Financial News from AFP

  • The United States and Myanmar struck a trade agreement Tuesday as the former pariah state undertakes economic reforms and seeks greater US investment. The Trade and Investment Framework Agreement is aimed ...

  • Three dozen Malaysian NGOs on Tuesday denounced the world hydroelectric industry's decision to hold a conference in a Borneo state where dam projects have uprooted forests and native peoples. The groups, ...

  • Low-cost European airline Ryanair is looking at introducing flights between Israel and Poland to cater for Israeli schoolchildren visiting the former Nazi death camp at Auschwitz. "It seems that every ...

  • European stock markets diverged on Tuesday, as London shot past its 13-year peak amid stimulus policies from top world central banks and a barrage of company results, dealers said. "Global equity ...

  • Indonesia on Tuesday approved the purchase by Singapore's DBS of a 40 percent stake in Bank Danamon, but demanded the city-state open up its financial sector before any full takeover. More than a year ...

  • SkyWest, Inc. announced Tuesday it has struck an agreement with Brazil's Embraer for the purchase of 100 new E175 jet aircraft, with 40 considered firm deliveries. The deal also includes options for an ...

  • Malawi's presidential jet has been auctioned off to a Virgin Islands company for $15 million, after the cash-strapped government disposed of it to raise funds, an official said Tuesday. Bohnox Enterprise ...

  • Asian shares were mixed Tuesday after a dip on Wall Street ahead of testimony from the US Federal Reserve chief and a policy meeting of the Japanese central bank. The dollar turned higher against the yen ...

  • European equities diverged on Tuesday, as London held close to a 13-year peak amid stimulus policies from top world central banks and a barrage of company results, dealers said. Asian shares also traded ...

  • World oil prices fell on Tuesday as traders looked ahead to the latest thoughts of Federal Reserve chief Ben Bernanke on the outlook for the US economy. Brent North Sea crude for delivery in July dropped ...

  • The family of a US scientist found hanged in Singapore last year walked out of a coroner's inquiry into their son's death Tuesday, saying they had "lost faith" in the proceedings. "The prosecution ...

  • Tokyo stocks close up 0.13% AFP - 8 hours ago

    Tokyo stocks rose 0.13 percent on Tuesday, recouping early losses as the dollar turned higher against the yen. The benchmark Nikkei 225 index closed up 20.21 points to 15,381.02, its best finish since ...

  • Europe's main stock markets weakened in opening deals on Tuesday, with London's benchmark FTSE 100 index down 0.11 percent at 6,748.02 points. Elsewhere, Frankfurt's DAX 30 also fell 0.11 percent to 8,446.78 ...

  • An American scientist found hanged in Singapore last year was murdered and his death made to look like a suicide as part of a conspiracy, a US pathologist told an inquiry Tuesday. Edward Adelstein, 75, ...

  • The dollar turned higher against the yen in Asia on Tuesday as investors waited for testimony by the US central bank chief and the outcome of a policy meeting of the Japanese central bank. The dollar was ...

  • Oil was up in Asian trade Tuesday ahead of a testimony in Congress by Federal Reserve chief Ben Bernanke on the US economy. New York's main contract, light sweet crude for delivery in June, added 16 cents ...

  • Shares in Japan's troubled electronics maker Sharp surged 13.22 percent Tuesday morning on a reported plan for a hefty asset sale, the day after rocketing 17 percent. Shares in the Osaka-based firm jumped ...

  • Tokyo stocks flat by break AFP - 13 hours ago

    Tokyo stocks were flat by the midday break on Tuesday, recouping early losses as the dollar turned higher against the yen. The benchmark Nikkei 225 index, which closed at its best level since December ...

  • Asian shares were mostly down Tuesday after a dip on Wall Street ahead of a testimony from the US Federal Reserve chief and a policy meeting of the Japanese central bank. The dollar turned higher against ...

  • Reinvigorated technology player Yahoo! Monday unveiled a dusted-off design of its Flickr photo platform only hours after the company's dramatic acquisition of blogging site Tumblr. Yahoo chief executive ...

  • Tokyo stocks open down 0.63% AFP - 16 hours ago

    Tokyo stocks opened 0.63 percent lower on Tuesday after the dollar fell against the yen while US stocks weakened. The benchmark Nikkei 225 index, which closed at its best level since December 2007 on Monday, ...

  • The euro rebounded against the dollar Monday after sharp losses last week, while the yen also pushed higher after Japan's economy minister said it may have fallen far enough. At 2100 GMT, the euro was ...

  • US stocks slipped Monday despite a flurry of merger and acquisition news as investors looked ahead to Federal Reserve Chairman Ben Bernanke's testimony to Congress this week. Yahoo!'s $1.1 billion deal ...

  • World oil prices pushed higher Monday for the fourth straight session after reversing an early sell-off chalked up to profit-taking. New York's main contract, WTI light sweet crude for June delivery, added ...

  • United Airlines resumed Boeing 787 Dreamliner flights Monday after the advanced plane was globally grounded four months ago due to overheated battery incidents. United, the only US carrier that owns the ...

  • Former World Bank president Robert Zoellick said Monday Japan's economic drive needed accompanying structural reforms, voicing fear that recent growth could be just a "sugar high." Japan posted ...

  • Unilever claimed bragging rights Monday to the most-watched Internet commercial of all time -- a three-minute study of women's self-perception that stars a forensic artist. The Anglo-Dutch consumer products ...

  • European stock markets rose to fresh highs in muted holiday trading on Monday despite weak Italian economic data following strong start to the new week for Asian equity prices. London's FTSE 100 index ...

