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HuaweiTOKYO — 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.
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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.
Abu Dhabi-based asset manager Invest AD has launched two UCITS-compliant funds, which invest in Africa and the Arabian Gulf, to meet growing global demand for high-quality investment products to tap frontier market growth.
Sorouh Real Estate on Tuesday said its consolidated net profit surged 33 per cent in the second quarter to Dh166.6 million on sustainable incomes.
Initial public offering, or IPO, activities in the Middle East and North Africaregion witnessed a record 344 per cent jump in terms of money raised in the second quarter of the year compared to same quarter last year.
China’s Foreign Ministry on Wednesday urged the United States to rescind sanctions imposed on a Chinese bank over its transactions with Iran, saying the move damaged China-U.S. relations.
FRANKFURT/HELSINKI - The United States raised pressure on euro zone 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.