South Korea freezes policy rates

Thursday, 08 August 2013 17:41
Seoul: South Korea's central bank Thursday kept its policy rate on hold at 2.5 percent on the back of solid economic recovery caused by fiscal and monetary stimulus measures.Bank of Korea Governor Kim Choong-soo and monetary policy board members decided…

US consumer credit goes up

Thursday, 08 August 2013 17:40
Washington: US consumer credit increased at an annual rate of 5.9 percent in June, a slower gain than 7.5 percent in the previous month, the US Federal Reserve said.Total consumer borrowing rose from a revised $2.83 trillion in May to…

Toyota recalls 342,000 trucks

Thursday, 08 August 2013 17:38
Chicago: Toyota Motor Corp. is recalling 342,000 Toyota Tacoma trucks made during 2005-11 for faulty seat belts, the company said.Toyota said screws that attach the seat belt pre-tensioner to the retractor within the assembly can become loose due to repeated…

BP to pay $130 mn for oil spill

Thursday, 08 August 2013 13:38
Houston: A US court has ordered British oil giant BP to pay over $130 million to settle claims of Gulf Coast businesses and residents who lost money in the company's 2010 oil spill, a media report said.US District Judge Carl…

Ford fined $17.35 mn over late recall

Friday, 02 August 2013 17:45
Chicago: US automaker Ford Motor Corporation has agreed to pay a penalty of $17.35 million because it did not notify the customers of a defect in a timely manner, media reported.In 2012, Ford recalled about 423,000 Ford Escape and Mazda…

Remittances to Mexico fall

Friday, 02 August 2013 11:42
Mexico City: Remittances sent by Mexicans living abroad fell 9.1 percent to $5.88 billion in the second quarter, compared to the same period in 2012, the Bank of Mexico said.Remittances totaled $6.47 billion in the April-June 2012 period, with the…

South Korean automakers's sales rise

Thursday, 01 August 2013 17:31
Seoul: Global car sales of South Korean automakers rose last month due to a rebound in the local sales and continued overseas demand, industry data showed Thursday.The country's five automakers - Hyundai, Kia, GM Korea, Renault Samsung and SsangYong -…

US private sector adds 200,000 jobs

Thursday, 01 August 2013 12:24
Washington: Private companies in the US added 200,000 jobs in July, indicating a steady improvement in the labour market, a survey said.The number of jobs was slightly up from the revised figure of 198,000 in June and the largest monthly…

Air France to slash up to 2,600 jobs in 2014

Thursday, 01 August 2013 11:30
Paris: French flagship carrier Air France plans to reduce its staff by up to 2,600 next year to help improve its financial assets, a media report said.During a meeting of managers and unions, the airline decided to lay off between…

Indian analyst charged with insider trading on Microsoft-Yahoo deal

Thursday, 01 August 2013 10:57
New York: An Indian Internet analyst charged with providing insider information about a deal between Microsoft and Yahoo to a prominent hedge fund is scheduled to appear before a New York court Friday.Sandeep Aggarwal, 40, a former analyst for San…