(MENAFN - AFP) A reported $81 billion injection into China's major banks is probably the first of a series of fresh stimulus measures by Beijing to boost its flagging economy, the world's second largest, analysts said on Wednesday.
Online portal Sina late Tuesday quoted financial institutions as saying the People's Bank of China (PBoC), the central bank, would channel 500 ...
(MENAFN - AFP) The United States is likely to remain the world's largest market for diamonds for the next 15 years despite a growing appetite for the gems from China and India, leading producer De Beers said on Wednesday.
China has the fastest growing demand, jumping to a share of about 15 percent of the world's diamond market from less than three percent in 2003.
(MENAFN - AFP) Sony on Wednesday raised its forecast annual loss more than fourfold to $2.14 billion, blaming its struggling mobile phone business.
The Japanese electronics giant said it now expects to lose 230 billion yen in the fiscal year to March 2015, up from a previous forecast net loss of 50 billion yen and reflecting a drop in the value of its mobile unit.
(MENAFN - AFP) Ratings agency Standard & Poor's lowered Venezuela's credit rating Tuesday one notch to CCC+, saying "continued economic deterioration" put it at risk of a debt default in the next two years.
The downgrade puts the struggling South American oil giant deep into "speculative grade" rating territory, a warning to investors that the country faces "at least ...
(MENAFN - AFP) France's crisis-hit government on Tuesday narrowly won a crunch parliamentary vote of confidence in its economic reform path, in a rare respite for the deeply unpopular President Francois Hollande.
French deputies voted 269 to 244 in favour of the government's policies, after an impassioned speech by Prime Minister Manuel Valls, who vowed to press ahead with ...