Business / World Business

Chinese Yuan weakens against USD for 8th day 12 Nov 2015 - 09:21 am

Beijing: The central parity rate of the Chinese currency yuan against the U.S. dollar fell for the 8th straight day on Thursday to...

Lufthansa strike grounds another 100,000 passengers 11 Nov 2015 - 06:02 pm

Berlin: Lufthansa scrapped 930 more flights Wednesday, grounding 100,000 passengers, after a court allowed cabin staff to press on with a strike that...

Apple to create 1,000 more jobs in Ireland by 2017 11 Nov 2015 - 05:37 pm

Dublin: US tech giant Apple will create around 1,000 jobs at its European headquarters in Ireland by mid-2017, chief executive Tim Cook announced...

UniCredit to cut 18,200 jobs by 2018 to save 1.6 bn euros 11 Nov 2015 - 05:07 pm

Milan: Italy's top bank UniCredit announced Wednesday it would cut its staff by 18,200 positions within two years to save 1.6 billion euros...

BMW buys Chinese firm to drive car leasing business 11 Nov 2015 - 04:56 pm

Berlin: German auto giant BMW said Wednesday it has acquired Chinese firm Herald Leasing as part of its bid to broaden the business...

Dollar rally fizzles, dealers await China release 11 Nov 2015 - 09:35 am

Hong Kong: The dollar edged down in Asia Wednesday after rallying since last week's US jobs data while Asian equities mostly dipped as...

Pakistan to sign economic zone deal with China: official 11 Nov 2015 - 08:42 am

Quetta, Pakistan: Pakistan's poorest province is set to sign a deal with China Wednesday allotting thousands of acres of land for Beijing to...

Alstom wins 2.8-bln-euro Indian railway contract 10 Nov 2015 - 04:12 pm

New Delhi: French company Alstom has won a contract worth 2.8 billion euros ($3 billion) to supply India's rail operator with electric locomotives,...

Vodafone rings up higher revenue 10 Nov 2015 - 12:54 pm

London: British mobile phone giant Vodafone on Tuesday announced a rise in quarterly revenues, boosting the company's fortunes as its rivals prepare for...

Malaysia Industrial Production Rise in September 10 Nov 2015 - 10:50 am

Kuala Lumpur: The Malaysian Department of Statistics showed that Malaysian manufacturing sales value climbed 5.4 percent yearly to MYR 58.5 billion in September...

Weak Chinese trade, US rate hike fears sink global stocks 10 Nov 2015 - 09:04 am

New York: Another contraction in Chinese trade and rising expectations of a US interest rate hike in December sent most global markets tumbling...

Fitch slashes VW ratings over poor management of pollution fraud 10 Nov 2015 - 12:00 am

Wolfsburg, Germany: Fitch ratings agency on Monday cut Volkswagen's credit rating by two notches, saying that a widening pollution cheating scandal has exposed...

Big banks need extra trillion-euro cushion against future crises: G20 advisory body 09 Nov 2015 - 05:57 pm

Zurich: The world's biggest banks must bolster their cash reserves by up to 1.1 trillion euros ($1.2 trillion) as protection against any future...

Ericsson, Cisco expect sales boost from network alliance 09 Nov 2015 - 04:37 pm

Stockholm: Sweden's telecommunications giant Ericsson and its US rival Cisco on Monday announced a partnership for telecommunication networks which is expected to boost...

India's Jet Airways confirms order for 75 Boeing 737 planes 09 Nov 2015 - 11:56 am

Dubai: India's Jet Airways confirmed on Monday an order for 75 Boeing 737 planes previously listed on the US manufacturer's book as for...

Boeing, Tata to make Apache attack helicopter airframe 09 Nov 2015 - 10:10 am

Dubai: US aerospace group Boeing and India's Tata Advanced Systems announced Monday they are joining up to make airframe parts for the AH-64...

VW engineers admitted rigging CO2 emissions - Bild 09 Nov 2015 - 12:00 am

BERLIN: Several Volkswagen (VOWG_p.DE) engineers have admitted manipulating carbon dioxide emissions data because goals set by former Chief Executive Martin Winterkorn were difficult...