Latest International Business News
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Oz women cricketers Down Under on top of world after hefty pay-hike
Cricket Australia (CA) has announced that the country's top female cricketers will now earn up to 80,000 dollars within a year. The women team has won Women's World Cup and the T20 trophy, prompting CA to consider female cricket as professional, News.com.au reports. CA chief executive James Sutherland compared the women's cricket team to the men's cricket club, saying that the association ...
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Tokyo market plummets more than 7 drags down global stocks
A woman walks past an electronic board displaying a graph showing the dramatic downturn of Japan's Nikkei average outside a brokerage in Tokyo, May 23, 2013. (Toru ...
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Ford to quit making cars in Australia cites high costs currency
Ford Motor Co. will shut its two Australian auto plants in October 2016, blaming a strong currency and costs that are hitting manufacturers just as the country looks for other sectors of its economy to cushion the end of a mining boom.Ford Australia will close its engine plant in Geelong and its vehicle assembly plant in Broadmeadows, both in Victoria state, with the loss of 1,200 jobs, Ford ...
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Japan gyrations underline economys vulnerability
TOKYO -; Japan's financial markets gyrated wildly Thursday, underscoring the vulnerability of its economy to a loss of investor confidence as Prime Minister Shinzo Abe attempts shock monetary easing to end two decades of ...
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Comment Ford announcement adds to debate about Australian costs
Julia Gillard and Tony Abbott had different emphases in their reactions to Ford's announcement that it will shut down its Australian production - which started way back in the 1920s, writes Michelle ...
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Success at the Expo 2020 ‘will boost construction on The World’
The World islands in the United Arab Emirates (UAE) will be given an extra boost if the country manages to land the World Expo. This is the opinion of Brendan Jack, Head of Sustainability and Environment at master developer Nakheel, who told 7DAYS: "If Dubai wins the Expo 2020, you may find that becomes a catalyst for developments on The World, and things may speed up." British ...
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UK economys return to growth confirmed
The UK's return to growth was underlined today as revised figures confirmed the dominant services sector helped the economy expand by 0.3% in the first three months of the year. Services shook off the freezing start to the year, with a recovery from hotels and restaurants helping the sector grow by 0.6% in the first quarter, the Office for National Statistics (ONS) said today. An even ...
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BRUTAL Markets Are Getting Destroyed Around The World
European markets have been open for a few hours, and things are ugly.England’s FTSE is down. 1.8%. France’s CAC 40 is down 2.4%. Germany’s DAX is down 2.5%. Spain’s IBEX is down 2.1%. Italy’s FTSE MIB is down 2.7%. This follows sell-offs in the U.S. and Asia. Japan’s Nikkei fell by ...
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Kenya economy to grow by 6
Nairobi - Kenya's economy is expected to grow by about 6 percent in 2013, up from a growth rate of 4.6 percent last year, driven by growth in sectors like agriculture, the planning minister said on ...
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‘Mining companies prefer stable rand’
Johannesburg - Mining companies in South Africa, the biggest producer of platinum and fifth-largest of gold, prefer a stable exchange rate because a weaker rand stokes inflation, Chamber of Mines senior executive Roger Baxter ...
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Joburg’s growth boosts national economy
Johannesburg - The City of Joburg has grown at an average rate of 4.2 percent between 1996 and 2011 – higher than the average of the national and provincial economies, which are 3.3 and 3.7 percent ...
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Being gay in the finance industry | Joris Luyendijk
A product control worker tells Joris he doesn't face real homophobia, but that he doesn't see gay people in front-office trading positions. Join him in the ...
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Tesco pledges action on food waste
food wasted by its customers and elsewhere in its international supply chain.After criticism of the prevalence of supermarket "bogofs" (buy one get one frees) and other deals which help to create an annual mountain of ...
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Volatility continues on world wheat markets
UK NEW crop wheat futuresslipped below 180/tonne for the first time since October 2012, but the country's wheat remains among the dearest in Europe. And analysts said it was too soon to begin speculating about the potential for animal feed prices to come down.AHDB/HGCA senior analyst Jack Watts said: "We have a lot to learn about the likely out-turn of the 2013 domestic harvest and ...
