Commerce Secretary Howard Lutnick said Thursday that the U.S. will equally share profits with Japan from projects funded by the Asian country through its tariff deal until the initial investment is recouped. Tokyo agreed to earmark $550 billion for investment in American-based projects selected by the U.S. government as part of a deal finalized last week. President Donald Trump said Japan will now […]
Denmark plans to buy European-made air defence systems for 58 billion Danish crowns ($9.11 billion), its largest arms purchase ever, the country’s defence minister said on Friday, citing a challenging security situation. Danish Prime Minister Mette Frederiksen in February ordered the military to “buy buy buy” equipment in preparation for potential future Russian aggression in […]
The dollar stabilised in Asia on Thursday after an unexpected drop in US factory-gate prices bolstered expectations the Federal Reserve will cut rates next week, with traders now awaiting US consumer price data later in the day. The dollar index nudged up 0.1% to 97.83, rising for a third consecutive day after the Producer Price […]
Saudi Aramco, the world’s biggest crude oil exporter and the Saudi state-owned oil giant, is back tapping the debt markets this year with an offering of dollar-denominated Islamic bonds. Aramco is said to be offering Islamic bonds, the so-called sukuk, in five and ten-year issuances in what would be the Saudi oil firm’s second debt […]
Economist Mohamed El-Erian warned of “significant challenges” for Xi Jinping’s growth model after fresh data showed a sharp drop in US-China trade. The analysis follows a CNBC report that Chinese exports to the U.S. plunged 33% in August year-over-year, a development El-Erian said shows U.S. tariffs have begun to “bite.” The sharp decline in U.S.-bound shipments was the primary factor […]
U.S. retail giant Walmart said on Tuesday it will launch its first Walmart-branded stores in South Africa this year, expanding its presence in the country where it already owns local retail group Massmart. While Walmart has operated in South Africa for years through its fully owned subsidiary Massmart, which runs chains like Makro, Game, and […]
Teck Resources Limited and Anglo American plc on Tuesday announced they had agreed to combine via a merger of equals to create a copper and other critical minerals giant with a market capitalization of over $53 billion. Teck Resources and Anglo American will create the Anglo Teck group, which will be a global critical minerals champion and […]
It’s no secret that Apple devices tend to be in particularly high demand. Unfortunately, that demand can make finding big discounts on Apple gadgets a bit harder than usual. But make no mistake: Good Apple deals are typically out there. To make them a bit easier to find, we’re keeping a running list of the […]
The offering, the country’s first international sukuk based on an Ijarah structure, was issued in two tranches. The five-year sukuk maturing in 2030 raised $2.25 billion (SR8.44 billion), while the 10-year tranche maturing in 2035 secured $3.25 billion (SR12.19 billion), NDMC said in a statement. Investor demand was strong, with the order book reaching about […]
Over 180 new jobs are anticipated to be created in the U.K. and Saudi Arabia as a result of more than GBP360 million ($484 million) of new joint investment, Business Secretary Jonathan Reynolds has announced. The Business Secretary confirmed this fresh investment and welcomed Saudi Arabia as a vital partner in the government’s modern Industrial […]