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France, the Netherlands make up after Air France-KLM share purchase


The Netherlands and France have issued a joint statement confirming their determination to make the Air France-KLM combo ‘the best airline in the world’. Dutch finance minister Wopke Hoekstra was in Paris on Friday morning for talks following his surprise announcement earlier this week that the Netherlands had bought a stake in the airline holding company to secure the country’s ... Read More »

Central bank policy-makers maintain base rate


The Monetary Council of the National Bank of Hungary (MNB) decided once again to keep the central bankʼs key rate on hold at 0.90% at a monthly policy meeting on Tuesday. However, rate-setters have made use of “unconventional, targeted” instruments to ease monetary policy further, state news agency MTI reported. The Council has left the base rate on hold since ... Read More »

Britons face five-hour airport queues in Spain with no-deal Brexit


British tourists to Spain could face airport queues of five hours or more after a no-deal Brexit, according to analysis by Which?, and the consumer group suggests travellers should take food, water and even nappies to survive prolonged delays. Alicante airport, which serves Benidorm and other Costa Blanca resorts, is likely to be the worst-affected airport, and Which? said visitors ... Read More »

Burned by Russia, Poland Turns to US for Natural Gas and Energy Security


Gargantuan tankers pull into this port on the Baltic Sea twice a month, ferrying liquid natural gas from producers in Qatar, Norway and, increasingly, the United States. The fuel will help light and heat millions of Polish homes, while gradually cutting the country’s dependence on coal. This fuel is also an important geopolitical strategy. Poland is determined to end its ... Read More »

‘Value creation in deals hard to find’


Muscat: A PwC and Mergermarket study of 600 global senior corporate executives has found that only 61 per cent of buyers believe their last acquisition created value. However, acquirers that prioritise value creation from the onset of the deal outperform their industry benchmark by 14 per cent on average, 24 months after completion, while divestors that prioritise value creation can ... Read More »

Nepal-India Trade Treaty Review Meeting 2019


In a bid to address Nepal’s trade concerns, Nepal and India held the Nepal-India Trade Treaty review meeting during February 07-09, 2019. Senior officials from Nepal and India met at Pokhara to review the 2009 Trade Treaty signed by both countries. The two-day meeting is the second Nepal-India Joint Secretary-level meeting since 2009, where India will respond to Nepal’s proposal ... Read More »

Kuwait’s Jazeera Airways introduces self-check-in kiosks


Jazeera Airways, the Kuwaiti low-cost airline, has introduced self-check-in kiosks at its Terminal 5 at Kuwait International Airport The airline has also introduced free WiFi internet service at its gates at T5 for passengers. The terminal building also has a number of new restaurants and duty free shops. “These additional amenities and services at our dedicated Jazeera Terminal are raising ... Read More »

Hamad Port customs thwarts smuggling of prohibited material


Doha: The General Authority of Customs thwarted the attempt to smuggle ”chewing tobacco” during inspecting a container loaded with 600 packets of paper cups, at Hamad Port. During the inspection, the customs inspector noticed that there was a difference in the classification and packing of the parcels. Following inspecting the parcels, he found 959 bags of chewing tobacco hidden under ... Read More »

Oil Smugglers can count on Corruption in Iraq

Oil Japan refinery

Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Accusations are flying about oil smuggling in Iraq’s Ninevah province, and many accusers say government officials, armed factions and other powerful parties are involved. Representatives of the province, including parliament member Ahmed al-Jubouri, have said recently that oil is being ... Read More »

Israeli Special Ops Troops Thwart Smuggling of Guns from Jordan


Soldiers of the Border Police’s Tactical Brigade and IDF forces on February 7 thwarted the smuggling of dozens of handguns from Jordan into Israeli territory, the Border Police. This was a complex operational activity that combined very advanced technological means with combat soldiers who operated in a number of ways, including observation, ambushes and confidential methods of operation,” the commander ... Read More »

Narcotics factory, weapons depot destroyed in Helmand


KABUL (Pajhwok): National Directorate of Security (NDS) on Sunday said Afghan Special Forces destroyed a drug factory and a weapons depot belonged to the Taliban in Marja district of southern Helmand province. A statement from the NDS received by Pajhwok Afghan News said that Afghan Special Forces launched an operation in Marja district of Helmand. The source said that a ... Read More »

Japan startups bring prototyping home from Shenzhen and Taiwan


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Belgium has traits of a tax haven, European Parliament commission finds


Belgium and six other European countries “display traits of a tax haven and facilitate aggressive tax planning,” the European Parliament noted on Wednesday in a report by its Special Commission on Financial Crimes, Tax Evasion and Tax Fraud. In an immediate reaction to the finding, Socialistische Partij Anders (sp.a) europarliamentarian Kathleen Van Brempt accused Belgium’s government of “actively ensuring that ... Read More »

Air New Zealand half year profit down 35 per cent on previous six months to $152m


Air New Zealand has posted a $152 million profit for the second half of 2018, an $80m drop on the previous six months. The after tax profit for the six months to December 31 was a 35 per cent drop from the $232m posted for the first six months of 2018 and the airline is warning of more headwinds in ... Read More »

Brazil’s Petrobras posts first annual profit in five years


razilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday, as widely expected. In a securities filing, Petrobras, as the company is known, said net income in the fourth quarter totalled 2.102 billion reais (423.37 million pounds), up from a loss of almost 5.5 billion reais in the same period last year. Net ... Read More »

Qatar, China, Japan sought ‘extras’ after Barclays 2008 fundraising – court


Qatari, Chinese and Japanese investors all sought “extras” from Barclays as the British bank raised billions of pounds at the height of the credit crisis in 2008, a landmark London criminal trial heard on Wednesday. Glenn Leighton, a former Barclays director and a witness for the Serious Fraud Office (SFO) prosecutor, told Southwark Crown Court that these agreements with Qatar, ... Read More »

Korea’s MBI to Establish EV Plant in Vietnam

GM Vietnam Plant_1_4

MBI, a Korean manufacturer specializing in making transmissions, will build an electric car plant in Hanoi, Vietnam, jointly with local firm N&G Group. The two companies will invest a total of US$1 billion for the next seven years. The companies said on September 21 that the heads of the two companies signed an agreement to establish a joint venture called ... Read More »

Father, Son Arrested With Foreign Currency Worth Rs. 68 Lakh At Delhi Airport


NEW DELHI: A father and son were arrested by customs officials for allegedly trying to smuggle out foreign currency worth Rs. 68 lakh at Delhi airport, an official statement said on Wednesday. While the father was trying to hide the currency in his hand-baggage, a significant amount of forex was hidden by his son in rectum. The duo, who had ... Read More »

9 reasons why the Philippines is ripe for business in 2019


MANILA, Philippines – The Philippine government’s economic managers missed their growth targets in 2018. This year, they are confident that they can do better. The country’s top economic experts are banking on legislative developments and several external conditions to spark growth and a better environment for doing business. Finance Secretary Carlos Dominguez III recently told the business community in Japan ... Read More »

Thailand Approves 40 Billion Baht Projects To Promote EEC Development


The Thailand Board of Investment (BOI) has approved investment incentives for five projects with a total investment of value of over 40,462 million baht ($1.3 bln). The highest investment proposal comes from a Chinese investor, Ju Xunning, who plans to invest 10.06 billion THB (322 million USD) to establish a car tyre production project in Chon Buri province. A project ... Read More »