Nokia, once an iconic mobile handset maker, is shutting down its India plant Saturday at Sriperumbudur near Chennai, a company spokesperson said.
World Economy
Microsoft Corp launched a device called “Microsoft Band” that will allow users to monitor their fitness and exercise regime, marking the world’s largest software company’s debut into the wearable…
China’s manufacturing slowed further last month, as a property slump and slowdown in investment growth put the world’s second-largest economy on course for the slowest full-year growth since 1990…
Finland’s food export to Russia slumped by 58 percent last August against the same month of 2013, the Finnish Customs said on Friday, according to a report by Itar Tass. “The nearly 60 percent…
Thailand’s factory output fell but exports and consumption rose, suggesting the economy is struggling to gain momentum after a coup ended months of political unrest five months ago.
South Korea posted a record trade surplus in October as demand from the US boosted exports of products such as steel pipes and computers.
The European Union has launched a trade dispute at the World Trade Organization to challenge what it feels are Russia’s unjustified tariffs on many imports from the bloc. Brussels said Moscow did…
French Prime Minister Manuel Valls said Paris was “absolutely determined” to drive economic reforms and that France was not “Europe’s sick man”.
Valls was visiting the Netherlands for talks…
US consumer spending fell in September for the first time in eight months, suggesting the economy lost some momentum heading into the fourth quarter, Reuters reported. The Commerce Department said…
South Korea’s LG Electronics Inc said its July-September operating profit more than doubled from a year earlier as earnings from its mobile business surged to a five-year high. LG said it shipped…
Asian markets rallied Friday and the dollar pushed past 111 yen after Japan’s central bank said it would expand its vast monetary easing scheme and the United States released forecast-busting…
Russia’s central bank has raised its key interest rate to 9.5% from 8% as it seeks to tackle inflation.
The 1.5 percentage point increase was higher than expected, with analysts having…
Argentina’s government secured congressional approval Thursday for a reform it sees as key to rebuilding oil and natural gas production after a decade of decline.
Britain on Friday said it was paying back bonds issued by then finance minister Winston Churchill to cover debts from World War I, as well as the Napoleonic and Crimean campaigns, BBC reported.…
Finance ministers from over 51 countries signed an agreement in a step closer to ending the dark financial underworld of tax-evasion and money-laundering, a top priority for austerity-hit…
A plant to turn used cooking oil, or ‘gutter oil’ into sustainable aviation biofuel has been opened by China’s Commercial Aircraft Corp. and US Company Boeing in…
The Swiss National Bank reported a profit equivalent to 23.6b euros ($29.7b) for the first nine months of the year on gains from currency trading and a rise in the value of its gold reserves, AFP…
Serbia on Friday launched the fourth public tender for its sole steel plant near Belgrade, the national privatization agency said, AFP reported. The government was looking for a strategic partner…
Gunther Oettinger, who has just taken over as EU digital commissioner from Neelie Kroos, has threatened Google with the imposition of a copyright levy. Today, he told German publication…
Russia’s gold reserves have reached the biggest mark since 1998 when the country defaulted on local debt, Bloomberg said. The country’s bullion holdings are now the biggest in almost two decades,…
Bank of Japan Governor Haruhiko Kuroda led a divided board to expand what was already an unprecedentedly large monetary-stimulus program, boosting stocks and sending the yen tumbling.
Eurozone inflation edged up to 0.4 percent from multi-year lows while unemployment was little changed, official data showed Friday, providing only limited reassurance that a modest economic…
The Credit Suisse Research Institute Thursday released its fifth annual Global Wealth Report, which finds that from mid-2013 to mid-2014 aggregate global household wealth increased by 8.3% in…
The European Union has allocated additional €39 million ($48.7m) to support European agricultural producers affected by Russia’s food products import ban, the European Commission said on…
Japanese consumer electronics giant Sony has reported a net loss for the three months to September of 136b yen ($1.2b). The loss, which was attributed to its struggling mobile phone…
