debt markets. The Bond issuance is for a tenor of 5 years and is rated Baa3 by Moody’s Investors Service and is listed on the London Stock Exchange International Securities ... Read More »

Wall Street braces as world sell-off runs to $4tr

NEW YORK: World stock markets nosedived for a fourth day running on Tuesday, having seen nerves about higher interest rates and overcooked valuations wipe $4 trillion off what just eight days ago had been record highs. Europe’s main bourses were down around 2.5 percent and Wall Street futures pointed to more losses too as “fear gauges” of market volatility leapt to ... Read More »

US business tax cut ‘could erode Europe’s tax base’

NEW YORK: Economists at the European Central Bank (ECB) have said the US corporate tax cut should lift the world’s largest economy in the short term – but warned that it could erode the tax base in European countries by intensifying global competition for lower rates. ECB economists said the cut in business taxes will provide a “significant fiscal stimulus” ... Read More »

Asia markets trade lower

SHANGHAI: Asia markets fell across the board on Monday, following a sharp decline in U.S. stocks on Friday on a stronger-than-expected jobs report that sent interest rates higher. In Australia, the ASX 200 fell 95.20 points, or 1.56 percent, to 6,026.20, with most sectors declining. The heavily weighted financial subindex was down 1.29 percent, while the energy and materials sectors fell 2.56 percent and ... Read More »

International grain markets give handy lift to wheat sellers

NEW YORK: GRAIN markets have remained quiet over the shorter holidays period as selling from growers remained subdued, but if recent market conditions continue, there may be more growers drawn to the market to sell. East coast ASX wheat futures prices have improved $6 a tonne and cash wheat bids from exporters and domestic users have improved $3 a tonne in ... Read More »

Pound slips as dollar recovers ahead of US inflation figures: business live

NEW YORK: President Trump said at Davos on Friday that he wanted free and fair trade, comments which did little to assuage fears of a possible trade war. Especially since they followed the imposition of tariffs on washing machines and solar panels from China and South Korea. Michael Hewson, chief market analyst at CMC Markets UK Read More »

Bombardier wins fight against huge tariffs on aircraft imports

LONDON: Thousands of jobs in Northern Ireland appear to have been saved after plane maker Bombardier won a legal battle in the US that has overturned damaging import tariffs on its C-series aircraft. On Friday the US International Trade Commission (ITC) voted unanimously against Boeing in favour of its Canadian rival Bombardier after Donald Trump’s administration had threatened to impose duties of 292%.  The ... Read More »

Bitcoin venture starts disrupting shipping

LONDON: The developer of the new form of payment, Prime Shipping Foundation, announced that on December 1, 2017 it became the first organization to invoice freight in cryptocurrency for about 3000 metric tons of Russian wheat from Rostov-on-Don, Russia to Samsun, Turkey. Prime Shipping Foundation is an open-source project by Gibraltar-based Quorum Capital and shipping broker Interchart LLC to provide the ... Read More »

Pakistan sings FTA with China, Malaysia, Sri Lanka so far

ISLAMABAD: Minister for Commerce and Textile Muhammad Pervaiz Malik on Tuesday informed the Senate that Pakistan has signed bilateral Free Trade Agreements (FTA) with China, Malaysia and Sri Lanka so far. Replying to various questions during Question Hour, the minister said in China Pakistan FTA (CPFTA), both sides had already started negotiations for the second phase of FTA since 2012. ... Read More »

Signs point to revival in international use of China’s yuan

HONG KONG: The sale of a 900-million-yuan ($140 million) offshore bond has added to signs that the international use of the Chinese currency is recovering after several years in the doldrums. Yuan deposits in Hong Kong, the biggest offshore center for the Chinese currency, are their highest in a year and Germany’s central bank, the Bundesbank, said it is looking ... Read More »

World’s richest 1% get 82% of the wealth says Oxfam

NEW YORK: The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed. Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said. Oxfam said ... Read More »

IBM joins Microsoft, Amazon Atop Cloud world

NEW YORK: Accelerating its remarkable turnaround and establishing itself among the top 3 enterprise-cloud players, IBM’s cloud revenue for the year rose 24% to $17 billion and jumped $30% in the fourth quarter to $5.5 billion. With cloud revenue now making up 21% of IBM’s total revenue of $79.1 billion, IBM’s reinvigorated technology and market focus have allowed the company ... Read More »

HSBC to pay $101.5m to settle currency rigging probe

NEW YORK: HSBC has agreed to pay $101.5m (£73m) to settle a US criminal investigation into the rigging of currency transactions. The case, brought against the UK-based bank by the Department of Justice in New York, centred on the activities of traders accused of using confidential information provided by clients to the benefit of the bank. One former British employee, ... Read More »