Amazon's profitless path

Twenty years ago today Amazon sold its first book, created the first online book store and went on to become a hugely profitable internet superpower. Today it's celebrating that anniversary with Amazon Prime day, 24 hours of special offers which will be the biggest day of e-commerce the world has ever seen.
15 July 2015, 18:00 PM

Sri Lanka seeks new funding sources in shift away from ally China

Sri Lanka is seeking cheaper funding sources to replace billions of dollars in debt from Chinese banks, government officials said, as the six-month-old government distances itself from Beijing weeks before a general election.
15 July 2015, 18:00 PM

Former-HSBC boss regrets mistakes made with Swiss, Mexican deals

HSBC should have made deeper checks before buying a Swiss private bank that allegedly allowed customers to dodge taxes and a Mexican business that breached anti-money laundering rules, its former chairman said.
15 July 2015, 18:00 PM

Asia Inc looks to post-sanctions Iran for demand spurt

From steelmakers to construction firms, industrial companies in Asia hope an end to sanctions in Iran can provide a new source of sorely-needed demand.
15 July 2015, 18:00 PM

British unemployment in surprise rise

Britain's unemployment rate climbed to 5.6 percent in the quarter ending in May, with the number of jobless up for the first time in over two years, data showed Wednesday.
15 July 2015, 18:00 PM

Oil prices fall back after Iran-fuelled gains

Oil futures slid Wednesday as markets started to price in the impact on supplies of Iran's historic deal with Western powers regarding the Islamic republic's suspected nuclear ambitions.
15 July 2015, 18:00 PM

Bank of Japan cuts growth forecast

Japan's central bank on Wednesday cut its annual growth and inflation forecasts for the world's third-largest economy, with analysts warning weaknesses remained and the downgrade hinted at a disappointing second quarter.
15 July 2015, 18:00 PM

Yellen sticks to 2015 timeline for first US rate hike

FEDERAL Reserve Chair Janet Yellen stuck to her forecast for an increase in the Fed's key interest rate later this year on Wednesday, predicting a pickup in the US economy.
15 July 2015, 18:00 PM

Toshiba CEO to quit in accounting scandal

Toshiba Corp expects 300-400 billion yen ($2.4-3.2 billion) in charges related to improper accounting in an expanding probe that is set to force Chief Executive Hisao Tanaka to step down, sources familiar with the matter said on Wednesday.
15 July 2015, 18:00 PM

Toyota recalls 625,000 hybrid cars globally

Toyota recalls 625,000 hybrid vehicles globally, mostly the Prius model favoured by the eco-conscious including Hollywood celebrities, over a defect that can bring the car to an unexpected stop.
15 July 2015, 15:18 PM

Oil prices down in Asia as Iran deal looms

Oil prices fell in Asia Monday as Iran and major western powers said they were closer than ever to a landmark nuclear deal that would lift sanctions and see Tehran's crude exports return to global markets.
13 July 2015, 18:00 PM

For Indians, paper gold can't beat the real thing

India is meeting stiff resistance in its drive to make the buying of gold jewellery more transparent and to channel demand into paper gold to stop the metal being used to hide billions of dollars of undeclared 'black money'.
13 July 2015, 18:00 PM

Thailand ignites solar power investment in Southeast Asia

Come December, Thailand will have more solar power capacity than all of Southeast Asia combined as record sums of money is poured into the sector in the hopes of nurturing a new energy source to help drive the region's second-biggest economy.
13 July 2015, 18:00 PM

Greece debt crisis: What's the deal?

EUROZONE leaders have reached agreement over a third Greek bailout after marathon talks in Brussels.
13 July 2015, 18:00 PM

Relief and much anger in Greece

GREEKS greeted news of a deal with creditors on Monday with a measure of relief mixed with much anger, particularly at Germany, after it became clear Greece will have to swallow more austerity that could fracture the government and spark a backlash.
13 July 2015, 18:00 PM

India inflation rises higher than expected in June

India's inflation rate rose faster than analysts' expectations in June, official data showed Monday, dampening hopes of further interest rate cuts by the country's central bank later this year.
13 July 2015, 18:00 PM

Foreign firms compete in historic Mexico oil auction

US, European and Asian energy firms will compete Wednesday in Mexico's first oil auction since a historic reform brought back private investors, nearly 80 years after they were kicked out.
13 July 2015, 18:00 PM

12 banks to give new notes until July 16

People can swap their old banknotes for new notes ahead of the EId festival next week under a special initiative of Bangladesh Bank.
13 July 2015, 18:00 PM

Stocks largely stable

Stocks remained mostly stable yesterday amid expectations of positive earnings declarations by listed firms.
13 July 2015, 18:00 PM

First garment factory building retrofitted against earthquakes

Japanese experts teamed up with local engineers to make a garment factory in Ashulia more earthquake-resistant by systematic retrofitting.
13 July 2015, 18:00 PM