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China’s industrial profits up
BEIJING: Profits at China’s industrial companies surged 16.7 per cent in May from a year earlier, accelerating from 14 per cent in April in spite of expectations of a slowdown as borrowing costs rise and the property market cools. Analysts say factory earnings’ surge is supported by demand for building materials. For the first five months of the year, profits reached 2.9 trillion yuan ($424 billion), up 22.7 per cent from the
Alphabet’s car unit partners with Avis
NEW YORK: Waymo, the self-driving car unit of Alphabet, said it signed a multi-year agreement with Avis Budget Group for the car rental firm to manage its growing fleet of autonomous vehicles, sparking a surge in Avis Budget’s stock. Investors bid Avis shares up by as much as 21 per cent on Monday, the biggest intraday per centage gain for the stock in more than five years. The shares closed at $27.67, up about 14 per cent.
Akzo Nobel’s specialised chemicals unit seeks capital
AMSTERDAM: Akzo Nobel’s specialised chemicals division would expand quickly and profitably if it gets an injection of capital after being sold or listed, its chief executive Thierry Vanlancker told Reuters. As part of its successful defence against a takeover by US rival PPG Industries, Akzo said it would create value for shareholders by splitting off its speciality chemicals business by April next year. The Dutch company,
Apple, Cisco to push cyber security insurance
NEW YORK: Apple is working with Cisco Systems to help businesses that primarily use gear from both companies to get a discount on cyber-security insurance premiums, Apple Chief Executive Officer Tim Cook said. Sharing a stage with Cisco CEO Chuck Robbins at a Cisco event in Las Vegas, Cook said the combination of gear from the two companies was more secure than the use of competing technology, such as the Android mobile
GM lowers outlook for new vehicle sales in US
DETROIT: General Motors (GM) now expects US new vehicle sales in 2017 will be in the “low 17 million” unit range, reflecting a widespread expectation that the industry is headed for a moderate downturn, a top executive said on Monday. “The market is definitely slowing. It’s something we are going to monitor month to month,” Chief Financial Officer Chuck Stevens told analysts on a conference call. “Pricing is more challenging.”
'Italian banking rescue may damage European integration'
FRANKFURT: Italy’s multi-billion-euro closure of two lenders drew sharp criticism on Tuesday for hurting a project devised to underpin confidence in the eurozone during the financial crash. As lawmakers digested details of the rescue, which involves the state rather than investors bearing most of the cost, many criticised Rome for breaking with the spirit of a framework known as banking union - and the European Commission in
List of victims of the global cyberattack
Paris: A major cyberattack unfolded on Tuesday, striking banks, corpor..
Added : 7 hours ago
Driverless police cars to patrol Dubai streets round the clock
DUBAI: Singapore start-up OTSAW Digital has signed a memorandum of und..
Added : 7 hours ago
Three migrants die as thousands rescued in seas off Libya
ROME: Three migrants died in the Mediterranean on Monday night, a Germ..
Added : 8 hours ago
Kiev airport hit by cyber attack, delays possible
KIEV: Kiev's main airport has been hit by a "spam attack" that could c..
Added : 9 hours ago
UAE leaders congratulate Djibouti's president
Added : 9 hours ago
Sharjah realises international position in writing, culture
SHARJAH: Habib Al Sayegh, Chairman of the Emirates Writers Union and S..
Added : 9 hours ago
China lodges protest, asks India to withdraw troops
BEIJING: China on Tuesday said it has complained to India about Indian..
Added : 9 hours ago
Iraqi forces set sight on Old City riverside
MOSUL: Iraqi forces on Tuesday pushed towards the river side of Mosul'..
Added : 11 hours ago
50,000 Delhi cloth shops down shutters to protest GST
NEW DELHI: Around 50,000 wholesale cloth shops were shut in the nation..
Added : 10 hours ago
100-year-old Emirati saved from colon emergency
DUBAI: A team of medical doctors from Dubai’s Al Zahra Hospital in Dub..
Added : 9 hours ago
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