Business
Latest stories
Greece Pays Increased Rate to Borrow for Six Months

Greece raised 1.625 billion euros ($2.14 billion) for six months at an increased interest rate of 4.95 percent on Tuesday, the Greek debt management agency said.

At the last such auction on November 8, Greece had paid a rate of 4.89 percent.

W140 Full Story
Rose Champagne Steals March on Classic Bubbly

Do you take your champagne brut or rose? Around the world the French sparkling wine is still the ultimate festive drink, but these days it often comes in shades of golden pink to pomegranate.

First seen as a quirky variation on classic white bubbly -- even dismissed as a "woman's drink" -- rose champagne has grown into far more than a fad, with a market share that has been rising steadily for 10 years.

W140 Full Story
Eurozone Banks Deposit Funds Heavily at ECB

Eurozone banks deposited the biggest amount of overnight funds at the ECB for more than a year on Monday, official data showed on Tuesday in a signal of banks' wariness of lending to each other.

Banks put 346.36 billion euros ($446 billion) on deposit for 24 hours at the European Central Bank, the highest amount since June 2010.

W140 Full Story
Kuwait Says OPEC Unlikely to Change Output Levels

Kuwait’s oil Minister Mohammad al-Baseeri said on Tuesday that OPEC will likely keep its official production quotas unchanged, while Iran’s oil minister Rostam Qasemi said that they would reach consensus over its latest output decision, in contrast to its last meeting which was hit by deep division among cartel members.

Qasemi had told reporters on arrival in Vienna, where the 12-nation Organization of Petroleum Exporting Countries holds its production meeting on Wednesday, "Whatever the decision will be, it will be made all together."

W140 Full Story
Etihad Buys 12 More Boeing Jets in $2.8B Deal

Fast-growing Gulf carrier Etihad Airways says it is buying 10 more of Boeing's new 787-9 planes, making it the largest customer for that version of the aircraft.

Etihad said on Monday it is also ordering two Boeing 777 cargo planes.

W140 Full Story
S. Korean Developer to Keep 'Twin Towers' Design

A South Korean developer said Monday it would not alter the design of a twin-tower project despite complaints in the United States that it mimics the explosions at New York's World Trade Center in 2001.

The towers, one with 54 floors and the other with 60, are designed by Dutch architects MVRDV and will be built at the entrance to Seoul's redeveloped Yongsan business district by 2016.

W140 Full Story
Euro Falls after Rallying on Euro Debt Talks

The euro fell against other major currencies in Asia on Monday as investors awaited further details on measures to tackle the Eurozone debt crisis following an EU summit deal struck last week.

The euro bought $1.3340 and 103.57 yen in Tokyo afternoon trade, down from $1.3384 and 103.93 yen late Friday in New York, where the common European currency rose on the tentative fiscal pact struck by European Union leaders.

W140 Full Story
Oil Lower Despite EU Deal to Save Eurozone

Oil weakened in Asian trade Monday as investors remained cautious despite European leaders announcing a deal aimed at saving the Eurozone, analysts said.

New York's main contract, light sweet crude for January delivery, dropped 25 cents to $99.16 a barrel and Brent North Sea crude for January delivery fell 39 cents to $108.23.

W140 Full Story
Italian Women Rally Against 'Macho Culture'

Thousands of Italian women rallied on Sunday, demanding greater rights and an end to discrimination and blaming the country's "macho culture" for its current crisis.

Their demonstration follows on from mass protests in February when women said "basta" to then-president Silvio Berlusconi, known for his playboy antics and now on trial for paying for sex with a 17-year-old escort.

W140 Full Story
Central Bank Says China to Adopt IMF Reforms 'as Appropriate'

The head of China's central bank says the country will implement changes to its financial system suggested by the International Monetary Fund "as appropriate", the Washington-based lender said.

People's Bank of China (PBOC) governor Zhou Xiaochuan told a joint PBOC-IMF symposium held Friday and Saturday in Shanghai that international financial standards were "critical" to reducing risk, the IMF said in a statement.

W140 Full Story