Latest International Business News
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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Largest genetic sequencing study of human disease completed
A global team of scientists has completed the largest sequencing study of human disease to date, investigating the genetic basis of six autoimmune diseases. The exact cause of these diseases - autoimmune thyroid disease, coeliac disease, Crohn's disease, psoriasis, multiple sclerosis and type 1 diabetes- is unknown, but is believed to be a complex combination of genetic and environmental ...
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UN urges collective efforts to achieve water secure world on Day for Biological Diversity
22 May 2013 150 Unless greater efforts are made to reverse current trends, the world will run out of freshwater, the United Nations said today marking the International Day for Biological Diversity and urging stronger scientific alliances to understand and protect natural resources. "We live in an increasingly water insecure world where demand often outstrips supply and where water quality ...
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World motorsport chief to visit Botswana
The president of the world motorsport governing body, Federation Internationale de I' Automobile (FIA), Jean Todt is scheduled to visit Botswana in August, Botswana Motorsport Association (BMSA) has confirmed. BMSA secretary general Joseph Khengere said Tuesday they had been in consultations with the FIA since affiliating to them earlier this year and the president will pay a visit to Botswana, ...
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Oz women cricketers Down Under on top of world after hefty pay-hike
Cricket Australia (CA) has announced that the country's top female cricketers will now earn up to 80,000 dollars within a year. The women team has won Women's World Cup and the T20 trophy, prompting CA to consider female cricket as professional, News.com.au reports. CA chief executive James Sutherland compared the women's cricket team to the men's cricket club, saying that the association ...
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Govt. determined to put effective financial regulatory system in place Chidambaram
Finance Minister P. Chidambaram on Wednesday said that making laws in the country is not an easy task, and added that this has become even more difficult due to the legitimization of obstructionism as a parliamentary tactic in the coalition era. Addressing a seminar on the 'Indian Financial Code' (IFC) which was framed by Financial Sector Legislative Reforms Commission (FSLRC) with a view to ...
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Trinindad Football hints at probe to uncover missing funds
The Trinidad and Tobago Football Federation (TTFF) has hinted that an investigation could be launched into unaccounted revenues generated by the federation from World Cup 2006. President of the TTFF Raymond Tim Kee announced Tuesday that a probe is being considered during a press conference at the Hasely Crawford Stadium, reports CMC. "From our understanding, TTFF is very much a part of ...
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U.S. to collaborate with India on developing global approach to combat terrorism
The United States has pledged to collaborate with India on developing a global approach to combat increasing terror threats. After the India-US Homeland Security Dialogue in Washington, a joint communique said the two countries have also agreed to enhance bilateral co-operation to combat terror financing and currency counterfeiting. Home Minister Sushil Kumar Shinde led a high-powered Indian ...
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Casual sex after split could help heal broken hearts
The first order of business after a split is by getting involved in some casual sex, according to experts. However, casual sex to some is fine only if the two have truly, emotionally, moved on, the Huffington Post reported. It could be good idea, as it helps you to forget that you have been sleeping with a jerk before. As long as it is protected there is problem at all. It's part of the ...
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Oliver tops 110m hurdles at World Challenge Beijing
With the absence of Chinese star Liu Xiang, American David Oliver topped the men's 110-metre hurdles at the 2013 IAAF World Challenge Beijing here, while China's Li Jinzhe continued his good form and grabbed a second win in the men's long jump. Oliver, bronze medallist in the event at the 2008 Beijing Games, held off the challenge of London Olympic runner-up Jason Richardson and Jamaica's ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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245 South Koreans have paper companies
A total of 245 South Koreans were confirmed to have established paper companies in safe havens in a bid to avoid tax payment, an independent South Korean media said Wednesday. The Newstapa announced that it found 245 South Koreans set up paper companies in safe havens between 1995 and 2009 after analyzing information related to paper companies jointly with the International Consortium of ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Lenovo shares jump more than 4 percent after earnings beat forecast
Reuters © A convertible Lenovo Ultrabook is displayed at an Intel news conference during the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Steve ...
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China Manufacturing Contracts As New Orders Slump
health of the factory sector, fell to a seven-month low of 49.6 in May from 50.4 in April. Readings below 50 indicate contraction of the sector. Economists expected the index to remain unchanged from March's level. New orders decreased in May reversing April's gains, while the rate of decline in export orders slowed. Manufacturers shed jobs at a faster pace this month, the survey ...
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Chinas manufacturing slows to 7-month low HSBC
China's manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed.The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for May fell to 49.6 in May, dropping under the boom-bust line of 50 for the first time since October, according to figures released by HSBC on Thursday.Qu Hongbin, chief economist of the HSBC ...
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Aging Asia to strain worlds long-term economic growth think-tank
The Asia-Pacific region will continue to power global economic growth in 2013, but the region's increasing aging population will cast a shadow on the long-term development, according to a Canadian think-tank."Productivity gains and a large, young working-age population have done much to boost Asian economic growth over the past three decades. But Asia's demographic dividend is ...
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McNerney Boeing will squeeze suppliers and cut jobs
Boeing Chief Executive Jim McNerney, acknowledging that "I’m sounding like Darth Vader here," touted plans Wednesday to reduce costs by squeezing suppliers hard and cutting jobs across the ...
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