Investors breathed a sigh of relief on Friday, as data revealed that Germany narrowly missed falling into recession in the third quarter, although Italy's economy contracted once again.
World Economy
The International Monetary Fund (IMF) has reached a preliminary agreement with Kenya for a standby credit line of about $750 million to help insulate against possible market shocks, the…
Airbus Group reported a stronger-than-expected 12 percent rise in nine-month underlying operating profit on Friday, led by its plane-making and helicopter divisions, and reaffirmed its profit…
Malaysia’s economic expansion slowed last quarter after exports and investments cooled, an easing that may persist as subsidy cuts weigh on private consumption. Gross domestic product …
Another high level Swiss banker has been charged with conspiring to evade US taxes. The latest indictment is of Martin Dunki, formerly Senior VP at Swiss private bank Rahn & Bodmer. He lives…
Banks’ financial trading revenues rose in the third quarter thanks to an increase in market volatility, but the rise was not enough to offset the fall seen in the first half of the year, according…
The Eurasian Economic Union (EEU) between Russia, Belarus and Kazakhstan may establish a free trade zone with the Asia-Pacific countries, Russian Prime Minister Dmitry Medvedev said.
Continued low interest rates and mortgage market competition has led to another fall in the number of homes repossessed in the UK, BBC reported. There were 5,000 homes repossessed in the third…
The euro opened 1.4% up against the ruble to 59.07 on the Moscow Exchange on Friday while the dollar climbed by 1.3% to 47.45 as world oil prices continued to fall, Itar Tass reported. The ruble’s…
Fossil fuels are reaping $550 billion a year in subsidies and holding back investment in cleaner forms of energy, the International Energy Agency said.
Oil, coal and gas received more than…
European shares and core bond yields fell on Wednesday, bucking a strong performance in Japan, with bank stocks under pressure following a $3.4 billion settlement over allegations of…
South Africa risks losing its coveted investment grade credit status within five years if it fails to recover from an economic slump that prompted a downgrade by Moody’s last week.
Russia’s colossal economic shift toward Asia in energy, finance, and infrastructure deepened at this year’s APEC summit in Beijing with 17 major bilateral business deals with China. The strategic…
Starting on Monday, investors anywhere in the world will able to purchase shares of companies listed on the Shanghai Stock Exchange. It’s yet another sign that China is opening up its economy.…
The cultivation of opium poppy in Afghanistan has risen by 7% reaching a record high in 2014, Afghan media reported on Wednesday citing UN experts.
India’s retail inflation eased more than economists predicted and factory output exceeded estimates, taking some pressure off the central bank Governor Raghuram Rajan to lower interest rates.…
Growth in average pay for UK workers overtook inflation for the first time in five years, according to data from the Office for National Statistics, BBC reported. Wages excluding bonuses rose by 1…
Tax officials have raided more than 70 financial organizations across Argentina, in what they say is an operation targeting money-laundering. Agents targeted banks, currency exchange shops and…
Standard Chartered will close up to 100 bank branches next year in Asia, Africa and the Middle East in an attempt to improve its profitability, BBC reported. The UK bank plans to cut about 8% of…
Technology giant Yahoo said it will buy digital video advertising service BrightRoll for $640m (£402m), BBC said. The move would allow Yahoo to grow its video advertising platform, “making it the…
Russia intends to have its own international inter-bank system up and running by May 2015. The Central Bank of Russia says it needs to speed up preparations for its version of SWIFT in case of…
Global regulators imposed penalties totaling $3.4 billion on five major banks, including UBS, HSBC and Citigroup on Wednesday in a landmark settlement over allegations of price fixing in the…
The Saudi Arabian landscape, now more than ever, is ripe for serious discussions of its future. Over the past few decades the country’s vast oil wealth has ipso facto placed the country as one of…
The world’s major economies show stable economic momentum but the eurozone continues to lose steam, notably in Germany and Italy, while Japan and Britain may be faltering too, the OECD said on…
There are no plans at present for further economic sanctions on Russia over Ukraine, Germany’s Chancellor Angela Merkel said. However, she was unhappy that “large parts of the Minsk agreement are…
