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  Vienna / AFP Saudi Arabia expressed confidence on Thursday that oil prices will keep recovering, cementing expectations that a divided OPEC will decide to keep crude gushing at its meeting in Vienna. “Everybody is very satisfied with the market. The market is rebalancing as we speak,” said Khaled Al Falih, newly appointed by the kingdom’s powerful and dynamic new ...

  Sunaina Rana / Emirates Business Ties between Peru and the UAE have seen a burgeoning growth over the past few years in terms of trade, investments and political relations. According to Alvaro Silva-Santisteban, Director of the Trade, Tourism & Investment Office Peru, UAE, the total exports from Peru to the UAE have increased by 700% from 2011 to 2014, ...

  Bloomberg U.K. Prime Minister David Cameron and opposition Labour Party leader Jeremy Corbyn returned to the front line to make the case for staying in the European Union as the anti-Brexit campaign attempted to maintain momentum three weeks out from Britain’s referendum. The pound dropped earlier this week as successive polls showed a swing in favor of “Leave,” suggesting ...

  Seoul / AFP Tens of thousands of North Koreans, brandishing red flags and chanting slogans, paraded in Pyongyang to celebrate the start of the Stalinist regime’s latest five-year economic plan, state media reported on Thursday. The “mass mobilization” took place on Wednesday in the sprawling Kim Il Sung square in the North Korean capital. It marked the beginning of a ...

  New Delhi / Tribune News Service Indian companies’ earnings growth is recovering and they are all set to post a double-digit profit growth for the fiscal years to come, after seeing flattish to weak growth for a few years now, according to analysts. To be sure, this growth comes on a low base. Kotak Insititutional Equities, an arm of ...

  Dubai / WAM Emirates NBD announced that it will invest AED 500 million over the next three years towards digital innovation and multichannel transformation of its processes, products and services. The bank also revealed plans to launch the UAE’s first digital bank targeted at millennials. A first-of-its-kind ‘by the customer, for the customer’ initiative using digitisation and social input as ...

  DUBAI / WAM The Ministry of Economy discussed ways to minimise the export of paper, leather and aluminium waste to other countries in order to provide raw materials for the national industry. This came during a meeting chaired by Abdullah Sultan Alfan Alshamsi, Assistant Under-Secretary for Industrial Affairs at the Ministry of Economy. The practice has caused a shortage ...

  DUBAI / EMIRATES BUSINESS The Middle East and North Africa’s leading shopping mall, retail and leisure pioneer, Majid Al Futtaim, on Wednesday unveiled a strategic development plan that will see the company increase its total investment in the UAE by AED 30 billion by 2026, taking its total investment in the country to AED 48 billion. The investments, which ...

  Tokyo / AFP Japan’s prime minister said on Wednesday that he will delay a consumption tax hike that threatened the fragile economy, but analysts said the move highlighted his failure to spark growth. Shinzo Abe announced his decision to members of the ruling Liberal Democratic Party (LDP) in televised remarks ahead of a press briefing expected around 6:00 pm ...

  Paris / AFP Transport chaos hit France again on Wednesday, just nine days ahead of Euro 2016, as railway workers went on strike in the latest salvo of a months-long battle between the government and unions. Between a third and half of France’s trains were expected to grind to a halt, as workers from railway operator SNCF launched their ...