Global Business | The Daily Star
  • China relieved after trade tension; US business ambivalent

    China on Monday praised a significant dialing back of trade tension with the United States, with the government saying agreement was in the interests of both countries while state media trumpeted what it saw as China's refusal to surrender.

  • Apple, Goldman Sachs working on credit card

    Apple is working with financial giant Goldman Sachs on a credit card that would carry the iPhone maker's digital wallet logo, according to a report Thursday in the Wall Street Journal.

  • JP Morgan looks to expand in China

    Wall Street titan JP Morgan Chase has become the latest firm to apply for a controlling stake in a Chinese securities venture, taking advantage of new rules Beijing put in place last month as part of a move to open up the economy.

  • Brexit seen threatening UK links in EU supply chain

    Mandy Ridyard knew Brexit was going to be a challenge for her aviation components firm, but it was still a shock when she heard a French company bluntly ruling out British suppliers from an international bid for a contract in China.

  • Airbus, Boeing fly into lucrative services market

    Airbus and Boeing may have built their global success on the back of the transcontinental airliners but they are now eyeing a lucrative if rather less glamorous side of the aviation sector in their battle to dominate the skies -- parts and repairs.

  • ZTE woes loom as US-China trade tensions rise

    With a major Chinese smartphone maker on the rocks following US sanctions, the trade spat between Washington and Beijing appears to be taking a turn for the worse for tech firms in the two global economic powerhouses.

  • Difficult to shield German firms after US withdrawal from Iran deal: minister

    Germany wants to help its companies continue doing business in Iran after the US decision to reimpose sanctions against Tehran, but it could be difficult to shield them from any fallout, Foreign Minister Heiko Maas said on Sunday.

  • Asia coal industry sees blue skies, ignores storm clouds

    Asia's coal miners, shippers and traders are seeing strong demand and rising prices for their fuel, and they expect this happy situation to persist for several years to come.

  • Apple scraps $1b Irish data centre over planning delays

    Apple ditched plans to build an 850 million euro ($1 billion) data centre in Ireland because of delays in the approval process that have stalled the project for more than three years, the iPhone maker said on Thursday.

  • ZTE teeters as US ban hits operations

    Chinese telecom giant ZTE faces a grim future after ceasing major operations due to a US ban on American sales of critical technology to the company, raising the stakes in a trade spat between the world's two largest economies.

  • S Korea puts pressure on Samsung over complex ownership structure

    South Korean regulators turned up the heat on Samsung Group over its complex ownership structure, with the country's antitrust chief saying on Thursday the arrangement for control at the nation's top conglomerate was “not sustainable”.

  • Sri Lanka sharply raises fuel prices

    Sri Lanka hiked fuel prices Thursday by up to 130 percent following pressure from the International Monetary Fund and its central bank to reduce the burden of heavy subsidies on its struggling economy.

  • Oil edges up

    Oil prices edged higher on Thursday despite swelling US crude inventories and record weekly US production, as focus shifted back to Opec supply cuts and the potential of new US sanctions against Iran.

  • Slowing growth is another headwind for Asian currencies

    The spectre of slower global economic growth presents another threat for Asian currencies, many of which are already under pressure from rising US yields and capital outflows.

  • Measuring Macron: Is France's leader rebooting the economy?

    French President Emmanuel Macron swept into office last May on a pledge to create jobs and improve the lives of workers by rebooting the country's economy.

  • Rural purchases to boost Indian gold demand: global council

    Indian gold demand may improve through to December as positive monsoon rains and government efforts to raise farmer incomes could boost rural purchases enough to offset higher prices because of the weak rupee, the World Gold Council (WGC) said.

  • Bangladesh, an example for other Asian countries: ADB chief

    ADB President Takehiko Nakao yesterday appreciated the economic growth Bangladesh has achieved in the recent years, saying “the success stories of the country can be a very good example for other Asian countries”.

  • Euro zone economy to slow next year, downside risks increase: Commission

    Euro zone economic growth will slow this year and next from a peak expansion in 2017, the European Commission forecast on Thursday, underlining the need to quickly implement euro zone reforms while the expansion is still strong.

  • Spain sells 4.5b euros of debt at bond sale

    Spain sold 4.5 billion euros ($5.4 billion) of debt on Thursday at a four-bond auction with yields mixed as investors watch monthly euro zone preliminary inflation data while the European Central Bank plans to roll back its stimulus scheme.

  • Turkish inflation surges in April

    Turkey's inflation rate edged up to almost 11 percent in April, official statistics showed Thursday, adding to fears that the economy is overheating less than two months ahead of elections.

  • Germany wants wider trade talks with US even if tariffs hit

    Germany on Monday dampened hopes that an exemption from US tariffs on steel and aluminum could be extended for European Union countries, but called for trade negotiations to continue regardless of whether the levies are applied.

  • Banks push back Bank of England rate forecasts

    Banks have pushed out their predictions for when the Bank of England will raise interest rates after data last week showed a sharp and unexpected slowdown in Britain's economic growth.

  • Brussels begins big battle on post-Brexit budget

    The EU will this week unveil its first formal plans for a larger, one-trillion-euro-plus long-term budget after Britain's departure, which threaten to further deepen divisions in the bloc.

  • Japan, UAE agree to expand cooperation during Abe's visit

    Japan and its top trade partner in the Middle East, the United Arab Emirates, agreed on Monday to expand economic, political and defence cooperation.

  • US Fed faces new challenge: a world without labour ‘slack’

    Business is coming in so fast and workers are in such high demand at AOW Associates Inc, an Albany, New York-based construction firm, that its chief financial officer hired a guy six weeks ago for a job that didn't exist.

  • US treasury chief cautiously optimistic on China trade talks

    US and Chinese officials will hold highly anticipated trade talks in China on Thursday and Friday, US Treasury Secretary Steven Mnuchin

  • T-Mobile, Sprint say $26b deal would give US tech lead over China

    T-Mobile US Inc and Sprint Corp said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over

  • Dollar pushes towards 3-month high

    The dollar rose on Monday and held just below its strongest level since mid-January, with weaker-than-expected German retail sales knocking euro zone sentiment as investor appetite for the greenback improves.

  • China's Baidu to sell majority of financial services unit for $1.9b

    China's Baidu Inc said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management LP and Carlyle Group LP, as it seeks funding to take on established fintech firms in China.

  • China manufacturing activity slows in April

    Factory activity in China slowed marginally in April but beat expectations, official data showed Monday, while analysts warned of headwinds as credit growth eases.