Reuters - Asian shares are likely to fall on Friday after the U.S. Federal Reserve held off on raising interest rates, reviving concerns about global economic weakness. The dollar was on back foot, having fallen more than 1 percent after the Fed's decision while U.S. bond yields plunged, erasing their…
REUTERS - Saudi Arabia suspended construction giant Saudi Binladin Group from new contracts on Tuesday following Friday's collapse of a crane in Mecca's Grand Mosque which killed 107 people. It also ordered the Finance Ministry to review existing projects by the firm, a titan of the Arab business world. King…
Bloomberg : Pakistan cut its benchmark interest rate as the central bank seeks to encourage economic growth amid falling oil prices. Governor Ashraf Mahmood Wathra lowered the target policy rate to 6 percent from 6.5 percent, the State Bank of Pakistan said in a statement on its website on Saturday.…
Bloomberg : Emirates Telecommunications Group helped Abu Dhabi’s stocks buck losses across most Gulf Arab markets two days before the company allows foreign traders to own its shares directly. Dubai’s gauge dropped closer to a so-called death cross. Etisalat rose 1.4 percent to 14.75 dirhams at the close, bringing its…
Reuters - The dollar was mixed on Tuesday as rising stock markets and positive German economic data gave global investors reasons to throttle down the risk aversion tactics that recently boosted the euro and yen. The dollar, which traders said was unlikely to move much until Feb. 17, when U.S.…
Reuters - Brent crude futures jumped 4 percent on Tuesday as strong stock markets helped the global oil benchmark recover substantially from a 6 percent tumble in the previous session. U.S. crude prices were weaker reopening from Monday's U.S. markets closure for the Labor Day holiday. Stocks on Wall Street…
BEIJING (AP) - Tonhe Electronics is a casualty of Beijing's frantic effort to stop a stock market bust. The maker of electrical equipment, part of a technology industry the ruling Communist Party wants to promote, hoped to raise 200 million yuan ($32 million) from an initial public offering of stock…