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April 2019

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2,787.44 -0.54%
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139,110,065
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4.8
Turkey expected to lift interest rate; hike scale forecasts varied - Dotemirates
12/09/2018

Turkey expected to lift interest rate; hike scale forecasts varied

Mubasher: The Turkish Central Bank (CBRT) is set to raise interest rates at its policy committee meeting on Thursday in a bid to mitigate the currency crisis. However, forecasts over the amount of interest rate hike vary widely as the central bank attempts to strike a balance between concerns over the Turkish lira weakness and economic slowdown jitters. The lira already plunged 40% against the US dollar so far this year after the unease over President Recep Tayyip Erdogan’s influence on the monetary policy and recently the tension with the US sent a shudder of fear among investors. The CBRT...


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Business News

Volatility index rises, markets remain bullish

Mumbai: Sharp upward movement of NSE's India Volatility Index (VIX), a gauge for market's short term expectation of volatility in the equity market has been quite unnerving for the market participants over the last fortnight since beginning of the general elections. India VIX has been moving higher and touched a new 52 week high of 23.04 last week on April 18, the last trading session, indicating rising risk in the market. One month ago India VIX closed at 16.90 and one week ago it was at 21.13 which indicates how it has moved up as countdown to the general elections...
21/04/2019

Seventy-six pubs 'shutting per month', but closure rate slowing

Nearly 1,000 UK pubs shut last year, although the rate of closures is slowing, new research claims. About 76 pubs a month "vanished" from the communities they served in 2018, as people spent less on going out and pubs faced cost pressures, said property firm Altus Group. But this was down from 138 a month during the previous seven years. Alex Probyn, of Altus Group, said recent cuts to business rates had helped."The increase in the thresholds at which businesses, such as pubs, pay business rates coupled with the pubs discount during the last two financial years has helped ease...
21/04/2019

Aramco to buy Shell’s 50% stake in Saudi refining joint venture for $631m

DUBAI: Saudi Aramco will acquire Royal Dutch Shell’s 50 percent stake in their Saudi refining joint venture SASREF for $631 million, the two companies said on Sunday. The purchase, which is part of Aramco’s strategy to expand its downstream operations, will be completed later this year, they said in a joint statement. Saudi Aramco Shell Refinery Co. (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd). “Saudi Aramco will take full ownership and integrate the refinery into its growing downstream portfolio. SASREF will continue to be a critical...

21/04/2019

Business Owners: Don’t Stress Over 3-Paycheck Months—Do This Instead

Three-paycheck months are great for your employees. Who wouldn’t want an extra paycheck a couple of months per year? But, a three-paycheck month might not be so gentle on your small business budget. Paying employees with a biweekly pay frequency has quite a few benefits, like consistent payroll processing. And, biweekly pay is the most popular pay frequency. However, you need to prepare for three-paycheck months. Otherwise, you could dip into negative cash flow territory. Sure, Susie’s extra $1,500 is no big deal. But multiply that by 60 employees, and your monthly budget could end up fluctuating by an additional...
21/04/2019

Thomas Cook reportedly receives bids for firm

Travel company Thomas Cook has received approaches for parts of its business and the company as a whole, according to reports.The business put its airline up for sale in February and it said last month it would close 21 stores across the country and cut more than 300 jobs.Chinese investment firm Fosun International could be a bidder for the company's tour operating business, Sky News reported. Thomas Cook declined to comment.Fosun International, which runs a joint venture with Thomas Cook in China, did not immediately respond to a request for comment. Insiders told Sky it could be months before any...
21/04/2019

Aramco to buy Shell’s 50% stake in Saudi refining JV for $631m

Riyadh — Saudi Aramco said on Sunday it would acquire Royal Dutch Shell’s 50 percent stake in Saudi refining joint venture SASREF for $631 million.The sale is expected to complete later this year, the two companies said in a joint statement.Saudi Aramco Shell Refinery Co (SASREF), based in Jubail Industrial City in Saudi Arabia, has a crude oil refining capacity of 305,000 barrels per day (bpd). The main products are liquefied petroleum gas, naphtha, kerosene, diesel, fuel oil and sulphur.“The partnership with Shell has led to a strong record of performance and delivery of refined products,” Abdulaziz Al-Judaimi, Saudi Aramco‘s...