Economy
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Saudi PIF-backed oil, gas driller ADES to proceed with IPO plan
Oil and gas driller ADES Holding, backed by Saudi Arabia’s so-ereign wealth fund, on Monday announced plans to proceed with…
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Evergrande: Crisis-hit Chinese property giant reports $4.5bn loss
Crisis-hit Chinese developer Evergrande has posted a 33bn yuan ($4.5bn; £3.6bn) loss for the first six months of the year,…
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China cuts stamp duty on stock trading to boost market confidence
China lowered the stamp duty on stock trades for the first time since 2008, marking a major attempt to restore…
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India sets $1,200 floor price for basmati rice after curbing export of non-basmati
India has imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments, the government said on Sunday,…
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China’s industrial profits in July extend slump into seventh month
Profits at China’s industrial firms fell 6.7 percent in July from a year earlier, extending this year’s slump to a…
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Malfunction at gas plant causes power outage in Sharjah
A technical malfunction at a gas plant in Sharjah caused power outages in several parts of the emirate on Friday afternoon, Emirates…
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Lebanon’s central bank will not print money to lend state, cover deficit
Lebanon’s central bank will not print money to lend the state or cover the crisis-hit economy’s projected deficit, acting central…
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Mastercard, Visa back away from Binance card partnerships
Mastercard Inc. and Visa Inc. stepped back from their card partnerships with Binance Holdings, distancing themselves from the cryptocurrency platform…
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Canada’s largest bank RBC warns of softer economy, plans job cuts
Royal Bank of Canada (RBC) warned of a softer economy ahead and plans to cut about 1,800 jobs after Canada’s…
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Qatar sovereign wealth fund invests $1 bln in Ambani’s retail arm
Qatar’s sovereign wealth fund invested $1 billion (82.78 billion rupees) into India’s biggest brick-and-mortar retailer as Asia’s richest man Mukesh…
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