Moody’s has cut its credit rating on five Japanese commercial banks after it downgraded the country’s sovereign debt over concerns about the mammoth national debt.
The firms hit by the move…
World Economy
Islamic banking is growing faster but is focused in a few core markets and risks missing an opportunity to build a global footprint, the Ernst & Young (EY) consultancy said in a report on…
Transactions in dollars and euros could be banned within the member-states of the Eurasian Economic Union (EEU) — Russia, Belarus, Kazakhstan and Armenia, Itar Tass reported on Tuesday.
The drop in oil prices will provide a net boost to the global economy while posing risks for energy-producing nations including Russia, International Monetary Fund Managing Director…
The Russian economy ministry slashed its economic forecast for 2015, announcing a contraction of 0.8% due to the pressure of western sanctions over the Ukraine crisis and falling oil prices, AFP…
Australia’s central bank kept interest rates at a record low to spur an economy struggling for traction against a high currency and tumbling export prices.
Japanese wages adjusted for inflation dropped for a sixteenth straight month as Prime Minister Shinzo Abe faces an election focused on his efforts to spur economic growth. Earning…
South Korea’s Samsung Electronics Co Ltd said on Tuesday that it will sell its fiber optics business to US glass panel supplier Corning Inc, without disclosing terms of the…
Spain’s jobless queue shrank in November, ending three months of increases, as the economy slowly recovered after emerging in mid-2013 from a two-year recession, the government said Tuesday.
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Brazil and Uruguay have switched from the dollar to local currencies in bilateral trade operations, in accordance with an agreement the two countries signed in …
The World Bank said Tuesday that the fallout from the deadly Ebola pandemic will push Guinea and Sierra Leone into recession next year.
With the disease still not under control in West…
The global banking industry has moved beyond recovery and regained overall profit for the first time since the financial crisis, although European lenders are still lagging far behind rivals, an…
Chipmakers Cypress Semiconductor and Spansion announced plans to merge in a $4b deal bringing together two key makers of components for “Internet of Things” devices, AFP reported. The all-stock…
Apple Inc shares tumbled shortly after the start of trading, briefly suffering their largest price drop in at least three months on an unusual spike in volume. Selling accelerated just before 1451…
Turkey on Monday assumed the presidency of the G20 group of major economies for the first time in its history, pledging to fight global inequality during its turn at the helm.
The…
Turkish exports decreased by 6.4 percent last month compared to November last year as regional tensions and a slow EU economic recovery hit the country’s exports, the Turkish Exporters’ Assembly…
Beyond pollution, water scarcity may be the most threatening environmental issue China faces today, The Diplomat reported.
Cyprus’s shell-shocked economy will exit recession in 2015 as the island’s recovery from the near collapse of its banks gathers pace, the central bank chief said on Monday.
The UK is predicted to become the first country in the world where more than half of all advertising spent goes to digital media – thanks to a national obsession with gadgets, social media and…
The ASEAN business community should embrace the ASEAN Economic Community (AEC) and prepare adequately to maximize the potential it offers.
An India, China, Bangladesh and Myanmar economic corridor has been planned to get significant gains through sub-regional economic cooperation, Bangladesh Prime Minister’s energy affairs advisor…
Sweden is looking to Denmark, a country that’s still recovering from the effects of a housing market crash in 2008, in how to reduce household debt burdens that have soared to records, Bloomberg…
German government bonds held a fifth weekly gain, with the 10-year yield touching a record low, after a report showed the euro region’s manufacturing industries grew at a slower…
Indian factory output rose at its fastest rate in nearly two years in November, with consumer goods leading the way, a key HSBC survey showed Monday. The bank said its purchasing managers index (…
Switzerland’s manufacturing output growth slowed in November, data showed Monday, indicating demand for the Alpine country’s industrial goods is being eroded by sluggish growth in its primary…
