Latest International Business News
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Guideline focuses on boosting economy
/enpproperty--> The National Development and Reform Commission released a guideline covering luxury and property tax, as well as other sectors of the economy. The guideline, issued on Friday, also promotes energy-saving measures and green development. The commission vowed that excessive energy consuming products "will be subject to taxation". Some items previously categorized as ...
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FCC hopes to avoid end of world for cell phones
"I e-mailed my boss to ask what would happen if we don't free up enough spectrum," said Tom Sugrue, T-Mobile's vice president of government affairs, at a panel discussion held at the CTIA wireless industry trade show in Las Vegas this week. "He wrote, 'It will be the end of the world as we know it.' He didn't put a smiley face at the end or anything." ...
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3D printers give rise to desktop manufacturing
Digital technologies such as 3D modeling software and 3D printers have grown cheap and accessible enough for ordinary people to make prototypes of objects that could, until recently, only be made by people who owned factories. (Emily ...
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Youre in their pockets High Court row over valuation in General Electric planes deal with Lebedev-controlled Blue Wings airline
One of the world's biggest aircraft valuers was accused in the High Court of being in the pockets of General Electric's vast GECAS commercial aeroplane leasing ...
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Dont just blame the bankers for the crisis
This has prompted debate on how much responsibility he should take for the financial crisis. Sir Mervyn King said on May 19 that the failings of the financial and regulatory system were the root cause of the turmoil that struck the world economy almost six years ago. King, who will leave the bank this year, told Sky News's Murnaghan programme that there was widespread risk-taking in the ...
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China in platinum for the long haul
'Wesizwe Platinum had a bit a journey to where it is now," says Hamlet Morule, the executive of corporate affairs and investor relations at the platinum mining company. It was listed in 2005 but found itself unable to get the necessary funds for a flagship project, the Bakubung platinum mine in the western limb of the Bushveld Complex, close to Rustenburg. "We had to get funding ...
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Budget travellers boost SA coffers
The tourist accommodation market in South Africa appears to have recovered from both the harsh blow it was dealt by the recession that began in 2008 and the 2010 World Cup hangover, but it is no longer all about five-star suites and lobster dinners, thanks to the growing demand for budget accommodation. According to a recent statement from Statistics South Africa, total income for the ...
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Electricity labour issues hinder economic zones
Government's work to legislate for the development of special economic zones was welcomed by business in Parliament this week, but it called for further incentives to make local zones competitive against African and other international counterparts. Rigid labour laws, the supply of electricity to these zones and lengthy environmental impact assessment processes were among the concerns ...
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Cap on big bonuses mooted
The European Banking Authority is thought to have approved proposals that would require a cap on bonuses for anyone whose pay is more than EUR500 ...
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Rand rout blamed on labour unrest
As the rand plunged to a four-year low this week, reaching R9.61 to the dollar on Tuesday, analysts say that pressure on the currency is unlikely to abate in the short term. Even though it had recovered slightly to R9.56 by Wednesday evening, the currency was faring significantly worse than its Brics partners, and the government bond market reflected its relatively poor health. Statistics on ...
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World stocks erratic a day after big sell-off
BANGKOK (AP) -- Asian shares traded erratically Friday but European markets found their footing, a day after global stocks were routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary ...
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Gold down by Rs 50 on sluggish demand weak global cues
Fifteen touch-screen smartphones to consider below Rs 15,000 Within the huge list, we take a look at fifteen touch-screen smartphones that have been ...
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German business confidence up unexpectedly in May Ifo
FRANKFURT (AFP) - German business confidence rose unexpectedly in May, data showed on Friday, as businesses in Europe's top economy express satisfaction with their situation and become more optimistic about the future.The Ifo economic institute's closely watched business climate index rose to 105.7 points in May from 104.4 points in April. Analysts had been expecting an unchanged ...
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Govts want generous Ford contribution
Ford is under pressure to cough up significant cash to help employees set to lose their jobs in Geelong and Melbourne retrain for other work.Ford has pledged to contribute to the government fund to help the 1200 workers at its Broadmeadows and Geelong plants, which will close in 2016.Ford president and chief executive Bob Graziano hasn't said how much cash will be coming, but Prime Minister ...
