Business


US economy contracts as strong dollar hits growth

by Bloomberg News
Income side of the economy was more upbeat last quarter, with the GDP report offering a first snapshot of the quarter’s gross domestic income. Photo: Bloomberg file
Gross domestic product (GDP) in the US shrank at a 0.7 per cent annualised rate, revised from a previously reported 0.2 per cent gain, according to Commerce Department figures issued on Friday

read more
Swiss growth shrinks in first quarter
With the franc still overvalued, according to the Swiss National Bank (SNB), the risk is that the weakness persists.

UK bonds risk losing their edge over euro area rivals
Unlike ECB, which is set to continue its monthly 60 billion-euro bond-buying plan until September 2016, officials in the US and Britain are debating when to increase record-low borrowing costs

US-China competition in Asia creating risks: Singapore
All Asian countries hope that US-China relations will be positive, and none want to choose a side, Lee said in a speech to defense officials on Friday

Robots with human grasp is new challenge to students by Amazon
e-Retailer has budgeted a total of $26,000 for prizes and $60,000 for travel grants for more than 30 teams participating in the competition this week


More in Business
Libya seconds Opec output target as ministers head to Vienna
Output target will remain 30 million barrels a day, Mohammad Oun, Libya’s deputy vice prime minister for energy, said by phone on Thursday from al-Bayda, eastern Libya
Dubai International Capital in talks to sell Almatis to Oyak
Negotiations between Dubai International Capital and Oyak, which invests in everything from manufacturing to financial services, are advanced but could still fall apart
AirAsia’s first quarter profit rises to $41 million on lower operating costs
Net profit for the quarter ending March 31 was 149.3 million ($40.8 million) the company said in a statement late Thursday, while revenue dipped 0.4 per cent to 1.30 billion ringgit.
Shinsei Bank keen to buy General Electric’s Japan leasing business
Japanese bank, which already owns Showa Leasing, wants to examine how GE’s operation would fit into its existing business before deciding whether to make a bid
Iranian carmaker suggests assembly unit in Oman
Proposal was made by Iran Khodro Industrial Group when officials from Oman Investment Fund visited Tehran
Airbus looking beyond ‘big three Gulf airlines’
Planemaker is targeting smaller airlines from Saudi Arabia, Egypt, Algeria, Tunisia and Morocco
Oman: Taxpayers set to face more scrutiny
Seminar was organised to give companies an overview of the global, regional and local developments in the field of tax.
Oman: Eleven firms vie for Musandam power project’s major contract
Project is being implemented by Musandam Power Company on a build-own-operate basis under the terms of a power purchase agreement with Oman Power and Water Procurement Company.
Oman: Over 350 finance professionals to take part in ICAI’s conference
onference, titled ‘Growth and Governance – Role of Accounting Professionals’, will be inaugurated by Nasser Hamood Al Rawahy, vice chairman of State Audit Institution
Oman's share index ends higher
Wednesday’s top gainer was Majan College, up by 10.00 per cent, while Al Jazeera Steel, down by 5.96 per cent, was the top loser
Opec backing Saudi Arabia’s plan to keep supplies elevated
With US output peaking and prices up, Saudi Arabia’s strategy will be extended at Opec’s semiannual meeting on June 5, say Societe Generale and Bank of America.
VIDEO: Iranian carmaker moots assembly unit in Oman & other stories

Initial tender for Salalah water project to be floated before year-end
Project would be commissioned by the first quarter of 2019 and a similar project is planned for Sharqiya region, which will also be completed at the same time.
Oman: Al Jadeed Exchange signs pact to purchase currencies
Tie-ups with Bahrain Finance Company and India-based Muthoot Group will enable us to supply foreign currency at very competitive rates, said chief executive officer of Al Jadeed Exchange
Greece to repay creditors as long as it can
Greece’s radical-left government has been locked in negotiations with its creditors — the IMF, the European Union and the European Central Bank — for the past four months

POPULAR IN TIMES
Saudi Arabia car blast: Three killed in Damman mosque bombing claimed by IS militant group
The suicide bomber -- disguised in women's clothing -- detonated his device at the entrance to the mosque during Friday prayers, the official Saudi Press Agency cited a ministry spokesman as saying.
Oman accident: Man dies after he falls into a well in Barka
A man died after he fell into a well at Hay Assim wilayat of Barka on Thursday morning, according to the Public Authority for Civil Defence and Ambulance (PACDA)
Yemen crisis: Houthi rebels kill Sanaa's governor, claim relatives
Abdulghani Jamil and his nephew Nasr Jamil "died of wounds sustained during late Thursday clashes between the governor's aides and Houthi militiamen", the sources said.
Japanese island evacuated after volcanic eruption
Footage by the Japan Meteorological Agency captured the moment the plume rocketed from Mount Shindake on the far southern island of Kuchinoerabu.
Oman weather: Four plants that beat the summer heat
House plants are the ultimate functional indoor décor. Well-placed greenery doesn’t just brighten a space; it also purifies the air while creating a more relaxing, restful ambience
Oman's Qasim Al Farsi wins Red Bull 5 Pics contest
Hundreds of photography lovers gathered at the pop art themed exhibition held on Wednesday evening at Bait Al Zubair.
Syrian army abandons Idlib as rebels tighten grip on province
Rebels now control the vast majority of Idlib province after Al Nusra Front -- Al Qaeda's Syrian affiliate -- and its allies overran Ariha and surrounding villages on Thursday.
Oman weather: Scorching heat takes toll on people’s health
Reducing exposure to sun and drinking plenty of water can together help avoid adverse impact of the hot weather, say health experts
Philippine soldier surrenders after holding hostages on tour bus
Corporal Rene Prajele, who was carrying his army-issued M-16 rifle, stopped the bus in a farming area about 300 kilometres (180 miles) from the Philippine capital, said police spokeswoman Maria Luisa
Oman's Port of Duqm spurs economic development
Oman's newest port, a joint venture between the Omani Government and the Consortium Antwerp Port, speeds up economic development in industrial and service sectors
No Article Available
No Article Available




LATEST IN TIMES