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Banking 22 Nov 2017 | 5:35 PM

UK to sell RM82bil RBS shares to boost government coffers

LONDON: Britain will reprivatise bailed-out lender Royal Bank of Scotland by selling £15bil (RM82bil) of shares, according to budget documents released on Wednesday, in a boost to finance minister Philip Hammond’s coffers.

Business 23 Mar 2017 | 12:50 AM

Breakfast briefing: Thursday, March 23 (Update)

Breakfast briefing: Thursday, March 23

Economy 24 Nov 2016 | 10:45 PM

British Chancellor Hammond chooses his battle - fixing weak productivity

LONDON: In 2011, early in his time as Chancellor, George Osborne said he would revive British manufacturing as he promised "a march of the makers" to rebalance the economy. This week, Osborne's successor Philip Hammond staked out his own priority: turning around Britain's long-standing productivity problem to meet the challenges of leaving the European Union.

Corporate News 13 Oct 2016 | 12:07 AM

UK house prices rise for second month in Sept, London weak

LONDON: British house prices rose for a second month in September and enquiries from buyers picked up for the first time since February, suggesting the housing market has weathered the initial shock of the Brexit vote, a survey showed.

Economy 10 Aug 2016 | 10:15 PM

US government posts $113 billion deficit in July

NEW YORK: The U.S. government posted a $113 billion budget deficit in July, a 24 percent drop from the same month last year, the Treasury Department said on Wednesday.

Business 14 Mar 2016 | 12:00 AM

Britain to cut spending further to protect budget plan

LONDON: British finance minister George Osborne (pic) said he would announce deeper cuts to public spending this week in order to protect his plan to eliminate the budget deficit from a weakening of the economy.

Business 03 Feb 2016 | 12:00 AM

India central bank maintains rates at 6.75%

MUMBAI: India’s central bank kept its policy rate on hold at 6.75%, as widely expected, opting to wait until after the government’s annual budget statement at end-February to decide on whether to cut interest rates further.

Business 02 Feb 2016 | 7:57 AM

Top foreign and local stories at 4pm

Top foreign and local stories at 4pm

Banking 02 Feb 2016 | 7:51 AM

India keeps rates on hold, says budget key to more easing

MUMBAI: India's central bank kept its policy rate on hold at 6.75% on Tuesday, as widely expected, opting to wait until after the government's annual budget statement at the end February to decide on whether to cut interest rates further.

Economy 28 Dec 2015 | 4:05 PM

Saudi plans spending cuts, reforms to shrink huge budget deficit

RIYADH/DUBAI: Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation.