Business » World

Tuesday, 23 June 2015

UAE property market set to decline: S&P

2015-06-23 THE UAE property market is set for a soft correction after three years of sharp rises but a crisis is ruled out, Standard & Poor’s ratings agency said on Monday.A report said additional supply and lesser demand on the United Arab Emirates...

Oil prices rise with focus on Greece, Iran

2015-06-23 OIL prices rose on Monday as dealers focused on crunch Greek debt talks and a possible return of Iranian supplies to the market. US benchmark West Texas Intermediate for July delivery gained 56 cents to US$60.17 a barrel compared with Friday’s...

Monday, 22 June 2015

Greece ready to compromise

2015-06-22 GREECE said it would present new proposals to its EU-IMF creditors to reach a debt deal as the country’s outspoken finance minister called on German Chancellor Angela Merkel to make a “clear decision” at an upcoming emergency summit.European Union...

Qatar vast gas reserves to last 138 years: report

2015-06-22 QATAR’S gas reserves are so vast it can maintain production at current rates for another 138 years, according to an official report published on Sunday.An “Economic Commentary” from the Qatar National Bank (QNB) said the vast reserves of the tiny...

UAE expects strong economic growth

2015-06-22 THE United Arab Emirates expects strong growth this year after its oil-rich economy expanded by 4.6 per cent in 2014, Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said.“We expect to continue to achieve strong growth in 2015,” Sheikh...

Chinese firms pour money into R&D in shift to innovation

2015-06-22 SURGING investment by Chinese companies in US research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world’s factory floor to a driver of innovation.Largely absent from...

Saturday, 20 June 2015

Greece gets temporary lifeline

2015-06-20 GREECE got a financial lifeline for its banks on Friday to help them cope with a deposit drain in the run-up to a summit of eurozone leaders next week that could determine the country’s future in the euro. Uncertainty has grown after a meeting on...

Friday, 19 June 2015

‘Greek deal still possible if Athens shows the will’

2015-06-19 GERMAN Chancellor Angela Merkel said on Thursday a deal between Greece and its creditors was still possible if Athens showed the necessary will, amid mounting pessimism that the austerity-hit country might crash out of the euro zone.Neither side...

McDonald’s to shrink in US, first time in decades

2015-06-19 THE burger chain that put “supersize” into the American vernacular is slimming down: For the first time in more than 40 years, and perhaps ever, McDonald’s says its number of restaurants in the US is shrinking.McDonald’s plans to close more...

Apple’s big profits from Watch band

2015-06-19 NEARLY 20 per cent of Apple Watch buyers are not only shelling out hundreds of dollars for the timepiece but are springing for a spare band too, giving the tech giant a profitable second dip into customers’ wallets, according to data provided...

Oil prices rise on weak dollar, hopes of Greek deal

2015-06-19 OIL prices rose on Thursday as a weaker dollar made fuel cheaper for holders of other currencies, and on hopes of a last-minute breakthrough that could keep Greece in the euro zone and help avoid a shock to European economic growth.The dollar fell...

US consumer prices post largest gain in two years

2015-06-19 US CONSUMER prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting an energy-driven disinflationary trend had probably run its course.Other data on Thursday showed the labour market continued to...

Thursday, 18 June 2015

FedEx swings to quarterly net loss

2015-06-18 PACKAGE delivery company FedEx Corp yesterday posted a fiscal fourth-quarter net loss of US$895 million, weighed by pension costs and a stronger US dollar.It said that the loss, compared with a year-earlier profit of US$780 million, included a non-...

Greek central bank warns of ‘Grexit’

2015-06-18 THE Greek central bank warned yesterday that the country would be put on a “painful course” towards default and exiting the euro zone if the government and its international creditors failed to reach an agreement on an aid-for-reforms deal.It also...

British unemployment steady at 5.5 per cent

2015-06-18 BRITAIN’S unemployment rate remains at a seven-year low of 5.5 per cent and wages have risen by their fastest rate in four years, official data showed yesterday.But with inflation at close to zero, the Bank of England appears to be in no rush to...

Nintendo sees transformation, but won’t forget ‘Mario’

2015-06-18 NINTENDO played to “Super Mario” fans on Tuesday while talking transformation as the Japanese video game giant strived to regain momentum.“If there is a secret to the longevity of Nintendo franchises, it is transformation,” Nintendo of America...

Australia and China sign historic free trade deal

2015-06-18 AUSTRALIA and China signed a landmark trade deal yesterday after a decade of talks, providing a boon for growth and jobs by abolishing tariffs across a raft of sectors.Trade Minister Andrew Robb and visiting Chinese Commerce Minister Gao Hucheng...

Wednesday, 17 June 2015

Greek PM attacks creditors as pressure builds for debt deal

2015-06-17 GREEK Prime Minister Alexis Tsipras yesterday accused international creditors of trying to “humiliate” the country and called on Europe to reconsider its support for harsh IMF reform proposals.“The fixation on cuts...is most likely part of a...

Greek standoff saps European markets

2015-06-17 A TWO-DAY sell-off in European stocks and bonds began to ease yesterday as attention switched from worries that Greece could tumble out of the euro to the start of the US Federal Reserve’s latest interest rate meeting.European shares had hit a near...

US housing starts pause after hefty gains

2015-06-17 US HOUSING starts fell in May after a hefty increase the prior month, but a surge in permits for future construction to a near eight-year high suggested the pullback was temporary and pointed to underlying strength in housing.Groundbreaking dropped...

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