Wednesday, February 22, 2017
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HSBC 2016 profit slumps 62%, shares dive over 7%

Reuters HONG KONG/LONDON, HSBC's full-year profit slumped 62 percent and fell far short of forecasts on Tuesday as the bank took hefty writedowns from restructuring and flagged near-term brakes on revenue growth. Shares in ..

'Proposed 3-way merger to benefit Qatari banks'

Tribune News Network Doha A proposed merger between three Qatari banks Masraf Al Rayan, Barwa Bank and International Bank of Qatar if successfully completed, would create the largest Islamic bank and second largest bank in Qatar, ..

Saudi sees first deflation in over a decade, may be short-lived

Reuters DUBAI Consumer price deflation hit Saudi Arabia in January for the first time in over a decade, official data showed on Tuesday, but plans for increased state revenues mean prices are unlikely to continue falling for more ..

Tribune News Network Doha Qatar's real GDP growth is expected to recover in 2017-18 with the non-hydrocarbon sector continuing to be the main driver of growth for a number of reasons, according to a report based on the analysis of ..

Al Meera Consumer Goods Company (QSC) has reported a net profit of QR199.2 million in 2016 compared to to QR162.1 million in 2015. According to a company statement issued to the Qatar Stock Exchange, the company's earnings per ..

Libya's National Oil Corporation (NOC) has signed a crude oil offtake agreement with Russia's Rosneft as it looks to encourage foreign investment and bolster Libyan output, the NOC said on Tuesday. The NOC and Rosneft also ..

Tribune News Network Doha In the Middle East, Dubai and Doha are fast becoming smart cities with a significant uptick in the adoption of smart services and increase in infrastructure spending, a report by Expotrade, a ..

Reuters DUBAI Dubai's stock market fell on Tuesday, breaking technical support as construction firm Arabtec continued to slide, while Egypt rebounded from a drop triggered by foreign investors'selling. Dubai's ..

Reuters NEW YORK Oil prices rose about 2 percent to near three-week highs on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher as it expects other ..

Reuters MUMBAI Reliance Industries'Jio telecoms unit will charge for its services from April, ending an almost seven month spree of free calls and data that shook up India's telecoms sector and helped the new arrival rack ..

Oil output at BP-led oilfields in Azerbaijan in 2016 edged down to 630,000 barrels per day (bpd) from 634,000 bpd a year ago, BP-Azerbaijan said on Tuesday. Natural gas production from the Shah Deniz offshore fields in Azerbaijan was ..

Saudi Arabia has invited banks to pitch for an advisory role in the sale of Saudi Postal Corp to investors, sources familiar with the matter told Reuters. The country is launching a privatisation drive as part of wider economic ..

PSA Group has pledged to respect existing Opel and Vauxhall job guarantees if it buys the European arm of General Motors, though some analysts say thousands of jobs are eventually likely to go for the deal to work. As part of a broader ..

Japan's Toshiba Corp wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the ..

Reuters DUBAI The government of Oman is expected to announce the launch of a new US dollar bond issue this week as it seeks to plug a budget deficit caused by low oil prices, sources familiar with the matter said on Tuesday. Citi, HSBC, JP ..

Reuters LONDON Bank of England Governor Mark Carney faced a challenge from lawmakers on Tuesday over the way the BoE changed one of its fundamental assumptions about Britain's economy, which helps it justify keeping interest ..

Reuters SINGAPORE/NEW DELHI/BEIJING China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the ..

AP NEW YORK Yahoo is taking a $350 million hit on its previously announced $4.8 billion sale to Verizon in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts. The ..

Reuters CAIRO Egypt's central bank has agreed with Egyptian investors to settle credit lines opened before it floated the pound in November, alleviating debts that threatened the closure of some firms, bankers said on ..

Reuters LONDON Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its ..

IANS New York The much-anticipated video recording 'Spectacles' from photo-sharing service Snapchat is now available online for users in the US at $129.99. Snapchat 'Spectacles' record video and pair to ..

Being part of the global billionaire class is beyond the imagination of most people. At the threshold of $1 billion, a 5 percent return would yield an annual interest payment of $50 million — without ever touching the principal. But ..