Author Archives

• Saudi Arabia to invest $20 billion to expand spare oil production capacity

  By admin1 on October 4, 2018 • ( 0 )

  

  The investment will be across several years and will see its capacity increase from its current 12 million bpd. On Thursday, Saudi Arabia’s energy minister Khalid al-Falih said, the Kingdom will invest $20 billion in the coming years to maintain… Read More ›

• $36 billion expansion plans for Dubai’s Al Maktoum International airport put on hold

  By admin1 on October 4, 2018 • ( 0 )

  

  The capacity expansion was supposed to pave the way for it to replace Dubai International, currently the world’s busiest for international travelers, and to become the new base of airline Emirates. A timeframe for completion has not been provided. According… Read More ›

• VW’s Skoda Auto likely to boost production by 400,000 cars

  By admin1 on October 4, 2018 • ( 0 )

  

  The CEO of Skoda Auto, a unit of VW, disclosed this news, which could potentially involve making a new auto plan, at the Paris car show. Bernhard Maier, the Chief Executive of Volkswagen’s Czechoslovakian brand Skoda Auto stated, the carmaker… Read More ›

• Britain’s Brexit bill slated to rise with increasing EU budget liabilities

  By admin1 on October 4, 2018 • ( 0 )

  

  Although Britain is set to leave the EU in March 29, 2019, it has agreed to pay its share of debts and liabilities assumed by the EU until the end of 2020. According to EU data released on Thursday, Britain’s… Read More ›

• HSBC Amanah raises $120.63 million in Islamic bonds linked to U.N’s sustainable development goals

  By admin1 on October 4, 2018 • ( 0 )

  

  The deal marks HSBC Amanah’s efforts to integrate the religious principles of Islamic finance with the U.N’s sustainable development goals. The Malaysian Islamic banking arm of HSBC Holdings, HSBC Amanah, stated it has raised $120.63 million (500 million ringgit) worth… Read More ›

• Regulators pull up Wells Fargo for not doing enough to repay cheated drivers

  By admin1 on October 3, 2018 • ( 0 )

  

  Although Wells Fargo does not have a deadline by which it aims to repay every driver it forced to buy auto insurance that was not required, unless it completes the reimbursements it will not get the all-clear from regulators. According… Read More ›

• Exxon Mobile Corp eyeing multi-billion upgrade of its Singapore refinery

  By admin1 on October 3, 2018 • ( 0 )

  

  The potential development comes ahead of the introduction of global shipping fuel rules, set to be introduced in 2020, which see sulphur component in marine fuel dip to 0.5% from 3.5%. According to a senior executive from Exxon Mobil Corp,… Read More ›

• Top creditors of Toys ‘R’ Us plan to revive the brand

  By admin1 on October 3, 2018 • ( 0 )

  

  With the auction bids not being superior to the plan of reviving the plan, creditors and stakeholders are of the view that reviving the Toys ‘R’ Us and Babies ‘R’ Us brand is the best way forward. In a significant… Read More ›

• J. C. Penney Co appoints Jill Soltau as CEO

  By admin1 on October 3, 2018 • ( 0 )

  

  Jill Soltau, who will join the company in mid-October, will have the task of turning it around. In August 2018, J. C. Penney reported a higher than expected second quarter loss and revised its full-year forecast. J. C. Penney Co… Read More ›

• Britain’s financial regulations are likely to become tougher post Brexit: KPMG

  By admin1 on October 3, 2018 • ( 0 )

  

  While some sections of the Eurosceptics are pushing to loosen lending rules, KPMG expects that Britain’s FCA and the Prudential Regulation Authority at the Bank of England will in fact tighten and enhance rules governing finance. In a report released… Read More ›