Gold eases towards $1,650/oz after U.S. data

LONDON - Gold prices eased on Wednesday along with the euro after a downbeat survey of euro zone manufacturing activity contrasted with a stronger U.S. reading, though the metal pared losses after soft U.S. jobs report pulled the dollar from highs.


AirAsia, Malaysia Airlines end share swap deal

KUALA LUMPUR, Malaysia — Budget carrier AirAsia and state-owned Malaysia Airlines said Wednesday they have terminated a share swap deal signed last year but will continue plans to collaborate in areas such as procurement, training and aircraft maintenance.

Wider loss piles pressure on Vestas boss

COPENHAGEN - Vestas, the world’s biggest wind turbine maker, plunged to a larger than expected first-quarter loss due to delayed deliveries and rising costs, the latest blow to the renewable energy sector and piling pressure on its embattled boss.

Stocks hit by euro zone, US data; euro slides

NEW YORK - Global stocks and the euro fell on Wednesday after disappointing news on euro zone manufacturing activity and U.S. private-sector jobs growth reignited concerns about a global economic slowdown.

Eurozone unemployment hits record high

Eurozone unemployment hits record high

LONDON — Record high unemployment for the 17 countries that use the euro is set to increase the pressure on Europe’s leaders to switch from a focus on austerity to a pro-growth strategy to stop the region from moving deeper into recession.

India’s Bharti quarterly profit dives surprise 28%

NEW DELHI — India’s leading mobile phone firm by subscribers, Bharti Airtel, reported Wednesday a worse-than-expected 28 percent dive in quarterly net profit, hit by debt charges and foreign exchange losses.

Dubai International named Air Cargo Hub of the Year

Dubai International named Air Cargo Hub of the Year

The importance of Dubai International as vital regional and global cargo hub was again recognised at the annual Supply Chain and Transport Awards (SCATA) held in Dubai last night where it was named Air Cargo Hub of the Year.

Asia factories pick up steam, recovery to be bumpy

Asia factories pick up steam, recovery to be bumpy

Manufacturers in Asia upped their tempo in April to meet growing demand from overseas, in a sign that while the road to recovery might be bumpy, the global economy remains on track and the worst has probably passed for China.