Category Archives: Top Markets

Citibank: ‘We’re committed to Saudi Arabia and here to stay’

DUBAI: Business journalists had a problem when Carmen Haddad was appointed chief executive of Citibank in Saudi Arabia earlier this year: What was the top story?Was it the fact that a woman had been appointed to such a high-profile job ...

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German pilots’ union calls strike against Ryanair

Related Articles FRANKFURT: Germany’s powerful pilots’ union said Tuesday members would strike at low-cost carrier Ryanair for better pay and conditions, although they insisted they would not disrupt flights over the Christmas holiday.Pilots “announce a strike at Ryanair,” the Cockpit ...

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IMF says Sudan must float currency to boost growth, investment

Related Articles CAIRO: The International Monetary Fund (IMF) has urged Sudan to float its currency to boost growth and investment, a measure the government has opposed even after the United States lifted 20 years of sanctions in October.The government would ...

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Indian expats in Riyadh recall rich contribution of Maulana Azad

Indian expatriates in Riyadh, many of them alumni of Hyderabad’s historic Osmania University, celebrated their country’s National Education Day to commemorate the birthday of Maulana Abul Kalam Azad (1888-1958), one of India’s most prominent independence heroes, a renowned Islamic scholar ...

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British inflation soars to six-year high

Related Articles LONDON: British inflation has hit its highest level in almost six years, official data showed Tuesday, forcing Bank of England governor Mark Carney to explain the rise in an exceptional letter.The Consumer Price Index climbed to 3.1 percent ...

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‘No way to properly’ short bitcoin bubble, expert warns

LONDON: Nassim Nicholas Taleb, an academic and expert on the derivatives market, has tweeted a warning about using future contracts to hedge the rising price of bitcoin.In a Tweet dated Dec. 9, he said: “… there is NO way to ...

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Cairo, Moscow sign contract for Egypt’s first nuclear plant

CAIRO: Egypt and Russia signed a contract on Monday for the building of Egypt’s first nuclear power plant, during a visit to Cairo by President Vladimir Putin.The contract to build the plant in Dabaa on the Mediterranean coast was signed ...

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UAE sees only ‘moderate’ rise in shale output

ABU DHABI: The UAE expects only a “moderate” increase in output from US shale oil producers next year, even if oil prices maintain their steady upward trend.Suhail Al-Mazrouei, the Emirates’ minster for energy, told an audience at the Bloomberg Invest ...

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After bitcoin’s wild week, traders brace for futures launch

NEW YORK: The newest way to bet on bitcoin arrived on Sunday when bitcoin futures started trading.The first bitcoin future trades on Cboe Global Markets Inc’s Cboe Futures Exchange has given an extra kick to the cryptocurrency’s scorching run this ...

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Saudi and Egypt lead Mideast market rally

DUBAI: Major Gulf stock markets rose on Sunday in line with strength in global bourses at the end of last week, with Saudi Arabia and Egypt leading.The Saudi index rose 0.8 percent to 7,145, bouncing for a second straight day ...

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