Sunday, 24 March 2019

Business

Trump’s tariffs on $200 bn of Chinese imports kick in

WASHINGTON: Donald Trump’s threatened tariffs on another $200 billion of Chinese imports took effect on Monday, escalating a trade war between the world’s top two economies that is clouding the global outlook. The latest volley against Beijing brings the amount of goods hit by duties to more than $250 billion, ...

Read More »

Siemens nears multi-billion euro deal in Iraq

FRANKFURT: German engineering group Siemens is working on a deal worth up to 9 billion euros ($10.6 billion) to supply energy generation technology to Iraq, business daily Handelsblatt reported, citing government and industry sources. Siemens Chief Executive Joe Kaeser has travelled to Iraq to secure a memorandum of understanding with ...

Read More »

Delta flight makes emergency landing in Tokyo

TOKYO: A Delta Air Lines plane flying from Shanghai to Seattle made an emergency landing in the Japanese capital on Sunday for an equipment check, a Delta customer service representative said. Delta Flight 588, a Boeing 767-300ER, landed at Narita, she said, without elaborating on the checks or giving further ...

Read More »

Argentine central bank says sells $261mn in forex market

BUENOS AIRES: Argentina’s central bank sold $261 million in reserves on Tuesday, the monetary authority said in a statement announcing its latest intervention in the foreign exchange market aimed at easing the fall of the local currency. The peso fell 0.58 percent on Tuesday to 39.80 per dollar. The central ...

Read More »

BMW moves UK plant shutdown to just after Brexit

LONDON: German carmaker BMW said it will move the annual maintenance shutdown period for its British Mini plant to just after Britain is due to leave the European Union in April, in case there is no Brexit deal. Carmakers generally close their factories over the summer for a few weeks ...

Read More »

Germany rolls out world’s first hydrogen train

BERLIN:  Germany rolled out the world’s first hydrogen-powered train, signalling the start of a push to challenge the might of polluting diesel trains with costlier but more eco-friendly technology. Two bright blue Coradia iLint trains, built by French TGV-maker Alstom, began running a 100-kilometre route between the towns and cities ...

Read More »

Pakistan loses business deal worth $940 million

KUALA LAMPUR/KARACHI: Pakistan has lost a business deal worth $940 million after the foreign acquirer of a telecom business in the country faced delays in getting regulatory approvals from the Pakistan Telecommunication Authority (PTA), which is running without a proper head for about 10 months. According to a notice filed by ...

Read More »

US-China trade war enters new phase

WASHINGTON/BEIJING: President Donald Trump on Monday effectively broadsided one of the world’s largest trade relationships, announcing plans to proceed with tariffs on another $200 billion in US imports of Chinese goods. Taken with the $50 billion in tariffs already in place, this means roughly half of everything Americans buy from ...

Read More »

Amazon Investigates Report That Employees Leaked Data For Bribes

Amazon Inc. is conducting an investigation into employees that are said to offer sellers on its e-commerce program with an advantage by providing confidential internal data and other services in exchange for a fee. Employees are allegedly selling information on sales and searches to the independent merchants that operate on ...

Read More »

BMW drives to cut battery costs

NEW YORK: BMW AG plans more deals with mining companies to secure electric vehicle battery materials, and is open to forming alliances to share the costs of developing autonomous-vehicle systems, the automaker’s research and development chief told Reuters. BMW management board member Klaus Froehlich said automakers and large suppliers are ...

Read More »