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Liberia Govt Lacks Fiscal Discipline - Finance Minister
Finance Minister Amara Konneh, has conceded that many officials of government are fiscally indiscipline. Minister Konneh said public officials, especially authorities at the Ministry of Health and Social Welfare love receiving funds from government, friendly nations and organizations, but always slow in terms of submitting performance report on money received as a result, it becomes difficult ...
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Denny Hamlin takes Coca-Cola 600 pole with record lap
(AP Photo/Mike McCarn) Denny Hamlin climbs from his car after qualifying for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. Hamlin won the pole position for the ...
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Global stock markets fall after 7 percent collapse in Japan’s Nikkei index
Stock markets posted significant losses worldwide, led by a one-day 7.3 percent drop in Japan's Nikkei stock index, amid signs of a growing global slump and demands for increasing attacks on the working class in Japan.The Nikkei fell 1,143 points to 14,483.98, after which major indices across Europe and Asia all fell two percent or more. The Sydney stock market fell two percent to 5062, and ...
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Ford Australia announces shut down of car production
Ford Motor Company's Australian subsidiary announced yesterday it is shutting down all manufacturing operations by 2016. The closures will mean sacking about 1,200 workers at Ford's two plants at Broadmeadows and Geelong in Victoria. These two working-class areas, already afflicted by widespread unemployment, will be devastated.Thousands more jobs will be destroyed in the auto ...
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Chinas first lady Peng Liyuan among worlds most powerful women
China's first lady Peng Liyuan has made it onto Forbes' list of the world's 100 most powerful women. The magazine complimented Peng for the impact she had in changing the image of China. Her Made-in-China fashion statement caught the attention of the world when she traveled with President Xi Jinping during his recent official trips abroad. Germany's Chancellor Angela ...
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Caterpillar CEO defends wage-cutting
expressing the logic behind the merciless drive for ever higher profits by the ruling class both in the United States and internationally. Since 2010, when he became CEO, Oberhelman has overseen a ruthless campaign to reduce workers' wages and dramatically increase corporate profits. This has included the lockout of workers in London, Ontario and the shutdown of their plant after because ...
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Hainan Airlines and China Southern Airlines confirm Boeing 787s orders
CHINESE regulators have approved the Boeing 787 to fly in the country, a move that opens up a large potential market to the US aerospace giant. "I can confirm that the Civil Aviation Administration of China has granted type certification for the 787 Dreamliner," a Boeing spokesman said on Thursday. Chinese airlines have yet to take delivery of the high-tech 787, which last month ...
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Angels of Woolwich 3 brave women who face up to brutal killers astonish the world
Amid the horror and revulsion of the Woolwich terror attack, millions around the world have marvelled at the extraordinary bravery of three ordinary women. Dubbed the "Angels of Woolwich", the trio faced up to Lee Rigby’s brutal killers with little thought for their own safety. TV footage shows two of them fearlessly tending the already-dead soldier’s body, just yards ...
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Co-op Bank stops lending to new corporate clients
LONDON (Reuters) - Co-operative Bank said on Friday it had stopped offering loans to new business customers, in a move designed to quell growing concerns over its capital position.A spokesman for Britain's biggest customer-owned financial services business said it would continue to provide lending to existing customers. The freeze does not apply to individual retail customers."We are ...
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Global manufacturing slowdown to grind metals prices
A worker wearing protective glasses welds steel products at a heavy equipment manufacturing factory in Luoyang, Henan province May 1, 2013. (China ...
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War World II medals turn up mysteriously in Goodwill store
Ron Scanlon thought the shadow box sitting in a bin at a Chesterfield Goodwill store seemed out of place, so he took a closer look.Behind a flimsy piece of plexiglass was a picture of a smiling Marine surrounded by gold medals taped to a red velvet liner.One was in the shape of a star.A tattered scrap of paper told the story.The medals and picture, which were discovered on Wednesday, belonged to ...
South America Featured
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Shipping Wars: Uruguay and Argentina face off over rival port expansion plans
Argentina and Uruguay both want to be the shipping hubs of South America, or southern South America at least, and both are planning to considerably expand their port infrastructure in Buenos Aires and Montevideo respectively, which is leading to considerable diplomatic strain.
Argentina is a regional power in South America, the country is considered one of the more developed nations on the continent on-par with Uruguay (on paper at least, with a similar per capita income and Human Development Index rating) although the country occupies a majority of the continent with Brazil and presides over a massive coastline. Read more
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