The International Monetary Fund is not predicting a recession for the United States although risks of one have increased, an IMF spokesman said on Thursday.
Major US retailers on Thursday reported gloomy sales for the critical December shopping season, while a separate report showed new claims for jobless benefits fell unexpectedly in the latest week, somewhat easing concerns of a weakening job market.
Governments around the world need to do more to prepare for the dramatic economic impact of the next flu pandemic, the United Nations influenza co-ordinator said on Thursday. David Nabarro said his team had recently collected information from nearly 150 c
The Bank of England kept interest rates steady at 5.50 percent on Thursday, ending speculation it might cut for a second month running, but analysts remain convinced borrowing costs will come down next month.
The Bank of England kept interest rates steady at 5.50 percent on Thursday, ending speculation it might cut for a second month running, but analysts remain convinced borrowing costs will come down next month.
The Bank of England kept interest rates steady at 5.50 percent on Thursday, ending speculation it might cut for a second month running, but analysts remain convinced borrowing costs will come down next month.
Eurozone industry suffered a setback in November, according to national data on Thursday that showed French and Spanish production mirrored a decline already seen in German industrial output.
Two Chinese firms on Thursday were added to Singapore's benchmark Straits Times Index (STI), which has been slimmed down and revamped in a bid to spur trading on the city-state's bourse. The index has been reduced from 47 stocks to 30 blue chips ranked by
African countries have replaced China as the main concern in the fight against unsafe and counterfeit goods worth over $200 billion in trade every year, a top customs official said on Thursday.
The European Central Bank left interest rates unchanged on Thursday, but President Jean-Claude Trichet said policy is certainly not neutral and the ECB is ready to take pre-emptive action against inflation if needed.
The European Central Bank left interest rates unchanged on Thursday, but President Jean-Claude Trichet said policy is certainly not neutral and the ECB is ready to take pre-emptive action against inflation if needed.
The European Central Bank left interest rates unchanged on Thursday, but President Jean-Claude Trichet said policy is certainly not neutral and the ECB is ready to take pre-emptive action against inflation if needed.
Iran's oil trade is unaffected by international banking pressure and the country is exporting just over 2.4 million barrels per day of crude, a senior Iranian oil official said on Thursday.
Wal-Mart Stores Inc on Thursday reported a 2.4 percent rise in December sales at US stores open at least a year, beating Wall Street expectations, as customers flocked to its stores for cheap groceries.
India's giant Tata Group unveiled Thursday a 2,500-dollar car it bills as the world's cheapest amid predictions the compact, no-frills vehicle could revolutionise how the nation of 1.1 billion people travels.
Burren Energy said it had no contact from an Indian group whose adviser said is plotting a rival bid to a $3.6 billion offer from Italy's Eni, but the oil explorer's shares still rose on hopes of a counter-bid.
Around one person in eight in Austria lives close to or below the poverty line, nearly half of them permanently, a regular survey by Statistik Austria showed on Thursday.
Philippine merchandise exports fell 2.0 percent from a year earlier to 3.95 billion dollars in November amid a downturn in electronics shipments, the government said Thursday. Electronic products, which make up the bulk of Philippine exports, dropped 4.5
Germany will uphold staunch political opposition to atomic energy, unperturbed by the mood swinging back in favour of nuclear power elsewhere. Oil at record highs, climate worries, and the need to cut dependency on energy imports is due to move the Britis
Atomic Energy of Canada Ltd has agreed to cooperate with the Nuclear Power Institute of China to study nuclear technology that uses less uranium in response to a possible future shortage of the fuel.
Indian agriculture is heading for a crisis as food output stagnates and millions of poor farmers struggle with high debt and crop failures, the nation's foremost farm scientist has warned.
Shares in Australia's top banks came under pressure on Thursday after a report put their exposure to the US subprime crisis at one billion dollars (884 million US).
A leading contender to succeed Bank of Japan Governor Toshihiko Fukui said on Thursday Japan's economic slowdown was expected to continue for some time, reinforcing views that the central bank will wait at least until late this year to raise interest rate
The chairman of US equity fund Lone Star has arrived in South Korea where he is expected to testify in court and face separate questioning over allegations of fraud, officials said Thursday.
The chairman of US equity fund Lone Star has arrived in South Korea where he is expected to testify in court and face separate questioning over allegations of fraud, officials said Thursday.
Shares in ICICI Bank rose as much as 6.8 percent to a record high on Thursday after its managing director said India's top private-sector bank wanted to list at least four subsidiaries, starting with its broking arm.
Shares in ICICI Bank rose as much as 6.8 percent to a record high on Thursday after its managing director said India's top private-sector bank wanted to list at least four subsidiaries, starting with its broking arm.
