Business » World

Wednesday, 23 March 2016

Oil market rattled by deadly Brussels blasts

2016-03-23 OIL prices seesawed on Tuesday, rattled by investor nervousness after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold.A suicide bomber blew himself up at Brussels airport on Tuesday killing at least 11...

Stocks slide, safe assets rise after Brussels attacks

2016-03-23 WORLD stocks fell and safe haven gold and government bonds rose yesterday after attacks on the airport and a rush-hour metro train in Brussels that triggered security alerts across western Europe.Travel sector stocks including airlines and hotels...

Tuesday, 22 March 2016

Smaller iPhone expected as Apple counters drop in sales

2016-03-22 APPLE Inc was expected yesterday to launch a smaller, cheaper iPhone aimed at emerging markets and possibly China, the world’s biggest buyer of smartphones, as it looks to reverse a decline in worldwide sales of its most important product.The...

How China asked Fed for help

2016-03-22 CONFRONTED with a plunge in its stock markets last year, China’s central bank swiftly reached out to the US Federal Reserve, asking it to share its play book for dealing with Wall Street’s “Black Monday” crash of 1987.The request came in a July 27...

Court to hear Samsung-Apple patent damage appeal

2016-03-22 THE US Supreme Court on Monday opened the door to reducing the hundreds of millions of dollars in damages owed by Samsung to Apple in the blockbuster patent case between the world’s biggest smartphone makers.The court agreed to hear one element of...

‘Brexit could cost Britain US$145b, millions jobs’

2016-03-22 A BRITISH vote to leave the European Union could cost the economy 100 billion pounds (US$145 billion) and 950,000 jobs by 2020, according to research commissioned by employers’ group the Confederation of British Industry (CBI). The CBI said “...

Monday, 21 March 2016

Apple aims to bolster lineup with new iPhone

2016-03-21 NEW iPhone and iPad models likely to be unveiled Monday are aimed at helping Apple keep momentum in the fast-evolving mobile device market. The media gathering at the company’s intimate Town Hall auditorium in Silicon Valley will also give Apple a...

Storied Czech glass blowing industry embraces reinvention

2016-03-21 THE Czech glass making industry, with a history dating to the 12th century, is embracing new technologies and marketing strategies to help it rebound from the recent years’ global economic downturn. The sector, which makes everything from luxury...

Online lodging service Airbnb opens Cuba listings to world

2016-03-21 ONLINE lodging service Airbnb is allowing travelers from around the world to book stays in private homes in Cuba after the San Francisco-based company received a special authorisation from the Obama administration, Airbnb announced yesterday....

Corporates line up to cash in on ECB funding

2016-03-21 THE European Central Bank’s plan to buy corporate bonds to help the eurozone economy is boosting the private-sector debt market which promptly responded with a new record-sized company bond. With interest rates near or below zero and few other...

Saturday, 19 March 2016

Oil hits above US$42/bbl

2016-03-19 OIL rose above US$42 a barrel on day, hitting its highest this year and extending a rally into a fourth week on expectations of a production freeze by major exporters, stronger seasonal demand and dollar weakness. Brent crude’s front-month...

Luxury jeweler Tiffany warns on profit as tourists cut spending

2016-03-19 UPSCALE jeweller Tiffany & Co said it expected profit to fall in the first half of this fiscal year as a strong US dollar hurts tourist spending at its stores in the United States and erodes revenue from other markets.Weakness in the global...

Bang & Olufsen outsources TV production

2016-03-19 BANG & Olufsen, the Danish maker of upmarket sound systems and televisions, said yesterday it had entered a partnership with LG Electronics to outsource its production of televisions.The struggling Danish firm, which said in November it was in...

Friday, 18 March 2016

New Zealand economy shrugs off dairy woes

2016-03-18 NEW Zealand’s economic growth exceeded expectations in the fourth quarter of 2015 despite a downturn in the country’s multi-billion dollar dairy industry, official figures released yesterday show.Statistics New Zealand said the economy expanded 0.9...

Samsonite profits up in 2015 but outlook ‘uncertain’

2016-03-18   LUGGAGE giant Samsonite yesterday warned its outlook for this year was “uncertain” owing to the growth slowdown in key market China and a stronger US dollar. The firm said in a filing with the Hong Kong Stock Exchange that despite a tough...

IN-BRIEF

2016-03-18 Canon to buy Toshiba’s medical equipment unitTOKYO: Canon Inc has agreed to buy Toshiba Corp’s medical equipment unit for 665.5 billion yen (US$5.9 billion), the companies said yesterday. Toshiba, which is selling the unit to help fund...

Thursday, 17 March 2016

China’s Chery partners Egypt’s Ghabbour Auto, Aboul Fotouh to relaunch new cars

2016-03-17 CHINA’S leading automaker, Chery International, announced Tuesday the relaunching of its Speranza cars under the new name of “Chery”.The “Chery” will be assembled in Egypt in partnership with two leading Egyptian automobile corporations, Ghabbour...

Carmaker focuses on harnessing technology

2016-03-17   GERMAN carmaker BMW said it will focus on electric vehicles and automated driving and develop its software and technology services as part of a new strategy for the 100-year-old carmaker. The emergence of rivals including ride-sharing company...

Porsche pays higher bonus despite VW’s cost-cutting measure

2016-03-17 PORSCHE said it would pay workers a higher bonus for 2015 despite the emissions test-rigging scandal at parent Volkswagen (VW) that has sparked cost reductions across the group.Porsche, the second-biggest contributor to group profit among VW’s...

Investors slow to catch on thriving EM businesses

2016-03-17 INDIAN airlines, Brazilian chemical producers and Turkish carmakers and are just some of the emerging market firms thriving thanks to low commodity prices, and yet investors are often slow to catch on due to the asset class’s dismal overall...

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