Business / World Business

Volkswagen reaches deal with US vehicle owners 23 Dec 2016 - 08:47 pm

Washington: A federal judge said that Volkswagen AG has reached an agreement in principle to provide “substantial compensation” to the owners of about...

Gold edges higher as dollar retreats 23 Dec 2016 - 08:47 pm

London: Gold edged higher yesterday in thin pre-Christmas trade as the dollar retreated from this week’s 14-year high, tempting some buyers to take...

Mideast crude-benchmarks down as demand thins 23 Dec 2016 - 01:50 am

Singapore: The Middle East crude benchmark Dubai fell on yesterday as demand for February-loading cargoes thinned after refiners had mostly secured their feedstock...

Gold steadies at $131.17 as dollar slips 23 Dec 2016 - 01:50 am

London: Gold steadied yesterday, as the dollar slipped and market participants waited for US economic data due later in the day. The United...

China LNG imports hit record last month 23 Dec 2016 - 01:50 am

Shanghai: China’s liquefied natural gas imports surged to a record last month as the world’s third-biggest buyer boosted shipments to offset winter demand...

Singapore gives toughest sentence to BSI banker 23 Dec 2016 - 01:38 am

Singapore: Yeo Jiawei, a former wealth planner at Swiss bank BSI SA, was given a 30-month jail term, the longest sentence yet handed...

ADB okays $500m loan to Azerbaijan 23 Dec 2016 - 01:22 am

Baku: The Asian Development Bank (ADB) said yesterday it had approved a $500m loan to help Azerbaijan tackle economic and social problems, mitigating...

Brazilian conservationists develop new tool to cut illegal wood from supply chains 22 Dec 2016 - 08:33 am

RIO DE JANEIRO: Companies that want to buy Brazilian timber without contributing to illegal deforestation have a new tool to help them ensure...

Wall Street closes higher on banking, tech gains 21 Dec 2016 - 09:59 am

NEW YORK: Two of Wall Street’s three indexes closed at record highs Tuesday as shares jumped at technology companies and major American investment...

Praxair agrees to buy Linde for $35bn 20 Dec 2016 - 10:03 pm

Frankfurt: German industrial gases maker Linde and its US competitor Praxair yesterday said they had agreed the terms of a proposed $65bn "merger...

Lloyds to acquire BofA’s UK credit card unit for $2.4bn 20 Dec 2016 - 10:02 pm

London: Lloyds Banking Group Plc agreed to buy Bank of America Corp’s MBNA credit-card business in the UK for 1.9bn pounds ($2.4bn) in...

Bank of Japan lifts view of economy as exports rise 20 Dec 2016 - 09:54 pm

Tokyo: The Bank of Japan (BoJ) yesterday lifted its view of the economy for the first time in over a year, as the...

Dollar bounces back towards 14-year highs 20 Dec 2016 - 09:54 pm

London: The dollar rebounded towards 14-year highs yesterday, boosted by upbeat comments from Federal Reserve Chair Janet Yellen that kept alive market expectations...

UK's inflation likely to remain above target 20 Dec 2016 - 09:51 pm

London: The UK inflation will accelerate quickly above the Bank of England’s 2 percent target and could stay there for a prolonged period,...

US fines top executives of Platinum Partners 20 Dec 2016 - 09:51 pm

New York: Top executives of New York-based hedge fund manager Platinum Partners were arrested and charged with running a $1bn fraud that federal...

IMF Executive Board retains 'full confidence' in Lagarde's leadership 20 Dec 2016 - 09:33 pm

Washington: The International Monetary Fund said it retains “full confidence” in Christine Lagarde’s ability to continue to lead the organisation, despite her conviction...

Gold falls on hopes of stronger global economic growth 20 Dec 2016 - 09:33 pm

London: Gold fell yesterday as the dollar rose and investors sold on expectations of stronger global economic growth and higher US interest rates,...

India's golden parachute is failing this precious metal 20 Dec 2016 - 08:31 pm

In times of trouble for gold -- and the yellow metal has slid 11 percent over the past six weeks -- India has...