Prices for German luxury cars in China are tumbling as the country’s stock market sell-off and worries about broader economic growth chill demand for auto brands that once commanded price premiums from affluent Chinese consumers. At Mercedes-Benz stores operated by a dealer group with nearly 200 multiple brand outlets, customer traffic at showrooms has dwindled markedly since mid-June, when a stock market slide that saw indexes plunge by […]
VIENNA — Secretary of State John Kerry said on Saturday that there were still “difficult issues to resolve” before a landmark nuclear accord with Iran could be completed. Mr. Kerry, who is in his 15th day of talks here, posted that message on Twitter after a meeting with Mohammad Javad Zarif, Iran’s foreign minister, and Federica Mogherini, the European Union’s foreign policy chief. Iran’s insistence on the […]
VIENNA — One of the last major obstacles to concluding a historic nuclear deal with Iran is a dispute over a set of United Nations sanctions that appeared to be resolved months ago and only peripherally has to do with nuclear weapons. The sanctions, passed in a series of resolutions by the United Nations Security Council beginning nine years ago, ban the shipment of conventional arms into […]
UAE. Private sector businesses in Dubai signalled further strong increases in business activity and new orders in June, though the rates of expansion moderated to 27- and 53-month lows, respectively. Despite softer increases in activity and new work, Dubai private sector companies were increasingly optimistic towards the year-ahead, with the degree of positive sentiment reaching a 19-month high. Furthermore, increased confidence towards the business outlook underpinned the […]
VIENNA — One of the last major obstacles to concluding a historic nuclear deal with Iran is a dispute over a set of United Nations sanctions that appeared to be resolved months ago and only peripherally have to do with nuclear weapons. The sanctions, passed in a series of resolutions by the United Nations Security Council beginning nine years ago, ban the shipment of conventional arms into […]
Electronics giant Samsung is bleeding on the smartphone side, with seven straight quarters of decline. The company hopes to correct that in the quarter ahead by beating Apple to the punch. Samsung is set to roll out its next Galaxy Note phablet device in mid-August. That breaks the company’s release cycle, which usually sees new Note devices hit the market in September. The electronics giant needed to […]
TEHRAN — As nuclear negotiations in Vienna grind on through deadline after deadline, Iranian officials have begun a public campaign to blame the United States in the event that the talks fail. Iran’s public diplomacy has long been geared toward selling a possible deal to hard-liners at home. But as an interim agreement between Iran and the West was extended on Friday to give negotiators more time, […]
A brief period of high profitability for the world’s oil refineries is likely to come to an end as quickly as it began, the International Energy Agency (IEA) said on Friday. Weak crude oil and relatively high prices for gasoline, diesel and petrochemical feedstock have pushed up refining profits sharply over the last six months, helping oil companies cope with much lower profits from upstream production. In […]
People queue outside an Apple store to buy the new iPhone 6 and 6 Plus in Beijing November 16, 2014. Reuters/Petar Kujundzic SAN FRANCISCO Apple Inc’s (AAPL.O) stock was heading toward its first five-session losing streak since January on Thursday as investors worried about the economic health of China, a key market for iPhones. Apple shares were down 2 percent at $120.15 in afternoon trade and have […]
Video | Kerry Says He Will Not Rush Iran Talks Secretary of State John Kerry said on Thursday that he was not willing to rush nuclear talks with Iran, but that they could not go on forever without an agreement. By MICHAEL R. GORDON and DAVID E. SANGER July 9, 2015 VIENNA — Secretary of State John Kerry said on Thursday that the United States would continue to negotiate on a nuclear agreement […]
|By Matein Khalid| De Gaulle dissed gold as a “barbarous relic” and Lenin sneered the yellow metal was fit only to “pave capitalist latrines”. So what? Gold has been an monetary metal in human history for centuries, back to the time of Pharonic Egypt, the Inca Empire, King Midas and the Spanish conquistadores of Mexico. While President Nixon removed the gold/dollar Bretton Woods linkage in 1971 and […]
China’s biggest stock-market rout since 1992 has done nothing to erode the bullish outlook of Goldman Sachs Group Inc. Kinger Lau, the bank’s China strategist in Hong Kong, predicts the large-cap CSI 300 Index will rally 27 percent over the next 12 months as government support measures boost investor confidence and monetary easing spurs economic growth. Leveraged positions aren’t big enough to trigger a market collapse, Lau […]
Saudi Arabia’s sovereign wealth fund is to invest up to $10 billion in Russia over the next five years, in a move signalling a thawing in relations between the two countries. Saudi Arabia’s Public Investment Fund (PIF), the country’s sovereign wealth investment vehicle, agreed on Monday to invest $10 billion over the next five years approximately in the Russia Direct Investment Fund (RDIF), a government-run investment fund. […]
U.S. crude tumbled about 2 percent on Tuesday, sinking for a second straight day as investors fled to safe havens on worries about a near-bankrupt Greece and China’s stock market losses and as technical selling threatened to push oil into a bear market. Iran’s determination to seal a nuclear deal with global powers to bring more of its crude to an oversupplied market and the restart of […]
VIENNA — The talks to complete a landmark accord limiting Iran’s nuclear program have been extended for several days after negotiators acknowledged that they would be unable to meet a Tuesday deadline. To give negotiators more time to pursue a final accord, the diplomats agreed to extend through Friday an interim nuclear accord called the Joint Plan of Action. That interim agreement, which had been set to […]
UAE. Non-oil private sector firms in the UAE reported the weakest improvement in business conditions since August 2013 during June. Marked slowdowns in growth of output and new business were at the forefront of the overall deceleration, while employment continued to rise at a solid pace. Meanwhile, inflationary pressures from both input costs and output charges were negligible. The survey, sponsored by Emirates NBD and produced by […]
Mohammad Javad Zarif, center, the foreign minister of Iran, sat next to Federica Mogherini, the European Union’s foreign policy chief as they meet with other foreign ministers in Vienna on Tuesday. By DAVID E. SANGER and THOMAS ERDBRINK July 6, 2015 VIENNA — With foreign ministers from around the world arriving here in hopes that the negotiations over Iran’s nuclear program are entering their final hours, a senior Iranian official said on […]
Oil prices tumbled their most in three months on Monday, with U.S. crude falling 6 percent, after Greece’s rejection of debt bailout terms and China’s rolling out of emergency measures to support its stock markets shook global markets. Adding to the pressure on oil, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could bring more supply to the […]
|TAP Staff| Iran’s oil biggest shipping company has amassed the world’s largest fleet of super tankers and is in talks to sail back into western waters should the Islamic Republic strike a nuclear deal, according to senior officials, the Wall Street Journal reported. The report quotes privatised Iranian shipping company NITC as saying it has 42 very large crude carriers, known as VLCCs, after buying 20 such […]
By MICHAEL R. GORDON and THOMAS ERDBRINK July 5, 2015 VIENNA — Secretary of State John Kerry warned Iran on Sunday that hard choices were still needed to seal a landmark nuclear accord, and that the United States was prepared to walk away if a sound agreement could not be reached. “We are not yet where we need to be on several of the most difficult issues,” Mr. Kerry said in a […]
GLEN, N.H. U.S. Democratic presidential candidate Hillary Clinton accused China on Saturday of stealing commercial secrets and “huge amounts of government information,” and of trying to “hack into everything that doesn’t move in America.” Clinton’s language on China appeared to be far stronger than that usually used by President Barack Obama’s Democratic administration. Speaking at a campaign event in New Hampshire, Clinton said she wanted to see […]
