Business News :

Qatar rift overshadows Gulf Arab summit as emir stays away

A Gulf Arab summit called for regional unity as Bahrain and Qatar traded barbs over the Qatari emir's decision not to attend the gathering in Saudi Arabia on Sunday in a sign that a row between Doha and its neighbours is still festering.

U.S. says March 1 'hard deadline' for trade deal with China

U.S.-China trade negotiations need to reach a successful end by March 1 or new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a "hard deadline" after a week of seeming confusion among President Donald Trump and his advisers.

Libya is shutting down El Sharara after field seized by tribesmen: engineers

Libya is shutting down production at its biggest oilfield after tribesmen and state-paid security guards seized the El Sharara facility, threatening oil workers, several field engineers and protesters said on Sunday.

World Bank shifts focus to Egypt's private sector with $1 billion loan

The World Bank is pushing to prise open more space for Egypt's private sector with $1 billion in new funding, part of a second phase of support that follows two years of painful economic reforms, the bank's regional vice-president said.

China says U.S. should withdraw arrest warrant for Huawei executive

China's foreign ministry called in the U.S. ambassador on Sunday to lodge a "strong protest" over the arrest in Canada of Huawei Technologies Co Ltd's chief financial officer, and said the United States should withdraw its arrest warrant.

Dubai tourism growth stalls in first nine months of 2018

Growth in the number of foreign visitors to Dubai stalled in the first nine months of year, official data showed on Sunday in a sharp slowdown in tourism in the Gulf emirate.

Nissan seeks to block Ghosn's access to apartment in Rio

Nissan said it was seeking to block former chairman Carlos Ghosn's access to an apartment in Rio de Janeiro, citing a risk that the executive, arrested and removed from his role for financial misconduct, may remove or destroy evidence.

Analysis: Brexit redux? Lessons for the future from May's deal

The story of how Prime Minister Theresa May reached agreement on how Britain can leave the European Union offers lessons for the future of Brexit, whatever happens when parliament votes on the deal on Tuesday.

Protesters force shutdown at Libyan El Sharara oilfield: sources

Tribesmen staging a protest at Libya’s 315,000 barrels-a-day El Sharara oilfield are forcing workers to shut down production, two Libyan oil officials and a spokesman for the protesters said on Sunday.

Volkswagen denies allegations chairman knew early about emissions cheating: report

Volkswagen has denied allegations that Chairman Hans Dieter Poetsch knew about the carmaker's emissions test cheating almost three months before U.S. authorities made it public in September 2015.

Israel market regulator proposes English language option for listed companies

All companies listed on the Tel Aviv Stock Exchange should be allowed to report in English to help them to attract more international investment, Israel's market regulator proposed on Sunday.

Qatar finance minister says budget for 2019 will project surplus

Qatar's national budget for 2019 will show a forecast for a surplus, its Finance Minister Ali Shareef al-Emadi told a conference on Sunday.

China urges Canada to free Huawei CFO or face consequences

China warned Canada on Saturday that there would be severe consequences if it did not immediately release Huawei Technologies Co Ltd's chief financial officer, calling the case "extremely nasty".

Uber makes confidential filing for long-awaited IPO

Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial companies in Silicon Valley.

Exclusive: Odebrecht Peru agrees to plea deal with Peruvian authorities over bribery scandal - sources

Brazilian builder Odebrecht’s Peruvian unit has signed a deal with Peruvian authorities to pay a multimillion dollar fine that will allow it to continue operating in the country in return for providing evidence about officials it bribed, three sources related to the matter told Reuters on Saturday.

Libyan state oil firm scrambles to keep El Sharara oilfield open amid "occupation"

Libyan state security on Saturday threatened to shut down production at the giant El Sharara oilfield but the field remains open, state oil firm NOC said, denouncing what it called an "occupation" of the 315,000 barrels-a-day facility.

China's November PPI up 2.7 percent, CPI up 2.2 percent

China's factory prices rose in November at their slowest pace since October 2016 as domestic demand lost further momentum, piling pressure on policymakers to unveil more measures to support the economy.

China's top steelmaking city deepens output curbs to fight smog

Steel mills and other industrial plants in China's top steelmaking city Tangshan were on Saturday ordered to make further output cuts in December, as part of emergency measures to fight smog.

Red-hot U.S. jobs market drives some to seek cooler options

When Sean Luangrath joined Pocatello, Idaho-based Inergy Solar a few years ago, the plan was to move the portable solar battery maker to his home base of Salt Lake City so he could build it with easy access to Silicon Slopes' tech talent and venture capital.

Julius Baer in talks with Santander over Venezuela business: sources

Swiss private bank Julius Baer is in talks about transferring its Venezuelan book of business to Spain's Banco Santander as Baer reorganises operations in Latin America, sources close to the situation have told Reuters.