Tesla cuts Model 3 price for second time this year

Tesla Inc said on Wednesday it was lowering the price of its Model 3 sedan for the second time this year, moves that come in the wake of Tesla losing a tax credit that made its cars more affordable for US buyers.
6 February 2019, 18:00 PM

France to tighten 5G security: minister

France will soon make proposals to reinforce the security of mobile telephone networks, Economy Minister Bruno Le Maire said Wednesday after the US stepped up pressure on Europe to block China's Huawei from building 5G networks.
6 February 2019, 18:00 PM

China says US report on its WTO compliance lacks factual basis

China opposes a report by the US Trade Representative's office on its World Trade Organization (WTO) compliance, the commerce ministry said, saying it is inconsistent with the facts.
6 February 2019, 18:00 PM

EU derails train-maker merger, reaping France's fury

The EU's powerful anti-trust sheriff, Margrethe Vestager, vetoed the merger of the Siemens-Alstom rail businesses on Wednesday, in defiance of Germany and France.
6 February 2019, 18:00 PM

Bet everything on electric: Inside Volkswagen's radical strategy shift

If Volkswagen realizes its ambition of becoming the global leader in electric cars, it will be thanks to a radical and risky bet born out of the biggest calamity in its history.
6 February 2019, 18:00 PM

Red ink alert: Hundreds of Chinese firms warn on profits

Hundreds of listed Chinese companies have slashed their forecasts for 2018 earnings this week in a sign that an economic slowdown and worries over US-China trade friction are beginning to bite.
31 January 2019, 18:00 PM

S Korea to combine world's two biggest shipbuilders

Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.
31 January 2019, 18:00 PM

Central banks buy most gold since 1967

A surge in gold purchases by central banks to the highest since 1967 helped push global demand for the metal up 4 percent last year, the World Gold Council (WGC) said on Thursday.
31 January 2019, 18:00 PM

H&M blames online investment for latest profit decline

Sweden's H&M disappointed investors with a 10 percent tumble in quarterly profit, the world's second largest fashion retailer blaming investment aimed at boosting its online business for the decline.
31 January 2019, 18:00 PM

India's jobless rate hit 45-year high in 2017-18

An official survey that has been withheld by the government shows India's unemployment rate rose to a 45-year high during 2017-2018, the Business Standard newspaper reported on Thursday, delivering a blow to Prime Minister Narendra Modi just months before what is expected to be a closely fought general election.
31 January 2019, 18:00 PM

Italy slides into recession

The Italian economy contracted in the fourth quarter of 2018, dragged down by slowing European growth and global trade tensions, plunging the country into a technical recession, official data showed Thursday.
31 January 2019, 18:00 PM

Cracks appear in China economy

Cracks are opening in China's mighty economy: investors are backing away from deals, factories are moving abroad and companies are shedding jobs.
27 January 2019, 18:00 PM

Saudi seeks to attract $427b

Saudi Arabia aims to attract private sector investments worth 1.6 trillion riyals ($427 billion) over the next decade through an industrial development programme aimed at diversifying the economy, Energy Minister Khalid al-Falih said on Saturday.
27 January 2019, 18:00 PM

Russia says oil price war with US would be too costly

Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with Opec said.
23 January 2019, 18:00 PM

China says it will step up fiscal spending to support economy

China will step up fiscal spending this year to support its economy, focusing on further cuts in taxes and fees for small firms, finance ministry officials said on Wednesday.
23 January 2019, 18:00 PM

Cloud, services fuel IBM's profit forecast

IBM Corp beat Wall Street quarterly earnings estimates and also forecast 2019 profit above expectations on Tuesday, in the latest indication that Chief Executive Officer Ginni Rometty's efforts to turn around the technology services company were gaining traction.
23 January 2019, 18:00 PM

India approves $400m currency swap for Saarc nations

India yesterday approved an amendment to a “Framework on Currency Swap Arrangement among Saarc member-countries” to incorporate a “Standby Swap” amounting to $400 million to guard against global economic volatility.
23 January 2019, 18:00 PM

China's coal output hits highest in over three years

China's December coal output climbed 2.1 percent from the year before, government data showed, hitting the highest level in over three years as major miners ramped up production amid robust winter demand and after the country started up new mines.
21 January 2019, 18:00 PM

European power firms aim to harness electric car batteries

Ever wanted to run your electric car for free? If you're open to a bit of give and take, then stay plugged in and your wishes might come true. At least that's what some European power companies and Japanese carmakers believe.
21 January 2019, 18:00 PM

Novoair gets safety rating from int’l agency

Novoair received three stars from Airline Ratings for its safety standards, a first for a local private airline.
21 January 2019, 18:00 PM