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Saturday December 14, 2019
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17 , Rabi' ath-thani , 1441
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"BUSINESS"
December 13, 2019
Ministry of Health, Huawei sign MoU to collaboration on smart healthcare
RIYADH — Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, hosted global experts and leaders within the Kingdom’s ICT field at its sixth annual Huawei Day KSA event, recently held in the Ritz Carlton Hotel, to discuss the latest technologies and how they can be applied to lead the way into Saudi Arabia’s digitally-driven future.Digital transformation is a key component of unlocking major ...
December 13, 2019
German central bank slashes 2020 growth outlook
FRANKFURT AM MAIN, Germany — Germany's central bank on Friday slashed its 2020 growth forecast for Europe's largest economy in half, but said an export-powered rebound was on the cards in the following years.The Bundesbank predicted 0.6 percent expansion next year, half the pace it had reckoned with in its last outlook in June.That represents little change from the expected 0.5 percent reading for 2019, one third of last year's ...
December 13, 2019
Russia cuts key rate as inflation slows
MOSCOW — The Russian central bank cut its key interest rate to 6.25 percent on Friday as inflation continued to slow, and said it would consider further reductions in the first half of 2020."Inflation slowdown is overshooting the forecast," the bank said in a statement."If the situation develops in line with the baseline forecast, the Bank of Russia will consider the necessity of further key rate reduction in the first ...
December 13, 2019
Alitalia and Air Italy strike, flights canceled
MILAN — More than 300 flights were canceled on Friday in Italy due to a planned one-day strike by workers from Alitalia and Air Italy.Alitalia said in a statement that 315 flights were canceled on Friday, with another 40 canceled on Thursday night and Saturday morning. It was not immediately clear how many flights were canceled at Air Italy.The 24-hours strike, which involves pilots, flight attendants and ground personnel, was ...
December 13, 2019
Germany's Delivery Hero gobbles up S. Korean food app Woowa
FRANKFURT AM MAIN, Germany — German takeaway giant Delivery Hero on Friday said it had agreed to buy South Korea's largest food delivery app Woowa in a 3.6 billion euro ($4 billion) deal aimed at beefing up its presence in Asia.Delivery Hero will first acquire an 82-percent stake in Woowa before taking full ownership "over time", it said in a statement.The deal will see the firms combine forces to take ...
December 12, 2019
Wall Street rises as Trump tweets on China deal
NEW YORK — Wall Street rallied shortly after the open on Thursday as President Donald Trump said Washington and Beijing were close to a "BIG DEAL" on trade.The tweet instantly lifted the mood among investors, who had been holding their breaths, awaiting a decision from the White House on whether to proceed with a new round of tariffs on Chinese goods.Investors were also digesting commentary from the European Central Bank, ...
December 12, 2019
Lagarde launches major ECB review
FRANKFURT AM MAIN, Germany — Christine Lagarde on Thursday announced a major review of the ECB's tools and goals and said the eurozone slowdown was beginning to ease as she made her debut as president vowing to bring her "own style" to the job.Speaking at a Frankfurt press conference after chairing her first governing council meeting, Lagarde said the bank's "strategic review" would start next month and aim to be ...
December 12, 2019
Turkey slashes interest rates again
ANKARA — Turkey's central bank lowered its main interest rate by two percentage points to 12 percent on Thursday — the fourth drop since its boss was replaced in July, and a deeper cut than analysts had expected.The rate has halved from 24 percent in that time, as inflation has come under control.Consumer price inflation stood at 10.56 percent year-on-year in November, higher than the October figure of 8.55 percent, ...
December 12, 2019
EU flexes trade muscles after US cripples WTO
BRUSSELS — The EU on Thursday proposed a move to strengthen its power to hit back in global trade rows, looking for defensive alternatives after the US crippled the WTO.The new measures would hand Brussels powers to unilaterally decide countermeasures against other countries, a power that traditionally sits with the World Trade Organization in Geneva.Sometimes referred to as the supreme court of global trade, the WTO has since Wednesday been ...
December 12, 2019
Smooth-talking Lagarde faces first ECB grilling
FRANKFURT AM MAIN, Germany — New European Central Bank president Christine Lagarde makes her first monetary policy announcements on Thursday, with observers watching for clues about the bank's future direction and her plans for a major reassessment of its tools and goals.A statement to be issued at 1:45 p.m. (1245 GMT) is expected to unveil no change to predecessor Mario Draghi's ultra-loose monetary policy following Lagarde's maiden meeting of the ...
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