Friday, 20 May 2016

In Brief

2016-05-20 Fitbit may soon double up as mobile walletsBENGALURU: Fitbit users could soon make payments with a flick of the wrist, as the maker of the simple yet hugely popular fitness bands races to pack in more features in its products. Fitbit Inc said on...

Germany sees debt relief for Greece only in 2018

2016-05-20 THE German government believes Greece should be granted debt relief only in 2018 after it has fully complied with its EU bailout, according to a finance ministry document seen by AFP Thursday.Athens is battling to obtain debt relief from its EU...

ECB: Stimulus working, grounds for optimism

2016-05-20 EUROPEAN Central Bank officials saw “grounds for cautious optimism about the economy” at their last meeting as the bank’s stimulus measures take hold across the 19 countries that use the euro as their currency. A summary of the bank’s April 21...

Fewer people sought US jobless benefits last week

2016-05-20 THE number of people seeking US jobless aid fell sharply last week, partially reversing two weeks of big gains that had raised concerns about rising layoffs.Weekly applications for unemployment aid dropped 16,000 to 278,000, the Labour Department...

Thursday, 19 May 2016

Oil prices ease despite supply disruptions

2016-05-19 BRENT crude prices eased yesterday, after hitting 2016 highs in the previous session, as the impact of unplanned supply disruptions in Nigeria and Canada was tempered by rising supplies elsewhere.International Brent crude futures were trading at US...

In Brief

2016-05-19 Germany presses Airbus to resolve A400M problemsBERLIN: The German government yesterday urgently pressed European airplane manufacturer Airbus to come up with a precise plan for resolving the problems that have repeatedly set back delivery of its...

Biggest pink diamond sells for record US$31m

2016-05-19 A 15.38-CARAT vivid pink diamond (pic), the biggest of its kind to go on auction, was sold for a new record total of US$31.56 million, Sotheby’s auction house said Tuesday.Two telephone bidders battled for the prized jewel before some 150 people...

Nokia to make mobile comeback

2016-05-19   NOKIA, once the world’s top mobile phone maker, yesterday announced its return to the fiercely competitive handsets and tablets market years after being crushed there by Samsung and Apple. Nokia, which is now a leading telecom equipment maker,...

Wednesday, 18 May 2016

Warren Buffett’s Berkshire takes US$1b bite of Apple

2016-05-18 WARREN Buffett’s (pic) Berkshire Hathaway Inc revealed a more than US$1 billion stake in Apple Inc in a rare foray into the technology sector, which Buffett has largely shunned apart from a poorly performing investment in IBM. Shares of Apple rose...

Oil price near six-month high as amid supply outages

2016-05-18 OIL traded at around US$49 a barrel yesterday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut. Prices eased from the highs after Libyan factions agreed in...

Tuesday, 17 May 2016

France’s Total launches huge gas plant in Britain

2016-05-17 TOTAL officially launched yesterday a huge new gas project in Britain’s remote Shetland Islands, hailed by London as a “vote of confidence” in the flagging North Sea oil and gas industry. The French energy giant officially opened the Shetland Gas...

Chinese pouring billions into US real estate

2016-05-17 CHINESE nationals became the largest foreign buyers of US homes last year as they pour billions into American real estate, seeking safe offshore assets, according to a new study Sunday. A huge surge in Chinese buying of both residential and...

Monday, 16 May 2016

Nigeria’s central bank denies report of planned devaluation

2016-05-16 NIGERIA’S central bank denied on Saturday a website report that the West African nation planned to devalue the naira currency. Speculation of a devaluation has been rife since Vice President Yemi Osinbajo said on Wednesday the central bank needed...

Greece will return to bond markets next year: PM

2016-05-16 PRIME Minister Alexis Tsipras said Saturday that Greece will return to the bond markets in 2017, seven years after losing access to the markets due to its debt crisis. “We will return to the markets in 2017,” Tsipras said in an interview with the...

Moody’s cuts Saudi Arabia, Oman, Bahrain debt ratings

2016-05-16 MOODY’S Investors Service cut its debt ratings for Saudi Arabia, Oman and Bahrain on Saturday while assigning negative outlooks to three neighbouring states, as low oil prices continue to undermine government finances in the region. The rating...

BoE’s Carney denies overstepping mark with Brexit warning

2016-05-16 BANK of England Governor Mark Carney denied yesterday that he had compromised the central bank’s independence by warning of the short-run costs of leaving the European Union, after criticism from “Out” campaigners. Last week the BoE said Britain...

Saturday, 14 May 2016

US retail sales rise strongly

2016-05-14 US RETAIL sales in April recorded their biggest increase in a year as Americans stepped up purchases of automobiles and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the first quarter.The jump...

OPEC says oil glut ‘may ease’ by 2017

2016-05-14 OPEC said yesterday a global crude glut that has squeezed the market and sent prices plunging over the past year “may be easing” as a result of countries outside the oil producing cartel dropping their production.“There have been consistent signs...

Friday, 13 May 2016

US crude hits six-month high on tight supply

2016-05-13 US OIL prices hit a six-month high yesterday, supported by data from the International Energy Agency (IEA) showing tightening supply, in addition to a surprise drop in US crude inventories. West Texas Intermediate (WTI) US crude futures were 58...

Bank of England warns vs Brexit

2016-05-13 THE Bank of England warned yesterday of big risks to Britain’s economy should voters opt in a June referendum to leave the European Union - a stark assessment from an institution known for being independent of political campaigns. Members of the...