Business » World

Wednesday, 13 August 2014

‘Naked PCs’ weigh on Microsoft’s China sales

2014-08-13 ON A trip to Beijing a decade ago, Bill Gates was asked by a senior government official how much money Microsoft Corp made in China. The official asked the interpreter to double check Gates’ reply as he couldn’t believe the figure was so low.It’s a...

In Brief

2014-08-13 Ex-PM Mahathir criticises Malaysia Airlines takeoverKUALA: Former prime minister Mahathir Mohamad on Tuesday criticised the takeover of crisis-hit Malaysia Airlines by the country’s sovereign wealth fund as a recipe for more losses by the carrier....

Deutsche Bank CEO faces attempted fraud charge

2014-08-13 GERMAN prosecutors are seeking charges against Deutsche Bank co-CEO Juergen Fitschen (pictured) and several former executives at the bank in connection with the long-running Kirch bankruptcy case, legal sources said on Tuesday.The decision to...

Tuesday, 12 August 2014

ASEAN Norway tie-up tp be ‘action oriented’

2014-08-12 THE recently-launched Asean-Norway Partnership aims to be action-oriented, mutually-beneficial and forward-looking. In a joint statement issued in Nay Pyi Taw, Myanmar, ASEAN and Norway said the partnership would include political and security,...

EU seeks new marts to limit impact of Russia import ban

2014-08-12   EUROPEAN Union regulators on Monday began analysing product-by-product the impact of a Russian ban on EU food imports announced in retaliation for Western sanctions over Moscow’s actions in Ukraine. But they said it was too soon to decide how...

In Brief

2014-08-12 Luxembourg plans road show for first sukuk issueDUBAI: Luxembourg has appointed HSBC and BNP Paribas as co-lead arrangers of its first issue of sovereign Islamic bonds, and is organising a roadshow for investors at end September, the country’s...

Frequent flyer programmes eyed to drive airline profits

2014-08-12 BESET by low air fares and relentless competition, airlines around the world are waking up to the value of their frequent flyer programmes and realising they can boost profits as well as brand profile.A multitude of global carriers – preserved by...

FoodPanda secures US$60m funding

2014-08-12 FOODPANDA, an online food delivery company active in dozens of emerging markets, said it had raised US$60 million in new financing from a group of investors including existing backer Rocket Internet AG.Foodpanda, one of a stable of ecommerce and...

Monday, 11 August 2014

Traders brace for research crackdown

2014-08-11 REGULATORY pressure to undo the traditional way brokers sell research alongside share dealing is alarming traders in Europe, who fear a further drop in business and more cost-cutting in an already tough environment.At stake is the lucrative but...

China State Grid builds Mediterranean power network

2014-08-11 THE European Commission has long wanted the continent’s power grids to work in unison for reasons of efficiency and supply security, so far to little avail, but a regional power network could soon be a reality, courtesy of State Grid Corporation of...

Spaniards seek seaweed riches

2014-08-11 THREE young Spaniards in wetsuits plunge into the sea to harvest a culinary delicacy that promises them a way out of troubled financial waters: seaweed. Armed with stainless steel scythes, they swim in low tide from rock to rock cutting down...

Saturday, 9 August 2014

OPEC trims 2014 oil demand forecast

2014-08-09 OPEC trimmed its 2014 global oil demand growth forecast for a second consecutive month and said the group managed to increase output in July despite violence in Iraq and Libya, pointing to more comfortable global supplies.In a monthly report on...

In Brief

2014-08-09 ‘TPP to pose challenges to Vietnamese timber sector’HO CHI MINH: The Trans-Pacific Partnership Agreement (TPP) is expected to bring opportunities for exports in many of Vietnam’s sectors, but it is likely to pose big challenges for it’s timber...

WTO rules vs Beijing’s rare earths export limits

2014-08-09 THE World Trade Organization on Thursday upheld its ruling that China had violated global trade rules by restricting exports of rare earths, used in hi-tech goods like mobile phones and televisions. Beijing had appealed a decision by a WTO panel...

Friday, 8 August 2014

In Brief

2014-08-08 Russian bans ‘to have no impact on grain exports’MOSCOW: Russian bans on various food imports from the United States and the European Union will have no impact on the country’s massive grains exports, agriculture minister Nikolai Fyodorov said on...

Thursday, 7 August 2014

Stanchart back in regulators’ crosshairs for high-risk deals

2014-08-07 STANDARD Chartered PLC is back in the crosshairs of New York’s banking regulator over alleged failure to flag high risk transactions for further review, according to a person familiar with the matter.The British bank is in discussions with the New...

In Brief

2014-08-07 Alternatives to get 40% of sales by 2020:McKinseyNEW YORK: Hedge funds, private equity funds and other alternative investments will command up to 40 per cent of the asset management industry’s global revenues by 2020 as investors seek them for...

Russian lenders in eurozone face curbs

2014-08-07 MAJOR Russian banks active in the eurozone could face caps or even exclusion from borrowing from the European Central Bank as it examines how European sanctions against Moscow affect its operations. Eurozone banks use the ECB to manage their day-...

US trade gap hits 5-month low on oil import drop

2014-08-07 THE US trade deficit narrowed more than expected in June as petroleum imports dropped to a 3-1/2 year low, suggesting that trade was less of a drag on second-quarter economic growth than initially thought.The Commerce Department said on Wednesday...

Tod’s moves on from shoes to clothes

2014-08-07 ITALIAN designer label Tod’s is edging away from its comfortable driving shoes, ballerina flats and platform sandals in an attempt to diversify its business and revive flagging sales.The company hired former Gucci designer Alessandra Facchinetti...

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