Business » World

Monday, 1 December 2014

Kuwait urges non-OPEC cooperation to stabilise market

2014-12-01 KUWAIT Oil Minister Ali al-Omair on Saturday urged non-OPEC crude producers to cooperate to help stabilise the oil market and prevent sharp fluctuations in prices, official KUNA news agency said.The minister called on producers from outside OPEC to...

Swiss reject plan for massive gold-buying

2014-12-01 VOTERS in Switzerland on Sunday overwhelmingly rejected plans to protect the country’s wealth by investing in gold and to drastically limit immigration or to eliminate a special tax that draws rich foreigners, according to polling firm gfs.bern.A...

Oil plunge both threat and boon to global economies

2014-12-01 A RENEWED plunge in oil prices is a worrying sign of weakness in the global economy that could shake governments dependent on oil revenues. Yet it is also a bonus for consumers as prices fall at the pump, giving individuals more spending money and...

Friday, 28 November 2014

OPEC begins pivotal meet as oil prices hit new lows

2014-11-28 OPEC ministers met Thursday to decide whether to slash oil production amid a glut in global supplies, sending crude prices to new lows ahead of their pivotal vote.The 12-nation oil cartel is under pressure from its poorer members like Venezuela and...

‘Wage cuts can help the euro’

2014-11-28 EUROPEAN Central Bank chief Mario Draghi on Thursday called for an “adjustment of wages” in the eurozone to strengthen the viability of the single currency.“All euro area countries need to be able to thrive independently,” Draghi said in a speech...

Thursday, 27 November 2014

Visa sued over breach of competitive card practices

2014-11-27 DISCOVER Financial Services Inc sued Visa Inc on Tuesday, alleging the world’s largest cards company has been using anti-competetive practices in its debit card business, and sought compensation for lost profit, court documents showed.Discover,...

Huaneng sets up China’s first carbon fund

2014-11-27 Huaneng sets up China’s first carbon fundBEIJING: State-owned power generator Huaneng yesterday set up China’s first carbon fund, which will focus on trading carbon permits in the emissions trading scheme in Hubei province. The establishment of the...

European Union proposes US$380b investment plan

2014-11-27 THE European Union’s executive is proposing a 315-billion euro (US$380 billion) investment plan to boost the bloc’s flagging economy, a scheme whose success will depend on leveraging 21 billion euros in guarantees and seed money to attract private...

OPEC looks for help to tackle oil supply glut

2014-11-27 OPEC needs non-cartel members to help address an oil supply glut that is set to grow next year, Iran’s oil minister said here yesterday.“All the experts in the markets believe that we have an oversupply on the market and next year we will have more...

More investment in India: Alibaba

2014-11-27 ALIBABA founder Jack Ma, China’s wealthiest man, said yesterday he plans to invest more funds in India and believes the Internet can transform the country’s future.Ma, whose Alibaba controls 80 per cent of e-commerce in China, was speaking to a...

India’s state-owned bank to launch Islamic fund

2014-11-27 INDIA’S largest state-owned bank will launch an Islamic equity fund next month aimed mainly at attracting investments from the country’s 170 million Muslims.The Securities and Exchange Board of India, the country’s banking regulator, recently...

Wednesday, 26 November 2014

Dubai cuts profile as Middle East’s plastic surgery hub

2014-11-26 DUBAI, the emirate known for its celebration of over-the-top glamour and luxury, is racing ahead to dominate the Middle East’s plastic surgery market with plans to attract half a million medical tourists in six years.Where cosmopolitan Beirut was...

Singapore’s GIC to invest in Indonesia property

2014-11-26 Singapore’s GIC to invest in Indonesia propertySINGAPORE: Singapore’s sovereign wealth fund GIC and Indonesia’s Rajawali Group have agreed to jointly invest up to US$500 million ($650.85 million) in equity in property projects in Indonesia, the two...

US closes Ford steering probe without recall

2014-11-26 US safety regulators have closed an investigation into steering problems in more than 500,000 Ford full-size cars without seeking a recall.The US National Highway Traffic Safety Administration began investigating problems in the 2004 through 2007...

Global business confidence down to five-year low: survey

2014-11-26 GLOBAL business confidence dropped to a five-year low in October, marking a sharp fall in optimism, the Markit Global Business Outlook Survey showed on Monday.Hiring and investment plans were also at or near post-financial crisis lows, while price...

Saudi sights set on US shale biz

2014-11-26 OPEC’s biggest crude producer Saudi Arabia will have its sights set on the upstart US shale oil business at a crucial cartel meeting to debate possible output cuts on Thursday.Analysts say the kingdom is content to see shale oil producers – and...

Tuesday, 25 November 2014

German business confidence stabilising in November

2014-11-25 BUSINESS confidence in Germany appears to be stabilising after long months of decline, with the Ifo business climate index rising in November for the first time in seven months, data showed on Monday.In an encouraging sign for Europe’s biggest...

Russia loses US$40b from sanctions but damage ‘not fatal’, says Putin

2014-11-25 RUSSIA is losing around US$40 billion (32 billion euros) per year due to Western sanctions over the Ukraine conflict, its finance minister said Monday although President Vladimir Putin dismissed the economic damage as “not fatal”.“We are losing...

BT in talks to buy UK mobile operator

2014-11-25 BRITAIN’S BT Group is in early stage talks with Spain’s Telefonica on a deal to buy UK mobile operator O2, with two sources saying it has also begun negotiations with EE as it seeks a return to the British consumer mobile market.Both Telefonica...

Bank of England mulls tougher capital rules

2014-11-25 Bank of England mulls tougher capital rulesLONDON: Financial institutions which settle trillions of dollars of derivative contracts a day may need to hold more capital to stop them requiring a government bailout if they fail, a senior bank of...

Pages