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(MENAFN - AFP) Russia's central bank cut Friday its main interest rate to 15 percent from 17 percent in a move that caught markets by surprise, sending the ruble tumbling.

"The Bank of Russia Board of Directors decided to reduce the key rate from 17.00 to 15.00 percent per annum," the central bank said in a statement.

It added the cut was "aimed at averting the sizeable ...

 
(MENAFN - AFP) Eurozone consumer prices fell by a record 0.6 percent in January, confirming deflation could be taking hold for the long term, EU data showed Wednesday.

The drop from minus 0.2 percent in December appears to back the European Central Bank's decision last week to launch a bond-buying spree to drive up prices.

Plummeting world oil prices were largely to ...

 
(MENAFN - AFP) Honda cut its full-year profit forecast on Friday as the Japanese automaker grapples with soaring recall costs, including from an exploding airbag crisis linked to at least five deaths.

The downgrade came after Honda said it was probing a fatal crash in the United States that may have been caused by a defect in airbags made by embattled supplier Takata, which ...

 
(MENAFN - AFP) With a giant stainless steel elephant, a graffiti mural and a dying tree branch, the India Art Fair opened Friday hoping to tap into the country's growing demand for contemporary art.

Growing wealth has fuelled an interest in art collecting among India's super rich, but the New Delhi fair's organisers said a rapidly rising middle class has also played a role ...

 
(MENAFN - AFP) Eurozone consumer prices fell by an alarming 0.6 percent in January, accelerating further into negative territory and confirming deflation could be settling in for the long term, EU data showed Wednesday.

The drop, brought on by plummeting oil prices, follows a historic decision by the European Central Bank last week to launch a 1.14-trillion-euro ($1.27-trillion) ...

 
(MENAFN - AFP) Qatar Airways on Friday said it had purchased almost 10 percent of IAG, parent of British Airways and Spanish carrier Iberia, the second European entry by a Gulf carrier.

"As part of efforts to enhance operations and strengthen existing commercial ties... Qatar Airways has acquired a 9.99 percent stake in IAG," the company said in a statement.

The airline's ...

 
(MENAFN - AFP) Honda on Friday cut its full-year net profit forecast as the Japanese automaker faces soaring recall costs, including those from an exploding airbag crisis linked to at least five deaths.

The downgrade came as Honda said late Thursday that it was probing a deadly crash in the United States possibly linked to exploding airbags made by embattled supplier Takata, ...

 
(MENAFN - AFP) Philipp Mattheis knew his gaming app was addictive when he realised he kept checking his phone -- hooked by the brightly-coloured reminders telling him to play again or risk falling from the triple-figure level he had reached.

Yet gripping the German journalist's attention was not Candy Crush, but one of a new generation of Chinese language apps that are using ...

 
(MENAFN - AFP) Fifty years after Winston Churchill's death, the wartime prime minister remains a touchstone of British political life -- and a reminder of a faded age of global influence.

Top politicians will be among those attending a re-enactment of his funeral procession in London on Friday, 50 years to the day since it was watched on television by 350 million people, ...

 
(MENAFN - AFP) When Bulgarian police on January 1 arrested Frenchman Fritz-Joly Joachin, a self-confessed "old friend" of the Charlie Hebdo attackers, he was not the first suspected Islamist trying to cross the EU's south-eastern border into Turkey.

Indeed, Bulgarian Interior Minister Veselin Vuchkov says, "hundreds" of Europeans have travelled to Bulgaria to traverse the ...

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