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Deutsche Boerse ex-CEO pays 4.75 mn euros to end probe

The former head of German exchange operator Deutsche Boerse has agreed to pay 4.75 million euros ($5.4 million) to end a probe into suspected insider trading, prosecutors said Wednesday. Frankfurt prosecutors opened the case against Carsten Kengeter in 2016 over his purchases of shares...

Saudi PIF entertainment company plans to build leisure complex in Riyadh

Saudi Arabia announced plans Wednesday to build an entertainment complex in the capital Riyadh, the latest in a series of state-backed efforts to encourage public leisure activities after decades of tight social restrictions. The 100,000 square metre complex will be developed by the...

Syria’s investors do ‘great business’ in Sudan

(Zaman Al Wasl)- With the increasing number of Syrians refugees, some Arab countries have imposed a visa as a condition for entry, except for Sudan that turned into the only free Arab destination for people fleeing war-wrecked country. The Sudanese Committee for the Relief of the...

Chinese firms offer subsidies on Huawei phones in show of support

Chinese firms are encouraging staff to buy Huawei smartphones following Canada’s arrest of a top Huawei executive on a US extradition request, which has triggered an outpouring of nationalist support. Several companies are offering employees subsidies for Huawei phone purchases, while...

North Korea ‘Singapore shops’ reveal familiar sanction gaps

Despite the unwanted publicity of a criminal trial for one of their main suppliers, business is booming at Pyongyang’s ‘Singapore shops,’ which sell everything from Ukrainian vodka to brand-name knock-offs from China. The stores stock many of the very things United Nations’ sanctions...

Markets Right Now: US stocks rally, erase big drop in Dow

U.S. stocks are staging a furious late-afternoon rally Thursday, closing with gains after erasing a 600-point drop in the Dow Jones Industrial Average. The Dow rose 258 points, or 1.1 percent, adding to Wednesday’s record gain of 1,086 points. The S&P 500 added 21 points to 2,488....

Private buyers of Iran crude had no problems exporting it: oil minister

Private buyers of Iranian crude have had "no problems" exporting it, Iran's oil minister was quoted as saying Wednesday by state news agency IRNA, despite U.S. sanctions targeting Iran's oil exports. Iran began selling crude oil to private companies for export in late October, just...

Saudi banks reach $4.5B deal over zakat

Major banks in Saudi Arabia reached settlements worth a combined 16.7 billion riyals ($4.5 billion) with the kingdom’s tax authority over a religious levy the lenders had been kicking against. The deals come as the world’s largest crude exporter predicts a budget shortfall of 131 billion...

China's Huawei faces new setbacks in Europe's telecom market

The U.S. dispute with China over a ban on tech giant Huawei is spilling over to Europe, the company's biggest foreign market, where some countries are also starting to shun its network systems over data security concerns. Some European governments and telecom companies are following the...

Germany to bar Iran's U.S.-sanctioned Mahan Air: Bild

BERLIN (Reuters) - Germany is to ban flights in and out of the country by Iran’s Mahan Air, which is under U.S. sanctions over allegations it ferries troops and supplies into Syria in support of President Bashar al-Assad, a newspaper reported on Friday. Bild said the German government...

Armed group blocks key Libya oil field for a week

One of Libya's largest oil fields has been out of production for more than a week, the state-owned National Oil Corporation said Tuesday, blaming a militia for the shutdown. The NOC said early last week that an armed group had seized the Sharara site, prompting it to declare "force...

Bitcoin climbs above $3,400, headed for biggest daily rise in nearly 3 weeks

Bitcoin rose sharply Monday, climbing above $3,400 in a move traders ascribed to heavy buying on Japan and Hong Kong-based exchanges. The original cryptocurrency jumped as much as 11 percent on the Bitstamp platform and was headed for its biggest daily rise since Nov. 28....

Renault board maintains Ghosn as CEO, says pay was legal

The board of the French automaker Renault said Thursday it was keeping Carlos Ghosn as its chief executive, after an internal review of his pay package found that it had conformed with French law. Ghosn has been held under arrest in Japan since November 19 on charges of financial...

Canada judge orders Huawei exec released on bail

A Canadian judge granted bail Tuesday to a top Huawei executive after her arrest on a US warrant, in a case that has frayed relations between the North American allies and China. Meng Wanzhou, Huawei's chief financial officer, is wanted by US authorities for violating Iran sanctions but...

Huawei exec remains behind bars in Canada

A second day of court Monday brought no resolution to the question of whether a senior executive of Chinese tech giant Huawei would be granted bail, with the hearing resuming tomorrow. The arrest of the company’s chief financial officer, Meng Wanzhou, on Dec. 1 at Vancouver...

Oil prices up as US, China restart trade talks

Crude oil prices were slightly up at opening on Tuesday as the U.S. and China's restart of trade talks provided optimism for investors who expect poor global economic growth and low overall oil demand next year. International benchmark Brent crude was trading at $60 a barrel at 0500 GMT...

Iraqi oil minister expects prices to rise over time

Iraqi Oil Minister Thamer Ghadhban said Monday he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have dropped to $45-50 per barrel. Speaking at a ministry event in Baghdad, Ghadhban said the recent fall...

Saudi crude exports expected at 7.3M bpd in Jan, down 1M bpd from Nov: sources

Saudi Arabia’s crude oil exports are expected to drop next month by some 1 million barrels per day from November levels, two sources familiar with the matter said Saturday. The world’s top oil exporter is expected to ship about 7.3 million bpd in January, one of the sources said,...