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Having publicly trashed the US economy’s performance during the presidential campaign, Donald Trump has become its most prominent cheerleader. The president-elect has in recent weeks claimed credit for surging consumer confidence, stellar equity prices and stronger end-of-year household spending, arguing there was “no hope” before he arrived on the scene. To Barack Obama’s supporters, claims from Mr Trump that the US was cloaked in economic gloom before […]

Jan 12, 2017 11:45 am IST Amazon.com Inc. pulled doormats emblazoned with the Indian flag from its Canadian website after the South Asian nation’s foreign minister threatened to oust the Seattle company’s employees. “This is unacceptable,” Sushma Swaraj, India’s foreign minister, wrote on Twitter Wednesday in response to a posting from a user showing an image of the doormats for sale. Ms. Swaraj, who has 7 million […]

By Gopal Sharma | KATHMANDU KATHMANDU Nepal fired the head of its earthquake reconstruction agency and named his predecessor to the job in a game of musical chairs that critics say is only making conditions worse for the survivors of the 2015 disaster. Thousands of homeless people remain in temporary shelters after the 2015 quakes that left 9,000 people dead and destroyed more than 626,000 homes, monuments […]

TAIPEI Taiwan objected on Thursday to a Nigerian request to the island to relocate its representative office in the African country, a request Taiwan sees as more pressure by China to isolate it. Beijing regards Taiwan as a renegade province, ineligible for state-to-state relations, and to be taken back by force if necessary, especially if it makes moves toward independence. Taiwan has no diplomatic ties with Nigeria, […]

Rex Tillerson has set the stage for a major diplomatic clash between Washington and Beijing after the nominee for US secretary of state said China should not be allowed to access islands it has built in the South China Sea. At his confirmation hearing before the US Senate Foreign Relations Committee on Wednesday, Mr Tillerson said China’s construction of artificial islands in the contested sea was “akin […]

The year-long mobile share tug-of-war between Apple and Android is far spicier now than it was this time last year, according to the latest data from Kantar. For the three months ending November 30, iOS saw a 3 percentage point increase to 43.5 percent in the United States compared to October’s numbers, and a large jump on the 37 percent reported a year ago. A similar pattern […]

By Patricia Zengerle and Yeganeh Torbati | WASHINGTON WASHINGTON Secretary of State nominee Rex Tillerson expressed views on Wednesday at odds with President-elect Donald Trump’s positions on key foreign policy issues like nuclear proliferation, trade deals, climate change and relations with Mexico. In a nine-hour Senate confirmation hearing, the former chief executive of oil company Exxon Mobil (XOM.N) said he favoured maintaining U.S. sanctions against Russia for […]

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Airbus posted an eight percent rise in deliveries last year, beating its own forecasts by a comfortable margin to set a company record, and pulled off a last-minute surge in orders to beat arch-rival Boeing in the race for new orders. Confirming an estimate published by Reuters, the European planemaker said on Wednesday it delivered 688 aircraft in 2016, compared with an official company forecast of more […]

On Wall Street, Donald Trump’s election win spelt pain for the dollar and stock markets right up until the moment he began his acceptance speech in the early hours of November 9 at the New York Hilton. Then the dollar began a trough-to-peak surge that would leave it up almost 3 per cent, a performance only bettered in 2016 on the day after the Brexit vote. S&P […]

BEIJING China is set to consolidate five state media companies to create a “modern financial media group” to increase the state’s voice in economic and financial news coverage, the state-run Xinhua news agency said on Wednesday. Since taking power in 2012, President Xi Jinping, who has called for Beijing to take a bigger role in a global governance system, has stepped up media control and scrutiny to […]

Wednesday 08:30 GMT Overview European stocks and US index futures are lacking momentum, while government bond yields see minimal moves, as traders appear wary of making bold bets ahead of a press conference later in the day from US president-elect Donald Trump. The dollar is steady against the euro but the Turkish lira has hit another record low. Industrial commodity prices mostly are holding recent gains. Hot […]

Alibaba wants to transform the retail sector with a US$2.6 billion buyout that it says will break down the barriers between offline and online. The Chinese e-commerce giant said its investment unit was working with Intime Retail’s founder, Shen Guo Jun, to take the department store chain private with a projected HK$19.8 billion (US$2.6 billion). The funds would be raised through internal cash and external debt financing. […]

