Business » World

Friday, 19 February 2016

Apple Pay launched in China

2016-02-19 APPLE yesterday launched its mobile payments service Apple Pay in China, pitting the US technology giant against strong domestic players in an already crowded field. The world’s second-largest economy is a crucial market for the California-based...

Nestle misses sales forecast

2016-02-19 FOOD group Nestle missed forecasts with a 4.2 per cent rise in annual underlying sales and predicted a similar outcome this year, saying it was getting harder to raise prices in a tough economic backdrop.Like rivals, Nestle has had to deal with...

OECD cuts 2016 GDP forecast to 3%

2016-02-19 THE OECD yesterday cut its 2016 economic growth forecast to 3.0 per cent from 3.3 per cent owing to disappointing data, sluggish demand, weak investment and a high risk of financial instability.“Financial instability risks are substantial,” the 34-...

‘Parmesan bonds’ replace bank loans in Italy

2016-02-19 WHEN Parmesan prices proved too volatile for Italy’s strained banks a dairy cooperative near Bologna came up with a novel solution to its funding needs, bonds backed by wheels of cheese.But 4 Madonne Caseificio dell’Emilia remains an exception...

IN-BRIEF

2016-02-19 VietJet signs deal with Pratt & WhitneySINGAPORE: Vietnamese budget carrier VietJet Air yesterday signed a US$3.04 billion deal with US engine maker Pratt & Whitney, underscoring the growth potential of Southeast Asia’s low-cost airline...

Iran sees oil freeze pact as not enough to help market

2016-02-19 IRAN believes a global agreement to freeze oil output will not be enough to help prop up prices as the world is producing too much crude, Iranian oil sources told Reuters.Iranian Oil Minister Bijan Zanganeh and his counterparts from Qatar, Iraq and...

Oil extends rally to US$35 after Iran welcomes output freeze

2016-02-19 OIL rose to US$35 a barrel yesterday after Iran welcomed plans by Russia and Saudi Arabia to freeze output and an industry report showed a surprise drop in US inventories.The gain added to a more than seven per cent surge in the previous session,...

Thursday, 18 February 2016

Iran signals tough stance in oil producers’ talks

2016-02-18 IRAN signalled on Wednesday that it would take a tough line in talks among oil producers on restraining production, saying it would continue increasing its output until it reached levels seen before international sanctions were imposed. “Asking...

IN-BRIEF

2016-02-18 IMF lowers Philippines growth forecasts MANILA: The International Monetary Fund lowered its growth forecast for the Philippines for this year and next, but still expects the country to remain one of the fastest growing economies in the region. The...

Airbus, Boeing win billion-dollar deals

2016-02-18 AIRBUS and Boeing announced billion-dollar deals at Asia’s largest airshow in Singapore on Wednesday, underscoring the region’s role as a driver of industry growth despite greater caution among plane buyers.Europe’s Airbus said it had won an US$1....

US industrial production rebounds in January

2016-02-18 US INDUSTRIAL production rebounded in January from a three-month slowdown as cold winter weather pushed up utility demand, the Federal Reserve reported yesterday.Total industrial output rose 0.9 per cent in January, after falling 0.7 per cent in...

Wednesday, 17 February 2016

Danger signs for global economy

2016-02-17 EIGHT years after the financial crisis, the world is coming to grips with an unpleasant realisation: serious weaknesses still plague the global economy, and emergency help may not be on the way.Sinking stock prices, flat inflation, and the bizarre...

High risk of bankruptcy for one-third of oil firms: Deloitte

2016-02-17   ROUGHLY a third of oil producers are at high risk of slipping into bankruptcy this year as low commodity prices crimp their access to cash and ability to cut debt, according to a study by Deloitte, the auditing and consulting firm. The report,...

Saudi, Russia agree on oil output freeze

2016-02-17 TOP oil exporters Russia and Saudi Arabia agreed yesterday to freeze output levels but said the deal was contingent on other producers joining in – a major sticking point with Iran absent from the talks and determined to raise production.The Saudi...

Tuesday, 16 February 2016

Obama, SE Asia leaders eye China and trade at summit

2016-02-16   US PRESIDENT Barack Obama will press leaders from Southeast Asia to boost trade and back common goals for the South China Sea during a summit this week that the White House hopes will solidify US influence in the region. Obama will also discuss...

Shell CEO expects Brazil output to quadruple

2016-02-16 ROYAL Dutch Shell, Europe’s largest oil company, expects to make robust investments in Brazil’s offshore, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday.CEO Ben Van Beurden spoke in...

Shell pursues transition plan after US$53b deal

2016-02-16 ROYAL Dutch Shell on Monday sealed the US$53 billion acquisition of British rival BG Group to form the world’s top liquefied natural gas company, even as slumping oil prices cast a shadow on the upcoming years of transition.The success or otherwise...

Oil extends rally on prospects OPEC could act to counter low prices

2016-02-16 OIL prices rose on Monday, extending a rally triggered last week by speculation that OPEC might agree to cut production to reduce a supply glut that has pushed prices to the lowest in over a decade.Brent crude futures, the global benchmark, were...

Monday, 15 February 2016

Iran offers mining riches, but investors cautious

2016-02-15   IRAN’S rich deposits of zinc, copper, gold and other minerals are tempting international investors after the lifting of Western sanctions, but development of the sector will take time and problems will have to be overcome. A slump in metals...

Africa’s big cities offer investors hope in hard times

2016-02-15 AFRICA’S biggest economies have been hammered by the collapse in commodity prices over the past 18 months but there are still investment bright spots to be found.In cities such as Lagos, Nairobi, Accra, Kinshasa and Johannesburg, growth remains...

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