Abdullatif A. Al-Othman
LONDON: British engineer Rolls-Royce warned that deteriorating economic conditions meant its profit would not rise next year as previously forecast, sending its shares plunging as much as 16 percent.<
SYDNEY: Virgin has taken full control of budget carrier Tigerair Australia, buying the remaining 40 percent it did not already own for Aus$1 (88 US cents) from its Singapore-listed parent.
NEW YORK: Banana giant Chiquita has rejected a sweetened takeover bid from a pair of Brazilian companies, and confirmed its support for a merger with Irish fruit producer Fyffes.
NEW YORK: General Electric’s third quarter profit rose 11 percent on strong performance from its aviation and oil and gas divisions.
LONDON: World stocks hit a nine-month low on Friday but oil and southern European bonds were off their week’s worst levels, as investors began to dust themselves off after one of the most volatile spe
SINGAPORE: Oil prices extended a minor rally on bargain-buying Friday, a day after the US benchmark fell below $80 for the first time in more than two years.
NEW YORK: Oil prices spiked abruptly at midday on Thursday, extending an early bounce from new four-year lows as a combination of technical buying and options expiry for US crude triggered a sudden fr
Saudi share prices tumbled on Thursday to finish off a difficult week marked by volatile oil prices and world stock markets falling on fears of a weaker economy and global insecurity.
FRANKFURT: German airline Lufthansa announced that it will pull the plug on its once-daily flights between Frankfurt and Abu Dhabi due to competition from Etihad.
SINGAPORE: Saudi Aramco traded its first fuel oil derivative on Platts on Thursday and is expected to become more active in its paper trading activities, sources said.
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