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Tuesday, 22 May 2012
FRANCE'S Francois Hollande will push a proposal for mutualising European debt at an informal summit of EU leaders in Brussels this week, increasing pressure on German Chancellor Angela Merkel to drop her opposition to the idea.!Senior EU and US...
RYANAIR yesterday warned that profit would weaken this year owing to recession in Europe and high oil prices, after the Irish no-frills airline unveiled record earnings thanks to higher revenues.After announcing a 25-per cent jump in annual net...
ISRAELI goods produced in the occupied Palestinian territories and sold in South Africa may no longer be labelled "Made in Israel," the South African trade minister said yesterday, causing concern in Israel that other countries may follow...
Future of Opel plant uncertain after 2014 BERLIN: The head of German carmaker Opel, under pressure from parent General Motors' to end losses, refused to promise workers at its plant in Bochum that their jobs would be safeguarded beyond 2014....
IRAN'S economy minister said oil prices will "certainly" rise if the European Union moves ahead with an embargo in July and that sanctions will backfire on those who impose them.!The European Union is preparing for a total embargo on the...
THE European Central Bank's "plan A" is for Greece to remain in the single currency and that is the only scenario the central bank is working on, a top ECB official said yesterday.The ECB's "preference is that Greece remains in the...
EU LEADERS will lay foundations for a new growth strategy at a Wednesday summit, agreeing cross-border borrowing to kickstart targeted investment in the run-up to key Greek and French elections.But for all the talk at a weekend G8 summit that saw US...
SIX Japanese banks will extend a syndicated loan of about ¥20 billion (US$253 million) to two companies to purchase Seajacks, a British company that builds wind power generators, according to industry sources.Marubeni Corp and Innovation Network...
CHINESE Internet entrepreneur Jack Ma is buying back up to half of a 40 per cent stake in his Alibaba Group from Yahoo Inc for US$7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing.!Under the agreement, Yahoo...
JAPAN said yesterday it is in talks with Myanmar on an investment treaty, with Tokyo eyeing terms to help its companies establish themselves in the isolated nation as it embraces democratic reforms.A second round of the negotiations, which began in...
Qantas slashes 500 jobs as part of restructuringSYDNEY: Australian flag carrier Qantas said yesterday it will axe 500 jobs in its heavy maintenance and engineering operations as part of a restructuring to cut costs, sparking an angry backlash from...
AUSTRALIA will sign a free trade agreement (FTA) with Malaysia today in a move it hopes will add new momentum to stalled bilateral trade talks with other key Asian trading partners.Australia is still negotiating free trade deals with South Korea,...
BANGLADESH has discovered oil in two old gas fields in the country's northeastern region with an extractable reserve worth US$5.5 billion, the chairman of state-owned Petrobangla said yesterday.Hussain Monsur told AFP the two finds at Kailashtila...
THAILAND'S economy posted double-digit growth in the first quarter of 2012, rebounding sharply from the fallout of last year's devastating floods, official data showed yesterday.Gross domestic product (GDP) grew 11 per cent in January-March from the...
Monday, 21 May 2012
FACEBOOK resumes trading on Wall Street today with shares being closely watched to see how well they stand on their own after stumbling out of the gate in a historic but lackluster debut.Second-guessing continued through the weekend as analysts and...
A RECORD-BREAKING pay deal will give millions of German workers their biggest rise in wages in two decades, boost consumption in Europe's biggest economy and help towards adjusting the regional imbalances that have caused severe tensions within the...
EUROPEANS are avoiding vacations to Greece this summer fearing instability sparked by the debt crisis, industry sources say, inflicting a hard blow to the country's already devastated economy."From the aftermath of the elections on May 6, we...
GERMAN Finance Minister Wolfgang Schaeuble said yesterday cash-strapped Greece needed to implement EU and IMF-imposed austerity measures as European solidarity was "not a one-way street"."To tell the Greeks that they need not apply...
IRAN yesterday announced an upward revision of its annual budget, as a rise in oil prices appeared to mitigate the impact of international sanctions on its economy.The Islamic republic's Guardians Council approved the budget for Iran's calendar and...
G8 LEADERS expressed their wish to see Greece stay in the eurozone at a Camp David summit as the group papered over deep-seated divisions about how best to tackle the eurozone crisis.With the future of Europe's currency union in doubt, leaders of...
