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US economy surges in third quarter
Growth raised to 5%, quickest pace in 11 years, on consumer and business spend
No Opec cut even if oil price drops at $20
The decision sent global crude prices tumbling, worsening a price drop that has seen them fall by around 50 per cent since June.
Indian IT industry dons innovation in a year of double-digit growth
In terms of human capital, the industry generated an additional 150,000 direct jobs and 450,000 indirect jobs across the country during the year.
GCC Customs Union to enforce unified procedures in 2015
The regional customs union will also start implementing the first phase of the custom duties automated direct transfer mechanism by the beginning of next year.
Iraqi cabinet clears $105b budget for next fiscal year
Iraq’s cabinet on Tuesday agreed on a 2015 budget of some $105 billion and sent it to parliament for final approval, a government spokesman said.
Saudi 2015 budget expected to raise spending
Saudi Arabia’s 2015 state budget is expected to raise spending marginally from this year’s original plan while covering a deficit due to sliding oil prices with the kingdom’s huge fiscal reserves, a Saudi newspaper reported on Tuesday.
Drop in oil prices to persist: IMF
The boost to the global economy would be between 0.3 and 0.7 percentage points above the Fund’s baseline world growth forecast of 3.8 per cent from October.
Airbus to sue Skymark over A380 contract
This further complicates the efforts of Japan’s third-biggest carrier to rebuild its finances
Russia entering full-fledged economic crisis: Ex-minister
Country may be downgraded to ‘junk’ status next year
New Indian airline to start flying on Jan 9
The new airline, called Vistara, a Sanskrit word meaning “limitless expanse”, will make its first flight on January 9
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