ATHENS: Greek lawmakers will vote this weekend on a controversial austerity bill that Athens needs to avoid a messy default but which is fuelling a domestic political and social crisis that has brought thousands of Greeks out on the streets in protest. The cabinet approved the draft bill late –…
NEW YORK: Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control next week. So far in this earnings season, 352 companies in the S&P 500 have reported results, of which only 63 percent have beaten Wall Street estimates. This…
NEW DELHI: With its tourism industry badly hit due to the political turmoil in the country, Egypt is now planning to launch aggressive campaigns in India with special corporate packages and is starting direct flights from Delhi. Cairo is even wooing Bollywood and has an interesting package for youngsters. Kicking…
WASHINGTON: A few months ago economists were all but certain the US economy would slow sharply at the start of this year, with many warning that recession risks were growing. That pessimism has been shaken off by a string of surprisingly solid data that paint a picture of an economy…
LONDON: Several British bankers have been arrested as part of an investigation into alleged tax-related criminal offences, the country’s customs and revenue service said, including some from Royal Bank of Scotland. “As a result of an ongoing HMRC investigation into tax-related criminal offences, HMRC has arrested a number of people,…
MUNICH: An Israeli raid on Iran’s nuclear facilities would deliver a painful shock to the global economy, revive flagging Islamist militancy and possibly drag the United States into a regional war whether it backed its ally’s attack or not. As if that prospect was not alarming enough, any doubts Tehran…
CAPE TOWN: China remains the focus at the world’s biggest mining conference that kicked off in Cape Town. The Asian powerhouse accounts for over 50% of the world’s iron ore imports while India is the third biggest exporter of iron ore to its neighbour. Industry insiders project that China will…
BEIJING: US retail giant Walmart named a new chief executive for its China operations, four months after the retailer’s former boss quit following a scandal over falsely labelled pork. Greg Foran — who has worked in the retail industry for 30 years and is a former senior executive of Australian…
BANGKOK: Asian stock markets were muted as talks dragged on to resolve a massive debt mess in Greece before it explodes into a wider financial crisis. Japan’s Nikkei 225 fell 0.2 percent to 8,916.09. South Korea’s Kospi rose 0.3 percent to 1,979.30 and Hong Kong’s Hang Seng was 0.6 percent…
TOKYO: Toyota Motor Corp a forecast-beating 51 percent rise in quarterly operating profit, defying the impact of a strong yen and Thai floods, and lifted its cautious annual forecasts closer to market expectations. For its October-December fiscal third quarter, operating profit at Japan’s top automaker was 149.7 billion yen ($1.95…
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