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Author Archives: admin

Spain creates nearly 600,000 jobs in a year, but unemployment rises in first quarter


The Spanish labor market is proving to be more resilient than most people expected at a time of internal and external uncertainty. While unemployment grew in the first quarter of 2019, the Spanish economy has created 596,900 jobs over the past 12 months, representing a 3.14% increase, according to data released on Thursday by the National Statistics Institute (INE). This ... Read More »

AutoWallis decides on new board member, dividends


At the annual meeting of AutoWallis several important issues such as dividend payments were decided by the companyʼs shareholders besides the adoption of last yearʼs report and the election of a new member of the board of directors, according to a press release sent to the Budapest Business Journal. The company decided on dividends to be paid to the pre-emptive ... Read More »

Oman’s share index ends lower


Muscat: Muscat Securities Market (MSM) 30 Index on Wednesday lost 26.16 points, comprising a decline by 0.67 per cent to close the session at 3,874.97 points, compared to the last session, where the index closed stood at 3,901.13 points. The trading value stood at OMR922,785, comprising a decline by 40.7 per cent, compared to the last session, where it stood ... Read More »

IRD urges firms, individuals to deposit taxes


At a time when government is under pressure to meet the revenue collection target for the current fiscal year, the Inland Revenue Department (IRD) has started using various measures to collect revenue from the market. Along with market inspection, IRD has also started to publish notices citing names of large tax payers who are yet to clear their tax dues ... Read More »

Kuwait Port Authority posts $159m net profits for ’18-19


KUWAIT CITY: Kuwait Port Authority (KPA) reported net profits of KD 48.4 million, equaling USD 159 million, for the fiscal year 2018-2019. In addition to other KD 97.45 million (USD 318 million) profits made in that same fiscal year, this is, so far, the highest revenue in KPA’s history since its establishment, KPA’s Director- General Sheikh Youssef Al-Abdullah Al-Sabah said ... Read More »

US-Qatar Business Council welcomes Qatar’s new Commercial Attaché to US

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The US-Qatar Business Council (USQBC) has hosted a reception to welcome Fahad al-Dosari, Qatar’s newly appointed Commercial Attaché to the US. The reception welcomed over 60 members of the business community and was hosted at the recently opened Conrad Hotel near CityCenterDC, which is one of Qatar’s first major investments in the US, totalling over $650mn. Al-Dosari is the first ... Read More »

Investment Opportunities: 7 Solar Energy Projects


The National Investment Commission (NIC) has published details of a new round of solar energy projects: The Ministry of Electricity is please to invite local, regional and international Independent Power Producers (IPP) to submit Expressions of interest (EOI) to embark into a proposed reverse auctioning round for SEVEN (7) Green field solar PV IPP projects (each a “project”) with a ... Read More »

India has made many important contributions to Afghanistan’s development: US


The US on said its Special Representative for Afghan peace Zalmay Khalilzad has recognised the many important contributions India has made to Afghanistan’s development in his talks with top Indian government officials during his two-day visit here. Khalilzad held consultations with Indian government officials and other stakeholders on the Afghan peace process during his May 6-7 visit here, the US ... Read More »

LINE to invest additional US$100 million in Taiwan


LINE Corp., the mobile messaging and communication services supplier, said Wednesday that it will invest an additional US$100 million in Taiwan after an earlier investment in the local Internet-only banking business. In a news conference, Jungho Shin, LINE’s co-chief executive officer, said that as LINE moves toward its next stage of growth, Taiwan is one of the markets the company ... Read More »

European shares tumble amid trade tensions

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European shares dropped broadly on Thursday as investors shunned risky assets while waiting to see whether United States and China manage to avoid a trade war which would damage the global economy. The pan-European STOXX 600 index had dropped 0.7 percent by 0720 GMT, touching a fresh four-week low. U.S. President Donald Trump said on Wednesday that China “broke the ... Read More »

