World Economy

The European Union may lose from the mutual exchange of sanctions with Russia hundreds of billions euro and thousands of jobs, the Russian State Duma’s deputy head of the committee on industries…

Canadian energy company Encana said it has agreed to buy Texas’s Athlon Energy for $7.1 billion, in a bid boost the Calgary-based natural gas producer’s shift into oil.

Encana would…

Trade turnover between Russia and Azerbaijan is growing despite economic difficulties, President Vladimir Putin says. Relations between the two countries have been based on trust and friendship,…

The Russian government has submitted a draft federal budget, approved on Sept. 18, for 2015-17 to the State Duma, Itar-Tass reported Tuesday. The federal budget for 2015 envisages revenues at 15.…

Global insurance firms are making a significant move toward private market assets to diversify against the risks that have traditionally underpinned their businesses, said BlackRock, a global…

A Chinese manufacturing gauge fell from an initial reading a week ago as a property slump weighs on the world’s second-largest economy. The Purchasing Managers’ Index from HSBC Holdings Plc and…

Japan’s output unexpectedly fell while stronger retail sales and an improving job market showed resilience in the world’s third-biggest economy as Prime Minister Shinzo Abe weighs another …

Canada’s telecommunications regulator said it won’t take comments from Netflix Inc. (NFLX) and Google Inc. (GOOGL) into consideration when it decides on new rules for TV after the…

The European Commission has announced a further package of €165 million ($209.4m) in support for farmers hurt by Russia’s food ban, Itar-Tass quoted an official statement as saying on Tuesday…

Iron ore will complete a third straight quarterly decline today (Tuesday) to post the longest losing run on record as a slowdown in China’s economy curbs demand growth in the largest buyer and…

Employment growth in Bahrain continued to decline in the second quarter of the year, according to new figures released by the Labor Market Regulatory Authority (LMRA), TradeArabia reported. Total…

The Central Bank of Russia (CBR) has revoked the licenses of three more Russian commercial banks — the Moscow-based Soyuzprombank, Makhachkala-based Esidbank and Samara-based Prioritet Bank, Itar-…

Dubai Municipality will begin monitoring noise levels across the emirate from next month, and take action against companies exceeding the permissible levels of noise.

In a media statement…

After shunning bond auctions for nine weeks amid the worst quarter for ruble debt since 2011, Russia indicated it’s prepared to borrow at more than 9 percent for the first time in almost…

Asian stocks stumbled to a four-month low on Monday as political unrest in Hong Kong rattled investors. Hong Kong shares dropped 2.3 percent to three-month lows in the worst unrest since…

Lenovo Group Ltd will close its acquisition of International Business Machines Corp’s (IBM) x86 server division on Oct 1 for $2.1 billion, giving the Chinese tech firm the firepower to win…

Mario Draghi’s strategy for reviving the euro area looks like devaluation.

Afghanistan President Ashraf Ghani Ahmadzai vowed to tackle endemic corruption and use Afghanistan’s mineral wealth to wean the government off foreign aid after he became the country’s second…

Total annual water consumption in the (P)GCC is 26.5 billion cubic meters yet total water production is only 7.1 billion meters per annum, according to a recent White Paper by industry analysts…

Microsoft has launched the Xbox One in China becoming the first major console maker to enter what could be a massively lucrative market. The first consoles were sold in Shanghai, priced at 4,299…

The US dollar surged to a record high against the Russian ruble in trading on the Moscow Exchange on Monday.

South Korea’s current account surplus reduced to $7.27b in August from $7.84b in July, due to seasonal factors such as a deficit in the travel account at the peak of summer vacation, Central Bank…

The Indonesian government and parliament on Monday agreed to rise the forecast of economic growth next year to 5.8% from the initial target of 5.6% with lower state budget deficit, lawmaker said.…

New Zealand’s central bank intervened in foreign-exchange markets last month, selling the most currency in seven years to weaken the nation’s dollar.

Emirates Steel, the only integrated steel manufacturer in the UAE, will focus on strengthening its presence in the growing Indian market, a senior official has said.