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AfDB Approves a USD 100 million Risk Participation Agreement with Commerzbank AG to Boost Trade Finance in Africa
The Board of Directors of the African Development Bank (AfDB) approved on Tuesday, May 22, a USD 100 million unfunded Risk Participation Agreement (RPA) between the AfDB and Commerzbank AG under which the two banks will share the default risk on a portfolio of qualifying trade transactions originated by issuing banks in Africa and confirmed by Commerzbank AG. This facility will help address ...
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Ford to shut down Australian production by 2016
Manufacturing The Ford Motor Company has decided to wind down production in Australia after 85 years. The car maker says the closure of two plants and the loss of 1200 jobs is because of production losses and the small market. "Manufacturing is not viable for Ford in Australia for the longer term," said Chief Executive of Ford Australia Bob Graziano. "Our locally-made products ...
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Global Markets Down After Bernanke QE Talk
The FTSE lost close to two percent in early trading on the back of signs the US may wind down quantitative easing measures and weak Chinese data. The losses were reflected across European bourses, spooked by a seven percent plunge on Japan's Nikkei index. London's benchmark FTSE 100 index retreated 1.74 percent, Frankfurt's DAX 30 slumped 2.33 percent and in Paris the CAC 40 ...
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Eurozone business remains sluggish survey
(20 mins ago) The downturn in eurozone private sector business activity eased in May, even as the recession continued, a widely-watched survey showed on Thursday. The Markit Eurozone Composite Purchasing Managers Index registered 47.7 points, a three-month high and well up on April's 46.9 points albeit still below the threshold of 50 points indicating growth or recession, AFP reports. ...
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UK economy grows 0.3pc in first quarter
(1 hr 8 mins ago) Britain's economy grew by 0.3 percent in the first quarter of the year, official data showed on Thursday, confirming the initial estimate and the nation's success in avoiding a third recession since the 2008 global financial crisis . British gross domestic product grew after GDP had fallen by 0.3 percent in the final three months of 2012, the Office for National ...
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Business confidence hits a low point in Ghana
Growth in economic activity in Ghana has weakened, Governor of the central bank, announcing this on Wednesday, said business and consumer sentiments on growth prospects have also softened amid heightened inflation ...
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Fitch Assigns Final Ratings to Nqaba Finance 1s New Notes
Fitch: Recession Concern Dampens European Investor Sentiment An increasing number of investors expect fundamental credit conditions will deteriorate across sectors, according to a Fitch Ratings investor survey. The more circumspect sentiment was most notable for the sovereign segment, where the proportion of survey respondents anticipating worsening conditions more than doubled to 55%, from 24% ...
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Sensex tanks 400 points Nifty below 6000 on global jitters
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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Dan Bartlett is Wal-Marts new chief image maker
Tim Cook’s congressional debut, following an appearance at Obama’s State of the Union address in Feb, shows the iPhone maker can no longer afford to keep the low profile in ...
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South Africa Minister of Water and Environmental Affairs Edna Molewa Launches the Mining and Biodiversity Guideline and Receives Life - State of South Africas Biodiversity Report
The Minister of Water and Environmental Affairs, Mrs Edna Molewa today, 22 May 2013 on the occasion of the International Day for Biological Diversity (IDB), launched the Mining and Biodiversity Guideline: Mainstreaming biodiversity into the mining sector, in Kirstenbosch, Cape Town. The South African National Biodiversity Institute (SANBI) also handed over the Life: State of South Africa's ...
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STOCKS NEWS EUROPE-EDRAM favours stocks exposed to U.S. economy
* Launches strategic review of U.S. services* FY pretax profit 152.1 mln stg vs 110.2 mln stg* Revenue falls 9.6 pct to 1.33 bln* Maintains guidance as U.S. uncertainty persistsLONDON, May 23 (Reuters) - British defence ...
Latin America Focus
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Latin American unity plagued by tensions
Division and suspicion seem the order of the day in Latin America at present, negating any optimism that the countries of the region may one day move toward a regional integration model based on that of the EU.
Latin America has seen itself become heavily divided over the issue of whether to readmit Honduras to the Organization of American States (OAS) after the 2009 coup, with all the Central American states accepting the new government while big regional players like Brazil and Mexico insist that more must be done before they’ll recognize it. Meanwhile, President Alan Garcia of Peru has told Latin America news providers that there is a quiet arms race occurring in the region. In all, it seems that regional integration along the same lines as the EU remains a long way off at present. Read more
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