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Author Archives: admin

‘Carlyle in final talks to clinch $3.4 billion deal for Cepsa stake’

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Private equity firm Carlyle Group is ahead of other contenders to buy a 30 percent stake in Spain’s Cepsa for up to 3 billion euros ($3.4 billion), just four months after owner Mubadala shelved a listing of the energy company, three sources familiar with the matter. Carlyle, whose energy and natural resources division includes funds such as Neptune Energy, could ... Read More »

Problems with Hungary ‘not yet solved’ – says EPPʼs Weber

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Despite what he described as “constructive” dialogue with Hungarian Prime Minister Viktor Orbán in their meeting Tuesday, Manfred Weber, the leader of the European Peopleʼs Party (EPP) in the European Parliament, indicated afterwards that much remains to be done if Fideszʼs expulsion from the EPP is to be avoided. The head of the EU’s largest political group said the EPP ... Read More »

Oman’s share index ends lower marginally

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Muscat: The MSM30 index stood lower and closed at 4,082.68 points, down by 0.07 per cent. The MSM Sharia Index closed at 552.12 points, down by 0.23 per cent. Phoenix Power was the most active in terms of volume and in terms of turnover. Oman Fisheries, up 3.39 per cent, was the top gainer while the top loser was Al ... Read More »

Pay Pending Taxes: SC to Top Nepali Telecom Cos

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In a milestone move, the Nepal Supreme Court (SC) ordered telecom operators Ncell and Malaysia-based Axiata to pay ‘capital gains tax’ worth NPR 61 billion to the Nepal Government. The decision was reached by a five-member large full-bench including newly-appointed Nepal Chief Justice Cholendra SJB Rana and Justices Ananda Mohan Bhattarai, Meera Khadka, Bishwambhar Shrestha and Tanka Mokta. The justice-delivery ... Read More »

Kuwait joins growing Gulf ban on Boeing 737 Max planes

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Kuwait’s Directorate General for Civil Aviation (DGCA) has announced the suspension of operation of all Boeing 737 Max-8 planes, making it the latest Gulf nation to take action after the Ethiopian Airlines crash. The Kuwait News Agency cited a statement as saying that all Boeing 737 Max-8 flights, including transit flights, were suspended until further notice. Earlier on Tuesday, the ... Read More »

Barwa Bank’s AGM approves 15% cash dividend for shareholders

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Barwa Bank Group yesterday convened its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM), and approved all the items on the agenda of the meetings, including the Board’s recommendation to distribute cash dividends of 15 percent of the nominal value of the shares (QR1.5 per share). The Group reported a strong growth in its net profit for 2018 which ... Read More »

Iran’s Rouhani signs trade pacts in Iraq to help offset US sanctions

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BAGHDAD: Iraq and Iran signed several preliminary trade deals on Monday, Iraqi officials said, as Iranian President Hassan Rouhani began his first visit seeking to bolster Tehran’s influence and expand commercial ties to help offset renewed U.S. sanctions. The deals, among them a plan to build a railway linking the neighbors, emerged soon after the start of Rouhani’s visit, meant ... Read More »

Customs revenue target realization discussed in Kabul

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KABUL (Pajhwok): Acting Finance Minister and Chief Advisor on Infrastructure to the President on Wednesday held a meeting with provincial customs authorities on realizing the revenue target. A statement from the Ministry of Finance said Deputy Minister of Finance for Customs and Revenue was also present at the meeting. They discussed collection of revenue in a transparent way and completion ... Read More »

Jordanian manufacturer seals first ever deal in Middle East with Siemens

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AMMAN: Jordanian manufacturer Petra Engineering Industries Company on Monday signed the first ever deal in Jordan with international company Siemens to supply smart heating, ventilation and air conditioning (HVAC) systems and equipments. During the signing ceremony at Petra’s industrial facilities, 30km southeast of Amman, the company uncovered that this deal is Siemens’ first ever in the Middle East region. Petra ... Read More »

Taiwan, Eswatini ink 6-year US$12.7 million MOU on health care improvement

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Taiwan and Eswatini concluded a six-year US$12.7 million memorandum of understanding on health care improvement in the African nation, according to the Ministry of Foreign Affairs March 13. Signed by ROC (Taiwan) Ambassador Jeremy H. S. Liang and Eswatini Minister of Health Lizzy Nkosi in the capital Mbabane, the pact will see Taipei Medical University Hospital cooperate with various partners ... Read More »

