Latest News

China needs more stimulus to meet growth goal

China’s efforts to stimulate the world’s second-largest economy are insufficient so far to achieve the government’s growth target of about 7.5 percent, according to a survey of analysts. Survey said China will need to “somewhat” increase stimulus to meet the 2014 expansion goal, even after growth accelerated to that pace [...]

NY Fed found serious problems at Deutsche Bank’s US arms

FRANKFURT: The Federal Reserve Bank of New York has found serious problems in Deutsche Bank’s U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told media. In a letter to the German lender’s executives last December, a senior official with [...]

StanChart among biggest London fallers

Shares in Standard Chartered were among the biggest fallers on the FTSE 100 on Wednesday after a report said the bank called a halt to expansion plans in its Asian heartlands. The company is seeking to conserve capital after a slide in profits and a slowdown in its core emerging [...]

Too many bankers hurt Hong Kong IPOs

Companies going public in Hong Kong are getting the message that less is more. Betting they could fetch higher valuations, Chinese companies hired sometimes dozens of banks to sell their initial public offerings in the last two years. The trend backfired, as the IPOs tended to underperform those using fewer [...]

Is Putin on the skids?

WHAT do we know about Malaysian Airlines flight MH-17? It was the second Malaysian Airlines plane to perish in four months with a total of over 500 victims, and thousands more forever grieving. It was shot down – probably by a surface to air missile (SA-11). It was probably a [...]

Chinese reform key to Brics success

RARELY has an acronym led such a charmed life as Brics. Casually invented by former Goldman Sachs economist and Bloomberg View columnist Jim O’Neill to label emerging markets of promise, it actually brought together leaders from the disparate countries of Brazil, Russia, India, China and South Africa. Last week in [...]

PTI long march to be handled with wisdom, not force: Saad

Minister for Railways Khawaja Saad Rafique said on Wednesday the government would tackle Pakistan Tehreek-i-Insaf’s long march through wisdom and acumen, and not through using force. Talking to the media after attending a meeting to finalize arrangements for “Azadi Train” to be launched on August 14, he said, “The government [...]

FIFA’s Blatter raises alarm over Gaza crisis

FIFA chief Sepp Blatter on Tuesday raised the alarm about the spiralling Gaza crisis as he held talks with the head of the Palestinian Football Association. “I am very much concerned with this situation in the region. We are heartbroken to learn that people from the football community have been [...]

Welsh boxer Evans barred from games

Olympic silver medallist Fred Evans has been denied the chance to compete in the Commonwealth Games after his accreditation was refused. The Welsh welterweight has been told he will not be allowed to compete in Glasgow following checks by the Home Office Commonwealth Games officials. Wales team chief Brian Davis [...]