Russia has long had a problem with capital flight, but this time entrepreneurs are also fleeing given that President Vladimir Putin appears to be turning the screws as the dispute with the West over Ukraine drags on.
Full StoryRussia's ruble plunged on Monday, reaching an all-time low of more than 40 rubles to the dollar.
The ruble slumped to 40.05 to the dollar shortly after Moscow markets opened, the first time the Russian national currency weakened beyond the psychologically important rate of 40 to the dollar.
Full StoryEuro Disney, which runs Disneyland Paris, one of Europe's top tourist attractions, announced Monday it was receiving a billion-euro refinancing package to overcome a crisis after a drastic fall in visitor numbers.
The news sent shares in the company plummeting by as much as 21 percent on the Paris stock market, which was marginally in positive territory overall.
Full StoryIn his high-rise office in Beirut, Sandro Saade carefully chews a merlot grape from a vineyard hundreds of miles away in war-ravaged Syria, trying to determine if it is ripe enough to order the start of the harvest.
It's too dangerous for him to travel to the vineyards of Domaine de Bargylus, which is nestled in verdant hills where wine has been produced since ancient times. But despite the bloody conflict and the threat of Islamic extremists, he is determined to produce world-class wines, and to help preserve a Levantine cosmopolitanism imperiled by decades of war.
Full StoryBritish property prices will fall in 2015 following a steep rise over this year, according to a leading forecaster the Center for Economics and Business Research (CEBR).
Researchers predict prices to fall 0.8 percent year-on-year in 2015, as the Bank of England is widely expected to raise interest rates from a historic low base level of 0.5 percent.
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Protests in Hong Kong could hurt the city's economy -- as well as China's -- but the impact will depend on how long the "uncertainty" lasts, the World Bank's chief Asia economist said Monday.
Full StoryTaiwan's tech giant Hon Hai plans to boost its research and development capabilities at its headquarters, with founder Terry Gou saying up to 5,000 engineers will be hired in two years, local media reported Sunday.
Gou on Saturday unveiled his vision outside Taipei city while stumping for a politician campaigning for a local election next month, the Commercial Times and Economic Daily News reported.
Full StoryTwo years after losing its place as the world's biggest rice exporter, Thailand is eyeing a return to the top spot as the impact of a bungled subsidy scheme eases and it sells cheaper grain to a grateful global market.
The subsidy, which offered farmers up to 50 percent above market rates for their rice, helped former premier Yingluck Shinawatra win the rural votes she needed to take office in 2011.
Full StoryFrom bargain fakes and cheap technology to high-end designer wear, Hong Kong is a shopper's paradise -- but retailers have taken a huge hit from week-long mass protests that have brought the city to a standstill.
Major shopping areas have been barricaded off by protesters who have camped out for the last seven days to pressure Beijing to revoke their decision to limit who can stand in the city's next leadership election -- a move protesters have labelled a "fake democracy".
Full StoryExecutives from Renault-Nissan and Daimler AG say their expanding partnership is on track and pledged to further grow the business.
Renault Nissan's Carlos Ghosn and Daimler's Dieter Zetsche said at the Paris Motor Show that the partnership has expanded four-fold to 12 projects in Europe, Asia and North America, from three when the partnership began in 2010.
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