Result Page 60 for Latest World News & Archive

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Decline in drilling, oil prices up

The drop in oil inventories and shut down in drilling activity for the past 3 weeks have pushed oil prices upwards. Oil crude rose 4.5% to $46.68 per barrel and US Brent price rose $48.91 a barrel on Monday.

Sep 22, 2015 6:13 PM EDT

News

Australian banks close 13 bitcoin firms' accounts

Four Australian banks have closed down the accounts of 13 bitcoin firms following the stricter norms on anti-money laundering and terrorism finance. The Australian banks have already sent letters to 17 more bitcoin firms stating that their accounts will be closed down.

News

Chinese firms sign L.A-Las Vegas high-speed rail project

After 10 years of working on the project, the high-speed rail link between Los Angeles and Las Vegas is taking off following the signing of a deal by a group of Chinese firms with XpressWest, a US company. The China President Xi Jinping is visiting the US, during his tour next week, the project will be announced.

News

Crisis-hit Puerto Rico takes up VAT route to shore up revenues

Caribbean islan Puerto Rico has decided to implement VAT system from 1 April 2016 onwards exempting its manufacturing industry from paying taxes on imports of raw materials. The new tax system has been designed with an aim of facilitating the much controversial $1.5-bn stimulus plan for reviving the ailing economy. The Islan has also increased sales tax.

Brexit is the highlight for EU-UK talks

David Cameron and few officials have been actively meeting with European Council to seek out options best for Britain. The result whether Britain will still become an EU members or not could be known as early as next year.

Sep 21, 2015 11:04 PM EDT

Alibaba and Suning Partnership Could Change China's E-commerce Domination

China e-commerce sompetition is getting fierce as AliBaba and Suning had agreed to a partnership. The partnership could see both companies grow their customers with the latest O2O strategy to outrun current market leader JD.com.

Sep 21, 2015 10:08 PM EDT

US export companies look to other shores as EXIM shuts down

The US companies engaged in foreign trade and aviation firms find it difficult to run the show following the closure of the US Export-Import Bank (EXIM). This causes non-availability of export financing and loan guarantee for the US companies. As a result, many comapnies are planning to shift out of the US to establish units overseas. Aerospace Industries Association is lobbying with Congress members for revival of EXIM.

Sep 21, 2015 9:50 PM EDT

Mitsubishi Motors in US calls it a day

Mitsubishi Motors is closing down its US operations following high production costs and low volumes. The Japanese automobile major was hit by strong US dollar that makes imports attractive.

Sep 21, 2015 2:02 AM EDT

Even Google is confused on how much value it adds to the UK economy

US tech giant Google recently reported how much value it adds to the UK economy, which the search engine does to most nations where it operates in. It reports that it helped created 210,000 jobs, and an additional £11 billion to £28 billion revenue for business in the UK.

Sep 21, 2015 1:56 AM EDT

Asian shares advance as Fed keeps rates unchanged

Asian markets advanced Friday, buoyed by the US Federal Reserve's decision to keep interest rates near zero. But Japanese shares fell as the yen strengthened.

Sep 20, 2015 11:57 PM EDT

New rules to relief Cuba embargo laid out by White House

White House is laying out new rules to lessen the pressure on Cuba embargo. Businesses such as telecommunication and banking will be allowed to establish through joint ventures with Cuban firms like Etesca.

Sep 20, 2015 11:35 PM EDT

Cuba renews drive for UN to condemn US embargo

Cuba is marshaling United Nations support against the US embargo that it says crippled its economy over five decades. Among the Communist state's supporters are President Obama and Pope Francis, who is visiting the Communist state this week.

Sep 20, 2015 11:16 PM EDT

American Airlines halted U.S. flights after a technical problem

American Airlines had grounded its flights Thursday afternoon. This is due to the airline's computer glitch. Flights had been resumed after two hours.

Sep 20, 2015 10:48 PM EDT

Oil price further skids on renewed global concerns

Oil prices on Friday eased further following the renewed fears about the global economy. The US central bank warned that global economy is weakening. China's economy is slowing down and growth rate is expected to be below 7% this year. Adding to this, Opec is firm on maintaining its production level. All these factors are increasing pressure on oil prices.

Sep 20, 2015 10:33 PM EDT

China growth rate may slip below 7% in Q3

The global markets witnessed major crash in August following the China's economy slow down, Yuan devaluation, discouraging manufacturing numbers, etc, Now, the markets are recovering. But, economists, fund managers caution that the party is not over. China may slip in recession in next quarter or six quarters later.

Sep 20, 2015 10:05 PM EDT