UAE imposes excise tax from Oct 1
The United Arab Emirates (UAE) has imposed Excise Tax with effect on October 1st, 2017. In an exclusive interview...
KSE-100 index takes a dive over 1,000 points
Pakistan Stock Exchange, the KSE-100 index dropped by over 1,000 points during early day trading on Tuesday. Following the...
S&P 500 index gains after recent selloff; energy stocks fall
The benchmark US S&P 500 stock index ended up slightly on Monday after two days of declines, though a...
UAE imposes excise tax from Oct 1
The United Arab Emirates (UAE) has imposed Excise Tax with effect on October 1st, 2017. In an exclusive interview with UAE official news agency WAM, Undersecretary of the Ministry of Finance Younis Haji Al Khouri said, “The tax shall impact all excise goods consumed inside the country, including all... Read more
KSE-100 index takes a dive over 1,000 points
Pakistan Stock Exchange, the KSE-100 index dropped by over 1,000 points during early day trading on Tuesday. Following the 1000 points drop in KSE-100 index the index has reached at 41,000 points. On Monday, the benchmark index stooped to a fresh low of the year, sliding another 925 points to... Read more
S&P 500 index gains after recent selloff; energy stocks fall
The benchmark US S&P 500 stock index ended up slightly on Monday after two days of declines, though a drop in oil prices weighed on energy shares and tensions between the United States and North Korea kept investors on edge. Market participants began to turn their focus to the... Read more
US board to vote on likely cause of Tesla ‘Autopilot’ crash
The US National Transportation Safety Board will vote at a September 12 hearing on the probable cause of a May 2016 crash that killed a man using the semi-autonomous driving system on his Tesla Model S sedan, the agency said on Monday. The fatal incident raised questions about the... Read more
Bankruptcy fight over Oncor to test Warren Buffett’s discipline
Warren Buffett takes pride in naming his price to buy a company, and not paying a nickel more. But the largest US natural gas distribution utility, an unyielding hedge fund, and a Delaware bankruptcy judge now present one of the biggest challenges to the billionaire’s legendary discipline. The board... Read more
Wall Street ends down after more White House turmoil
US stocks lost ground late to end lower on Friday following a White House-focused week that raised more questions about the Trump administration’s ability to implement its pro-growth agenda. While the day’s losses were small, Friday marked the first time stocks haven’t risen the day after a more than... Read more
US stocks tumble on Trump woes, Spain attack
US stocks fell sharply on Thursday as a deadly attack in Spain added to existing unease over President Donald Trump’s agenda amid the latest controversy and the split with business leaders. Wall Street stocks were in the red all session, initially due to anxiety over rumors White House economic... Read more
Hyundai plans long-range premium electric car in strategic shift
Hyundai Motor Co said on Thursday it was placing electric vehicles at the center of its product strategy – one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla and other rivals. Like Toyota Motor Corp, Hyundai had initially championed fuel... Read more
Petroleum ministry invites Exploration & Production companies to tap Shale gas, oil potential
Ministry of Petroleum and Natural Resources has invited local and international Exploration and Production (E&P) companies to tap massive Shale gas and oil reserves identified in a study carried out in collaboration with USAID. Accordingly, the ministry has established a Shale gas and oil centre to facilitate interested companies... Read more
Buffett divests stake in General Electric
Warren Buffett’s Berkshire Hathaway has sold off its stake in General Electric, according to US regulatory papers filed Monday. Berkshire had previously held 10.4 million shares in the US industrial giant, according to earlier securities filings. But GE was no longer listed among the 20 or so Berkshire stakes,... Read more
Saudi budget deficit halves after reforms, oil rebound
Saudi Arabia’s budget deficit halved in the first six months of this year, the finance ministry said Sunday, following sweeping spending cuts and a stabilisation in oil prices. The ultra-conservative kingdom has moved to diversify its traditionally oil-dependent economy following a sharp fall in crude prices. The budget deficit... Read more
Nvidia’s quarterly revenue rises 56 percent
Nvidia Corp reported a 56 percent jump in quarterly revenue on Thursday, helped by strong demand for its chips used in data centers and gaming devices such as Nintendo Co Ltd’s Switch. The company’s net income more-than-doubled to $583 million, or 92 cents per share, in the second quarter... Read more
Intel set to roll out 100 self-driving cars
Silicon Valley giant Intel on Wednesday announced plans for a fleet of self-driving cars following its completion of the purchase of Israeli autonomous technology firm Mobileye. A day after closing the $15 billion deal to buy Mobileye, which specializes in driver-assistance systems, Intel said it will begin rolling out... Read more
Oil producers committed to output cut deal: OPEC
Global oil producers said Tuesday they remained committed to cutting output and stemming the collapse in oil prices, the Organization of the Petroleum Exporting Countries (OPEC) said. A technical panel including members of the Saudi-led cartel and other oil producers made the statement after a two-day session in Abu... Read more