Business / World Business

Lagarde gets strong backing from Europe to stay at IMF 22 Jan 2016 - 12:00 am

International Monetary Fund (IMF) Managing Director Christine Lagarde looks on during a session at the World Economic Forum (WEF) annual meeting in Davos,...

Barclays to slash about 1,000 investment bank jobs worldwide 21 Jan 2016 - 02:49 pm

File picture of Barclays bank office at Canary Wharf in London, Britain. By Anshuman Daga and Lawrence White HONG KONG: Barclays will cut...

Brazilian businessman Batista transfers more stakes to UAE’s Mubadala 21 Jan 2016 - 12:00 am

DUBAI: Brazilian tycoon Eike Batista is transferring stakes in four more companies to Abu Dhabi’s state-owned investment fund Mubadala Development as he continues...

VW sued by British pension fund over emissions scandal: lawyers 20 Jan 2016 - 06:10 pm

Frankfurt: A German law firm said Wednesday it is suing embattled auto giant Volkswagen on behalf of a British pension fund for compensation...

Opinion: Middle East economic slowdown will cut oil demand growth: Kemp 20 Jan 2016 - 06:04 pm

By John Kemp LONDON: The Middle East was the fastest growing region for oil consumption except China over the last decade as young...

Luxury watchmakers rethink affordability to counter downturn 20 Jan 2016 - 12:56 pm

By Astrid Wendlandt and Silke Koltrowitz GENEVA: High-end watchmakers have signalled a shift in strategy with an expanded range of more affordable products...

Zurich Insurance eyes $275 mn loss after UK storms 20 Jan 2016 - 12:04 pm

Zurich: Zurich Insurance said Wednesday it expected to post a $275-million (251-million euro) loss for 2015 largely due to three massive storms that...

US firms moving operations out of China: Survey 20 Jan 2016 - 09:46 am

A man looks at the Pudong financial district of Shanghai. Reuters Beijing: One out of four US companies active in China has moved...

European industry commissioner demands action from VW 20 Jan 2016 - 01:45 am

Volkswagen boss to meet commissioner this week. Volkswagen declines to comment. European Commission to propose tougher regulation this month. By Barbara Lewis BRUSSELS:...

IMF cuts global growth forecast as China growth slows 19 Jan 2016 - 05:07 pm

By David Lawder WASHINGTON: The International Monetary Fund cut its global growth forecasts for the third time in less than a year on...

French carmaker Renault to recall 15,000 vehicles to check engines: Minister 19 Jan 2016 - 10:43 am

French minister of ecology, sustainable development and energy Segolene Royal Paris: French carmaker Renault, under the spotlight over high levels of harmful emissions,...

China 2015 growth slows to weakest for 25 years: Govt 19 Jan 2016 - 10:13 am

A migrant worker and a Chinese man walk passing by a construction site in central business district (CBD) of Beijing, China, 19 January...

Airbus, Uber team up for on-demand helicopter rides 18 Jan 2016 - 05:08 pm

Paris: European aircraft maker Airbus has said it is teaming up with global ridesharing service Uber to test plans for offering an on-demand...

Azerbaijan considers tighter currency controls to staunch losses 18 Jan 2016 - 04:08 pm

By Nailia Bagirova BAKU: Azerbaijan’s president, Ilham Aliyev, has ordered measures to support the economy and the ailing manat currency, including a possible...

Food aid, baobab on the menu as Zimbabwe struggles with drought 18 Jan 2016 - 12:01 pm

In this photo taken Thursday, Jan. 15, 2015, members of a family stand next to their grass-hut dwelling which was destroyed by the...

Amec Foster Wheeler says CEO Brikho steps down 18 Jan 2016 - 10:49 am

Amec Foster Wheeler Plc chief executive Samir Brikho Oil and gas services company Amec Foster Wheeler Plc said chief executive Samir Brikho is ...

China's yuan firms as central bank keeps pressure on speculators 18 Jan 2016 - 09:25 am

By Pete Sweeney and Samuel Shen SHANGHAI: China’s yuan firmed on Monday as the central bank announced what appeared to be its latest...

China growth slides to 25-year low in 2015: AFP survey 17 Jan 2016 - 04:02 pm

Workers chat outside a construction site in Beijing's central business district in this file photo. REUTERS Beijing: China recorded its lowest growth in...