LONDON - World shares eased and the dollar hit a two-month low against the Japanese yen on Tuesday, after signs of recovery in China’s vast factory sector failed to offset worries about the health of the U.S. economy and the euro zone crisis.
LONDON - World shares eased and the dollar hit a two-month low against the Japanese yen on Tuesday, after signs of recovery in China’s vast factory sector failed to offset worries about the health of the U.S. economy and the euro zone crisis.
NEW YORK - U.S. government debt prices edged higher on Tuesday, as traders anticipated data on domestic manufacturing that would support the notion of U.S. economic growth slowing and the need for more stimulus from the Federal Reserve.
Standard & Poor’s on Monday downgraded the ratings of the top Spanish banks, including Santander and BBVA, after slashing the country’s credit standing because of worsening deficit and growth problems.
Spain has back tipped into recession, an official estimate confirmed Monday, even as the government pressed ahead with unpopular spending cuts to rein in burgeoning debt.
The UN labor agency is predicting that global unemployment will hit 202 million this year, as debt-driven austerity measures hammer the job market.
Eurozone lending to the private sector remains weak, despite the vast amounts of cheap cash banks in the region recently borrowed from the European Central Bank, data showed on Monday.
The IMF said Asia should be ready to tighten monetary policies if overheating pressures emerge, while remaining alert to any future shocks from a still volatile global climate.
ICICI Bank reported a 31 percent rise in March quarter profit Friday on strong growth in lending and a decline in bad debts.
Emirates NBD, Dubai’s largest bank by market value, reported a first-quarter profit of Dh641 million on the back of a rise in non-interest income and lower impairments.
Dubai Chamber of Commerce and Industry on Wednesday honoured 14 UAE-based companies with Mohammed bin Rashid Al Maktoum Business Award in recognition of their exceptional performance.