NEW YORK: New York state’s banking regulator hit Standard Chartered Bank with a $300 million fine and restrictions on its dollar-clearing business for failing to detect possible money-laundering.
KUALA LUMPUR: Malaysia-based AirAsia has announced a sixfold increase in second-quarter net profit as Asia's budget travel leader increased revenue despite what it called a "challenging" aviation envi
LOS ANGELES: Former Microsoft CEO Steve Ballmer is stepping down from the company's board, closing a chapter on 34 years with the software giant.
Saudi Arabia’s stock exchange, which has gained nearly 25 percent so far this year, is likely to rise further in 2014, benefiting from the upcoming budget expectations in addition to annual dividend a
CAIRO: Egypt has selected a Saudi consultancy to draw up the plan for the government's mega project to transform the Suez Canal waterway into a hub of international investment and free trade zones.
DUBAI: Dubai is changing its financial rules in an effort to attract more asset managers — particularly those serving the richest and most risk-tolerant investors, such as hedge funds and private equi
LONDON: OPEC is not worried about a slide in oil prices toward $100 a barrel, delegates from the producer group said, with current levels seen as acceptable for producers while higher seasonal demand
DUBAI: Major Saudi Arabian food producer Savola Group said on Tuesday it had conducted preliminary talks with one of the largest shareholders in Kuwait Food Co.
LONDON: Cairn Energy reduced group losses in the first half on lower costs, the British oil and gas explorer revealed on Tuesday as it seeks to settle a tax dispute in India.
The SABB/HSBC Emerging Markets Index (EMI), a monthly weighted composite indicator derived from national PMI survey reports in 17 emerging economies, fell to 51.7 in July, from 52.3 in June, indicatin
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