Nigeria's foreign currency reserves rose to 51.32 billion dollars at the end of December 2007 from 49.96 billion in the preceding month, the Central Bank of Nigeria (CBN) said Thursday. The bank said the reserves had grown steadily in the last three years
Argentine stocks sank on Wednesday to a four-month closing low, as investors shed the heavily weighted Argentine unit of Brazil state oil company Petrobras after it denied rumours of a pending share buyback. The MerVal index of the 42 leading stocks fell
Thai share prices closed 2.47 percent lower on Thursday as selling spread across the board amid sustained concerns over a possible recession in the US economy, dealers said. They said investors dumped key domestic blue chip stocks including banking and en
Taiwan stocks fell 0.3 percent on Thursday due to uncertainty ahead of legislative elections over the weekend, with shares of contract electronics maker Hon Hai giving up early gains despite logging record sales. The main TAIEX share index ended down 27.7
China's key stock index rose 0.38 percent to a two-month closing high in heavy trade on Thursday as expectations for high inflation pushed up metals, agriculture and other resource shares. The Shanghai Composite Index ended at 5,456.541 points, with gaine
Hong Kong stocks fell on Thursday as a decision by Beijing to intervene to brake rising prices hit Chinese energy and food shares, with top Asian oil refiner Sinopec Corp the top blue chip casualty. The benchmark Hang Seng Index closed down 1.4 percent, w
US stocks rose on Wednesday and the Nasdaq broke an eight-day losing streak, as talk of recession pushed investors into health care and other defensive sectors seen as resistant to a slowdown. After stocks kicked the year off with their worst five-day sta
US Treasuries fell on Wednesday in choppy trading as the stock market staged a late rally, breaking free from recession fears that gripped it much of the session. Safe-haven bids for bonds ebbed and flowed, mirroring another rollercoaster session in equit
US Treasuries fell on Wednesday in choppy trading as the stock market staged a late rally, breaking free from recession fears that gripped it much of the session. Safe-haven bids for bonds ebbed and flowed, mirroring another rollercoaster session in equit
US corporate bonds sold off on Wednesday and the cost of protecting debt against default rose to a record high as worries about a recession spooked the credit markets. The main index of investment-grade credit default swaps widened to a record 102.5 basis
US corporate bonds sold off on Wednesday and the cost of protecting debt against default rose to a record high as worries about a recession spooked the credit markets. The main index of investment-grade credit default swaps widened to a record 102.5 basis
Indian share prices fell 1.38 percent on Thursday as investors locked in gains after the benchmark Sensex hit a new intra-day high, dealers said. They said investors were cautious ahead of earnings from India's second largest exporter Infosys Technologies
Singapore share prices closed 1.00 percent lower on Thursday as investors continued to be cautious on heightened risks that the US economy will head into recession, dealers said. They said the revamp of the Straits Times Index (STI), re-launched Thursday,
Japanese stocks slid on Thursday to an 18-month closing low, dragged down by automakers and property shares sold on worries about the US economy and lingering fears about the impact of the global credit crunch. Long-term concerns about Japan's economy wer
Philippines share prices closed 1.1 percent higher on Thursday as investors snapped up bargains after being encouraged by overnight gains on Wall Street, dealers said. But volumes were thin amid cautiousness following recent sell-offs, they warned.
The yuan slipped against the dollar on Thursday, partly because of the strength of the dollar on global markets, but dealers said the Chinese currency would soon resume its uptrend. Before trading began, the central bank set its daily mid-point at 7.2805,
The dollar held near a nine-month high against sterling on Thursday on rising expectations that the Bank of England will cut interest rates later in the day amid growing concerns about Britain's economic outlook. The yen edged up from overnight lows again
The dollar rose on Wednesday, shrugging off worries of a US recession, as investors started to focus on a potential growth slowdown in the euro zone after gloomy German industrial output and retail data. A slower pace of expansion in the common monetary a
Interbank buy/sell rates for the taka against the dollar on Thursday. 68.58/68.58 (previous 68.58/68.58). Call Money Rates: 2.00-10.00 percent (previous 3.00-10.00 percent.
The Australian dollar was broadly firmer on Thursday, in part on a narrowing in the country's trade deficit, while talk of an imminent UK rate cut lifted it to a decade high against the British pound. A widening yield advantage also assisted the Aussie's
Asian currencies were steady on Thursday as investors held back because of uncertainty over the outlook for the US economy and rate decisions due in Europe later in the day. Traders said the market was also cautious because central banks in the Philippine
The Swiss franc was little changed against euro on Thursday as investors awaited policy decisions of the European Central Bank and the Bank of England as well as a speech by Federal Reserve Chairman Ben Bernanke. The franc was near flat against the euro,
India had been picked as the new host of the second AFC Challenge Cup 2008, stated to run from 30th July to 10th August 2008. The biennial event to be played among Asia's 20 lower-ranked countries was originally scheduled to be held from 1-16 March in Chi
World number one Justine Henin stretched her winning streak to 27 matches as she beat fourth-ranked Ana Ivanovic to set up a one-versus-two final with Svetlana Kuznetsova at the Sydney International on Thursday.
