Foreign Business

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BERLIN: Germany’s trade surplus grew slightly in August compared with the previous month, official data showed Tuesday, with no sign complaints from abroad are sapping the export strength of Europe’s powerhouse. Exports outweighed imports by 21.6 billion euros ($25.5 billion) in August, slightly more than in July, federal statistics authority…

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BARCELONA: The political uncertainty caused by Catalonia’s independence push is hitting small businesses and people’s savings accounts after pushing several big firms and banks to relocate elsewhere in Spain. The prospect of an independent Catalonia has already prompted two major banks — Sabadell and CaixaBank — and other listed firms…

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RIYADH: Saudi Arabia’s Public Investment Fund on Monday announced a new investment arm to provide financing for small and medium-sized enterprises, the state-owned PIF said in a statement. The four-billion-riyal ($1.1-billion) “Fund of Funds” will invest in venture capital and private equity targeting SMEs, the statement said. The fund is…

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STOCKHOLM: US economist Richard Thaler won the Nobel Economics prize on Monday for showing that economic and financial decision-makers are not always rational, but mostly deeply human. Bridging the gap between economics and psychology, Thaler’s research focuses on behavioural economics which explores the impact of psychological and social factors on…

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FRANKFURT AM MAIN: German industrial output, a key indicator of economic health, grew faster than expected in August, data showed on Monday, putting Europe’s biggest economy on course for a strong performance this year. Output grew by 2.6 percent month-on-month in August, federal statistics authority Destatis said. Analysts had forecast…

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SYDNEY: France’s AccorHotels has made a Aus$1.17 billion (US$910 million) bid for one of Australia’s biggest hotel operators, the Mantra Group, the local company said Monday in a move that sent its share price soaring. Mantra, which operates more than 20,000 rooms in Australia, New Zealand and Indonesia, said it…

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KHARTOUM: Sudan’s national carrier aims to revive its fleet by procuring new components from Boeing and Airbus after Washington lifted its 20-year-old trade embargo on Khartoum, a minister said Sunday. Sudan Airways, one of the oldest airlines in Africa, has 12 of its 14-strong fleet of aircraft grounded after failing…

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SYDNEY: Australia’s biggest bank, the Commonwealth, vowed Monday to fight what could become the country’s largest shareholder class action over alleged breaches of anti-money laundering laws. The open class action, filed by law firm Maurice Blackburn and litigation funder IMF Bentham in the Federal Court in Melbourne Monday, followed a…

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BRUSSELS: Brexit negotiations enter a critical round on Monday with British Prime Minister Theresa May saying the ball is in the EU’s court, but the bloc fearing her domestic political woes threaten the talks. EU negotiator Michel Barnier and British counterpart David Davis kick off the fifth round of divorce…

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HONG KONG: Most Asian markets started the week on a positive note Monday, with Shanghai returning from a week-long break with healthy gains as traders looked past a surprise drop in US jobs. But geopolitical tensions returned with another feared North Korea long-range missile test reportedly in the planning and…

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