World Economy

Target Corp. is cutting several thousand jobs as part of a plan to eliminate $2 billion in costs over the next two years.

The goal: to make the Minneapolis-based discounter more agile to…

Eight of the biggest US technology companies added a combined $69 billion to their stockpiled offshore profits over the past year, even as some corporations in other industries felt pressure to…

Bulldozers push earth and dredgers spit mud round the clock at Egypt’s Suez Canal in a race to quickly expand the strategic waterway for two-way traffic, a project trumpeted by President Abdel-…

Reserve Bank of India Governor Raghuram Rajan cut interest rates in an unscheduled move days after the government agreed for the first time to give the central bank a legal mandate to target…

Polish exports declined by 2% in January year-on-year reaching €12.49b ($13.90b), according to the Export Credit Insurance Corporation (KUKE). In month-on-month terms, however, exports of goods…

Russia’s Reserve Fund, one of the country’s two sovereign wealth funds, dropped last month the most in more than four years as the government unsealed it to cover a widening budget deficit.

The Volkswagen Passat has been named European Car of the Year 2015 on the eve of the annual Geneva Motor Show, Euronews reported. The Passat beat off competition from six…

Hedge funds are failing to live up to their investors’ expectations. A survey from Deutsche Bank’s Global Prime Finance unit, published on Tuesday, showed two-thirds of responding investors said…

The (P)GCC will see a real GDP growth of 2.8 percent in 2015, slowing from 4 percent in 2014 on account of flattish hydrocarbon production and softer non-hydrocarbon sector activity, a report said…

Spanish Economy Minister Luis de Guindos said European Union officials are estimating that a hypothetical third bailout for Greece could amount to between 30 and 50 billion euros ($34-55 billion…

German Chancellor Angela Merkel has expressed support for a new investment program to restart growth in Europe, but said it must be accompanied by more structural reforms and free trade accords…

Most investors are probably steering clear of the global energy sector these days—nearly every country has seen their oil and gas sectors fall — but there has been one unlikely bright spot among…

Global stock markets were lackluster Tuesday despite a milestone for the Nasdaq as investors looked ahead to the release of China’s growth target.

Finance Minister Arun Jaitley, who is on a private two-day visit to New York, has said that the Indian economy needs to reach an annual growth rate of nine to ten percent, and then sustain that…

A total of 24 companies were given the green light to make initial public offerings (IPO) on China’s equity market, Asia First reported. China Securities Regulatory Commission (CSRC) approved the…

Barclays Plc’s full-year profit jumped 12%, beating analysts’ estimates, as it set aside an extra 750m pounds ($1.2b) for the settlement of a global probe into the manipulation of currency markets…

Australia’s government ordered a company owned by China’s Evergrande Real Estate Group Ltd. to sell a A$39 million ($31 million) Sydney mansion as it cracks down on illegal home-buying by…

Bill Gates has been declared the richest man in the world for the 16th time by Forbes magazine’s annual ranking of global billionaires. The Microsoft founder once again beat Mexican businessman…

Germany and its neighbor Austria have full employment with unemployment rates below 5% and the smaller country has had one of Europe’s lowest unemployment rates for a half century. Meanwhile a…

Turkish consumer price inflation accelerated more than estimated in February as food prices surged.

Hewlett-Packard Co said it would buy Wi-Fi network gear maker Aruba Networks Inc for about $2.7b, the biggest deal for the world’s No. 2 PC maker, Reuters reported. The purchase would help HP…

Hong Kong’s retail sales by value fell 14.6% in January from a year earlier, partly distorted by the different timing of Lunar New Year, which fell in mid-February this year and in late January…

Turkey is working to complete the requirements for European Union membership, said the country's EU minister on Monday.

"Although there is a political blockade on chapter 11 - Agriculture…

Egypt expects to attract $8b of foreign direct investment in the current fiscal year through June, up from $4b last year, Investment Minister Ashraf Salman said, Amwal al Ghad reported. Salman,…

The government of Japan has approved a $3 million grant to Afghanistan for a project which will improve the country’s main north-south road corridor transport route, Wadsam reported.