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(MENAFN - AFP) The Chinese government said on Tuesday it will scrap long-standing state price controls on most medicines, effective June 1, as part of market-oriented reforms.

The government will no longer impose upper limits on retail prices for drugs, government agencies including the National Development and Reform Commission (NDRC) and National Health and Family Planning ...

 
(MENAFN - AFP) Qatar is to build seven "cities" to house more than a quarter of a million migrant labourers building major infrastructure and projects for the 2022 World Cup, officials said Tuesday.

Government officials said all seven should be built by the end of 2016 and that the largest, "Labour City" for 70,000 people and complete with its own 24,000-seat cricket stadium, ...

 
(MENAFN - AFP) The US trade deficit swelled in March to a six-year high as imports surged after the end of the West Coast port strike and the dollar stayed strong.

The yawning trade gap raised expectations that the initial estimate of first quarter growth in the world's largest economy could be cut from a weak 0.2 percent annual rate to possibly a contraction, with no momentum ...

 
(MENAFN - AFP) Oil prices edged higher on Tuesday as the market seeks to build on strong gains in April following massive falls earlier in the year.

US benchmark West Texas Intermediate for delivery in June won 56 cents to $59.49 a barrel.

Brent North Sea crude for June won 47 cents to stand at $66.93 a barrel in London midday deals.

After slumping at the start ...

 
(MENAFN - AFP) Eurozone stocks slumped Tuesday as Greece once again cast a shadow over sentiment, but London rose as British investors nervously eyed the looming general election and played catch-up after a long holiday weekend.

London's benchmark FTSE 100 rose 0.41 percent to 7,014.33 points from Friday's close, with less than 48 hours to go until Britons head to the polls ...

 
(MENAFN - AFP) Scandal-hit global bank HSBC on Tuesday posted rising quarterly profits, but added regulators have requested more information about its controversial Swiss division.

Earnings after tax climbed to $5.26 billion (4.75 billion euros) in the three months to the end of March, compared with $5.21 billion a year earlier, the Asia-focused bank reported in a results ...

 
...
 
(MENAFN - AFP) Europe's stock markets climbed Tuesday, with London rising as British investors nervously eyed the looming general election and played catch-up after a long holiday weekend.

In midday deals, London's benchmark FTSE 100 won 0.45 percent to 7,017.20 points from Friday's close, with less than 48 hours to go until Britons head to the polls on Thursday.

The ...

5 May 2015   EU eyes McDonald's tax probe 
 
(MENAFN - AFP) The EU may probe sweetheart tax deals that US fast food icon McDonald's allegedly agreed with Luxembourg, the bloc's competition chief said Tuesday, adding to a growing list of suspects.

"We are looking if we should open a case on McDonald's" based on information supplied by unions, EU Competition Commissioner Margrethe Vestager said.

"It is to see if ...

 
(MENAFN - AFP) Scandal-hit global bank HSBC said Tuesday that net profits climbed by almost one percent in the first quarter, aided by a "strong" performance at its investment banking division.

Earnings after taxation climbed to $5.26 billion (4.75 billion euros) in the three months to the end of March, compared with $5.21 billion a year earlier, the Asia-focused bank reported ...

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