Levant news

1 November 2018 11:41 AM Volvo ties up with Baidu to develop robotaxis in China

Volvo on Thursday said that it teamed up with Chinese internet giant Baidu to develop a driverless taxi in China

1 November 2018 10:51 AM Oil drops on rising supply signs, falling global economic sentiment

Oil prices dropped earlier on Thursday, extending losses in the previous session, with indications of rising supplies and mounting concerns about waning demand

Goods and Metals

31 October 2018 11:28 PM Oil down to 2.5M low

Nymex futures for December delivery fell by 10.8% for the month

Oil and Energy

31 October 2018 11:23 PM Gold records 1.6% monthly gains

Gold futures for December delivery went down by 0.8%

Goods and Metals

31 October 2018 11:07 PM ShopBack sheds light on opportunities in e-commerce

ShopBack gives shoppers cashback on purchases made from any of its more than 1,500 partner merchants

Global Reports

31 October 2018 11:01 PM Zombie companies pose labour risk

A zombie firm is one that is at least 10 years old but is unable to cover its costs with its profits

Global Reports

31 October 2018 07:40 PM Hyundia, Kia to launch solar-charging auto roofs

Two South Korean automakers on Wednesday unveiled plans to install a “solar roof” on a number of vehicles.

Global Markets brief

31 October 2018 07:24 PM Renault-Nissan-Mitsubishi fund invests in China self-driving startup WeRide.ai

Alliance Ventures, the corporate venture capital fund of Renault-Nissan-Mitsubishi partnership, on Wednesday announced a Series A funding round in WeRide.ai, an autonomous driving company.

Global Reports

31 October 2018 06:43 PM GBP gains on Raab’s Brexit deal forecast

The British pound rose on Wednesday following statements by UK Brexit Secretary Dominic Raab.

Global Reports

31 October 2018 06:40 PM OPEC crude output rises to 2-yr peak – report

The Organization of Petroleum Exporting Countries has ramped up its oil production in October to the highest level in almost two years

Oil and Energy

31 October 2018 06:04 PM General Motors swings to profit in Q3

General Motors on Wednesday said that it turned a profit in the third quarter of 2018, while its net revenue rose 6.4%.

Global Reports

31 October 2018 05:36 PM US crude stockpiles build up; oil prices drop

US crude oil inventories rose by 3.2 million barrels to 426 million barrels in the week ended 26 October

Goods and Metals

31 October 2018 04:54 PM US employment costs rise on higher private-sector pay

US employment costs rose in the third quarter of 2018 as increases in private wages and salaries picked up steam.

Global Reports

31 October 2018 04:23 PM Standard Chartered profit jumps 35% in Q3

London-headquartered Standard Chartered on Wednesday posted a 35% year-on-year rise in its net income during the third quarter of 2018.

Goods and Metals

31 October 2018 03:39 PM German retail trade recovers slightly in September

German retail sales picked up slightly in September, after two months of declines

Goods and Metals

31 October 2018 03:30 PM US private sector adds 227,000 jobs in October

Mubasher: The US private sector added more 227,000 jobs in October, according to a payroll report on Wednesday.

Global Economy

31 October 2018 02:42 PM Siemens to set up $681m tech hub in Berlin

Siemens AG on Wednesday announced plans to invest up to EUR 600 million ($681 million) to create an industrial and technology hub in Berlin.

Global Markets brief

31 October 2018 02:05 PM Ford, Baidu partner to test driverless cars on China roads

Ford and Chinese internet giant Baidu launched a two-year project on Wednesday to test autonomous vehicles on Chinese roads.

Global Reports

31 October 2018 01:23 PM Eurozone joblessness stabilises at 8.1% in September, 6.7% in EU28

Eurozone unemployment stood at 8.1% in September, unchanged from August, remaining at the lowest level seen since November 2008, according to official data released.

Global Reports

31 October 2018 01:10 PM Eurozone annual inflation to edge up to 2.2% in October

Preliminary reading suggested that the Eurozone annual inflation would rise to 2.2% in October, from 2.1% in September.

Global Reports

31 October 2018 00:51 PM India unveils world’s tallest statue to honour independence hero

India on Wednesday inaugurated a $400-million effigy of independence hero Vallabhbhai Patel, which towers nearly as twice as the height of Statue of Liberty.

Global Reports