Business » World

Tuesday, 23 December 2014

Airbus to deliver first A350 to Qatar Airways

2014-12-23 AIRBUS was due to deliver its first next-generation A350-900 plane to Qatar Airways Monday, more than a week after the airline suspended the high-profile handover for unknown reasons.The Doha-based company, owned by the energy-rich Gulf state, has...

Saudi ready to raise oil output for emerging new clients

2014-12-23 SAUDI Arabia is prepared to increase its oil output and claim a bigger market share to meet the demands of any new customers, Monday’s edition of the Saudi-owned al-Hayat newspaper quoted the kingdom’s oil minister as saying.Asked if Saudi Arabia...

Monday, 22 December 2014

Worst still to come for Russia’s economy

2014-12-22 DEEP recession, skyrocketing prices and a fragile banking system: although the ruble seems to have stabilised after its abysmal drop this past week, Russia still faces the heavy consequences of the turbulence.For most Russians, the week ended with...

Holiday season ripe for online retailers

2014-12-22 AS holiday season nears, more shoppers across Asia are sending their yuan, yen, won or ringgit across borders, often choosing to buy their presents abroad through websites, rather than paying expensive surcharges or taxes in their home markets...

Wall Street has eyes on Uber, Airbnb

2014-12-22 WALL Street in 2014 enjoyed its best year for initial public offerings since 2000, thanks to the record-setting flotation of Chinese Internet giant Alibaba and a barrage of biotech deals. Activity was “uninterrupted” and proved largely immune to...

British upstart banks get IT boost to take on big rivals

2014-12-22 WHEN Metro Bank prepared to launch in 2010 as the first new bank to appear on British high streets for over a century, its founders broke with convention by outsourcing the construction of its computer systems.Until then, British banks had built...

Dubai real estate market to ride out cheap oil

2014-12-22 THE plunge in oil prices may take more of the froth off Dubai’s booming real estate market, but broad-based demand for property is likely to prevent any crash.As the global financial crisis slashed oil and equity prices in 2008, Dubai’s real estate...

Gulf producers blame oil price on ‘irresponsible’ output

2014-12-22 OIL-RICH Arab Gulf countries on Sunday blamed “irresponsible” non-OPEC producers for a plunge in global crude prices, but voiced confidence that markets would rebound.World prices have fallen almost 50 per cent since June, mainly due to a supply...

Saturday, 20 December 2014

Nigeria toughens currency trading curbs to halt naira fall

2014-12-20 NIGERIA’S central bank yesterday announced new measures to curb currency speculation as part of an effort to defend the naira which has been hit hard by the collapse in global oil prices.The move comes after a currency devaluation and a cut in the...

Friday, 19 December 2014

Russians flock to stores to pre-empt price rises

2014-12-19 RUSSIAN consumers flocked to the stores Wednesday, frantically buying a range of big-ticket items to pre-empt the price rises kicked off by the staggering fall in the value of the ruble in recent days.As the Russian authorities announced a series...

European Union bans investment in Crimea

2014-12-19 THE European Union banned investment in Crimea yesterday, halting European help for Russian Black Sea oil and gas exploration and outlawing European cruise ships from calling at Crimean ports.The new measures, which EU governments have signed off...

Brent oil jumps 3 per cent to US$63

2014-12-19     BRENT crude jumped 3 per cent to above US$63 a barrel yesterday, extending a rebound from five-year lows this week as oil’s six-month price rout forced more energy firms to cut investments in new production. Oil this week slumped as low as...

Switzerland central bank introduces negative interest rate

2014-12-19 SWITZERLAND’S central bank yesterday announced it was introducing negative interest rates, in a bid to stop the Swiss franc – a safe haven currency – from gaining further value.The Swiss National Bank is imposing a rate of -0.25 per cent on certain...

BlackBerry launches new Classic smartphone in last-ditch effort

2014-12-19 BLACKBERRY Ltd launched its long-awaited Classic on Wednesday, a smartphone it hopes will help it win back market share and woo those still using older versions of its physical keyboard devices.The Canadian mobile technology company said the new...

Thursday, 18 December 2014

SpiceJet grounds fleet after running out of fuel

2014-12-18 TROUBLED Indian airline SpiceJet grounded its fleet yesterday after suppliers refused to refuel its planes due to unpaid bills, company officials said.The no-frills airline, one of India’s leading carriers, has a fleet of 37. The action left...

Philippine Q4 growth will likely be better than Q3

2014-12-18 Philippine Q4 growth will likely be better than Q3MANILA: Philippine economic growth in the last three months of the year will likely be better than the third quarter, Socieconomic Planning Chief Arsenio Balisacan said yesterday, citing positive...

Australia’s Woodside invests in LNG projects, delays Browse decision

2014-12-18     SHARES in Woodside Petroleum jumped yesterday following the Australian energy producer’s decision to pay US$2.75 billion to acquire stakes in liquefied natural gas projects from US firm Apache. The deal came as Woodside delayed a decision...

British supermarket price wars rage before holidays

2014-12-18 BRITISH supermarkets are slashing prices ahead of Christmas, spurred by competition from German-owned discounters, benefitting customers of all tastes.Sales events dubbed “Black Friday“, “Cyber Monday” and “Manic Monday” – imported from the United...

Wednesday, 17 December 2014

World set to end year in brittle economic state

2014-12-17 THE global economy is ending the year in a fragile state with factory activity shrinking in China, eurozone business growth remaining weak, and emerging market giant Russia in a spiralling currency crisis.“These are uncertain times again and there...

Plunging oil ‘to spark more global tensions’ in 2015

2014-12-17 THE oil market faces an uncertain outlook in 2015 as tumbling prices resulting from global oversupply stoke geopolitical tensions in key producers of crude, analysts say.Oil prices have lost around half their value since June, punished by abundant...

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