Business
Latest stories
Kuwait Shuts Newspaper Critical of Government

Kuwait has scrapped the commercial license of leading newspaper al-Watan, which has been highly critical of the government, citing its failure to comply with legally required financial terms.

Al-Watan, owned by a member of the al-Sabah ruling family, said on its website, which was still operating, that it had challenged the decision in court.

W140 Full Story
India Court Tells Government to Unlock Greenpeace Cash

A court in New Delhi Tuesday ordered the government to unblock thousands of dollars of Greenpeace India's funds after they were frozen following accusations that foreign-funded campaign groups were hurting India's economy.

Prime Minister Narendra Modi's government tightened controls on foreign fund transfers to Greenpeace India in June following an intelligence report accusing activist groups of "stalling development projects" by protesting against power projects, mining and genetically modified food.

W140 Full Story
Turkey Central Bank Cuts Rate after Erdogan Pressure

Turkey's central bank on Tuesday pruned its main interest rate for the first time in six months, after President Recep Tayyip Erdogan vowed to pressure the bank into relaxing monetary policy to boost growth.

The bank said in a statement after its latest monetary policy meeting that the one-week repurchase rate would be dropped to 7.75 percent from 8.25 percent.

W140 Full Story
German Investor Confidence Up on 'QE Effect'

Investment sentiment in Germany hit an 11-month high this month on hopes the European Central Bank is about to roll out its heavy anti-deflation artillery, analysts said on Tuesday.

The widely watched investor confidence index calculated by the ZEW economic institute jumped 13.5 points to 48.4 points in January, its highest level in 11 months, ZEW said in a statement.

W140 Full Story
IMF Slashes 2015-2016 World Growth Forecast

The International Monetary Fund on Tuesday sharply cut its 2015-2016 world growth forecast of only six months ago, saying lower oil prices did not offset pervasive weaknesses around the globe.

The IMF said poorer prospects in China, Russia, the euro area and Japan will hold world GDP growth to just 3.5 percent this year and 3.7 percent in 2016.

W140 Full Story
Twitter Buys India Mobile Phone Startup ZipDial

Twitter said on Tuesday it will buy Indian mobile marketing firm ZipDial, reportedly for $30-$40 million, as it looks to tap one of the world's fastest growing mobile phone markets.

The U.S. social media giant, which did not disclose details of the deal, will take over the staff and offices of the firm, which is based in the southern Indian tech city of Bangalore.

W140 Full Story
Asia Markets Rise, China Growth Beats Forecasts

Asian markets mostly rose Tuesday after China released data showing its economy grew a little faster than expected, while speculation swirled that the European Central Bank would embark on a huge stimulus program.

The euro retreated against the dollar after a minor rally on Monday as traders also nervously awaited an close weekend election in Greece, where a far-left anti-austerity party is leading the polls.

W140 Full Story
Malaysia Trims Economic Sails in Wake of Oil Price Rout

Malaysia trimmed its 2015 growth forecast Tuesday and said its fiscal deficit would be wider than expected after the sharp fall in global oil prices threw a wrench in the petroleum-exporting nation's economic plans.

Prime Minister Najib Razak called the situation a "reality check" but assured Malaysians the country was not in trouble, unveiling measures he said would keep Southeast Asia's third-largest economy moving forward.

W140 Full Story
Fury in Pakistan as Petrol Crisis Brings Roads to a Halt

Prime Minister Nawaz Sharif on Monday expressed extreme displeasure over Pakistan's severe petrol shortage, forcing the petroleum minister to apologies for a crisis that has brought parts of the nation to a standstill.

The shortage began last week, first hitting Pakistan's central Punjab province and the capital Islamabad, and spreading Monday to northwestern Khyber Pakhtunkhwa province and parts of the country's biggest city, Karachi.

W140 Full Story
Danish Central Bank Cuts Deposit Rate as Euro Weakens

Denmark's central bank cut its deposit rate further into negative territory Monday as market players speculated the country could follow Switzerland's example and remove its currency peg against the euro.

The deposit rate, which was cut to below zero in September for the first time since 2012, was reduced to -0.2 percent from -0.05 percent.

W140 Full Story