Business

COPENHAGEN: The European Union needs tougher anti-fraud controls including a central body able to enforce laws against money laundering, European lawmakers said, describing financial crime as as a security problem for the continent. Curbs should be more uniform across the EU and its framework for swapping financial intelligence is inadequate ...

KABUL: The World Bank provided a grant of 235 million US dollars to Afghan government to support its efforts for development and stimulating growth in the country, Afghan Ministry of Finance reported on its website. Acting Minister of Finance Humayon Qayoumi and World Bank country director for Afghanistan Shubham Chaudhuri ...

NEW DELHI: Indian police have arrested a couple suspected of murdering an Uber driver in order to steal his car. Police said the couple had admitted giving Ram Govind tea laced with a sedative after he drove them to their home in Ghaziabad, a satellite city of New Delhi. They then ...

MUMBAI: India’s Jet Airways has grounded four planes after failing to pay lessors, the airline said, in the latest evidence of financial distress at the debt-laden carrier. The airline – India’s second-largest by market share – is buckling under the weight of debts worth $1.1 billion and is urgently seeking ...

CAIRO: Egypt has received the fifth installment of the International Monetary Fund (IMF) loan, worth $2 billion, an official source at the Central Bank of Egypt (CBE) said, adding that the new batch of the IMF loan will be used to support the state budget and will have positive repercussions ...

ISLAMABAD: As a major sign of increasing economic cooperation, Pakistan and Russia on Wednesday signed an inter corporate agreement for the laying of more than 1,500 km offshore gas pipeline costing $10 billion that would be transporting natural gas from the Russian gas company Gazprom’s sources in the Middle East ...

PARIS: European Union leader Donald Tusk on Wednesday condemned those calling for Brexit with no idea how to carry it out, saying he hopes Theresa May now has a “realistic” plan. The British prime minister is due in Brussels on Thursday to discuss ways to ensure Britain’s orderly withdrawal from ...

PARIS: Apple said Tuesday it had reached an agreement with French authorities to settle 10 years of back taxes, becoming the latest US company to reach a deal with France which has led a European push for higher taxes on tech giants. French news weekly L’Express reported that Apple had ...

LONDON: A malware campaign distributing a new Backdoor Trojan named SpeakUp is currently targeting servers running six different Linux distributions and macOS by exploiting a number of known security vulnerabilities, while also managing to evade all anti-malware solutions in the process. Backdoor Trojans are malware capable of providing attackers with access to compromised ...

TOKYO: There is still time to find a solution to Britain’s exit from the EU, German Chancellor Angela Merkel said Tuesday, voicing optimism on a political deal over the tricky “backstop” that has stymied progress. Speaking to Japanese and German business leaders in Tokyo, Merkel stressed that “on the one ...