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SNB cuts inflation outlook
ZURICH: The Swiss National Bank (SNB) lowered its inflation forecasts, indicating the central bank (CB) is likely to maintain its ultra-loose monetary policy well into next year or later. The central bank kept its negative interest rates policy on hold, citing a “fragile” foreign exchange market and rising protectionism, as unanimously forecast by 36 economists polled by Reuters. But the SNB now sees consumer prices rising 1.2
Rocket responds to investor calls for share buyback
BERLIN: German ecommerce company Rocket Internet responded to investor calls to use some of its 2.1 billion euro cash pile with a plan to buy back shares worth up to 150 million euros ($175 million), 3.6 per cent of its outstanding stock. Shares in Rocket, which had a shaky start after listing in 2014 but have risen by more than a third this year after the IPOs of start-ups Delivery Hero, HelloFresh and Home24, were up by 3.3
RDIF plans more investments with China’s Alibaba
MOSCOW: Sovereign wealth fund Russian Direct Investment Fund (RDIF) plans more investments with China’s Alibaba after the two became partners in a Russian joint venture (JV) last week and separately invested in a developer of augmented reality technology, the RDIF’s head said. Last week, China’s largest e-commerce firm, Alibaba Group Holding, joined forces with RDIF and two technology
Vista Global sees higher demand for Bombardier jets
MONTREAL: Canadian aircraft leasing company Vista Global, one of the largest customers for Bombardier’s long-range Global 7500 business jet, said it expects greater demand for the plane after Canadian and US regulators certify the aircraft. Bombardier expects Canadian certification this month, a necessity if the Montreal-based plane-and-train maker is to begin delivering its flagship business jet to
Ferrari plans to launch 15 new models
MARANELLO: Ferrari plans to introduce 15 new models, including hybrids, a utility vehicle and special editions in its drive to hit a softened but still exacting mid-term earnings target. The Italian supercar maker shifted to an adjusted core earnings forecast range of 1.8-2.0 billion euros ($2.1-2.3 billion) by 2022, rather than the doubling to 2 billion promised by late Ferrari chief Sergio Marchionne. Investors, who are
Italy’s coalition urges economy minister to be looser on deficit
ROME: Italy’s populist ruling coalition called on Economy Minister Giovanni Tria to allow greater deficit spending in next year’s budget in order to make good on campaign promises, causing jitters in financial markets worried about debt. Pressure on Tria has increased as a Sept.27 deadline approaches to set the deficit and debt targets for next year’s budget, which must be presented to parliament by Oct.20. Italy’s public debt
Australia kills three sharks after tourist attacks
SYDNEY: Three large sharks have been killed in Australia after a woman..
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China navy ship makes maiden visit to Venezuela
SHANGHAI: A Chinese naval ship has travelled to Venezuela for the firs..
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Indonesia kicks off presidential race as currency slumps
JAKARTA: Campaigning for Indonesia's presidential election in April ki..
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Two car bombs explode in Somali capital, one dies
MOGADISHU: One person died and another was injured in two car bombs th..
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DSOA opens 'North Park', a new community park
DUBAI: Dubai Silicon Oasis Authority (DSOA), the regulatory body for D..
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Supreme Court nominee assault storm fans #MeToo flames
WASHINGTON: When US President Donald Trump demanded to know why his Su..
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16 killed in Pakistan anti-terror operation
ISLAMABAD: The Pakistan Army has announced that nine militants and sev..
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Tanzania ferry disaster toll passes 200
NAIROBI: The death toll from a crowded ferry capsizing in Lake Victori..
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US proposes blocking visas for those using public benefits
WASHINGTON: US President Donald Trump's administration has revealed a ..
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Pakistan issues flood alert as heavy rains expected
ISLAMABAD: The Pakistan Met Department has issued a flood alert as hea..
Added : 2 hours ago
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