Iran says detains 17 for foreign exchange fraud
Iran intervened in the currency market and threatened speculators as it engineered a dramatic recovery of the rial in recent weeks to ease pressure on its economy
India central bank prepared to spend $100bn more defending rupee: source
MUMBAI: India’s central bank is prepared to sell a sixth of its foreign exchange reserves to defend the rupee against a rapid...
Arif Naqvi in a message to friends & employees shares his experiences at Abraaj
The turmoil-filled months for Arif Naqvi, the founder of Abraaj Group has resulted in ignominy for a person who once heralded forums like the World Economic Forum and built the company into the largest private equity house in the Middle East and North Africa
Usage of Chinese yuan in Pakistan, other BRI countries on the rise
BEIJING: The Belt and Road Initiative (BRI) has fueled the yuan's internationalisation, particularly in the past two to three years as work...
Mukesh Ambani becomes world’s 4th richest man
NEW DELHI: India’s Reliance Industries Chairman Mukesh Ambani has become the world’s 4th richest man after he amassed $22 billion this year.Â
The...
Iraq plans $53bn project with ExxonMobil, PetroChina
BAGHDAD: Iraq is planning a $53 billion mega project with global energy giants ExxonMobil and PetroChina to use seawater from the Persian...
Uber chief tightens grip with top execs’ departures
Uber chief Dara Khosrowshahi has put out a word that he is tightening his grip on the wheel at the ride-share firm...
India’s Reliance takes over ExxonMobil as world’s second most valuable energy companyÂ
BENGALURU: India’s Reliance Industries has taken over from America’s largest energy company ExxonMobil as the world’s second most valuable energy company after...
Vitamin chain GNC files for bankruptcy, may close 1,200 stores and sell itself
GNC Holdings Inc, the vitamin and herbal supplement retailer, has filed for bankruptcy, with plans to close at least 800 to 1,200...
America’s Capital Group mulls investment in Pakistan
Official says Pakistan govt's seriousness towards economic revival has encouraged the company to explore business opportunities in Pakistan
ISLAMABAD:Â Prime Minister Imran Khan...
Amazon buys 11 aircraft to make deliveries faster
Amazon.com Inc said on Tuesday it bought 11 Boeing 767-300 aircraft, as it looks to boost its delivery capabilities to cater to...
Total plans $5bn in asset sales as second-quarter profit falls
PARIS: French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as...
Global Unicorn Club lists startups with market valuation of $1bn or more
CB Insights recently published the Global Unicorn Club which lists private companies from around the world which have a total cumulative market...
Gold prices fall, as dollar strengthens
The dollar strengthened against a basket of currencies and extended its gains against the yen to hit a fresh six-week high of 111.06 yen, supported by the relative strength of the U.S. economy and on prospects of further rate hikes from the Federal Reserve
Abraaj Group rattled as investors seek clarity on investments
According to sources close to the case, the Dubai-based ‘Abraaj Group’ is stalling the sale of its North African hospitals business as...