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China says trade war will hurt US workers and farmers - Dotemirates
4 month 3 week

China says trade war will hurt US workers and farmers

China's commerce ministry on Thursday accused the United States of being "capricious" over bilateral trade issues, and warned that the interests of US workers and farmers ultimately will be hurt by Washington's penchant for brandishing "big sticks". Previous trade negotiations with the United States had been constructive, but because the US government is being unpredictable and challenging, Beijing has had to respond in a strong manner, commerce ministry spokesman Gao Feng said in a regular briefing in Beijing. President Donald Trump threatened on Monday to hit $200 billion of Chinese imports with 10 per cent tariffs if Beijing retaliates against...


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Business News

Tata Sons begins due diligence to buy Jet Airways: report

Mumbai: Indian conglomerate Tata Sons is conducting due diligence on Jet Airways as it explores the purchase of a controlling stake in the cash-strapped airline, Mint newspaper reported on Tuesday citing two people directly aware of developments. Saurabh Agarwal, chief financial officer of Tata Sons, is leading the discussions while Jet Airways is represented by its chairman Naresh Goyal, the newspaper said, citing the sources who it said asked not to be identified as the talks are private. “An in-house team of Tata Sons is currently conducting due diligence on Jet Airways, which is expected to continue for the next...
4 minute 59 second

Adnoc inks two major deals with Aramco, Indian firm

Abu Dhabi National Oil Company (Adnoc) on Monday signed a deal with Aramco to explore investments improve in gas and LNG to expand its revenues and also inked a deal with an Indian firm to store oil in the state of Karnataka. Dr Sultan Ahmed Al Jaber, UAE's Minister of State and Adnoc Group CEO, and Amin Nasser, President and CEO of Saudi Aramco, signed the agreement on the sidelines of 21st Abu Dhabi International Petroleum Exhibition and Conference (Adipec) on Monday. Under the deal, Adnoc and Aramco will jointly conduct techno-economic feasibility studies and exchange knowledge and experiences in...
5 minute 15 second

Dubai’s Danube awards Dhs150m construction contract for Jewelz

Dubai developer Danube Properties has awarded a contract worth Dhs149.5m ($40.7m) for the main construction works of its Jewelz project at Arjan. The contract has been awarded to Dubai-based Cast Construction, a statement said. The Dhs300m Jewelz project offers 463 residential units, including studio, one and two-bedroom apartments. It is Danube’s 10th residential project to be built at Arjan, near Miracle Gardens. Amenities include a fully equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, paddle tennis court and a high tech surveillance system for security. Jewelz will also feature open areas...

12 minute 32 second

Auction of detained Saudi tycoon Maan al-Sanea’s properties to start in Dec

Saudi Arabia will start auctioning real estate assets of billionaire Maan al-Sanea and his company on Dec. 2 to help repay billions of dollars due to creditors, sources familiar with the matter told Reuters. The auction, originally planned for late October in the city of Khobar in Eastern Province, was delayed by a last-ditch attempt to reach a settlement, which failed to gain enough support from creditors, one source said. Read more: Saudi to auction detained billionaire Maan al-Sanea’s real estate assets Sanea, once ranked among the world’s 100 richest people by Forbes, was detained last year for unpaid debts...
13 minute 31 second

Tasmanians paying 30c per litre over wholesale fuel price, motoring body says

By Damian McIntyre Tasmania's main motoring body has accused fuel retailers of ripping off motorists and has urged them to slash their prices.The Royal Automobile Club of Tasmania (RACT) said motorists were paying too much for petrol and diesel, with service stations ignoring a recent drop in wholesale prices.The organisation said in some cases, motorists were paying up to 30 cents per litre above the wholesale price.The RACT's Darren Moody said the wholesale price had dropped from 152.6 cents per litre in October to about 133 cents per litre now."In the meantime, the average retail price for fuel in Tasmania...
15 minute 17 second

Sensex up 46 points in choppy trade on better macro-data

Mumbai: The benchmark indices turned choppy in morning trade on Tuesday and oscillated between gains and losses, driven by better-than-expected macro economic data and fresh foreign fund inflows amid global sell-off. The 30-share index fell over 140 points in opening trade but soon recovered the lost ground to quote higher by 46.12 points or 0.13 per cent at 34,859.11. Similar movement was seen on the wide-based Nifty, which fell by 42 points, but soon gathered momentum and was trading higher by 21.45 points or 0.20 per cent at 10,503.65. Traders said the benchmarks opened lower tracking global sell-off, but better-than-expected...