International
-
Thursday, February 16, 2012
Trade and tourism keep Dubai economy growing
Dubai’s economy will continue to grow in 2012 despite persistent contraction in its once rapidly-booming construction sector, thanks to healthy trade and tourism, an official and economists said yesterday. Growth in the gross domestic prod...
-
Thursday, February 16, 2012
Germany warns of ‘bottomless pit’ in Greece
Germany’s Finance Minister warned yesterday that Berlin was not prepared to pour money into what he termed a “bottomless pit” in Greece, after eurozone ministers put a new bailout for Athens on hold. “We want to do everything we can to hel...
-
Thursday, February 16, 2012
OECD praises management of strong Norwegian economy
Norway has weathered the economic crisis well thanks to its oil riches but must be careful to avoid a property bubble, the OECD said yesterday. “Norway continues to benefit from its well-managed petroleum wealth and sound macroeconomic pol...
-
Thursday, February 16, 2012
China pledges support as Greek bailout is delayed by eurozone
The eurozone gave Greece a new ultimatum and delayed a decision on a debt rescue, but China expressed support for the euro pushing up stock markets yesterday. The ministers called off a meeting on the rescue to avert imminent default for G...
-
Thursday, February 16, 2012
Italy slides into recession as tough budget cuts bite
Italy has slid back into recession after the economy shrank 0.7 per cent in the fourth quarter following stringent budget cuts aimed at stabilising the public finances, official data showed yesterday. The economy contracted 0.2 per cent in...
-
Thursday, February 16, 2012
Italy’s ENI eyes Libya recovery, warns on eurozone
Italian oil giant ENI said yesterday its 2011 net profit rose and production is expected to pick up this year as Libyan fields come back on line after the overthrow of Muammar Gaddafi. The energy company’s 2011 net profit rose 9.1 per cent...
-
Thursday, February 9, 2012 , by
David Williams
Spain’s PM says towering jobless rate to rise further
Spain’s centre-right Prime Minister, Mariano Rajoy, warned yesterday that the country’s near 23 per cent unemployment rate will rise even further this year. Spain’s unemployment rate hit a 17 year high of 22.85...
-
Thursday, February 9, 2012 , by
Roland Jackson
Bank of England set to pump more cash into economy
The Bank of England is expected to pump billions more pounds into the economy today and maintain record-low interest rates in a bid to boost the faltering recovery, analysts said. The central bank’s Monetary Policy Committee...
-
Thursday, February 9, 2012 , by
Simon Morgan
German exports break record but crisis takes its toll
German exports topped €1 trillion for the first time in 2011, but fell at year-end as the eurozone debt crisis hit demand for goods made in Germany, official data showed yesterday. Europe’s biggest economy exported...
-
Thursday, February 9, 2012
Nokia cuts 4,000 jobs in struggle to win smartphone market
World-leading mobile phone maker Nokia intends to cut 4,000 jobs at its smartphone manufacturing facilities in Finland, Hungary and Mexico by the end of 2012, it said yesterday. “The expected headcount impact by country is 2,300 in...
-
Thursday, February 9, 2012
Strong economic growth in Indonesia
Workers at a high rise commercial building construction are seen in Jakarta yesterday. Indonesia said its economy grew at the fastest rate for 15 years in 2011, spurred by strong household consumption and private investment in Southeast Asia’s bi...
-
Thursday, February 2, 2012
Greek debt deal aims for cut of more than 70%
A deal to cut Greece’s private sector debt is to be submitted to Parliament by February 13, and involves a reduction of “more than 70 per cent,” according to Finance Minister Evangelos Venizelos. Until now, private creditors have agreed on...
-
Thursday, February 2, 2012 , by
Helene Colliopoulou
Media in Greece hit by financial crisis
The next time a scandal about Greece’s financial woes is broken by the country’s domestic press, spare a thought for the reporter who wrote it. Greece’s once-proliferating media sector has been hobbled by the ongoing financial crisis. Wher...
-
Thursday, February 2, 2012
Drug giant Roche posts 7% profit rise in 2011
Swiss drug maker Roche posted a seven per cent rise in its 2011 net profit to 9.5 billion Swiss francs ( €7.9 billion) yesterday, despite the impact of the strong currency against the dollar and euro. The performance was slightly up on ana...
-
Thursday, February 2, 2012 , by
Benedicte Rey
Advertising giants seek catchy tunes at MIDEM global music market
What kind of tune will make someone want to buy a bar of soap, a painkiller or a condom? That was the question facing ad agencies who flocked to this week’s MIDEM global music market in search of catchy sounds for their next big brand campaigns.
-
Thursday, February 2, 2012
China can stimulate economy through domestic consumption
A Chinese traveller carries his luggage outside a train station in Beijing yesterday. China could easily boost domestic consumption to stimulate its economy if its slowdown is too sharp, the International Monetary Fund said recently.
-
Thursday, February 2, 2012
Putin cappucino
A coffeehouse client holds a cup of cappuccino with the portrait of Vladimir Putin created with cinnamon and cocoa powder sprinkled on the cappuccino’s foam in Moscow yesterday. The strongman Prime Minister is seeking to win back his old Kremlin...
-
Thursday, January 26, 2012 , by
Dave Clark
Davos elite confronts crisis of Western capitalism
Leaders of the global business elite were confronted yesterday with the fear that the Western model of capitalism has failed and is about to be shoved aside by emerging powers. Over four decades, the annual World Economic Forum in...
-
Thursday, January 26, 2012
Disruptive innovation can help cash-strapped governments deliver more for less – Deloitte
A new report from Deloitte Touche Tohmatsu Limited (DTTL), ‘Public sector, disrupted: How disruptive innovation can help government achieve more for less’, outlines disruptive innovation as a way to break the seemingly unavoidable trade-off betwe...
-
Thursday, January 26, 2012 , by
Simon Morgan
German business confidence gets off to good start in 2012
The German economy, Europe’s biggest, got off to a good start in the New Year, with business confidence rising for the third month in a row, the IFO economic institute said yesterday. IFO’s closely watched business sentiment index...
