Category Archives: Business

Putin calls sanctions a ‘covert form’ of protectionism

Ahead of the G20 summit, Russian President Vladimir Putin has restated his anger over sanctions levied against Moscow. In a guest article for a German newspaper, he warned that trade barriers are becoming the norm. Continue reading

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Bailed out Italian bank to cut thousands of jobs, close branches

Italy’s Monte dei Paschi di Siena bank is to lose more than 20 percent of its staff as part of its public bailout plan. On Tuesday, the EU approved a multi-billion euro rescue that effectively nationalizes the lender. Continue reading

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Volvo to go all electric, hybrid by 2019

The Swedish carmaker says it is ready to phase out the internal combustion engine and produce greener vehicles. The firm will manufacture only fully electric and hybrid models within two years. Continue reading

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Hague court greenlights Ukrainian case against Russia

The Permanent Court of Arbitration in the Hague has said it has jurisdiction to hear the case of a Ukrainian company seeking to recover damages for property lost when Russia annexed Crimea. Continue reading

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Defiant Qatar hikes gas output by 30 percent

Despite a deepening diplomatic crisis with its neighbors, Qatar says it will increase natural gas production by a third. The announcement is seen as an act of defiance against sanctions by Saudi Arabia and others. Continue reading

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Nasdaq glitch sees wild stock price fluctuations

An IT glitch has led to wild price moves on traders’ terminals for Nasdaq-listed stocks including Apple and Google. Some stocks plunged or rose by as much as 80 percent but were never sold at the erroneous prices. Continue reading

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London financial chiefs to meet EU over post-Brexit role

London’s banking chiefs will travel to Brussels this week to shore up the UK capital’s financial services sector post-Brexit. Several banks are planning to move staff to Frankfurt and Dublin to satisfy EU finance rules. Continue reading

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Recalled phone parts to be used in new Samsung phone

Samsung’s new Galaxy Note FE will go on sale in South Korea this week with recycled parts from the ill-fated Note 7. The electronics giant insists the new phone is safe despite its predecessor catching fire. Continue reading

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France’s Total to sign Iran gas deal delayed by sanctions

Iran is to sign a contract with French energy giant Total on Monday to develop its giant South Pars gas field. The 20-year deal is the largest since sanctions were lifted against Tehran last year. Continue reading

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France’s Total signs Iran gas deal delayed by sanctions

Iran has signed a contract with French energy giant Total to develop its giant South Pars gas field. The 20-year deal is the largest since sanctions were lifted against Tehran last year. Continue reading

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