Business

China's top two train makers confirm merger 30 Dec 2014 - 08:57 pm

Two train makers merge in China to avoid competitive bidding HONG KONG - China's top two bullet train makers will merge, state media...

Ukraine economy shrank 7.5% in 'worst year since WWII' 30 Dec 2014 - 08:18 pm

Valeria Gontareva, Ukraine's new central bank chief KIEV - Ukraine's central bank chief on Tuesday said the strife-torn country's economy contracted by 7.5...

German, French bond yields at record low on Greek fears 30 Dec 2014 - 07:59 pm

Eurozone bond yields slide to record lows PARIS - The borrowing costs of Germany, France, Spain and Italy hit new record lows on...

Former US senator to head cannabis company 30 Dec 2014 - 07:56 pm

Former US senator Mike Gravel WASHINGTON - Former US senator Mike Gravel has been appointed as the head of cannabis company Kush, which...

Kosovo adopts 2015 budget, eyes 4 percent growth 30 Dec 2014 - 07:50 pm

Government of Kosovo approved the draft budget for 2015 PRISTINA - Kosovo, one of the poorest parts of Europe, has approved a 2015...

European stocks slide on lower oil prices, Greece 30 Dec 2014 - 06:57 pm

European stocks slide on lower oil prices and political turmoil in Greece LONDON - European stock markets fell on Tuesday as traders reacted...

US stocks dip as Greece uncertainty weighs 30 Dec 2014 - 06:41 pm

Five minutes into trade, the Dow Jones Industrial Average stood at 18,008.31 NEW YORK - US stocks were slightly slower in opening trade...

Airbus, AgustaWestland, Sikorsky vie for Polish chopper deal 30 Dec 2014 - 06:07 pm

WARSAW - Helicopter makers AgustaWestland, Airbus Helicopters and Sikorsky Aircraft have submitted bids on a big-ticket Polish chopper deal to replace Soviet-era military...

Sanction-hit Russian state bank VTB receives $1.8 bn aid 30 Dec 2014 - 05:57 pm

VTB has asked for up to 200bn roubles more capital from state funds, Russian business newspaper Vedomosti said last month MOSCOW - Russia's...

US home prices continue to flatten in October 30 Dec 2014 - 05:40 pm

Housing prices are expected to continue to flatten WASHINGTON - US home prices continued to flatten out in October, with the year-on-year rise...

Ukraine eyes IMF credit lifeline in early 2015 30 Dec 2014 - 04:00 pm

Residents queue to receive humanitarian aid in the eastern Ukrainian city of Donetsk on December 11, 2014 KIEV-- Ukraine expects the International Monetary...

Japan's ruling parties agree to cut corporate taxes 30 Dec 2014 - 09:48 am

TOKYO--Japan's ruling coalition agreed on Tuesday to cut the corporate tax rate, one of the world's highest, as a key part of Prime...

Ukraine adopts IMF-backed budget 30 Dec 2014 - 05:02 am

Ukraine’s Prime Minister Arseniy Yatsenyuk (right) reacts during a session of parliament in Kiev. KIEV: Ukraine’s parliament yesterday adopted an austerity budget that...

Russia suffers its first contraction since 2009 30 Dec 2014 - 05:00 am

MOSCOW: Russia’s economy shrank sharply in November and the rouble resumed its slide yesterday as Western sanctions and a slump in oil prices...

China for deals to recover dirty assets 30 Dec 2014 - 04:58 am

BEIJING/WASHINGTON: China is looking at signing an agreement with the United States to target assets illegally taken out of China by corrupt officials,...

Lithuania adopts euro to cement Western ties 30 Dec 2014 - 04:56 am

VILNIUS: Lithuania hopes joining the eurozone on January 1 will boost its security at a time of heightened anxiety over Russia, but many...

GIS board to have four private sector members 30 Dec 2014 - 12:58 am

GIS Vice-Chairman Saeed Mubarak AI Mohannadi (third right) with other board members during the Extraordinary General Assembly Meeting of the company yesterday. Kammutty...

IMF suspends aid talks with Greece ahead of elections 29 Dec 2014 - 08:52 pm

WASHINGTON - The International Monetary Fund said Monday it was suspending talks on a new disbursement of financial aid to Greece until a...