Business » World

Thursday, 2 July 2015

S Korea exports fall for 6th month

2015-07-02 SOUTH Korean exports declined for a sixth straight month in June, keeping policymakers under pressure as they sought to inject billions of dollars of fresh stimulus into an economy reeling from a one-two punch of weak domestic and global demand....

Oil below US$63, OPEC ‘floods market’

2015-07-02 OIL fell below US$63 a barrel on Wednesday after Greece defaulted on its debt to the International Monetary Fund while US and OPEC production hit new highs, prompting concern about risks to the economic outlook and ample supply. As well as Greece...

Li says China can reach 7% GDP growth goal

2015-07-02 CHINA can achieve its economic growth target of around seven per cent in 2015 despite a slowdown since the beginning of the year, Chinese Premier Li Keqiang said on Wednesday.“Through our hard work, we have the ability and confidence to achieve our...

Wednesday, 1 July 2015

Turkey ‘ready to help’ Greece out of crisis

2015-07-01 TURKEY yesterday said it was “ready to help” Greece out of its escalating financial crisis as its embattled neighbour edged closer to default. “We are ready to help Greece survive its economic crisis with cooperation in tourism, energy, trade,”...

EU in last-ditch bid to Greece, urges ‘yes’ vote to bailout deal

2015-07-01     THE head of the European Commission made a last-minute offer to try to persuade Greek Prime Minister Alexis Tsipras to accept a bailout deal he has rejected before a referendum on Sunday which EU partners say will be a choice of whether to...

Gold prices slip as Greek crisis knocks euro

2015-07-01 GOLD prices fell yesterday as the prospect that Greece will default on a repayment to the International Monetary Fund knocked the euro, and as investors remained wary over the metal’s longer-term prospects.Greece is just hours away from defaulting...

Tuesday, 30 June 2015

Oil prices retreat on Greece crisis

2015-06-30 OIL prices dropped yesterday, tracking a sell-off in global equity markets and the euro caused by fears of a Greek debt default, analysts said.US benchmark West Texas Intermediate for August delivery slid $1.40 to US$58.23 compared with Friday's...

Spanish, Italian government borrowing costs jump as Grexit fears spread

2015-06-30 GOVERNMENT borrowing costs in Europe's indebted southern countries shot up on Monday as inves-tors began to worry that a vote in Greece could see it become the first country to leave the euro currency bloc.In glimpses of the contagion that roiled...

Greece in shock as banks shut after snap referendum call

2015-06-30 GREEKS struggled to adjust to shuttered banks, closed cash machines and a climate of rumours and conspiracy theories yesterday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.Prime Minister Alexis...

Monday, 29 June 2015

Smaller German firms see US trade deal as threat

2015-06-29 MARTINA Roemmelt-Fella, who owns a small, family-run turbine manufacturer in Bavaria, should be a cheerleader for a trade deal between Europe and the United States that promises to ease the flow of goods and services across the Atlantic.But instead...

Oil prices rise awaiting Greece, Iran outcomes

2015-06-29 OIL prices rose over the week despite the crude market facing pressure from high supplies, as traders awaited deals over Greece’s bailout and Iran’s nuclear programme.The weekly US industry report showed domestic output still high and commercial...

Chinese premier’s visit to strengthen China-EU ties

2015-06-29 CHINESE Premier Li Keqiang’s visit to Brussels and attendance at the China-EU leaders’ meeting are expected to strengthen ties between China and the European Union (EU).From June 28 to July 2, Li will first visit Belgium and attend the 17th China-...

Greece calls emergency financial council meet

2015-06-29 THE Greek government said Sunday it had called an emergency gathering of its systemic stability council, as speculation mounted of capital controls being imposed and increasing signs of a bank run.“At 1600 local time (1300 GMT) the Council of...

Saturday, 27 June 2015

Oil prices dip before Greece, Iran deadlines

2015-06-27 OIL prices fell slightly yesterday as traders awaited the outcome of talks over Greece’s bailout and Iran’s nuclear programme.US benchmark West Texas Intermediate for delivery in August slipped 22 cents to US $59.48 a barrel compared with Thursday’...

New bailout offer to Greece

2015-06-27 GREECE’S international creditors yesterday offered Athens a five-month, 12-billion-euro (US$13.4-billion) extension of its bailout programme but said it must seal a deal this weekend to avoid an IMF default next week.Angela Merkel and Francois...

Friday, 26 June 2015

Greece and creditors fail to reach deal

2015-06-26 GREEK Prime Minister Alexis Tsipras and his country’s creditors failed to reach a bailout deal at emergency talks on Thursday, raising fresh fears that Athens will default on an IMF loan next week.The differences remain so great despite two days of...

US consumer spending up

2015-06-26 US CONSUMER spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was gathering momentum in the second quarter.While other data on...

Thursday, 25 June 2015

US economy contracts mildly in Q1, but growth rebounding

2015-06-25 THE US economy contracted in the first quarter but less than previously estimated as it struggled with bad weather, a strong dollar, spending cuts in the energy sector and disruptions at West Coast ports. However, growth has since rebounded in the...

France, Saudi Arabia to sign contracts worth US$12b

2015-06-25 FRANCE and Saudi Arabia plan to sign US$12 billion of deals on Wednesday, French Foreign Minister Laurent Fabius told reporters during a visit by Deputy Crown Prince Mohammed bin Salman in deals highlighting Paris’ growing commercial ties in the...

Hopes dim for Greece deal

2015-06-25 GREEK Prime Minister Alexis Tsipras lashed out at his country’s creditors ahead of critical talks on Wednesday, denting hopes of a final debt deal to prevent Athens from defaulting and leaving the euro. The leftist leader flew to Brussels for a...

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