  • A plane flying from Zurich to Philadelphia made an emergency stop Monday at Paris's Charles de Gaulle airport after four crew members fell sick, an airport official said. They were handed over to the emergency ...

  • Ryanair announces slight rise in annual profits AFP - Mon, May 20, 2013 11:34 PM SGT

    Irish no-frills airline Ryanair said Monday that annual profits rose slightly last year, aided by higher revenues, and hiked its traffic forecast for the current financial year. Earnings after taxation ...

  • US stocks edge lower amid M&A news AFP - Mon, May 20, 2013 9:43 PM SGT

    US stocks edged lower in opening trade Monday amid a flurry of merger and acquisition news, including the Yahoo! takeover of blogging platform Tumblr. Five minutes into trade, the Dow Jones Industrial ...

  • Philippines approves three new wind farms AFP - Mon, May 20, 2013 9:06 PM SGT

    The Philippines has approved three wind farm projects that will generate 208 megawatts, enough to power more than 40,000 middle-class homes, an energy official said on Monday. The wind projects will be ...

  • Oil prices slide as traders take profits AFP - Mon, May 20, 2013 7:53 PM SGT

    World oil prices slid on Monday as investors locked in profits from last week's gains that were made on the back of positive US consumer sentiment data, analysts said. Brent North Sea crude for delivery ...

  • Asia-Pacific leaders warn of water conflict threat AFP - Mon, May 20, 2013 7:43 PM SGT

    Fierce competition for water could trigger conflict unless nations cooperate to share the diminishing resource, leaders from Asia-Pacific nations warned Monday. From Central to Southeast Asia, regional ...

  • Goldman selling all stock in China's ICBC AFP - Mon, May 20, 2013 7:08 PM SGT

    Goldman Sachs is selling the rest of its Industrial and Commercial Bank of China (ICBC) stake, worth around US$1.1 billion, in a move to exit an investment it made into the bank seven years ago. Goldman ...

  • Asia shares higher on US gains AFP - Mon, May 20, 2013 7:07 PM SGT

    Asian shares rose on Monday reflecting a bullish mood on Wall Street and extending their two-week rally, buoyed by better-than-expected US data. Tokyo stocks were up 1.47 percent, or 222.69 points, to ...

  • Croatia Airlines reveals cost of strike AFP - Mon, May 20, 2013 6:17 PM SGT

    A strike by pilots and cabin crew at Croatia Airlines continued for a seventh day on Monday, and the loss-making company said that the dispute had cost it hundreds of thousands of euros (more than $1 million). ...

  • India's Just Dial search engine launched Monday an initial public offer to raise up to $174 million, marking the biggest share offering so far in 2013 and one of the largest by an Indian Internet firm. ...

  • Irish no-frills airline Ryanair raised net profit slightly in its last financial year but said on Monday that traffic was set to rise this year. Ryanair, based in Dublin, said that group profit after tax ...

  • Indonesia names new finance minister AFP - Mon, May 20, 2013 5:55 PM SGT

    Indonesia's president on Monday named the country's investment chief as the new finance minister, putting him in charge of Southeast Asia's top economy at a time of major challenges. Chatib Basri, who ...

  • Asia's mobile revolution is set to transform the region's financial services industry, offering a cheap way for millions of migrant workers to send money home to their families, a report said on Monday. ...

  • European stock markets rise AFP - Mon, May 20, 2013 3:27 PM SGT

    Europe's main stock markets were higher shortly after the start of trading on Monday, with London's benchmark FTSE 100 index gaining 0.22 percent to stand at 6,738.06 points. Frankfurt's DAX 30 climbed ...

  • Thai economy contracts in first quarter AFP - Mon, May 20, 2013 2:49 PM SGT

    Thailand's economy shrank 2.2 percent in the three months to March from the previous quarter -- the first contraction in more than a year -- as manufacturing output fell, official data showed Monday. The ...

  • Tokyo stocks rally on renewed policy hope, US data AFP - Mon, May 20, 2013 2:41 PM SGT

    Tokyo stocks gained 1.47 percent Monday as investors took a positive view of Tokyo's growth policy while strong US data and the weaker yen continued to add fizz. The benchmark Nikkei 225 index soared 222.69 ...

  • Tokyo stocks gained 1.47 percent Monday as investors renewed their hopes for Tokyo's growth policy while strong US data and the weaker yen continued to encourage investors. The benchmark Nikkei 225 index ...

  • The world hydroelectric industry's decision to meet in a Malaysian state where dams have uprooted rainforests and native peoples is drawing bitter fire from environmental and tribal groups. The International ...

  • Oil prices lower in Asian trade AFP - Mon, May 20, 2013 1:39 PM SGT

    Oil prices were down in Asian trade Monday as investors locked in profits from last week's gains after US stocks blazed to new record levels. The US benchmark contract, West Texas Intermediate for June ...

  • Dollar eases in Asia but expected to resume rise AFP - Mon, May 20, 2013 12:56 PM SGT

    The dollar eased in Asia on Monday after a Japanese minister said the recent correction against the yen was nearly over, but analysts said the greenback would soon resume its climb. The dollar was changing ...

  • Yahoo! looks to Tumblr as elixir for revival AFP - Mon, May 20, 2013 12:30 PM SGT

    Yahoo! geared up for a major announcement Monday said to be a $1.1 billion deal to take over popular blogging platform Tumblr, a move that could bring a younger, hipper audience to the struggling Internet ...

  • Bird flu costs China industry $65 bn: state media AFP - Mon, May 20, 2013 12:15 PM SGT

    China's human H7N9 bird flu outbreak has cost the country's poultry industry more than 400 billion yuan ($65 billion) as consumers shun chicken, government officials said according to state media Monday. ...

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