World Economy

Air France put the total cost of last month’s two-week pilots strike at 500 million euros ($632m) on Wednesday, wiping more than a fifth off its parent group’s estimated full-year core…

Australia’s record jobs growth in August was too good to believe. The statistics bureau today said it will drop the widely watched seasonally adjusted figure, which showed the nation of 23 million…

Thailand’s government is trying to bolster a struggling economy that is at risk of trailing its peers with a stimulus package that analysts say is insufficient to counter the damage from falling…

The  International Monetary Fund (IMF) has cut SA’s economic growth outlook for the fourth consecutive time this year, making it the latest in a number of institutions to lower gross domestic…

Saudi Arabia’s National Commercial Bank (NCB) plans to raise SR22.5 billion ($6b) in a flotation this month, it said in a statement, the biggest ever share sale in the Middle East.

A charity says the problem of mounting personal debt is costing the British economy £8b ($12.8b) annually, due to the burden it puts on state services.

StepChange, which hears from half a…

Around 50 documents on the Russian-Chinese cooperation are to be signed during the next week’s visit of Chinese Premier Li Keqiang to Moscow, a Chinese deputy foreign minister said on Wednesday.…

London-listed energy producer Dragon Oil, which is 54% owned by Dubai’s state-owned Emirates National Oil Company, is set to make a £500m ($800m) bid for Irish oil company Petroceltic, TradeArabia…

Investcorp Bank BSC has hired Barclays Plc (BARC) to help sell its minority stake in (Persian) Gulf Cryo, a manufacturer of industrial and specialty gases in the Middle East. Investcorp, based in…

Asian share markets were mostly in the red on Wednesday as worries about waning global growth lifted safe-haven bonds, while shoving oil prices to their lowest in more than two years.…

The International Monetary Fund has called for reforms to government bond markets. One of the key aims is to prevent repeats of the legal problems that have affected Argentina in US courts.

Russia’s central bank intervened in the currency market for the third time this month, bringing to more than $1.4 billion the amount it spent to slow the ruble’s world-beating decline.

Living standards continue to diverge within many economically advanced countries as poorer regions struggle to catch up with richer ones, according to new research by the Organization for Economic…

Turkey on Wednesday lowered its economic growth forecast for 2014 to 3.3 percent, blaming external factors including the chaos in neighbors Syria and Iraq and increased uncertainty in the global…

Tech giant Yahoo plans to cut jobs in Bangalore, India, which is considered one of its largest engineering hubs. A Yahoo spokesperson said the company was “making some changes to the way we…

The London Metal Exchange on Wednesday won a court battle over plans to reform its aluminum warehousing network that could end a long-running legal dispute with Russian metals firm Rusal, AFP…

The International Monetary Fund and the World Bank have cut their outlook for global growth for the years 2014 and 2015 and warned about the risks of rising geopolitical tensions and a financial-…

Turner Broadcasting, the parent company of CNN, will cut its total workforce by about 10% in the coming weeks through a mix of buyouts, layoffs and other measures, the company report says.

Middle Eastern carriers recorded around 11.7 percent year-on-year growth in passenger traffic during the month of August, the strongest globally, according to a report by the International Air…

The Ukrainian government could get an additional assistance package through a grant program of the European Economic Area (EEA) and Norway, it was reported on Tuesday.

The proposal for…

The US Treasury Department has taken a bank off its “naughty” list, Turkey’s DenizBank, a subsidiary of Russia’s state-owned Sberbank.

Russia’s largest bank was placed under sanctions in…

Germany’s economic ministry said industrial production shrank 4% in August. The fall was the biggest since early 2009 and was far sharper than the 1.5% drop expected. According to BBC, weak demand…

New York’s iconic Waldorf Astoria hotel has been sold by Hilton Worldwide to Chinese firm Anbang Insurance Group for $1.95b, BBC reported. However, Hilton will continue to operate the hotel for…

Malaysia’s decision to hike administered fuel prices is credit positive, but the country needs to take more measures to achieve its fiscal targets in time, International Business Times quoted…

Hong Kong’s financial market continues to function normally and is in good order despite the ongoing protests, said Acting Financial Secretary K. C. Chan. Chan said the government has implemented…