Cairo / Reuters Egypt’s central bank said it could secure some $10 billion from the International Monetary Fund (IMF) by agreeing a structural reform programme but has yet to make any formal request to do so. Talks over a possible loan half that size have faltered in the past and analysts say an IMF deal might require reforms that ...

  Tribune News Service The MISK Charitable Foundation and King Abdullah Economic City (KAEC) concluded a cooperation deal with Babson College and Lockheed Martin to start the Prince Mohammad bin Salman College of Business and Entrepreneurship. The deal, reached under the supervision of Deputy Crown Prince Mohammad bin Salman, was signed in Washington, D.C. by Badr Al-Asaker, secretary-general of the ...

  Jakarta / Agencies Indonesia’s parliament on Tuesday passed a tax amnesty bill in a bid to give Southeast Asia’s top economy a multi-billion-dollar boost, defying criticism the move will let evaders off the hook. The government believes the amnesty can bring in 165 trillion rupiah ($12.4 billion) of additional revenue this year by offering low rates to those who ...

  New Delhi / Bloomberg Belarusian Potash Co. agreed to supply potash to India at the cheapest price in almost a decade, but a level that analysts said exceeds previous estimates and indicates renewed demand for the crop nutrient. Indian Potash Ltd. will buy 700,000 metric tons at $227 a ton in the new agricultural season starting July 1, according ...

  Seoul / AFP South Korea on Tuesday announced an economic stimulus package of 20 trillion won ($17 billion) as it cut its 2016 growth forecast due to slowing global demand and the fallout from Britain’s shock decision to leave the EU. The finance ministry revised its growth target for the year to 2.8 percent from 3.1 percent, and said ...

  Mumbai / Tribune News Service Starbucks Corp. will introduce Tata group’s single-origin coffee in the United States and its Himalayan mineral water in Singapore, launch its specialty tea brand Teavana in India, develop a signature Indian tea blend with Tata group, and introduce Starbucks Coffee on Vistara flights, as the world’s largest coffee retailer and its Indian ally strengthen ...

  Tokyo / AFP Takata shares jumped on Tuesday after the airbag supplier’s boss said he would resign once the company recovers from a scandal linked to at least 13 deaths and scores of injuries globally. The Tokyo-listed stock soared as much as 10 percent in early afternoon trade after chief executive Shigehisa Takada told the annual shareholder meeting that ...

  If you are reading this column, the world still exists. This should come as a relief to anyone who has been reading the commentary about the U.K.’s allegedly terrifying and catastrophic vote to leave the European Union. The vote could lead, some forecasters say, to a global recession (one that, knowing today’s press, will inevitably be called a “Brecession”). ...

  Three Amigos summit that will bring three American leaders together — US President Barack Obama, Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau — in Ottawa, is set to avail a strategic pledge to have their countries produce 50% of their power by 2025 from hydropower, wind and solar and nuclear plants, carbon capture and storage, ...

  Robert Farley SPECIAL TO EMIRATES BUSINESS Cold War politics made for strange bedfellows. Albania and the People’s Republic of China became fast friends, because of a shared aversion to the Soviet Union. The United States developed a cordial relationship with Romania, despite the brutality of the CeauÈ™escu government. Both China and the United States became far too defensive of ...