30 Jul 2012 - 12:43pm
SEOUL: South Korea said Monday it has won the exclusive right to exploit a deep-sea mine in the Indian Ocean that could produce more than $300 million worth of minerals a year.
The 10,000-square kilometre site contains hydrothermal vents that could yield metals including gold, silver, copper, zinc and lead, the maritime ministry said in a...
26 Jul 2012 - 4:03pm
SYDNEY: Embattled Qantas said Thursday it was in talks with carriers including Emirates to revive its struggling international arm, an alliance that could see its Europe-bound flights routed through Dubai.
The revelation, which saw Qantas's share price soar almost 10 per cent, is part of the Australian airline's drive to turn around its...
26 Jul 2012 - 11:12am
ATHENS: Greece could be heading towards a default on its public debt, under pressure from fed up EU-IMF creditors and caught in a race against time to remain in the eurozone.
On the eve of European Commission President Jose Manuel Barroso's first visit here since the beginning of the debt crisis, tensions in the eurozone ran higher than ever...
25 Jul 2012 - 2:43pm
SINGAPORE: The eurozone crisis is the main risk facing Singapore's economy and financial system, the central bank said Wednesday, warning the city-state to brace for a more adverse turn of events.
Ravi Menon, managing director of the Monetary Authority of Singapore, said any sharp deterioration in the eurozone, the city-state's biggest...
24 Jul 2012 - 4:22pm
SINGAPORE: Malaysian tycoon Ananda Krishnan on Tuesday called on Singapore's high court to enforce an arbitration centre order for his former Indonesian business partner James Riady to pay out $300 million.
The sum was awarded to Krishnan in 2010 by the Singapore International Arbitration Centre, a body set up to settle complex business disputes...
24 Jul 2012 - 10:51am
BRUSSELS: The world market panic that started the week looked all too familiar: an alarming reminder of last summer's financial storm brought on by the eurozone debt crisis.
And much like last year, European leaders hold few tools to stem the chaos in a swift and convincing fashion.
"The problem is about the same as last year, except the...
23 Jul 2012 - 3:59pm
SYDNEY: Australia's mining boom will slow more sharply than expected and could be over within two years due to easing demand from China and falling prices, a leading economic forecaster warned Monday.
Mining exports to industrialising Asian nations, chiefly China, helped Australia weather the global crisis without entering recession and prompted...
22 Jul 2012 - 7:58pm
MANILA: As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and high-fashion house Versace are getting a piece of the action.
The good times are into their fourth year, fuelled by steady economic growth, Western firms offshoring jobs to the Philippines, the buying power of millions of Filipinos working abroad and low...
20 Jul 2012 - 7:36pm
LONDON: The London Olympics pop up on teapots, bunting and a one-eyed mascot -- but strict branding laws are in place to ensure that official products are the only ones in the race.
Union Jack umbrellas bearing the 2012 logo are sure to be a hit if the British weather doesn't brighten up and would contribute to the £1 billion (1.24 billion euros...
19 Jul 2012 - 2:44pm
BEIJING: China's President Hu Jintao said Thursday Beijing would offer $20 billion in new loans to Africa, underscoring the Asian powerhouse's growing links with the resource-rich continent.
The pledge, made at a forum here on China-Africa cooperation, is double the amount Beijing agreed to lend to Africa at the last forum in...