Indonesia plans to construct 4,479 km toll roads by 2030


The government plans to develop 4,479.33 kilometers of toll roads by 2030 in addition to the 1,500 km toll road projects that are to be completed in 2024 to support mobility, an official has announced. The Public Works and Housing Ministry’s road development director general, Sugiyartanto, said the new toll roads would particularly open access to tourist destinations and other ... Read More »

‘Airbus considers legal action against Germany over Saudi ban’

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BERLIN: Airbus is considering suing the German government as its freeze on arms exports to Saudi Arabia means the company is unable to complete a border security system for the Gulf state, two people familiar with the matter said. In October, Germany decided to reject future arms exports licenses to Saudi Arabia over the killing of journalist Jamal Khashoggi, and ... Read More »

Belgian tax evader eyes Dublin student flats plan


Didier De Witte, a Belgian millionaire who was this year sentenced to prison for a €1m-plus tax dodge, is behind plans for a 319-bed student accommodation scheme in Dublin. The former chief financial officer of the Cork-based Ditchley Group, Greg McGinn, is acting as an agent for the businessman’s company in Ireland. Speaking to the Irish Independent, Mr McGinn conceded ... Read More »

Reserve Bank cuts Official Cash Rate to record low 1.5 per cent

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The Reserve Bank has cut the Offical Cash Rate to a record low 1.5 per cent and signaled further cuts will follow. The RBNZ cut the rate from 1.75 per cent at 2pm. The kiwi dollar dropped half a cent on the news to US65.55c “The Monetary Policy Committee decided a lower OCR is necessary to support the outlook for ... Read More »

BHP faces $5 billion claim over 2015 Brazil dam failure


Anglo-Australian mining giant BHP is facing a landmark, $5.0 billion damages claim in England for being “woefully negligent” in the run-up to a 2015 dam failure that led to Brazil’s worst environmental disaster, a lawsuit alleges. The claim, which will be largest group action to be heard in England, was served on the miner on Tuesday on behalf of 235,000 ... Read More »

Japan April services PMI slips as new business growth slows


TOKYO: Activity in Japan’s services sector expanded at a slightly slower pace in April than the previous month as growth in new business slowed, a business survey showed on Wednesday. The Markit/Nikkei Japan Services Purchasing Managers’ Index (PMI) edged lower to a seasonally adjusted 51.8 in April from 52.0 in March. The index stayed above the 50 threshold that separates ... Read More »

KB Kookmin Bank Sets up IB Unit in New York


KB Kookmin Bank announced on that it has opened an investment banking (IB) unit in New York local time. The New York unit is the bank’s third IB unit following those in Hong Kong and London. Based on the three regional hubs which are set up in the global centers of IB deals, KB Kookmin Bank is planning to strengthen ... Read More »

Charges Against GST, Customs Officials For Helping In Smuggling Gold


NEW DELHI: The Central Bureau of Investigation has charged three Customs and GST officials based in Bengaluru for allegedly helping smugglers bring gold from Dubai in the form of paste, officials said on Tuesday. The agency had received information that Directorate of Revenue Intelligence officials had intercepted six international passengers who were handing over smuggled gold to some receivers. During ... Read More »

Philippine GDP growth drops to 4-year low in Q1 2019

Construction workers carry on with their work on the eve of the Labor day celebrations as different labor groups around the country push for an increase in the minimun wage to 750 pesos. The government has yet to decide on the proposal by labor groups. April 30, 2019

MANILA, Philippines: Analysts and experts expected economic growth to slow down, but not as slow as this. The Philippines’ gross domestic product (GDP) growth for the 1st quarter of 2019 plunged to a 4-year low of 5.6%, said the Philippine Statistics Authority (PSA) on Thursday, May 9. The 1st quarter growth is the lowest since the 5% recorded in the ... Read More »

Thai banks on 156 billion baht spending spree for recovery

Thai Airways International is seeking cabinet approval to buy or lease 38 new planes at an estimated cost of 156 billion baht. In the proposal 31 planes will be acquired over the next five years. Thai Airways president Sumeth Damrongchaitham says the proposal would reach Deputy PM Somkid Jatusripitak this week and be put to the cabinet later this month. ... Read More »