Asia hit hard as Australia slashes foreign aid budget

Australia has slashed its foreign aid budget by almost Aus$1.0 billion (US$800 million) with Asian and African countries bearing the brunt, according to budget papers released Tuesday.
12 May 2015, 18:00 PM

China auto sales down in April

Auto sales in China, the world's largest car market, fell 0.5 percent year-on-year to 1.99 million vehicles in April, an industry group said Monday.
11 May 2015, 18:00 PM

Oil prices retreat on strong dollar

Global oil prices dipped Monday as investors took their cue from the rebounding dollar, awaited fresh US economic data and digested another Chinese interest rate cut.
11 May 2015, 18:00 PM

Greece seeks eurozone backing for reforms

Greece pushed Europe on Monday to back its reform plans and free up cash before a huge repayment to the IMF, but ministers meeting in Brussels warned there would be no bailout deal yet.
11 May 2015, 18:00 PM

China becomes world's top crude buyer despite economy stuttering

China overtook the United States as the world's top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets.
11 May 2015, 18:00 PM

Australia targets multinationals in tax crackdown

Australia Monday announced plans to go after large multinational firms shifting profits offshore to minimise taxes, with 30 companies in the government's sights.
11 May 2015, 18:00 PM

Chinese smartphone market, world's largest, shrinks

China's smartphone market has reached saturation, according to a new study by industry analyst IDC that carries potentially
11 May 2015, 18:00 PM

Unpopular tax hands fresh ammo to Malaysia PM's foes

An unpopular new consumption tax has handed fresh ammunition to critics of Malaysia's embattled prime minister, with angry consumers complaining it has sent some prices surging, and economists warning it could harm growth.
11 May 2015, 18:00 PM

Russia bars potato from Bangladesh

Russia has temporarily stopped importing potatoes from Bangladesh due to food safety and disease risks, a senior official said yesterday.
11 May 2015, 18:00 PM

Citigroup says sued by Argentina

Citigroup said Monday it had been sued by Argentina and that some employees could face criminal charges there due to a court battle between Argentina and US hedge funds.
11 May 2015, 18:00 PM

Alcatel-Lucent defends Nokia deal as weathers US slowdown

Telecom equipment maker Alcatel-Lucent, which is set to be bought by larger rival Nokia, improved profit margins in the first quarter despite a marked sales slowdown in its biggest market, the United States.
7 May 2015, 18:00 PM

Samsung begins construction of $14.3b chip plant

Samsung kicked off Thursday construction of a new chip plant to help fuel growth as smartphone sales slow, saying it would invest 15.6 trillion won ($14.3 billion) until production begins in 2017.
7 May 2015, 18:00 PM

China forex policy should continue to allow more flexibility: IMF

China should allow greater flexibility in its exchange rate policy by reducing intervention, as part of its efforts to secure a gradual moderation in growth while pursuing economic reforms, the International Monetary Fund said on Thursday.
7 May 2015, 18:00 PM

China pulls out stops to avoid lay-offs as economy cools

As growth in China's sagging economy looks on the verge of spilling below 7 percent, officials worried about a spike in unemployment are pulling out all the stops to avoid mass lay-offs.
6 May 2015, 18:00 PM

Qatar to house 250,000 labourers in new 'cities'

Qatar is to build seven "cities" to house more than a quarter of a million migrant labourers building major infrastructure and projects for the 2022 World Cup, officials said Tuesday.
6 May 2015, 18:00 PM

As Iran oil fair opens, foreign companies weigh return

Iran is expected to outline big oil and gas projects at a major industry event Wednesday ahead of a possible nuclear deal that could allow global energy giants to return.
6 May 2015, 18:00 PM

Ukraine faces highest inflation since 1996

Prices in Ukraine will rise this year at the fastest rate since 1996 due to a sharp slump in the national hryvnia currency and a rise in utilities prices under an IMF bailout programme, a Reuters monthly survey showed.
6 May 2015, 18:00 PM

EU launches anti-trust probe into e-commerce

Brussels formally opened an anti-trust inquiry into Europe's online shopping marketplace on Wednesday amid concerns about how websites such as Amazon and Google use their influence.
6 May 2015, 18:00 PM

China to start building 3rd generation nuclear reactor

Construction of China's first "third generation" nuclear reactor will start on Thursday, a state-run company said, as Beijing attempts to export its atomic energy designs globally.
6 May 2015, 18:00 PM

Millions of Indian farmers keep faith in sugar cane, shrug off poor returns

It is a Catch-22 for Nandkumar Patil, one of the millions of sugar cane farmers in India.
6 May 2015, 18:00 PM