Thursday 27 November 2014
 
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Oil rises to $81 on China rate cut, possible Opec move

Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that Opec could agree next week to reduce oil production. China's central bank cut its benchmark interest rates for the firs

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Gold firms plan cuts to stay afloat as bullion sinks

Struggling gold producers plan increasingly drastic measures such as scrapping dividends, cutting jobs, halting projects and shutting mines to survive the latest price plunge, but not all of them will make it. Gold tumbled to a mo

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India promises to cut red tape for investors

Indian Prime Minister Narendra Modi has pledged to slash red tape and harness the benefits of a huge young population as he launched a campaign to attract global business to manufacture in the sub-continent. India's business-f

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Bahrain posts 85pc drop in power cuts

Bahrain has registered an 85 per cent drop in the average duration of power cuts this year, the lowest number of blackouts ever in Bahrain's history, said Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza.

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Gulf Air cuts losses by 30pc on higher revenue

Bahrain’s national airline Gulf Air has claimed that it has cut year-on-year losses by nearly a third and increased overall revenue by 10 per cent in the first half this year. However, the airline declined to provide figures

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Malaysia Airlines to cut 6,000 jobs, $1.9bn restructure

Malaysia Airlines , the country's loss-making flag carrier, will cut 30 per cent of its workforce as part of a sweeping restructuring that will cost six billion ringgit ($1.9 billion), majority investor Khazanah Nasional said.

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Bahrain plans to cut public debt

Bahrain has planned to slash public debt and boost state revenues to bolster development. The government's financial policies took centre stage as the Cabinet convened for its weekly meeting yesterday (August 24). Chairing the

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New coasting system to save fuel on Mideast roads

A breakthrough in green automotive engineering allowing motorists to cruise for a third of every journey without using fuel, will soon become as common in cars on Middle East roads, said an industry expert.   The

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Saudi cuts Bahrain pilgrims' Haj quota

Saudi Arabia’s Haj Ministry has reduced the quota of pilgrims for Bahrain this year to 3,700, due to ongoing expansion projects in the Holy Mosque.    Bahrain Haj mission head Shaikh Adnan Al Qattan st

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Sisi pledges to cut own pay, calls to make sacrifices

Egypt's new president Abdel Fattah Al-Sisi pledged on Tuesday to give up half his salary and property and called on the Egyptian people to make similar sacrifices in a bid to prepare the public for a period of painful economic austerity.

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