xinmsn - Business News

Brazil cancels $900 million in African debt: presidency

2013-05-25T15:25:21

Brazil said Saturday it plans to cancel $900 million (700 million euro) worth of debt in 12 African countries, as part of a broader strategy to boost ties with the continent.

Japan PM vows 'all possible' help for Myanmar economy

2013-05-25T10:56:43

Japan's premier on Saturday pledged "all possible assistance" to kick-start Myanmar's ailing economy, hailing a major industrial zone near Yangon as a symbol of development for the impoverished nation.

Belgium to be rapped by EU over budget but not fined

2013-05-25T10:50:23

The European Commission is set to rap Belgium this week for failing to do enough to trim its budget deficit but is unlikely to go as far as imposing a fine, according to a press report Saturday.

Pair grilled after UK fighter jets escort Pakistani plane

2013-05-25T02:44:04

Two men arrested on a Pakistan International Airlines plane after fighter jets were scrambled to escort it to a London airport remained in custody Saturday for questioning by the police.

Bankia sells City National Bank to Chile's BCI for 683m euros

2013-05-24T22:12:58

Spain's bailed-out lender Bankia on Friday announced it would sell City National Bank of Florida to Chile's BCI for around 683 million euros ($883 million).

Oil prices mixed in pre-holiday trade

2013-05-24T20:43:14

Global oil prices were narrowly mixed in cautious trade Friday ahead of a three-day holiday weekend on both sides of the Atlantic.

Qatar drops bid for ICAO headquarters: Canada

2013-05-24T19:46:12

Qatar has dropped its bid to move the headquarters of the International Civil Aviation Organization from Montreal to Doha, Canadian Foreign Minister John Baird said Friday.

Commodity markets spooked by Bernanke, China data

2013-05-24T16:52:52

Commodity prices mostly fell this week as traders balanced weak Chinese data against signs that the US Federal Reserve could curtail its quantitative easing stimulus policy sooner rather than later.

Two arrests after UK fighter jets escort Pakistani plane

2013-05-24T15:53:44

British police arrested two men on a Pakistan International Airlines plane after fighter jets were scrambled to escort it to a London airport on Friday following an "incident".

Under-pressure Slovenia adopts fiscal 'golden rule'

2013-05-24T15:31:34

Slovenia's parliament on Friday adopted a new balanced budget law and made calling referendums more difficult, in an attempt to restore investor confidence in the embattled eurozone country.

Portugal warns of deficit target miss

2013-05-24T15:25:56

Portugal may request a third revision to deficit targets agreed with EU-IMF creditors as part of its 78-billion euro international bailout, Prime Minster Pedro Passos Coelho warned Friday.

British fighter jets escort diverted Pakistani plane

2013-05-24T13:49:30

British fighter jets were scrambled to escort a Pakistan International Airlines plane to a London airport on Friday after an incident onboard, officials said.

Pakistani plane lands in Britain after jet escort: police

2013-05-24T13:34:13

A Pakistani International Airlines plane landed at Britain's Stansted airport on Friday after fighter jets were scrambled to investigate an incident on board, police said.

British fighter jets escorting plane in UK airspace: ministry

2013-05-24T13:27:44

Fighter jets have been scrambled to investigate an incident involving a plane in British airspace, a Ministry of Defence spokesman said on Friday, amid reports it was a passenger flight from Pakistan.

Spaniards rail at Bankia as savings evaporate

2013-05-24T13:27:02

Spanish savers vented their fury against bailed-out Bankia on Friday after the already-diminished value of their stock investments in the bank plummeted by more than half in a single day.

Austrian bank chief quits under cloud

2013-05-24T13:25:46

The chief executive of one of Austria's biggest banks, Herbert Stepic of Raiffeisen Bank International (RBI), tendered his surprise resignation on Friday after magazine revelations about personal foreign investments.

Air China says orders 100 Airbus A320 jets worth $8.8 bn

2013-05-24T13:23:55

Air China said on Friday it had ordered 100 Airbus A320 series medium-range single-aisle passenger jets, which carry a catalogue price of $8.8 billion (6.8 billion euros).

British Airways plane makes emergency landing at Heathrow

2013-05-24T13:02:29

A British Airways plane was forced to make an emergency landing at London's Heathrow airport on Friday with smoke billowing from one of its engines, causing heavy disruption to flights.

Russia hires J.P. Morgan to avoid ratings downgrade

2013-05-24T12:43:06

Russia's finance ministry said on Friday it had hired the US banking major J.P. Morgan as a consultant for helping improve its image with the world's three main ratings agencies amid worries of an imminent downgrade.

Weidmann says default should be option for eurozone countries

2013-05-24T12:34:10

The head of the German central Bundesbank Jens Weidmann said on Friday that eurozone countries should be able to default, a possibility which the EU has gone to great lengths to avoid during the current crisis.

Eurozone sees bank union progress by June

2013-05-24T11:58:19

Key obstacles to a banking union, seen as a keystone in locking down the debt crisis, should be resolved within the next few weeks, the official in charge of the day-to-day operation of the eurozone told AFP in an exclusive interview.

Two injured as plane skids off runway in Bulgaria

2013-05-24T10:59:53

Two passengers were injured when their plane skidded off the runway while landing at Bulgaria's Black Sea airport of Varna on Friday morning, aviation and hospital officials said.

Russia hires J.P. Morgan as ratings consultant

2013-05-24T10:59:40

Russia's finance ministry said on Friday it had hired the US banking major J.P. Morgan as a consultant for helping improve its image with the world's three main ratings agencies.

Oil market slips before US data

2013-05-24T10:57:09

Global oil prices fell on Friday in quiet trading as dealers awaited US economic data, analysts said.

Germany builds up new steam for growth

2013-05-24T10:55:36

The German economy, after starting the year weakly, looks set to gather momentum later with consumer and business confidence on the rise, data indicated on Friday.

China inks accord with US to share audit files

2013-05-24T10:47:39

China has signed an agreement with the United States to share company audit files, it said Friday, paving the way for more probes into accounting scandals involving Chinese firms listed in the US.

Gloom over French manufacturers lifts in May: survey

2013-05-24T10:00:09

French manufacturers turned sharply brighter about their business prospects in May because activity was unexpectedly buoyant and orders were picking up, official survey data showed on Friday.

India's Jet Airways shareholders approve Etihad deal

2013-05-24T09:06:18

Shareholders of India's Jet Airways on Friday approved a deal in which Abu Dhabi-based airline Etihad will take a 24 percent stake in the private carrier, media reports said.

London's Heathrow airport closed after emergency landing

2013-05-24T08:21:50

Both runways were closed at London's Heathrow airport on Friday, a spokeswoman said, after a British Airways plane reportedly had to make an emergency landing.

German business confidence up unexpectedly in May: Ifo

2013-05-24T08:16:48

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.