Business & Finance News
Hyundai Motor Co’s third-quarter net profit plunged by a shocking two-thirds, hit by a $440 million one-off charge related to U.S. recalls and sending its shares tumbling to near nine-year-lows on Thursday.
Comcast Corp’s quarterly profit and revenue topped Wall Street estimates on Thursday as it attracted more customers to its high-speed internet connections, offsetting a drop in cable TV subscribers that was also less severe than expected.
Saudi Arabia said it signed $56 billion of deals at an investment conference this week and expected the United States to remain a key business partner despite a partial boycott of the event over the killing of Saudi journalist Jamal Khashoggi.
Saudi Energy Minister Khalid Al-Falih said on Thursday he expected the details of the Saudi Basic Industries Corp (SABIC) deal to be finalised within the first half of 2019, Saudi state TV al-Ekhbariya quoted him as saying.
Saudi Arabia is still moving ahead with three major development projects, NEOM, the Red Sea tourism project, and an entertainment development that will include a Six Flags theme park.
Saudi Arabia’s government has signed deals worth $4.4 billion to develop its housing and construction sectors, the state investment promotion agency said on Thursday.
Energy Minister Khalid Al-Falih said on Thursday that companies that pulled out of the Future Investment Initiative conference in Riyadh had apologized for missing the event.
ScS Group said on Thursday it would stop selling its sofas and carpets at House of Fraser stores from January, saying the partnership had ceased to be beneficial since billionaire Mike Ashley bought the collapsed department store group.
China finds it “hard to understand” why the United States is not sending senior government officials to a major import expo in Shanghai next month, the foreign ministry said on Thursday.
Saudi Arabia expects to attract investments of more than 1.6 trillion riyals ($427 billion) by 2030 in its push to boost industry, Energy Minister Khalid Al-Falih said on Thursday, according to state TV al-Ekhbariya.
The United States will remain “a key part” of the Saudi economy despite a boycott of the Future Investment Initiative conference, Saudi Energy Minister Khalid al Falih told Elekhbariya state-TV on Thursday.
Oil prices steadied on Thursday, recovering from an early sell-off after Asian and European stock markets plunged in the wake of Wall Street’s biggest daily decline since 2011.
Europe attempted a rebound on Thursday after Wall Street’s worst day since 2011 and heavy losses in Asia put global stocks firmly on course for their worst month since the financial crisis.
British carmaker Jaguar Land Rover (JLR) expects to hit annual production of 100,000 cars at its plant in Slovakia by 2020, the chief executive of the newly opened factory, Alexander Wortberg, said on Thursday.
China’s state-owned automaker FAW Group said it signed a deal with 16 banks for a credit line worth more than 1 trillion yuan ($144 billion), an eye-catching amount analysts said was mostly symbolic, albeit an important signal of government support.
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