News

  Manama / TNS New rules that make it mandatory for all commercial registration holders (CRs) to be members of the Bahrain Chamber of Commerce (BCCI), will help reduce the incidence of ‘ghost’ companies, a top official has said. BCCI second vice-chairman Abdulhameed Al Kooheji told the GDN on the sidelines of the inauguration of a new and improved Client Care ...

  Bloomberg China National Petroleum Corp. said its Changqing oil field, the country’s biggest crude and gas producer, rebounded from losses earlier this year to post a first-half profit amid reduced spending. Oil and gas equivalent output from the field reached 26.5 million tons in the first six months of the year, on its way to meeting the 50-million-ton annual ...

  AFP Scientists from India, the United States and Japan have struck upon a large natural gas deposit in the Bay of Bengal, the first potentially producible discovery of its kind in the Indian Ocean. A research expedition carried out jointly by the three countries discovered the natural gas hydrate — an ice-like form of the fuel — off India’s ...

  Bloomberg Maruti Suzuki India Ltd.’s profit climbed 23 percent as demand for its Vitara Brezza sport utility vehicle led a more than doubling of sales in India’s fastest-growing segment. Net income in the quarter through June rose to 14.9 billion rupees ($221 million) from 12.1 billion rupees a year earlier, the New Delhi-based unit of Suzuki Motor Corp. said ...

  Bloomberg Governments around the globe must protect the independence of central banks to ensure sustainable economic growth, Reserve Bank of India Governor Raghuram Rajan said on Tuesday. The former International Monetary Fund chief economist said that central banks are under fire from criticism that is unsupported by evidence. He cited attacks against the Bank of England over Brexit, the ...

  AFP The Chinese army garrisoned in Hong Kong has warned people searching for Pikachu and other virtual monsters to stay off their premises, as Pokemon Go mania sweeps the smartphone-obsessed city. The gaming app landed on Monday in Hong Kong and saw residents more glued to their phones than ever, searching for the cyber creatures in locations ranging from ...

  Bloomberg Steel supply from China, the world’s biggest producer, remains a “big worry” for the global industry, which continues to be under pressure despite an improvement in prices, JSW Steel Ltd. Chairman Sajjan Jindal said. There is “‘huge overcapacity” in China and the industry is worried about how the Asian nation will address the issue, Jindal, who runs India’s ...

  Bloomberg Emerging-market stocks are looking like a smart buy as investors begin to view the developed world, from frequent terror attacks to a troubled European Union, as the sometimes riskier proposition. This year, emerging-nation equities have outperformed their developed peers as concern over a hard landing in China subsided and a rebound in commodity prices propped up export-dependent economies. ...

  Paris / AFP France will pump 3 billion euros into state-controlled electricity company EDF, shareholders decided Tuesday, two days before it is expected to give the final green light to the controversial construction of two nuclear reactors in Britain. At an extraordinary meeting, shareholders approved a 4-billion increase in share capital, of which the French state, which owns 85 ...

  London / AFP British bank RBS has warned businesses they might be charged for depositing money if interest rates are lowered, a week before the Bank of England (BoE) meets to decide whether to ease its policy. “Global interest rates remain at very low levels and in some markets are currently negative. Dependent on future market conditions, this could ...