First he handed out cash to victims of China's 2008 earthquake. Then he sold "canned fresh air" to residents of smog-ridden Beijing.
Now Chen Guangbiao, listed as one of China's 400 richest people and a man known as much for his publicity stunts as his wealth, claims he is in talks to buy the New York Times.Full Story
Oil production in South Sudan has slumped by about 15 percent since fighting erupted more than two weeks ago, industry sources said Tuesday.
South Sudan, whose economy is almost entirely dependent on oil, plunged into chaos on December 15 when President Salva Kiir accused his former deputy Riek Machar of mounting a coup, sparking deadly violence believed to have left thousands dead.Full Story
Turkey's deputy prime minister said on Tuesday the political turmoil sparked by a high-level corruption probe would not impact the government's forecast for economic growth.
Ali Babacan said in a television interview the projection for 2014 was for a 4.0 percent rise in gross domestic product, adding: "We have no reason to revise this target."Full Story
The eurozone aid program for struggling Spanish banks closed as scheduled on Tuesday after providing some 41 billion euros ($55 billion) to get them through the debt crisis, a statement said.
The support "has proven instrumental in recapitalizing and restructuring Spain's troubled banks, which are today on a sound footing," said Klaus Regling, head of the European Stability Mechanism, the fund set up to help eurozone countries at the height of the crisis.Full Story
Kuwait's provisional budget surplus shrank 15 percent in the first six months of the current fiscal year mainly due to a sharp jump in expenditures, the finance ministry said Tuesday.
The OPEC member posted a preliminary budget windfall of 10.7 billion dinars ($37.8 billion, 27.5 billion euros) in the period ending September 30, compared to 12.6 billion dinars in the corresponding period last year, according to figures posted on the ministry website.Full Story
Turkey's battered financial markets bounced back on Monday as the cabinet met for the first time since a major reshuffle by Prime Minister Recep Tayyip Erdogan, battling a damaging political crisis over a high-profile graft probe.
The lira rallied to 2.1396 against the US dollar in morning trading after it touched a record low of 2.17 last week as Erdogan, who has dominated Turkish politics for 11 years, faced mass protests and growing calls to resign.Full Story
Slovenian 12-month inflation dropped in December to 0.7 percent from 1.3 percent in November pulled down by seasonal discounts, official data showed Monday.
On a monthly basis, consumer prices also fell by 0.9 percent from November, after dropping by 0.1 percent from the previous month, the statistics office said.Full Story
Spanish national newspaper La Gaceta has scrapped its print edition, a spokeswoman said on Monday, as it fights to survive a financing crisis in the recession-damaged country's media.
"The paper edition has been closed" since Friday, said a spokeswoman for the strongly conservative newspaper, which was founded in 1989 and employs about 60 people.Full Story
Crocs Inc said late Sunday that the Blackstone Group is making a $200 million (145 million euros ) investment that will give it preferred stock and a 13 percent stake in the US-based shoe company.
The stock will have a six percent cash dividend rate, and at any time after three years from the issuance date, if the closing price of Crocs common stock equals or exceeds $29.00 for a period of 20 consecutive trading days, then the preferred stock shares will convert into shares of common stock, the statement read.Full Story
Bailed-out Greece is hoping to return to bond markets in the second half of 2014 -- but only if growth and a primary budget surplus permits, its finance minister said Sunday.
"We are preparing a return to the markets in the second half of 2014," Yannis Stournaras said in an interview published in the Realnews weekly.Full Story