The United States on Thursday threw its support behind World Bank chief Jim Yong Kim for a second term at the helm of the multilateral development lender.
"I am proud to announce that today the United States has nominated World Bank President Jim Kim for a second term," said US Treasury Secretary Jacob Lew in a statement.Full Story
Taiwan moved Thursday to toughen its anti-money laundering law after U.S. authorities fined a local bank linked to the so-called Panama Papers scandal.Full Story
Russia's largest lender Sberbank on Thursday announced it almost tripled its profits in the second quarter and predicted further stabilisation of the economy this year despite credit growth slowing.Full Story
Oil prices turned higher in Asian trade Thursday, a day after suffering hefty losses in response to data showing a surprise jump in U.S. stockpiles, while hopes for a deal to limit output were dealt a blow.
The U.S. energy department said Wednesday that inventories soared 2.5 million barrels last week, confounding forecasts for a fall and fanning worries about a global supply glut.Full Story
Qatar's sovereign wealth fund has bought an almost 10 percent stake in the company that owns New York's iconic Empire State Building, the official QNA news agency reported on Wednesday.Full Story
Mergers provided the major action on global equities markets on Monday as major indices showed little movement.
Medivation, which makes the hit prostate cancer drug Xtandi, soared 20 percent in New York on the announcement it would be bought by the pharmaceutical giant Pfizer for $14 billion.Full Story
The dollar remained at the low end of its recent range Monday as foreign exchange traders remained cautious despite somewhat hawkish weekend remarks by Federal Reserve Vice Chair Stanley Fischer.
At 2100 GMT, the dollar was virtually unchanged from late Friday at $1.1322 per euro and 100.32 yen, despite a surge during the day.Full Story
Taiwan is investigating a bank linked to the so-called Panama Papers scandal, in the wake of a $180 million fine levied by U.S. authorities for "flagrant disregard" of anti-money laundering laws.Full Story
Twice a year, a normally deserted border checkpoint high on the Tibetan plateau throngs with activity as traders from Nepal flock to do business with their giant northern neighbor China.Full Story