Business
Latest stories
Italy Opens Bidding for Polluting Steel Giant Ilva

Italy has launched a tender to find a buyer for the Ilva steel works, one of the most polluting industrial sites in Europe, giving national and international shoppers a month to make their offers.

The government's call for bidders was published in several Italian and foreign dailies on Tuesday, notably in the United States and Britain. Would-be buyers have from January 10 to February 10 to submit offers, individually or in an alliance.

W140 Full Story
Eurozone Inflation Unchanged at 0.2 Percent in December

Eurozone inflation remained unchanged at a lower than expected 0.2 percent in December, official data said on Tuesday, adding pressure on the European Central Bank to ramp up its efforts to boost the economy in Europe.

The data from the EU's Eurostat statistics agency came in below analysts' forecast of 0.3 percent inflation for the period, which is itself much lower than the ECB's official two percent target.

W140 Full Story
N. Korea Foreign Minister Ri to Attend WEF in Davos

North Korea will send a delegation to the World Economic Forum for the first time in 18 years, with Foreign Minister Ri Su-Yong scheduled to attend this month's meet in Davos, an official said Tuesday.  

"He's coming," North Korea's permanent representative to the United Nations in Geneva, So Se-Pyong, told Agence France Presse when asked to confirm reports circulating in South Korean media about Ri's trip. 

W140 Full Story
France's Orange, Bouygues Confirm Talks on Possible Tie-Up

French telecoms operators Orange and Bouygues both confirmed Tuesday in separate statements that they were were in "discussions" with a view to a possible tie-up.

Orange announced it had "renewed preliminary discussions" with Bouygues, while the company headed by Martin Bouygues said in its statement that "a confidentiality agreement" had been signed Tuesday by the two groups.

W140 Full Story
Oil Prices Rebound in Asia as Saudi-Iran Row Deepens

Oil prices rebounded in Asia Tuesday as a diplomatic row between Saudi Arabia and Iran deepened, but a global crude supply glut and economic weakness in China are keeping any increases in check.

Tensions between the two major oil producers over Saudi Arabia's execution of a prominent Shiite cleric have erupted into a full-blown diplomatic crisis after Riyadh and its Sunni Arab allies cut or reduced ties with Iran, sparking global concern.

W140 Full Story
Oil Prices Rise after Saudi Arabia Cuts Ties with Iran

Oil prices rose in Asia Monday after crude kingpin producer Saudi Arabia cut diplomatic ties with Iran following a row over the Saudi execution of a Shiite cleric.

Saudi Arabia announced the decision Sunday, a day after protesters ransacked its embassy in Tehran over the execution of the cleric, Sheikh Nimr al-Nimr.

W140 Full Story
Greece Defiant on Pension Cuts ahead of Key Talks with Creditors

Greece's prime minister on Sunday said his government will not give in to "unreasonable" demands as the debt-ridden country braces for critical negotiations with international creditors on the thorny issue of pension reform. 

The warning came just days after Athens got one billion euros under the terms of its third bailout programme.  

W140 Full Story
Macau Gaming Revenue Falls 34% in 2015

Macau's gambling revenue ended 2015 with a whimper, falling for a second straight year as China's corruption crackdown continued to keep high rollers from the Asian gaming hub.

Revenue slid 34.3 percent to a five-year low of 230.84 billion patacas ($28.92 billion), according to numbers released by Macau's Gaming Inspection and Coordination Bureau. Gaming revenue fell 2.6 percent in 2014.

W140 Full Story
Russia Announces Lawsuit against Ukraine over Default on $3-Billion Debt

Russia's finance ministry said Friday it was suing Ukraine for defaulting on a $3-billion debt to Moscow, following an order by President Vladimir Putin.

Kiev is "in a state of default" regarding its obligations toward Moscow and legal proceedings would ensue, the ministry said.

W140 Full Story
Reports: Japan's ANA Airline in Billion-Dollar Airbus Deal

Japan's All Nippon Airways is buying three Airbus A380s in a billion-dollar deal, business daily Nikkei said Friday, making it the first Japanese carrier to own the superjumbo jet.

The Japanese airline plans to introduce the double-decker planes on flights to Hawaii and other overseas destinations, in an effort to boost its international business.

W140 Full Story