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NEW YORK — The New York Times backed up its push for a digital future Tuesday by naming Mark Thompson, the outgoing director general of the BBC, as the paper’s new president and chief executive.

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TOKYO - Shares in Sharp Corp tumbled as much as 15 percent on Wednesday to their lowest in almost 37 years, with investors spooked by predictions that the ailing Japanese TV maker’s losses this year will be bigger than the company estimated this month.

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Japan’s economy expanded just 0.3 per cent in the April-to-June period, half the pace expected, raising doubts about the strength of the recovery as a rebound in consumer spending loses momentum and Europe’s debt crisis weighs on worldwide demand.

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Egypt exceeded its treasury-bond sale target at an auction on Monday as the president ordered the retirement of two top military generals and after the cancellation of a debt sale on Sunday. Dollar bonds rose.

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MANAMA - Dubai International Capital’s, or DIC, majority-owned Ishraq Gulf Real Estate Holding Company and the InterContinental Hotels Group on Monday announced the opening of the Holiday Inn Express Bahrain. With over 2,100 hotels worldwide, Holiday Inn Express is one of the fastest growing hotel brands in the world.

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Europe is edging closer to recession, dragged down by the crippling debt problems of the 17 countries that use the euro, official figures showed Tuesday.

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KUWAIT CITY- Kuwait’s Gulf Bank posted a 36 per cent drop in second-quarter profit as provisions rose.

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MUMBAI, India — Ford Motor Co.’s Indian subsidiary is recalling nearly 130,000 of its most popular cars. The manufacturing defects date back as far as 2008 and can cause fire and other problems, the company said late Monday.

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TOKYO - Japan’s Nikkei share average headed up on Tuesday morning as individual investors hunted for stable companies that were punished heavily for poor earnings, with hopes for global stimulus providing ballast to a quiet market.

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