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(MENAFN - AFP) Australia's economy lost pace in the second-quarter of 2014 after a sharp fall in exports saw growth expand by just 0.5 percent following a strong start to the year, data showed on Wednesday.

Annual growth was 3.1 percent, figures from the Australian Bureau of Statistics said, compared to a year-on-year expansion of 3.5 percent in the first-quarter.

Growth ...

 
(MENAFN - AFP) US mining giant Newmont has reached a tentative agreement with the Indonesian government that should allow it to resume exports after they were halted due to controversial restrictions on mineral shipments, reports said Wednesday.

The company stopped exporting copper from its huge Batu Hijau mine in central Indonesia in January when Southeast Asia's top economy ...

 
(MENAFN - AFP) After two years of shrinking Indian sales, automakers are moving back into the fast lane as the economy picks up, although analysts say it may be a few years before the industry goes full throttle again.

Car sales grew for a fourth straight month in August in what analysts say heralds a brisk religious holiday season - the two-month period ahead is seen as ...

 
(MENAFN - AFP) Asian stocks were broadly higher on Wednesday as investors welcomed strong US manufacturing data while Hong Kong tacked on more than two percent following a positive reading on China's services sector.

The dollar held above the 105 yen mark after breaking it Tuesday for the first time since January, sparking a rally in Japanese exporters.

Tokyo rose 0.38 ...

 
(MENAFN - AFP) Japan's All Nippon Airways (ANA) and Lufthansa of Germany on Wednesday announced an air cargo tie up as they look to fight off intense competition from budget airlines on passenger routes.

The airlines said they had won regulatory approval for the agreement, which will see them integrate network planning, pricing, sales and handling on all routes between Japan ...

 
(MENAFN - AFP) Australia on Wednesday banned uranium sales to Russia over its actions in Ukraine while announcing it will set up an embassy in Kiev and may offer military assistance.

The announcement by Prime Minister Tony Abbott came just days after Canberra said it would toughen its sanctions against Moscow so they match those of the European Union.

Abbott told parliament ...

 
(MENAFN - AFP) Potential buyers of Cyprus Airways have until Wednesday to submit non-binding offers for the loss-making national carrier, with Ryanair and Aegean Airlines in the running.

Ireland's budget carrier Ryanair said last week that it was ready to submit a firm offer for Cyprus Airways, before the government extended last Friday's deadline for non-binding offers to ...

 
(MENAFN - AFP) Norwegian Cruise Line Tuesday announced plans to acquire Prestige Cruise International for $3 billion as it seeks to expand its offerings to the upscale shipboard vacation market.

Norwegian, which currently owns 13 ships operating in North America, the Baltics and other sites, said the deal will add Prestige's upscale and luxury cruise brands, known as Oceania ...

 
(MENAFN - AFP) The International Monetary Fund warned on Tuesday that economically-devastated Ukraine may need an extra $19 billion (14.5 billion euros) in assistance should it fail to quell its brutal pro-Kremlin uprising by the end of next year.

The global lender said it was releasing the second $1.39-billion tranche of its $17.1-billion lifeline despite "major uncertainties" ...

 
(MENAFN - AFP) Growth in Switzerland has ground to a halt, official data showed Tuesday, suggesting that while the wealthy Alpine nation has survived years of European financial turmoil relatively unscathed, weakness in the eurozone has begun to rub off.

Between April and June Swiss gross domestic product stagnated, with zero growth from the previous quarter, according to ...

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