Russia’s biggest lender Sberbank said Wednesday its profits fell 10 percent year-on-year in the first nine months of 2014 as the sanctions-hit bank stepped up loan-loss provisions due to the…
World Economy
European stocks rose on Tuesday, with a key benchmark index hitting a nine-week high as euro zone banking shares gained on mounting expectation of more stimulus from the European Central Bank.
Policymakers were sharply divided over expanding the Bank of Japan’s huge easing plan last month, with opponents of the move warning that the risks far outweighed any benefits, minutes from the…
The United States wants to step up its trade dialogue with India, trade representative Michael Froman said, after the resolution of a global trade dispute paved the way for President Barack Obama…
The weak eurozone economy poses a key threat to global growth, the Organization for Economic Cooperation and Development (OECD) warned Tuesday, urging more flexibility in fiscal rules for…
The US economy grew at a robust 3.9% pace in the third quarter, stronger than previously estimated as business investment and consumer spending picked up, the Commerce Department said Tuesday, AFP…
Britain’s biggest customer-owned lender, warned of increasing competition on Tuesday, as banks begin to lend again after several years spent slimming down and building capital reserves,…
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the western-dominated “predatory casino scheme” that has contributed to world wars and “economic…
Germany relied on domestic consumers for economic growth last quarter as investment fell, putting the strength of the nation’s recovery at risk.
Singapore’s economy is expected to slow to growth of 3.0 percent this year as a global deterioration hits the city-state’s crucial trade outlook, the government said Tuesday.
Gold steadied below $1,200 an ounce on Tuesday after small losses in the previous session, while traders eyed the dollar and an upcoming Swiss referendum on central bank gold reserves for more…
The 18th Beijing-Hong Kong Economic Cooperation Symposium kicked off in Beijing on Tuesday. Participants from both sides will focus on the promotion of high tech projects in the development of…
Struggling Sony warned it needs to carry out years of root and branch reform before it can turn around its battered smartphone arm. The Japanese consumer giant, fresh from revealing a 172b yen ($1…
ING Group NV, the Dutch bank, says it will cut 1,700 jobs, or 2.7% of its workforce, to cut costs. An additional thousand jobs will be lost at external suppliers, the bank said in a statement…
Rating agency Standard & Poor’s is unlikely to change Russia’s rating even if the country falls into recession, the agency’s senior director for sovereign ratings, Christian Esters, said on…
The euro steadied on Tuesday after it rebounded against the dollar, thanks to a short squeeze that followed an encouraging improvement in German business sentiment, Business World reported.
Stocks rose on Monday as Asian markets got their first chance to react to China’s surprise interest rate cut late Friday and thanks to an improvement in business confidence in Germany.
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The port of Barcelona received the third most productive port in Europe award for the first half of 2014, marking the first time that a port from southern Europe has been ranked among the top…
The euro flirted with a two-year trough against the dollar on Monday as investors bet the European Central Bank would ease monetary policy more aggressively to ward off deflation in the stuttering…
Miners have unearthed a billion-dollar black hole in profit forecasts for next year as a result of tumbling commodity prices. The hoped-for bumper cash returns from the sector have all but…
Around 40 states have plans to establish a free trade zone with the Eurasian Economic Union (EEU), the speaker of Russia’s lower house of parliament, the State Duma, Sergey Naryshkin, told an…
Maersk A/S has entered the second phase of its share buy-back program, which will be limited to a maximum of 75,000 A shares and 300,000 B shares valued at $550m. Maersk has initiated the $…
Chile is unlikely to achieve a significant near-term economic recovery and inflation is poised to end the year well above the targeted 2-4 percent range, central bank vice-president Enrique…
China’s leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business…
Lebanon’s public revenues are likely to hit L£16t ($10.6b) in 2014, posting double-digit growth from L£14.2t ($9.2b) last year, said a report. The rise in revenues is also seen swinging the…
