2017 2016 2015 2014 2013 2012 2011 2010 News Archive
January February March April May June July August September October November December
Global stocks rise as investors weigh future of US interest rates
(Saudi Gazette - 31/08/2016)

Global stock markets mostly rose on Tuesday as investors weighed the possibility and timing of another US interest rate increase this year. France’s CAC 40 added 0.7 percent to 4,455 and Germany’s DAX rose 0.9 percent to 10,640. Britain’s FTSE 100 inched

China’s big banks set for hard slog as margins shrink
(Arab News - 31/08/2016)

Four of China’s so-called ‘Big Five’ state-owned banks have warned that profits will continue to be pressured in the second half of the year, as slowing growth in the world’s second-biggest economy hits borrowers and saps lenders’ margins. Chinese banks,

Egyptian parliament approves VAT at 13%
(Gulfnews - 30/08/2016)

Egypt’s parliament approved on Monday a long-awaited law introducing a Value Added Tax of 13 per cent which will rise to 14 per cent in the next fiscal year. Parliament had been debating the law for weeks with several lawmakers opposing the government’s

US consumer spending rises in July
(The Gulf Today - 30/08/2016)

US consumer spending increased for a fourth straight month in July amid strong demand for automobiles, pointing to a pickup in economic growth that could allow the Federal Reserve to raise interest rates this year. The Commerce Department said on Monday

China’s top 500 firms report first revenue decline
(The Peninsula - 29/08/2016)

China’s top 500 enterprises reported their first annual decline in combined revenues in 15 years with a 0.07 percent drop last year. Among the top 500 firms, 155 reported declines in revenues in 2015, 61 more than a year ago, with many of them

Japan pension fund loses $52 billion in stock rout
(The Gulf Today - 28/08/2016)

The world’s biggest pension fund posted a $52 billion loss last quarter as stocks tumbled and the yen surged, wiping out all investment gains since it overhauled its strategy by boosting shares and cutting bonds. <b> Japan’s Government Pension

Amtrak inks Alstom $2bn deal for trains
(Saudi Gazette - 28/08/2016)

US rail operator Amtrak on Friday awarded a $2.0 billion (1.8 billion euros) deal to French manufacturer Alstom to supply new trains for its key Acela service between Washington, New York and Boston. <b> The landmark deal for 28 new passenger trains will

China moves to fend off financial risks
(The Gulf Today - 25/08/2016)

China took aggressive steps on Wednesday to head off signs of growing risks in its financial and banking system, unveiling detailed rules to curb an unruly peer-to-peer (P2P) lending sector and intervening in its money markets. In the past year, Chinese

UK economy suffers marginally from Brexit impact
(The Gulf Today - 24/08/2016)

Two months after Britain decided to leave the European Union, consumers seem to have taken the result in their stride but there are some signs that the challenge for the economy has barely begun. Below is a summary of various measures of the economy’s

Ending Pakistan blackouts key to unlocking $5b inflow
(Gulfnews - 23/08/2016)

Pakistan is targeting a fourfold jump in foreign direct investments betting that new power plants coming online will end energy shortages that have stalled inflows into the nation, according to an aide to Prime Minister Nawaz Sharif. The government

China eyes broad business cost cuts to underpin growth
(The Gulf Today - 23/08/2016)

China’s cabinet has unveiled detailed plans to lower business costs in the next several years, the latest steps to cushion an economic slowdown in the world’s second-largest economy. Authorities aim to cut financing and labour costs, energy and logistics

Fed close to hitting job and inflation targets: Fischer
(The Gulf Today - 22/08/2016)

The Federal Reserve is close to hitting its targets for full employment and 2 per cent inflation, the Fed’s No.2 policymaker said on Sunday in comments that did not address when the US central bank should next raise interest rates. v The Fed has been

Pak’s current account gap widened to $591m in July
(The Gulf Today - 21/08/2016)

The current account of Pakistan was in a deficit of $591 million in July, more than double the amount of $234 million noted in the same month of the last year. It seems the weakness of external segments of the economy reflected in trade deficit, sharp

Turkey’s growth is forecast to dip due to lower investment
(Arab News - 21/08/2016)

Fitch Ratings has affirmed Turkey's Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at "BBB-". The outlooks have been revised to Negative from Stable. The issue ratings on Turkey's senior unsecured foreign and local currency bonds have

Pakistan Stock Exchange (PSX) gets 17 EOIs for its 40% stake
(The Gulf Today - 18/08/2016)

Pakistan Stock Exchange Limited (PSX) has received an overwhelming feedback from 17 foreign as well as local investors in response to its invitation for expression of interests (EOIs) for acquiring equity stake in the PSX. Divestment Committee of PSX,

Global stocks fall ahead of Fed minutes
(The Gulf Today - 18/08/2016)

Stocks around the globe turned lower on Wednesday as investors sold equities ahead of the release of minutes from the Federal Reserve’s July meeting a day after two Fed officials said US short-term interest rates could rise as soon as next month. The Fed

Egypt tightens wheat import rules
(Gulf Times - 17/08/2016)

Egypt, the world’s biggest wheat buyer, tightened restrictions on imports with a new rule preventing some grain vessels from unloading until they pass final inspection. The decision was made by Egypt’s quarantine agency in an August 8 letter distributed

Apple to increase investment in China
(Arab News - 17/08/2016)

Apple Inc. will boost its investment in China, one of its most important but increasingly difficult markets, and build its first Asia-Pacific research and development center in the country, said CEO Tim Cook. Demand for Apple’s phones has plummeted in

Japan’s economic growth fizzles out in Q2
(The Gulf Today - 16/08/2016)

Japan’s economy stalled in the April-June quarter, data showed on Monday, missing market forecasts and rekindling worries about the government’s faltering bid to stoke a recovery. Growth in the world’s third largest economy was flat at 0.0 per cent

Islamic banks take lead in housing finance in Pakistan
(The Gulf Today - 15/08/2016)

Islamic banks in Pakistan have emerged as lead financiers of housing projects in the country at a time when conventional banks struggle to raise deposits for long-term maturity leading to low lending levels. According to a detailed report of the State

Sri Lanka, China sign pact to construct mega port city
(The Gulf Today - 14/08/2016)

Sri Lanka and China on Friday signed a tripartite agreement to proceed with the construction of a mega multi billion dollar port city project in capital Colombo. The agreement was signed between Sri Lanka’s Urban Development Authority, the Ministry of

Italy to seek new EU deal to keep economy on track
(Arab News - 14/08/2016)

Italy is to seek a new deal with the European Union to allow it to kickstart its stalling economy with an expansionary 2017 budget, a government minister said Saturday. Economic Development Minister Carlo Calenda's comments came three months after Rome

China’s economic activity slows in July as reforms begin to bite
(Reuters - 13/08/2016)

China’s economic activity slowed in July, with investment growing at its slowest pace since the turn of the century, as the world’s second-largest economy grappled with the painful restructuring of its older industrial sectors. The weaker-than-expected

Surging yen drives Japanese away from currency-tied notes
(Bloomberg - 13/08/2016)

The strengthening yen is encouraging investors to steer clear of a type of complex note that suffers when the Japanese currency gains. Sales this year of so-called power reverse dual currency notes have dropped 41% to ¥24.2bn ($237.4mn) from the same

Emerging equities hit fresh one-year highs
(Reuters - 13/08/2016)

Emerging stocks hit new one-year highs yesterday and headed for their fifth straight week of gains, as below-forecast Chinese data stirred expectations that Beijing would add to the stimulus largesse of developed countries’ central banks. MSCI’s emerging