US ‘warns Germany a Huawei deal could hurt intelligence sharing’

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The warning came in a recent letter from the US ambassador to Germany seen by the Wall Street Journal. The US has been lobbying its allies to boycott Huawei due to national security risks. The firm has pushed back against claims it poses a security threat including suing the US government. US ambassador Richard Grenell said the US would not ... Read More »

New Zealand govt plans to push on with its own digital services tax despite EU ructions

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A European Union decision to shelve plans for a European digital services tax won’t affect the government’s plans to introduce a similar tax here. That’s the message from Revenue Minister Stuart Nash. The government stated in February that it was looking at introducing a digital services tax of 2-3% which would bring in $30 to $80 million a year. EU ... Read More »

Brazil government kickstarts efforts to mine indigenous reserves: official

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BRASILIA: Brazil’s government wants to enact rules that allow mining in indigenous reserves which occupy 13 percent of the country’s territory and hopes it can get Congress to reconsider a decades-old proposal to do so, a Mines and Energy Ministry official. Mining Secretary Alexandre Vidigal de Oliveira was asked to clarify comments made last week by Mines and Energy Minister ... Read More »

Tokyo stocks end slightly lower

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Stocks closed marginally lower on the Tokyo Stock Exchange on Thursday, after erasing healthy early gains under the pressure of profit-taking. The 225-issue Nikkei average lost 3.22 points, or 0.02 percent, to end at 21,287.02. On Wednesday, the key market gauge shed 213.45 points. The Topix index of all first-section issues finished down 3.78 points, or 0.24 percent, at 1,588.29, ... Read More »

More Korean Companies Expected to Participate in Oil and Gas Projects in Malaysia

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The Ministry of Trade, Industry and Energy announced on that South Korea and Malaysia signed three MOUs during South Korean President Moon Jae-in’s state visit to Malaysia. The three MOUs include one between Korea Trade Insurance Corp. and PETRONAS. The MOU is for South Korean companies to take a greater part in the latter’s oil and gas projects in Malaysia. ... Read More »

Rice import applications reach 1.6 million metric tons

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MANILA: As the Philippines opens its market to cheap imported rice, the number of applications to bring in the commodity under the out-quota scheme has reached 1.6 million metric tons, almost near the projected record-high imports for the country. Based on the updated list released by the National Food Authority, 278 firms have already applied for the out-quota importation of ... Read More »

Bangkok Bank showcases innovative technologies from eight finalists

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Bangkok Bank InnoHub, the first global FinTech taccelerator in Thailand, has showcased innovations and real-use cases from the programme’s eight finalists to the public, potential investors and others in Thailand’s innovation ecosystem on Demo Day. The eight startups, which were selected from 128 applicants across 28 countries, have all passed a “real use-case” with Bangkok Bank, meaning that everyone has ... Read More »

South African Business Confidence Falls to Almost Two-Year Low

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South African business confidence fell to the lowest level in almost two years in the first quarter, with more than two thirds of respondents dissatisfied with current conditions. A gauge measuring sentiment declined to 28 in the first quarter from 31 in the final three months of 2018, FirstRand Ltd.’s Rand Merchant Bank unit and the University of Stellenbosch’s Bureau ... Read More »

Dutch customs seize 90,000 bottles of vodka believed to be for Kim Jong-un

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Dutch customs officials at the port of Rotterdam have seized 90,000 bottles of vodka believed to be destined for the North Korean leader, Kim Jong-un, and his army chiefs. The discovery, on the eve of Kim’s two-day summit with Donald Trump in Hanoi, was made after Dutch authorities flagged up the suspicious route and records of a Chinese-owned container ship, ... Read More »

Problems with Hungary ‘not yet solved’ – says EPPʼs Weber

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Despite what he described as “constructive” dialogue with Hungarian Prime Minister Viktor Orbán in their meeting Tuesday, Manfred Weber, the leader of the European Peopleʼs Party (EPP) in the European Parliament, indicated afterwards that much remains to be done if Fideszʼs expulsion from the EPP is to be avoided. The head of the EU’s largest political group said the EPP ... Read More »