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HuaweiSINGAPORE - London copper steadied on Friday but was still set for its biggest weekly loss in two months after European Central Bank inaction disappointed markets and as worries over global growth dragged on the outlook for metals.
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The United States raised pressure on eurozone leaders to take decisive action to solve the region’s debt crisis, notably by lowering troubled members’ borrowing costs, on the eve of a crucial European Central Bank meeting.
SINGAPORE - Gold found support at $1,600 an ounce on Thursday, although it was capped by uncertainty over whether the European Central Bank will take bold action to tackle the region’s debt crisis after the U.S. central bank dashed hopes of any imminent stimulus.
BERLIN — German airline Lufthansa blamed high fuel costs and new taxes on air travel in its home and Austrian markets for a 24 percent decline in second-quarter earnings.
FRANKFURT - European Central Bank President Mario Draghi was under intense pressure from investors, European leaders and even the United States to deliver on Thursday on his pledge to do whatever it takes to save the euro.
TOKYO — Japan’s Sharp will slash 5,000 jobs by March, reports said on Thursday, its first cuts since 1950 as it is hit by a prolonged slump in its key television and liquid crystal display sectors.
BANGKOK — Asian stock markets were muted Thursday after the U.S. Federal Reserve took no new action to boost the U.S. economy and investors awaited announcements from the European Central Bank after its president vowed to keep the euro currency union intact.
SINGAPORE - Gold found support at $1,600 an ounce on Thursday, although was capped by uncertainty on whether the European Central Bank will take bold action to tackle the region’s debt crisis after the U.S. central bank dashed hopes of any imminent stimulus.
The International Monetary Fund, or IMF, said on Tuesday that the euro-area debt crisis has exacerbated global financial instability and an orderly adjustment process is likely to be prolonged and costly.
The Middle East and North Africa region, or Mena, has emerged as a viable and safe investment destination and things are looking decidedly brighter as the region targets to record a real gross domestic growth of 4.2 per cent, a report by Al Masah Capital said.
