by Zulfugar Agayev
It took a decade of gains for the Azeri currency to build up trust, and two devaluations to ruin it.
by Yaacov Benmeleh
Teva Pharmaceutical Industries Ltd. plans to cut as many as 6,000 jobs, or about 11 percent of its global workforce, the daily Israeli newspaper Calcalist reported.
by Ercan Ersoy
Turkey put on hold a plan to sell almost 600 companies worth about $10 billion that were seized in the aftermath of a failed military coup, according to two people with knowledge of the matter.
by Ahmed Feteha
Since Egypt devalued its currency, life in Cairo has gotten a lot easier if you sell stocks for a living — and a lot harder if you sell fruit.
FRANKFURT: Banks in London that relocate operations to the euro zone after Brexit are likely to be spared a lengthy entry test by regulators, making it easier for them to shift, according to two officials with knowledge of the matter.
By Mohammed Sergie and Dinesh Nair
Qatar Investment Authority will transfer oversight of its approximately $100 billion domestic portfolio to the country’s finance ministry as the sovereign fund undergoes its second overhaul in three years, people with knowledge of the matter said.
JEDDAH: Moody’s Investors Service (Moody’s) has changed its outlook on the global integrated oil and gas sector to positive from stable as higher profits from upstream operations fuel a faster recovery in earnings growth.
Brussels has warned that unless airlines like EasyJet and Ryanair move their headquarters from the UK or sell shares to European nationals, they will lose profitable European routes, reports the Guardian.
Some 357,000 new jobs were created between Jan. 1 and March 20 in Turkey, said a top official, adding that the rising unemployment rate would decrease by May or June.
By Karen Freifeld | NEW YORK
Chinese telecom equipment maker ZTE Corp (000063.SZ) (0763.HK) on Wednesday pleaded guilty in U.S. federal court in Texas for conspiring to violate U.S. sanctions by illegally shipping U.S. goods and technology to Iran.
By Jake Spring | BEIJING
Chinese automaker Chery Automobile Co Ltd [CHERY.UL] has filed a complaint with the country’s trademark regulator over Mercedes-Benz’s use of the “EQ” name for a line of green-energy vehicles, throwing up a potential road block for the Daimler AG (DAIGn.DE) unit in the world’s largest electric car market.
U.S. wireless carriers Verizon Communications Inc and AT&T Inc said on Wednesday they have suspended digital advertising on Google’s YouTube and other advertising platforms not related to search over concerns that their ads may have run next to extremist videos.
Suppliers to Sears Holdings Corp told Reuters they are doubling down on defensive measures, such as reducing shipments and asking for better payment terms, to protect against the risk of nonpayment as the company warned about its finances.
By Jennifer Ablan | NEW YORK
If the U.S. healthcare legislation overhaul is not passed, or is postponed, it will put “a lot of doubt” on the “Trump trades,” which include higher U.S. equities and bond yields, DoubleLine Capital Chief Executive Jeffrey Gundlach said on Wednesday.
If the swoon this week in financials was one sign of the Trump trade running out of fuel, recent weakness in transportation and infrastructure shares is another.
The U.S. utilities that are clients of Toshiba Corp’s nuclear power plant construction subsidiary, Westinghouse Electric Co LLC, have hired advisers to prepare for its potential bankruptcy, according to people familiar with the matter.
By Henning Gloystein | SINGAPORE
Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC-led efforts to curb global production.
The Trump Trade could start looking more like a Trump Tantrum if the new U.S. administration’s healthcare bill stalls in Congress, prompting worries on Wall Street about tax cuts and other measures aimed at promoting economic growth.
By Nichola Saminather | SINGAPORE
Asian stocks, taking some cues from a steady Wall Street, edged up on Thursday while the path for the dollar, which crawled up from a four-month low, remained clouded by concerns about the prospects for U.S. President Donald Trump’s pro-growth agenda.
A Saudi logistics company has just opened a Houston office to seize the opportunity to ship increased volumes of oilfield and plant construction equipment to the Port of Houston as the Texas and U.S. drilling activity is gaining momentum.