Foreign buyers are swooping on deserted villages in Sicily to snap up homes for as little as 10,000 euros ($13,000), propping up a property market in freefall as Italy suffers its longest-ever recession.
"When you go to the pizzeria now, you often meet more foreigners than Sicilians," said Salvatore Sansemi, mayor of Cianciana, near the southern city of Agrigento.Full Story
Visiting Chinese Premier Li Keqiang pledged on Tuesday to open up domestic markets to Indian businesses and narrow a gaping trade deficit between the two countries.
"As for Indian concerns over the trade deficit, the Chinese side is willing to provide facilitations for more Indian products to access the Chinese market," Li said during a speech to Indian business leaders in New Delhi.Full Story
Kuwait's vital oil sector has undergone a major reshuffle, with new executives appointed for the subsidiaries of Kuwait Petroleum Corp, after a new KPC chief was named, the national oil firm said Monday.
The decisions were taken at a meeting late Sunday by KPC board of directors headed by Oil Minister Hani Hussein, replacing all the top executives of the eight subsidiaries and other departments in the KPC.Full Story
Swedish fashion giant H&M is considering starting production in South America and Africa, chief executive Karl-Johan Persson told the Financial Times in an interview published on Monday.
"When that part of the world is growing, which it is, it becomes even more interesting to look at production in South America or Central America. So, we are exploring that opportunity ... We're looking at (Africa) as well," he said.Full Story
Asia's mobile revolution is set to transform the region's financial services industry, offering a cheap way for millions of migrant workers to send money home to their families, a report said on Monday.
Nearly 60 million migrant workers from the Asia-Pacific region sent almost $260 billion home to their families in 2012, according to the study, co-authored by the World Bank and the International Fund for Agricultural Development.Full Story
U.S. investment banking giant Goldman Sachs said Monday it will start investing in Japanese renewable energy projects, with a reported $2.9 billion outlay over the next five years.
The injection comes after Japan's government stepped into the green power market to set minimum prices in a bid to encourage the sector as the country seeks to rebalance its post-Fukushima energy mix.Full Story
Data released last week showed Greece entered its sixth straight year of recession, but there is now cautious optimism about the economy's prospects although unemployment is still hitting record highs and consumers are squeezed by pay cuts and tax hikes.
On Tuesday, Greece's battered debt ratings received a rare upgrade from Fitch which noted "clear progress" on eliminating deficits.Full Story
Tens of thousands of people joined a union-organized march in Rome Saturday, protesting against the new coalition government's austerity measures.
The metal workers union FIOM said the rally was to demand "the right to jobs, training and health care".Full Story
Slovenia on Saturday said it was confident its newly-adopted action plan would stabilize public finances and lead to an economic recovery, a day after international ratings agency Fitch downgraded the crisis-hit country by one notch.
"The consolidation of public finances will follow the objectives that have been clearly set. We will efficiently carry out all the necessary measures drawn in its stability and reform programs," Slovenia's finance ministry said in a statement in response to the downgrade.Full Story
Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.
Seattle-based Tableau Software Inc. provides software that helps businesses convert data into visual presentations.Full Story