World Economy

Persian Gulf Cooperation Council countries may see their current-account surplus decline by $175 billion next year if oil prices stay about $80 a barrel, according to the International Monetary…

Oil major BP said on Tuesday it will raise dividends for the third quarter by 5.3% year-on-year to 10 cents per ordinary share while trimming organic capital expenditure for the full year, Reuters…

Brazil’s financial markets will calm down following Monday’s declines as the country’s new government engages in dialog to promote growth, President Dilma Rousseff said after winning re-…

European stocks dipped on Monday as investors seeing a key index of German business sentiment hit its lowest level in almost two years decided to book some of last week’s sharp gains, Bloomberg…

The Russian government has announced its support for a bill aimed at the collection of taxes from Russian tax residents who use offshore banking and dual taxation treaties to avoid paying taxes in…

Iraq’s economy is likely to shrink 2.7 percent this year, the first contraction since the US-led invasion in 2003, after Islamic State militants occupied swathes of the major oil exporter, the…

The shape of an ambitious pan-Pacific trade agreement was “crystallizing”, trade ministers said Monday, although the United States and Japan remain divided over market access.

Australian…

A key barometer of German business sentiment has dropped to levels not seen in almost two years. The latest Ifo benchmark index suggested Europe’s biggest economy may be in for a bumpy ride in the…

As disputed South China Sea witnesses increased Chinese influence, Vietnamese Prime Minister Nguyen Tan Dung Monday  in New Delhi pitched for India’s “active support” to peacefully resolve…

Turkey’s manufacturing industry capacity utilization rate surged 0.5 percent in October to 74.9 percent compared to the previous month, the central bank announced on Monday, Today’s Zaman reported…

A record five million UK workers are now in low-paid jobs, research from a think tank suggests, BBC reported. Those earning less than two thirds of median hourly pay – equivalent to £7.69 ($12.38…

Vietnam plans to set up a working group to help spur share sales of state enterprises as the government takes steps to bolster a flagging privatization program and drive economic growth. “It will…

The German Saudi Arabian Liaison Office (AHK Saudi Arabia) held a presentation on different trade fairs scheduled in 2015 in Messes Nuremberg in Germany. Andreas Hergenroether, delegate of German…

Vessel operating costs are expected to rise by almost three percent in both 2014 and 2015, the latest survey by international accountant and shipping consultant Moore Stephens reveals.

Lloyds Banking Group’s plans to deliver dividends for the first time in years, as well as becoming fully privatized, could be in jeopardy after the 25% government-owned lender…

Trade officials from 16 Asia-Pacific countries kicked off Monday the intercessional meeting of the Regional Comprehensive Economic Partnership Agreement (RCEP) to accelerate talks.

Azerbaijan plays an important role in ensuring the energy security of Europe. The chairman of the Energy Regulators Regional Association (ERRA) Alparslan Bayraktar made the remarks on Monday…

The Court of the European Union on Monday registered a suit by Russia’s Sberbank contesting the European Council’s decision to impose sanctions against the bank, Ria Novosti reported. Sberbank has…

Australia’s CSL Ltd, the world’s largest blood products company, said on Monday it had agreed to buy Novartis AG’s global influenza vaccine business for $275m, part of the Swiss drugmaker’s drive…

Global stocks rallied after companies from Caterpillar Inc. to Yahoo! posted better-than-estimated earnings and government data signaled a strengthening economy. Fewer Americans filed applications…

Sir David Higgins, the mastermind behind the High Speed 2 railway, believes that an equivalent track in France would come in at one-third of the cost, hs2.org reported.

Unless it springs a major surprise, the US Federal Reserve will call time this week on its program of government bond purchases, which at one point was pumping $85 billion a month into financial…

The Turkish Leather Foundation (TURDEV) is aiming to attract 300 firms from 66 countries to the upcoming ninth annual Istanbul Leather Fair (IDF), said TURDEV Board Chairwoman Ruken Mizrakli,…

China is planning to revive the centuries old Silk Route, or the New Silk Road – a series of routes that were important in the past for cultural interactions and trade…

Over 100 Italian legislators have proposed spending €5 million ($6.3 million) over three years to help install gratis hotspots in thousands of locations across the country, including airports,…