China's FDI inflow rises

Friday, 23 August 2013 17:55
Beijing: Foreign direct investment (FDI) in China surged 24.13 percent year-on-year in July, data from the Chinese ministry of commerce showed Friday.China attracted $9.41 billion in FDI last month, and in the first seven months of this year, the volume…

US regulator fines Morgan Stanley

Friday, 23 August 2013 17:53
Washington: The US Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley $1 million and ordered another $188,000 in restitution plus interests for its failure to provide the best execution and a fair price in customer transactions.FINRA, the largest independent…

Olympus fails to declare $124 mn of income

Friday, 23 August 2013 12:43
Tokyo: Tokyo's tax officials have found that Olympus Corp. failed to declare 10.3 billion yen (about $124 million) in taxable earnings over a five-year period, following transactions between its domestic and Britain-based companies.According to the tax officials Thursday, Olympus is…

BRICS businesses want multiple-entry visas, portal for partnership

Wednesday, 21 August 2013 16:35
Johannesburg: Business leaders from five BRICS (Brazil, Russia, India, China and South Africa) countries have asked their governments to create multiple-entry business visas valid for longer periods and consider creating a BRICS business travel card to make doing business easier.Onkar…

First BRICS Business Council meets in South Africa

Monday, 19 August 2013 17:00
Johannesburg: Business leaders from Brazil, Russia, India, China and South Africa (BRICS) are meeting here Monday to identify specific measures to eliminate barriers to growing trade and investment.Prominent business leaders from 19 other African countries are also taking part in…

LGBTs have high income, says business forum

Saturday, 17 August 2013 16:53
Prague: The lesbian, gay, bisexual and transgender (LGBT) community is rich and has a high disposable income that makes it attractive in times of recession, according to a business forum held here.The third edition of the Prague Pride Business Forum…

GM recalls 340,000 cars over brake glitch

Saturday, 17 August 2013 16:24
Washington: US automaker General Motors Corporation (GM) is recalling nearly 340,000 Chevrolet Cruze cars over a brake-related problem, a media report said.The Detroit-based automaker said the brake problem has been found only in Cruzes with the 1.4-litre turbocharged engine and…

Sharif approves Pakistan-China trade corridor plan

Saturday, 17 August 2013 09:45
Islamabad: Prime Minister Nawaz Sharif Friday principally approved the proposed alignment of Pakistan-China Trade Corridor, officials said.He, however, directed for further evaluation of the proposal in terms of time and cost efficiency.Pakistan-China Economic Corridor, is the future of the country…

Singapore's export performance remains weak

Friday, 16 August 2013 17:09
Singapore: Singapore's non-oil domestic exports (NODX), a key indicator of the country's export performance, fell 0.7 percent year-on-year in July, according to official statistics released Friday.This fall was reported following the 8.9 percent decrease in the previous month, mainly due…

IBM acquires Israeli data security company

Friday, 16 August 2013 12:40
Jerusalem: US technology giant IBM announced that it has purchased Israeli data security company Trusteer, Globes economic daily reported.According to the report, the deal is estimated to be valued at $630 million in addition to millions of dollars' salary payment…