Tuesday , December 12 2017

News

Car dealers dodge retail doomsday as Black Friday buoys sales

epa05697397 (FILE) - A Ford Focus on the assembly line at Ford Motor Company's Wayne Assembly in Flat Rock, Wayne, Michigan, USA, 07 January 2015 (reissued 04 January 2017). Ford canceled the 1.6 billion US Dollar investment in the Mexican town of San Luis de Potosi, where it planned to build a new vehicle assembly plant. In a statement on 03 January 2017, Ford also said it will produce the new generation of the Focus model at the assembly plant in the Mexican city of Hermosillo 'to improve the company's profitability', and that it will invest 700 million US Dollar in the American factory of Flat Rock in Michigan.  EPA/JEFF KOWALSKY

Bloomberg There’s an exception to the rule that Black Friday deals don’t drive traffic to brick-and-mortar stores anymore: car dealerships. Honda Motor Co. and Ford Motor Co. reported bigger US sales gains than expected for in November as big rebates and cut-rate financing offers lured buyers into showrooms. While total ...

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Saudi’s Jarir expects moderate growth in 2018, plans expansion

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RIYADH / Reuters Major Saudi Arabian retailer Jarir Marketing Co expects single-digit growth in sales in 2018, after a double-digit pace this year as it took market share from smaller rivals, its chairman said. Government regulations pushing retailers of electronics to hire Saudi citizens instead of less costly foreigners hurt ...

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Trump rebuffs oil, rewards Iowa with steady biofuel quotas

Trump rebuffs oil, rewards Iowa with steady biofuel quotas copy

Bloomberg The Trump administration, rebuffing oil industry demands for broad changes to the US biofuel mandate, largely maintained the status quo in setting final quotas for how much refiners must blend into gasoline and diesel. But the Environmental Protection Agency’s decision drew only tepid applause from Iowa politicians, Midwest corn ...

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Gulf chemical sector records $77 billion revenues in 2016

DUBAI / WAM Chemical industry in Arabian Gulf countries registered $77 billion in revenues in 2016, three percent less than the previous year due to fluctuation in international oil prices, an official said. Kuwait News Agency (KUNA), quoted Dr Abdulwahab Al-Sadoun, Secretary General of the Gulf Petrochemicals and Chemicals Association, ...

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