Business / World Business

Brazilian conservationists develop new tool to cut illegal wood from supply chains 22 Dec 2016 - 08:33 am

RIO DE JANEIRO: Companies that want to buy Brazilian timber without contributing to illegal deforestation have a new tool to help them ensure...

Wall Street closes higher on banking, tech gains 21 Dec 2016 - 09:59 am

NEW YORK: Two of Wall Street’s three indexes closed at record highs Tuesday as shares jumped at technology companies and major American investment...

Praxair agrees to buy Linde for $35bn 20 Dec 2016 - 10:03 pm

Frankfurt: German industrial gases maker Linde and its US competitor Praxair yesterday said they had agreed the terms of a proposed $65bn "merger...

Lloyds to acquire BofA’s UK credit card unit for $2.4bn 20 Dec 2016 - 10:02 pm

London: Lloyds Banking Group Plc agreed to buy Bank of America Corp’s MBNA credit-card business in the UK for 1.9bn pounds ($2.4bn) in...

Bank of Japan lifts view of economy as exports rise 20 Dec 2016 - 09:54 pm

Tokyo: The Bank of Japan (BoJ) yesterday lifted its view of the economy for the first time in over a year, as the...

Dollar bounces back towards 14-year highs 20 Dec 2016 - 09:54 pm

London: The dollar rebounded towards 14-year highs yesterday, boosted by upbeat comments from Federal Reserve Chair Janet Yellen that kept alive market expectations...

UK's inflation likely to remain above target 20 Dec 2016 - 09:51 pm

London: The UK inflation will accelerate quickly above the Bank of England’s 2 percent target and could stay there for a prolonged period,...

US fines top executives of Platinum Partners 20 Dec 2016 - 09:51 pm

New York: Top executives of New York-based hedge fund manager Platinum Partners were arrested and charged with running a $1bn fraud that federal...

IMF Executive Board retains 'full confidence' in Lagarde's leadership 20 Dec 2016 - 09:33 pm

Washington: The International Monetary Fund said it retains “full confidence” in Christine Lagarde’s ability to continue to lead the organisation, despite her conviction...

Gold falls on hopes of stronger global economic growth 20 Dec 2016 - 09:33 pm

London: Gold fell yesterday as the dollar rose and investors sold on expectations of stronger global economic growth and higher US interest rates,...

India's golden parachute is failing this precious metal 20 Dec 2016 - 08:31 pm

In times of trouble for gold -- and the yellow metal has slid 11 percent over the past six weeks -- India has...

India's Mistry launches legal battle against Tata Sons 20 Dec 2016 - 07:13 pm

New Delhi: Cyrus Mistry, the ousted former chairman of Indian conglomerate Tata, took his battle against former employer Tata Sons to court Tuesday,...

Belarus PM wants Russia to give it same gas price as Russian regions 20 Dec 2016 - 10:25 am

MINSK: Belarus wants Moscow to give it the same price for Russian gas as Russian regions bordering the ex-Soviet country pay, Belarussian Prime...

Judges find Lagarde guilty of negligence 20 Dec 2016 - 01:19 am

Paris: A French court yesterday found IMF head Christine Lagarde (pictured) guilty of negligence over a massive state payout to a tycoon when...

Stocks, dollar & bond yields all drift lower 20 Dec 2016 - 01:11 am

London: Stocks, the dollar and bond yields all drifted lower yesterday as investors cashed in on some of their recent bets that the...

Tokyo stocks snap winning streak; Nintendo tumbles 20 Dec 2016 - 01:08 am

Tokyo: Tokyo's benchmark index yesterday snapped a nine-day winning streak as the yen's uptick hit exporters while Nintendo tumbled seven percent with investors...

Apple files appeal over landmark EU tax ruling 20 Dec 2016 - 01:08 am

Brussels: Apple yesterday launched a legal challenge against a landmark EU decision that the tech giant pay billions in back-taxes to Ireland, claiming...

India's Cyrus Mistry resigns from all Tata companies 20 Dec 2016 - 01:08 am

Mumbai: Cyrus Mistry (pictured), the ousted former chairman of Indian conglomerate Tata, announced yesterday he had resigned from all of the group's listed...