Vistros

Dubai: The UAE Cabinet has given its backing for a relook at the country’s Agency Laws by getting such businesses — dominated by family-owned enterprises — to go for IPOs (initial public offerings). A draft law to this effect has been issued, and with more details to follow on such a transition can be made. Much hinges on the level of shareholding that promoters will need to […]

Southfield, Michigan: Toyota Motor Corp has poured more money into yet another North American plant to boost production of the SUVs and trucks US customers increasingly seek instead of sedans. The Japanese automaker said it has spent $700 million and hired 150 new workers at its plant in Princeton, Indiana, mostly to increase output of its Highlander Sport Utility Vehicle. The outlay is part of a […]

Beijing: Chinese manufacturers offered the biggest support to the country’s economic stabilisation in the last three months of 2019, thanks to easing trade tensions and improving global demand. Output in industrial enterprises rose 5.9 per cent from the same period in 2018, the National Bureau of Statistics said on Saturday, bouncing back from an almost decade-low of 5 per cent in the prior […]

DUBAI: Dubai’s non-oil foreign trade volumes surged to 83 million tonnes in the first nine months of 2019, revealed Dubai Customs on Saturday. These figures represent an increase by 22 per cent year-on year from 68 million tonnes during the same period in 2018. According to the customs authority, the volume of re-exports jumped 48 per cent to 13 million tonnes, while exports rose by 47 per […]

Beirut: Lebanese Eurobonds maturing in March dropped the most on record as the threat of a downgrade to near default added to selling pressure. The bond tumbled about 7 cents on Friday to 80 cents on the dollar, the biggest daily decline on record for the country’s 2020 notes and approaching a record-low reached in November. A central bank offer for local banks to swap their holdings of the […]