Business » World

Thursday, 1 January 2015

European stocks rise at open

2015-01-01 EUROPE’S main stock market rose at the open yesterday, the last trading day of a tough year for the region’s equities against a backdrop of weak eurozone growth.London’s benchmark FTSE 100 gained 0.25 per cent to 6,563.33 points at the start of a...

Wednesday, 31 December 2014

Rapid growth leaves Asian airlines searching for pilots

2014-12-31 EVERY week, a combined total of 28 new planes roll off the assembly lines at Airbus, Boeing, Bombardier and Embraer factories — the fastest production rate in the history of commercial aviation. Most of those aircraft feed the insatiable demand in...

Rouble resumes recovery as exporters seen selling dollars

2014-12-31 THE Russian rouble staged an uncertain recovery yesterday as traders saw modest foreign-currency sales on the final day of trading before the New Year holidays.At 1230 GMT, the rouble was around 2.6 per cent stronger against the dollar at 56.81...

Gold climbs as year-end jitters knock stocks, dollar

2014-12-31 GOLD rose yesterday as sliding oil prices and worries about Greece’s future in the euro zone sparked selling of European stocks while the dollar slipped against a basket of currencies.That helped gold to recover lost ground after prices fell one...

ECB to roll out heavy artillery against deflation next year

2014-12-31   AFTER a breathless year of action and now a new political crisis in Greece, the European Central Bank may finally roll out its heavy artillery in 2015 in its battle against deflation, analysts said. Bank watchers say new elections due in...

Ukraine economy shrank 7.5%

2014-12-31     UKRAINE’S central bank chief said yesterday that the strife-torn country’s economy contracted by 7.5 per cent in 2014 while inflation soared in a year more painful than any since World War II. But Valeria Gontareva said the pro-Western...

Tuesday, 30 December 2014

China offers to sign FTA with Bangladesh

2014-12-30 CHINA has offered to sign a free trade agreement with Bangladesh to try to narrow a growing trade gap, the Bangladeshi foreign minister said Monday.Chinese Foreign Minister Wang Yi made the proposal during talks with his counterpart in Dhaka in a...

Allianz endures its third major aviation accident for 2014

2014-12-30 ALLIANZ SE could be exposed to claims of at least US$100 million linked to the AirAsia jet missing off the Indonesian coast with 162 people on board, which would be the third major airline accident it has been exposed to this year.Allianz said on...

Oil price up on stimulus boost

2014-12-30 BRENT crude oil rose to US$60 per barrel on Monday, supported by concern about disruption to exports from Libya, but a global supply glut kept prices nearly 50 per cent off their peak for the year.Oil prices also drew support from plans by China...

Monday, 29 December 2014

Ruble fall creates turbulence for Russian airlines

2014-12-29 THEIR international competitors may be cheering tumbling oil prices, but the collapse in the ruble has meant major financial turbulence for Russian airlines who have expenses in foreign currencies.The ruble has slumped by 40 per cent this year...

German central bank chief: cheap oil is stimulus

2014-12-29 THE president of Germany’s central bank is questioning the need for the European Central Bank to embark on a new bond-buying program when the continent is being “gifted a stimulus program” by low oil prices.The ECB is considering whether and how to...

Saturday, 27 December 2014

Rouble rebounds sharply from lows as exporters sell dollars

2014-12-27 RUSSIA’S rouble rose yesterday to its strongest levels in more than three weeks, in a sharp rebound from its recent all-time lows, after the government ordered exporters to sell some of their hard currency revenues. The rouble plunged to all-time...

Saudi finance minister says no need to create sovereign wealth fund

2014-12-27 SAUDI Arabia’s finance minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil wealth, rebuffing suggestions by prominent officials and businessmen.At present, the surplus petrodollars of the world’s top...

Thursday, 25 December 2014

Russia to help large borrowers

2014-12-25 RUSSIA’S central bank yesterday offered to help top exporters refinance heavy foreign debts next year, expected to be one of the toughest of President Vladimir Putin’s 15-year rule for the economy due to Western sanctions and a plunge in oil prices...

European Union to lift export taxes on Kenyan flowers

2014-12-25 THE European Union will grant an early return to duty-free trade in a range of agricultural products from east Africa, its ambassador to Kenya said yesterday. The new deal will take effect today,replacing a tax the EU imposed on October 1 after...

US jobless claims fall for fourth straight week

2014-12-25 THE number of Americans filing new claims for unemployment benefits unexpectedly fell last week, underscoring the economy’s enduring strength. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 280,000 for the...

In Brief

2014-12-25 French jobless ticks up to new record in NovemberPARIS: More people were unemployed in France in November than ever before, data showed yesterday, highlighting continued weak activity in the euro zone's second-largest economy. The Labour Ministry...

Wednesday, 24 December 2014

OPEC won’t cut output even at $20 a barrel: Saudi

2014-12-24 OPEC will not cut oil production even if the price drops to $20 a barrel, and it is unfair to expect the cartel to reduce output if non-members do not, Saudi Arabia said.“Whether it goes down to $20 a barrel, $40, $50, $60, it is irrelevant,” the...

IPO bankers end 2014 on a merry note

2014-12-24 Bankers responsible for floating companies and selling new shares into the market will enjoy a well-earned rest this Christmas after their busiest year since 2007, having notched up business worth almost $865 billion in the last 12 months. Firms...

US economy grew at fast 5 per cent annual rate in Q3

2014-12-24 THE US economy grew at a sizzling five per cent annual rate in the July-September period, the fastest in more than a decade, boosted by strength in consumer spending and business investment.The resurgence in growth last quarter provided the latest...

Pages