Business » World

Monday, 29 February 2016

IMF says Tunisia should adjust its ‘development model’

2016-02-29 TUNISIA should adjust its development model to counter economic slowdown and build “inclusive growth”, the International Monetary Fund’s country representative said, ahead of an expected line of IMF credit.The authorities have failed to redress the...

Volkswagen ex-CEO told of defeat device admission weeks before news was public

2016-02-29 VOLKSWAGEN’S former chief executive Martin Winterkorn was informed that the carmaker had told regulators it was using defeat devices two weeks before the scandal became public, German tabloid Bild am Sonntag reported yesterday.It said it was in...

Saturday, 27 February 2016

First US LNG export leaves Louisiana

2016-02-27 THE shale fracking revolution in the US oil and gas industry has achieved a milestone: the first export of liquefied natural gas from the country outside of Alaska.The tanker Asia Vision was loaded with a cargo of LNG by Texas firm Cheniere Energy...

Friday, 26 February 2016

China facing pressure to reassure on economy at G20 meet

2016-02-26   CHINA faces pressure to reassure nerve-wracked world markets over how it is steering its slowing economy and managing its currency at Friday’s gathering of finance ministers and central bankers from the United States, Europe and other major...

Air NZ eyes record FY profit

2016-02-26 AIR New Zealand Ltd said growing numbers of tourists combined with a sharp drop in fuel costs lifted it to a record first-half profit, leaving the airline on course for best-ever annual earnings as it reaps the benefit of new global routes.Citing...

Sterling falls near seven-year lows

2016-02-26 STERLING hovered near seven-year lows against the US dollar yesterday and was on course for its worst weekly performance since 2009 as investors fret about a possible British exit from the European Union.Uncertainty created by the June 23...

IN-BRIEF

2016-02-26 Thai exports suffer worst drop in four yearsBANGKOK: Thai exports fell by nearly nine per cent in January, their worst drop in more than four year as economic woes continue to pile up on the kingdom's military rulers, government figures released...

Thursday, 25 February 2016

Xiaomi debuts ceramic-body Mi 5 flagship smartphone

2016-02-25 CHINA’S Xiaomi unveiled its flagship Mi 5 smartphone yesterday, combining the latest components and an innovative ceramic design with a price at just over US$400 that significantly undercuts rivals.The company, however, did not give details of any...

No magic bullet for economy

2016-02-25 INVESTORS hoping for a grand plan from the world’s top financial officials to stabilise shaky markets are set for disappointment, insiders say, when finance ministers and central bankers gather this week in Shanghai to discuss the troubled global...

Airbus lifts A330 output goal as profits meet expectations

2016-02-25 AIRBUS Group reversed part of its plans to cut production of a key aircraft model due to a rebound in demand, a move likely to generate extra cash as it posted 2015 profits in line with expectations yesterday.The European planemaker said it would...

Sharp starts board meeting on Foxconn’s US$5.9b offer

2016-02-25 THE board of Japan’s Sharp Corp began a two-day meeting yesterday to decide if it should accept a US$5.9 billion takeover bid from Taiwan’s Foxconn over an offer from a state-backed fund.A Sharp spokesman confirmed the offers would be discussed...

S Korea Q4 household credit growth near 9-yr high

2016-02-25 SOUTH Korea’s household credit grew at its fastest pace in nearly nine years in the fourth quarter, central bank data showed yesterday, accelerating for the sixth straight quarter thanks to record-low interest rates.To address concerns over...

Beijing overtakes New York city as ‘Billionaire Capital of the World’

2016-02-25 MOVE over, New York City: Beijing is the new “Billionaire Capital of the World”.The Chinese capital has overtaken the Big Apple as home to the most billionaires - 100 to 95 -according to Hurun, a Shanghai firm that publishes a monthly magazine and...

Uber makes first two-wheeler foray with Bangkok motorbikes

2016-02-25 UBER offered its first motorbike taxi service yesterday, launching a pilot scheme in Bangkok which could spread across Asia as it takes on chief regional rival Grab Taxi.Motorbikes have long been a popular commuting option in the Thai capital,...

Oil below US$33 as Saudi rules out oil output cut

2016-02-25   OIL fell below US$33 per barrel yesterday after Saudi Arabia ruled out production cuts and an industry report said US crude stockpiles hit a record, underlining the supply glut. Saudi Oil Minister Ali al-Naimi said production cuts would not...

Malaysia’s Sime Darby Q2 profit down 22% on low commodity prices

2016-02-25 MALAYSIA’S Sime Darby Bhd, the world’s largest palm oil planter by land size, reported a 22 per cent drop in second-quarter net profit as weak commodity prices and consumer demand hit its plantations and industrial businesses.Net profit declined...

Wednesday, 24 February 2016

Global winds chill business optimism in Europe

2016-02-24 BUSINESS confidence fell in Germany and France this month, increasing concern that global market turmoil may be weighing on the economy of the 19-member euro currency union.Germany’s closely watched Ifo confidence index fell to 105.7 points in...

Airline firms escape threat of big costs from new UN climate standards

2016-02-24 AFTER six years of negotiations over UN greenhouse gas regulations, the aerospace industry dodged the threat of spending billions of dollars to re-engineer airplanes.The industry got help from European and Russian negotiators, who successfully...

UK business leaders warn Brexit would hit economy

2016-02-24 THE bosses at more than a third of Britain’s biggest companies said on Tuesday leaving the European Union would put the economy at risk, backing Prime Minister David Cameron’s call for Britain to vote to stay in the June referendum.The pound posted...

Standard & Poor’s downgrades big European oil companies

2016-02-24 STANDARD & POOR’S downgraded Total, Statoil and BP on Monday, saying cheap oil prices would weaken the financial strength of the three top European oil companies.S&P said that based on its new view that the oil market would only partially...

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