Theo Walcott came to Arsenal's rescue as his late goal frustrated Tottenham and earned a 1-1 draw in the League Cup semi-final first leg here on Wednesday. Juande Ramos's side looked set to end a nine-year winless run against their north London rivals whe
The West Indies Cricket Umpires Association (WICUA) ripped the International Cricket Council (ICC) Wednesday for firing umpire Steve Bucknor from next week's Australia-India test in Perth.
Graeme Smith stroked a fluent 13th Test century to keep South Africa on top in the third and final Test against West Indies on Thursday. South Africa were 213 for one, a lead of 74 runs after they had bowled out the tourists for 139, when bad light ended
Pakistan cricket coach Geoff Lawson on Thursday said security assessments after next month's elections will determine whether Australia will go ahead with their planned tour here. Lawson was speaking after learning of a suicide bomb blast that killed at l
Muttahida Qaumi Movement Chief Altaf Hussain has condemned the bombing in Lahore and appealed to party workers to donate blood to the injured. He said the country's enemies were trying to destabilise the country with their cowardly acts and wanted to dest
Kenya's rival leaders agreed on Thursday to work with a mediation panel led by former UN chief Kofi Annan to end a political crisis that has claimed hundreds of lives, the head of the African Union said.
Marxist rebels freed two women hostages from Colombia's jungle on Thursday in a deal brokered by Venezuela's leftist president, Hugo Chavez, that could mark a breakthrough in peace efforts.
Iran on Thursday aired its own video of an incident in the Strait of Hormuz with US warships, in a bid to counter Pentagon accusations that the Iranians warned they could blow up the American vessels.
Sri Lanka's Tamil Tiger rebels vowed on Thursday to fight a full-scale civil war if the government wages one after scrapping the remains of a tattered ceasefire, and called on Norway to stay on as mediator.
Afghanistan on Thursday welcomed US plans to send up to 3,000 additional marines to counter an expected Taliban spring offensive but insisted the long-term solution is to boost Afghan forces. The defence ministry said more international troops are needed
The growing isolation of the Gaza Strip since the Hamas wrested control in June is helping extremists, the head of the UN agency for Palestinian refugees said Thursday. Efforts to sideline Hamas over their refusal to recognise Israel are "putting people i
US warplanes launched their biggest air strike in Iraq since at least 2006 on Thursday, bombarding date palm groves on Baghdad's southern outskirts with more than 40,000 pounds of bombs in a matter of minutes.
The US Treasury said om Wednesday it had blacklisted a high-ranking Iranian Revolutionary Guards officer and a Syrian-based television station for allegedly "fuelling" insurgent activity in Iraq.
Britain gave the go-ahead to a new generation of nuclear power stations on Thursday, setting no limits on nuclear expansion and adding momentum to atomic energy's worldwide renaissance.
A scheming conman walked off with a bagful of cash from Barclays, Britain's third-biggest bank, by posing as its chairman, the bank admitted Thursday. The fraudster marched into a Barclays branch and sauntered out with 10,000 pounds (19,600 dollars, 13,40
India and China will sign five agreements, including a pact between the two state-run railways, during Prime Minister Manmohan Singh's visit to China next week, a cabinet minister said Thursday. Singh is scheduled to leave Sunday on a three-day visit to C
Sudan admitted on Thursday that its troops had opened fire on a joint UN/African Union peacekeeping convoy in Darfur, contradicting an earlier denial by its ambassador to the United Nations.
Sterling rose broadly after the Bank of England left rates on hold on Thursday, while other major currencies held steady ahead of speeches from euro zone and US central bank chiefs. Following a run of weak retail and consumer indicators, markets had ratch
Sterling fell to a record low versus the euro on Thursday after an on-hold decision from the Bank of England did not alter expectations for rate cuts soon, in contrast to a hawkish message from the European Central Bank.
The Indian rupee traded in a narrow band to end little changed on Thursday, with the central bank suspected of mopping up dollar inflows, dealers said. The partially convertible rupee ended at 39.285/295, per dollar, a shade softer than the previous finis
Indonesian bond prices tumbled on Thursday ahead of the launch of a new issue of up to $2 billion that could come later in the day and that is expected to offer a substantially higher yield than existing Indonesian debt.
