News

Mon, 29 Apr 2019 07:11:11 GMT

Spain's Bankia Q1 net profit falls

On Monday, the Spanish state-owned lender Bankia posted a 10.8% drop in its Q1 net profit from the last year's results amid current pressure on the lending income and lower trading income.

Mon, 29 Apr 2019 07:08:37 GMT

Philips misses Q1 core profit estimates

Philips, the Dutch health technology firm, reported on Monday a 6% jump in its Q1 core earnings, but did not meet analysts' forecasts due to bleak sales growth.

Mon, 29 Apr 2019 06:39:06 GMT

Italy's deputy PM sets bid deadline for Alitalia

The Italian Deputy PM Luigi di Maio has set next Tuesday as the deadline for any bid to participate in the struggling carrier Alitalia's rescue plan, with the US airline Delta Air Lines and Italy's Ferrovie dello Stato ready to contribute to the bid.

Mon, 29 Apr 2019 06:35:03 GMT

Pioneer Natural Resources seeks Eagle Ford JV sale

Pioneer Natural Resources has entered the advanced talks over a sale of the company's Eagle Ford acreage, located in South Texas, to Ensign Natural Resources, the privately-held energy producer, sources confirmed.

Mon, 29 Apr 2019 05:07:45 GMT

Arabian Centres to attract $836M in IPO

Arabian Centres, Saudi Araboia's mall operator, is set to raise up to $836M in its planned initial public offering, which could become the country's largest since its National Commercial Bank raised $6B in 2014.

Mon, 29 Apr 2019 04:50:33 GMT

Israel's Delek bids for Chevron's North Sea oilfields

On Sunday, Israeli Delek Group confirmed its offer made via the Ithaca unit to acquire Chevron's gas and oil fields in the UK North Sea for about $2.0B, according to a Reuters report.

Mon, 29 Apr 2019 04:39:15 GMT

Anadarko decides to sell itself to Occidental Petroleum

The US gas and oil production company Anadarko Petroleum has decided to launch negotiations with Occidental Petroleum over selling itself, after it had agreed on the same deal with Chevron Corp.

Mon, 29 Apr 2019 04:36:28 GMT

Gardner Denver to tie up with Ingersoll-Rand arm

Gardner Denver Holdings, the industrial machinery maker, is close to clinch a merger deal with the Ingersoll-Rand division, establishing a business with a market value of around $15B, including debt, the WSJ reported on Monday.

Mon, 29 Apr 2019 03:43:16 GMT

SABIC shows 38% lower profit in Q1

Saudi Basic Industries Corporation's net profit dropped 38.1% on a yearly basis to $910.64M in the first quarter, the statement by the Tadawul showed.

Mon, 29 Apr 2019 03:42:05 GMT

Iranian tea exports up 2.3% in value

Iran exported more than 16K tons of tea worth $19M to 37 countries in the last reporting year from March 2018 to 2019, a 2.3% annual increase in value.

Mon, 29 Apr 2019 02:41:13 GMT

Germany's government warns toward carbon taxes

Germany is likely to introduce the carbon emissions pricing system after major officials from Berlin's governing coalition's parties reached the consensus on the matter.

Sun, 28 Apr 2019 20:16:09 GMT

Amazon to cut delivery time to one day

Amazon is planning to reduce the delivery time for its Prime loyalty club to one day, instead of the current two-days period, challenging its retail competitors such as Walmart.

Sun, 28 Apr 2019 20:13:24 GMT

Trump urges Japan to produce more cars in US

The US President Donald Trump urged the Japanese PM Shinzo Abe to make its local carmakers to build more vehicles in America, following the recent announcements by Japanese companies, such as Toyota Motor, about their intentions to invest more in the US plants.

Sun, 28 Apr 2019 19:37:25 GMT

Swedbank proposes ex-Swedish PM as chairman

Swedbank proposed Goran Persson, the ex Prime Minister of Sweden, as the bank's new chairman on the back of allegations of money laundering in the Baltic business.

Sun, 28 Apr 2019 19:31:40 GMT

Fitch, S&P say British rating at risk

UK's credit rating is still at risk due to no-deal Brexit, despite the deadline that was extended until October 2019, Fitch Ratings and S&P Global Ratings announced.

Sun, 28 Apr 2019 18:35:20 GMT

Renault to adhere to 2019 goals

Renault announced it would stick to its 2019 goals, after a 4.8% fall in its Q1 revenue, tumbled by business with Nissan and the forecasts for its overseas sales decline.

Sun, 28 Apr 2019 18:33:02 GMT

Pilots call on Boeing for better training

American Airlines pilots called on Boeing to provide better training for the 737 MAX jets to erase any concerns regarding the troubled plane, following two fatal crashes during the past 12 months, Reuters reported.

Sun, 28 Apr 2019 16:58:43 GMT

Iran could quit nuclear treaty

On Sunday, the Iranian Foreign Minister Mohammad Javad Zarif said that Iran could leave the nuclear treaty after the US tightens sanctions.

Sun, 28 Apr 2019 16:58:35 GMT

State-financed Abu Dhabi Fund deposits $250M in Sudan

According to the state news agency, the United Arab Emirates fund for Development has deposited about $250 million in the Central Bank of Sudan.

Sun, 28 Apr 2019 16:05:47 GMT

Spain holds Parliamentary elections

On Sunday, thousands of Spanish electorates went to the polling stations to vote in the country's Parliamentary elections.

Sun, 28 Apr 2019 16:04:01 GMT

Moore not planning to withdraw from Fed consideration

On Sunday, Stephen Moore said that he is not planning to drop out from consideration for a seat on the US Federal Reserve Board of Governors.

Sun, 28 Apr 2019 15:34:47 GMT

China warns UK not to discriminate against 5G development

China urged the United Kingdom not to discriminate against firms involved in the 5G network's development and to resist other's pressure over whether it should cooperate with Huawei.

Sun, 28 Apr 2019 15:34:32 GMT

Chinese crude steel production up 9.9%

China's steel manufacturers reported steady production growth in the Q1, with crude steel production up 9.9% to 231M tonnes, an industry association revealed.

Sun, 28 Apr 2019 14:05:59 GMT

China's BYD reports 632% higher profit in Q1

Chinese EV maker BYD, backed by Warren Buffett, reported a 632% jump in its net profit in the Q1, buoyed by solid demand for new energy vehicles.

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