Saudi Arabia draws $67b demand for first international bond

Saudi Arabia attracted massive investor demand of about $67 billion on Wednesday for its first international bond offer, as the world's top crude exporter allayed concern about the impact of low oil prices on its finances.
19 October 2016, 18:00 PM

Foreign airlines cut flights to Abuja as currency crisis deepens

Two international airlines have announced plans to suspend flights to the Nigerian capital Abuja by next month due to falling demand as a currency crisis in Africa's top economy deepens.
19 October 2016, 18:00 PM

China wins WTO ruling against US dumping rules

China won the bulk of its complaint against the United States in a ruling on Wednesday by a World Trade Organization dispute panel, after challenging US rules on "dumping" of goods.
19 October 2016, 18:00 PM

Indian police fear US tax scam spread across country

A multi-million-dollar racket that used fake Indian call centres to trick US citizens into paying bogus tax bills may be the tip of the iceberg, with police warning similar scams could be operating across the country.
19 October 2016, 18:00 PM

Saudi chemical giant reports 6.8pc fall in Q3 profit

SAUDI petrochemical giant SABIC on Wednesday reported a 6.8 percent drop in net profit for the quarter ended September 30, compared with the same period last year.
19 October 2016, 18:00 PM

British jobless rate holds at 4.9pc despite Brexit

BRITAIN'S jobless rate held at 4.9 percent in the three months to the end of August, official data showed Wednesday, signalling little impact thus far from the shock Brexit vote.
19 October 2016, 18:00 PM

Chaos-ridden Libya's economy on the brink, say experts

Political stalemate and the conflict rocking Libya are preventing the North African country from taking advantage of its vast oil resources and pushing the economy towards collapse, experts say.
19 October 2016, 18:00 PM

Property and credit booms stabilise China growth

Chinese growth stabilised in the third quarter, data showed Wednesday, as ample credit and hot property markets propped up the world's second-largest economy.
19 October 2016, 18:00 PM

Spending cuts a must in Gulf despite oil recovery: IMF

A modest recovery in oil prices falls short of filling budgetary gaps in crude-exporting Gulf countries, the International Monetary Fund said, stressing the need to cut spending.
19 October 2016, 18:00 PM

Japan's Fujitsu eyeing PC merger with China's Lenovo

Shares in Japanese IT giant Fujitsu soared Thursday on news it is considering merging its struggling personal computer division with China's Lenovo, the world's biggest PC maker.
6 October 2016, 18:00 PM

German sees sharp rise industrial orders

German industrial firms recorded a sharp uptick in orders in August, official data showed on Thursday, outdoing analyst forecasts and reducing fears of an autumn slowdown in Europe's biggest economy.
6 October 2016, 18:00 PM

Iran, Vietnam pledge $2b trade boost

Vietnam and Iran pledged Thursday to boost future trade to $2 billion, as Tehran seeks to jump-start its sputtering economy after crippling international sanctions were lifted this year.
6 October 2016, 18:00 PM

Norway dips deeper into oil riches

Norway plans to spend a record amount of its oil riches next year -- an election year -- to stimulate its economy hit hard by oil price weakness, a budget bill presented Thursday showed.
6 October 2016, 18:00 PM

Protectionism's rise a balancing act for World Bank, IMF

Protectionism's rise in Europe and the United States is pushing the world's economic leaders toward a delicate balancing act: defending globalization but acknowledging the pain that sometimes comes with it.
6 October 2016, 18:00 PM

German new car sales see big jump in September

German new car sales increased sharply in September for the second month in a row, official data showed on Wednesday. The KBA transport authority recorded 298,002 new cars on the road in September, an increase of 9.4 percent over the same month in 2015.
5 October 2016, 18:00 PM

Sri Lanka to pay $115m for cancelling planes

Sri Lanka's cash-strapped national carrier said Wednesday it will pay a penalty for cancelling leases on four Airbus A350s, with official sources putting the figure at about $115 million.
5 October 2016, 18:00 PM

Controversial Indonesian tax amnesty proves divisive

Indonesia has hailed a tax amnesty as a major success after it raised more than $7 billion in its first few months, but criticism is mounting that the controversial scheme lets the super-rich off the hook.
5 October 2016, 18:00 PM

Switzerland pressures Malaysia over 1MDB 'Ponzi scheme'

Switzerland on Wednesday raised the pressure on Malaysia to cooperate with its probe into scandal-tainted 1MDB, saying new evidence indicated a "Ponzi scheme" was used to cover up $800 million in misappropriations from the Malaysian state fund.
5 October 2016, 18:00 PM

India to cooperate with Bangladesh on LPG issues

Bangladesh yesterday sought India's assistance in setting up of a network for supplying liquefied petroleum gas (LPG) to high-rise buildings and apartments, cooperation in the field of bio-fuels and training of its personnel in hydrocarbon sector.
5 October 2016, 18:00 PM

Oil hits highest since June

Oil rose towards $52 a barrel on Wednesday, hitting its highest since June, supported by an industry report that U.S. inventories probably fell for a fifth straight week and Opec's deal to cut supply.
5 October 2016, 18:00 PM