Indonesian bond prices tumbled on Thursday ahead of the launch of a new issue of up to $2 billion that could come later in the day and that is expected to offer a substantially higher yield than existing Indonesian debt.
US stocks rose on Thursday after a Wall Street Journal report that Bank of America is in talks to buy mortgage lender Countrywide Financial Corp sent financial stocks higher. The Dow Jones industrial average was up 73.64 points, or 0.58 percent, at 12,808
European credit spreads tightened slightly on Thursday, along with gains in European stock markets, following an overnight rally in US equities. But traders and analysts said gains were comparatively small as investors remained focused on economic concern
European credit spreads tightened slightly on Thursday, along with gains in European stock markets, following an overnight rally in US equities. But traders and analysts said gains were comparatively small as investors remained focused on economic concern
Britain's top shares fell 0.8 percent on Thursday after the Bank of England (BoE) kept interest rates on hold, but Sainsbury triumphed over the gloom thanks to an upbeat trading update. The FTSE 100 ended down 50 points at 6,222.7.
Germany will bow to pressure from the European Commission and amend a proposed law on foreign investment limits to exempt EU-based investors, a press report said Thursday.
Citigroup Inc and Merrill Lynch & Co Inc are in discussions to receive more capital from investors, primarily foreign governments, The Wall Street Journal reported on Thursday.
Citigroup Inc and Merrill Lynch & Co Inc are in discussions to receive more capital from investors, primarily foreign governments, The Wall Street Journal reported on Thursday.
A group of the world's biggest international banks said Thursday the struggling US economy likely would escape a recession in 2008 and grow 2.3 percent for the year. "There are important signs of economic resilience which suggest that recession can be avo
J. Sainsbury Plc, Britain's third-largest supermarket group, said its sales rose and gave a relatively upbeat view of consumer spending, bucking the trend of retailers' gloomy predictions.
J. Sainsbury Plc, Britain's third-largest supermarket group, said its sales rose and gave a relatively upbeat view of consumer spending, bucking the trend of retailers' gloomy predictions.
New York state launched a formal investigation on Thursday to determine if Intel Corp, the world's biggest chip maker, violated state and US antitrust laws to squeeze out rival Advanced Micro Devices Inc.
Federal Reserve Chairman Ben Bernanke on Thursday said the US central bank was ready to act aggressively to counter a deep housing slump and credit market strains that were putting economic growth at risk. "In light of recent changes in the outlook for an
Plastics traders and consumers are hoping the launch of a new plastics futures contract in Dubai will offer a useful hedging tool and greater price transparency, ensuring success where London's LME has so far failed.
Investment fund buying drove London coffee and cocoa futures to new peaks on Thursday, while two-way speculative dealings and profit taking kept the lid on white sugar which closed flat. London March robusta coffee futures hit a contract high of $2,016 pe
Oil prices tumbled 2 percent on Thursday, falling farther below last week's $100 peak, as concerns about a global economic slowdown raised the possibility of weakening energy demand. US crude settled down $1.96 at $93.71 a barrel by 1928 GMT, adding to a
Soaring demand for corn will trim US corn supplies this year from previous estimates, giving investors another reason to buy corn, keeping prices near the current 11-year highs or higher, analysts said.
Cotton futures slipped heading into Wednesday's close, giving up earlier gains that led to a one-month high, as speculative profit takers decided to get out when resistance proved a challenge, traders said. Brokers noted that speculative buying pushed ope
Copper slipped fractionally in early London Metal Exchange business on Thursday as fears about recession got the better of optimism about Chinese buying, analysts said. Futures for delivery in three months in the industrial metal, often seen as an indicat
Gold gained in choppy European trade on Thursday as a weaker dollar and bargain hunting lifted the metal closer to record highs. Spot gold fell early on as low as $866 an ounce but then recovered to $886.30. It was quoted at $883.50/884.30 an ounce by 151
ICE arabica coffee futures edged mostly lower early Thursday, with support coming from buying related to index reweighing, while US cocoa rose on speculative buying, traders said. On the screen, the ICE March coffee contract was 0.05 cent lower at $1.3555
Raw sugar futures were soft in early business on Thursday as the market extended a pull-back from one-year highs reached earlier in the week, brokers said. "It seems like the market may be under a little producer pressure, but otherwise, it's very quiet.
US wheat futures were very volatile on Thursday ahead of the release early Friday of the US Department of Agriculture's January crop data, traders and analysts said.
US copper futures were soft in early trade on Thursday, as prices extended a pull-back from two-month highs reached on Wednesday and recessionary fears soured this week's bullish sentiment, brokers said.
