Gold settled into a relatively tight range around $1,210 an ounce in the first full trading week of the year.
December’s weakness in the precious metal has been reversed so far in 2015,…
World Economy
The international rating agency Fitch has downgraded Russia’s long-term rating from BBB to BBB-, the lowest possible investment grade, and added a negative outlook to the rating.
A press…
Gulf International Bank (GIB) has launched the Middle East’s first online-only consumer banking business, seeking to diversify after almost collapsing during the global financial crisis and to tap…
Inflation in Belarus in December 2014 totaled 0.6% primarily due to rising prices for paid services, BelTA learned from Alexei Yarkovets, Head of the Central Office for Price Statistics of the…
The eurozone’s slide into deflation, recorded in the 0.2 percent decline in prices for the year to December, is another expression of the deep-going breakdown of the global capitalist economy. For…
Citigroup Inc this week cut its bonus pool for fixed-income and equity market traders after market revenues plunged during the last two weeks of the year, according to a person familiar with…
UK manufacturing output rose the most in seven months in November, as total industrial production suffered an unexpected decline due to maintenance at some North Sea oil fields. Factory…
China’s factory-gate prices extended a record stretch of declines, with the sharpest drop in two years in December, suggesting room for further monetary easing. The producer-price index …
Cyprus’ national carrier has ceased operations after an EU decision it must repay over 65m euros ($77m) in illegal state aid.
The EU Commission said the Cypriot government had…
South Korea and four emerging market economies are scheduled to review their monetary policies next week and the eurozone is widely expected to announce more stimulus measures…
Brazil and Russia are set to drop out of the BRICS group by the end of the decade if their economies continue to stall.
Russia has seen its economy battered by falling oil prices …
Switzerland’s inflation rate dropped more than expected to its lowest in more than a year, underscoring the central bank’s rationale for imposing a negative deposit rate.
Copper slid to a four-year low after Chinese factory-gate prices extended a record run of declines, fueling concern economies are slowing down in the biggest consumers of the metal.
The US economy added 252,000 jobs in December, while the unemployment rate fell to 5.6% from 5.8%, according to Labor Department figures.
Brazil announced budget cuts expected to total $8.4 billion a year as it reins in government spending at the start of another year with the economy in the doldrums.
President Dilma Rousseff…
Banco Santander SA, Spain’s largest bank, said it plans to sell shares for as much as 7.5 billion euros ($8.8 billion) and will cut its dividend, reducing the payout it had offered investors…
German exports and production fell in November compared with the previous month.
Exports fell 2.1% compared with October, German’s Federal Statistical Office reported, while imports…
The global clean tech market enjoyed its strongest investment performance in years during 2014, according to new figures showing total clean energy investment jumped 16% to $310b.
The Chinese government will invest $250 billion in Latin American and Caribbean countries over the next 10 years in an attempt to strengthen its presence in a region dominated by the US.
Greenland has transferred a large iron ore license to a Chinese company after now-bankrupt British London Mining was unable to fulfill its 30-year commitment to the multi-billion dollar project,…
Taiwan’s exports rose 2.7% year-on-year to a record high of $313.84b in 2014, helped by booming demand for smartphones and other electronic products, the government said Friday. Electronics…
Millions of coal miners in India have called off a five-day strike on the second day after a lengthy meeting with the government, averting power cuts in the energy-hungry country, AFP reported.
Samsung Electronics on Thursday flagged a further on-year plunge in profits for the fourth quarter, as the world’s top smartphone producer continued to battle stiff competition from Chinese makers…
South African business confidence has fallen to its lowest level in six months on the back of electricity shortages and a weaker currency, a leading survey showed on Thursday, AFP said.
The European Union proposed on Thursday offering an additional 1.8 billion euros ($2.1 billion) to help save Ukraine from bankruptcy as Kiev assured Germany it had credible plans to modernize.