By Engen Tham and Samuel Shen | SHANGHAI SHANGHAI China’s forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan’s prospects to themselves, several bankers said. Both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines in the yuan, the bankers from […]

Tata Group plans to set up a regional office in South Korea and build a datacentre, reports ChosunBiz. India’s biggest conglomerate is likely preparing for the rise of the connected cars industry in Korea, the report said. Tata Teleservices will set up the office within the month and register as a telco business by March, it said. Tata Group, dubbed “India’s Samsung” by the Korean press, has […]

Jan. 10, 2017 DUBAI, United Arab Emirates– (BUSINESS WIRE/ME NewsWire)  GMO GlobalSign K.K., a leading provider of trusted identity and security solutions and one of the longest established Certificate Authorities in the world, today announced the inauguration of its new office in Dubai. The local entity, GMO GlobalSign FZ-LLC, based in Dubai Internet City, is strategically located to cater to further strengthen GlobalSign’s presence in Asia, particularly […]

The Middle East has given McLaren Automotive, the British manufacturer of luxury sports and supercars, good reason to get revved up with sales soaring last year. Its Middle East, Africa and central and South America region grew by an impressive 69 per cent last year, as the company posted another record year of sales growth. From offices in Dubai, McLaren has expanded into Abu Dhabi. “We continue […]

In a dramatic example of blowback against the establishment in the post-Trumpian world, Hungary announced it plans to crack down on non-governmental organizations linked to billionaire George Soros now that Donald Trump will occupy the White House, according to the deputy head of Prime Minister Viktor Orban’s party, cited by Bloomberg. The European Union member, and native country of Soros, will use “all the tools at its […]

Apple CEO Tim Cook touring a Foxconn facility. While Apple isn’t Foxconn’s only partner, it’s the biggest. (Image: File photo) Key iPhone supplier Foxconn Technology Group has posted its first annual sales decline since it went public in 1991, thanks to slowing sales of the iPhone, according to Nikkei. For full year 2016, Foxconn posted revenues of roughly $136.38 billion, down 2.81 percent from a year ago. […]

Since the start of the 21st century the South American nation of Suriname, population 540,000, has been riding a commodity boom that yielded major benefits for a country rich in bauxite, gold, oil and bananas. From 2000 to 2014, annual per capita income more than quintupled to almost $10,000. Child mortality fell by a third. A child born there today can expect to live to 70, up […]

Rolls-Royce’s Dubai dealership, AGMC, has overtaken Abu Dhabi to become the brand’s most successful and highest selling dealership in the world during 2016. The region also remained to be the brand’s third largest market despite challenging economic conditions and political uncertainty. Rolls-Royce Motor Cars announced a 6 percent rise in global sales in 2016 compared to 2015, marking the marque’s second highest ever annual sales result and […]

Over 13 years, consumption of gasoline rose in countries that lowered taxes or raised subsidies The average tax on petrol in 157 nations fell 13 percent from 2003 to 2015, even as the world acknowledged the need to slash greenhouse gases from fossil fuels, researchers reported Monday. Over 13 years, consumption of gasoline rose in countries that lowered taxes or raised subsidies, they said in a study […]

Chinese technology giant Tencent on Monday announced a new “mini program” feature embedded within its popular messaging app WeChat, which allows users to open certain mobile apps downloaded on WeChat directly. A number of popular mobile apps, including online shopping platform JD.com, restaurant review site dianping.com, and taxi-hailing app Didi Chuxing, already support the latest “mini program” feature, according to a Sina news report. It means even […]

BEIJING A Chinese professor has been sacked after he criticised Chairman Mao Zedong on his 123rd birthday in an commentary he posted online that enraged leftists. Mao, who died on Dec. 9, 1976, is still officially venerated by the ruling Communist Party as the founder of modern China and his face appears on every yuan banknote. But he is particularly respected by leftists who believe the country […]

By Ellen Wulfhorst UNITED NATIONS (Thomson Reuters Foundation) – Sweden’s top diplomat has a question: “Where are the women?” Taking a seat on the United Nations’ influential Security Council, Sweden will use its clout to press its feminist foreign policy, Foreign Minister Margot Wallstrom said on Monday. That policy, coined when Wallstrom took office two years ago, seeks equal rights, decision-making roles and fair allocation of resources […]

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