Business / World Business

Defying currency critics, Africa's biggest economy chokes growth 02 Nov 2015 - 11:50 am

LAGOS, Nigeria: Nigeria's economy is growing at the slowest pace this decade as oil prices drop. Companies are complaining they can't get the...

China arrests HK-owned fund executives for futures manipulation: Xinhua 02 Nov 2015 - 11:01 am

Since China's stocks plunged in mid-June, the country has intensified probes into market manipulation Beijing/Shanghai: China has arrested two executives from a Hong...

Turkish lira, stocks soar after AKP win 02 Nov 2015 - 10:48 am

Ankara: The Turkish lira and stocks soared on Monday after President's Recep Tayyip Erdogan's Justice and Development Party (AKP) was returned to power...

HSBC pre-tax profit up 32% at $6.1 bn, revenue down 02 Nov 2015 - 09:14 am

Hong Kong: HSBC saw pre-tax profit surge 32 percent year on year in the third quarter on the back of lower fines the...

Myanmar cronies still pull the strings as economy creaks open 02 Nov 2015 - 08:52 am

Labourers work at a low-cost housing construction site on the outskirts of Yangon AFP Yangon: Hotels, harbours or mines, Myanmar's big-ticket industries are...

As Swedish central bank fights deflation, housing bubble worries mount 01 Nov 2015 - 01:12 pm

Apartments in Stockholm cost around $6,350 per square metre, on a par with London's $6,750. Stockholm: House buyers in Sweden have never had...

China's October factory, services surveys show economy still wobbly 01 Nov 2015 - 09:33 am

An off-shore oil drilling platform is seen under construction at a plant in Qingdao, Shandong province, China, November 1, 2015. Reuters By Xiaoyi...

'Enormous whale' Japan Post to make Tokyo trading debut 01 Nov 2015 - 08:53 am

Tokyo: Japan Post is set to make its long-awaited market debut after the year's biggest share sale, in what some see as a...

Chinese shoe company to buy British toy store Hamleys 31 Oct 2015 - 05:56 pm

Hong Kong: A leading Chinese shoe company said it will buy Britain's iconic toy retailer Hamleys for £100 million ($153 million), as the...

Merkel says Volkswagen must act in transparent manner 31 Oct 2015 - 05:56 pm

BERLIN: The "Made in Germany" brand has not been damaged by the Volkswagen scandal, but the carmaker needs to deal with the matter...

Greek banks face 14.4-bn-euro capital shortfall, says ECB 31 Oct 2015 - 01:10 pm

The European Central Bank on Saturday said four major Greek banks would have a capital shortfall of up to 14.4 billion euros ($15.8...

ECB will do what is needed to keep inflation target on track: Draghi 31 Oct 2015 - 11:13 am

Head of the European Central Bank Mario Draghi Milan: The European Central Bank (ECB) is ready to do whatever it takes to keep...

Bulgaria eyes 2.1% growth in 2016 budget 31 Oct 2015 - 09:19 am

Bulgarian government unveiled its 2016 budget, while also revising its 2015 deficit target of the previous budget. Sofia: The Bulgarian government unveiled Friday...

Oil groups slash costs, but investors spared 31 Oct 2015 - 12:00 am

Paris: Oil titans are slashing costs and investments as a plunge in oil prices batters profits but there is still one area they...

Oil prices rise as US production dips 31 Oct 2015 - 12:00 am

New York: Oil prices in New York rose for the third straight session Friday as US data showed a drop in oil output...

LG mobile business sinks into the red in Q3 30 Oct 2015 - 12:00 am

Seoul: LG Electronics' mobile business dived into the red for the first time in 18 months during the third quarter, pulling down overall...

Sony, Panasonic post big profits as turnaround plans take hold 30 Oct 2015 - 12:00 am

People testing the new Playstation TV consoles. Tokyo: Two of Japan's biggest electronics giants booked soaring profits Thursday in a sign that efforts...

Shell suffers vast Q3 loss after scrapping projects 29 Oct 2015 - 05:10 pm

London: Shell dived into a $7.4-billion third-quarter net loss on huge write-downs after scrapping costly projects in Alaska and Canada, and on falling...