Xinhua, Seoul : South Korea plans to unveil its three-year plan for economic innovation next month mentioned by President Park Geun-hye during her news conference on Monday, local media reported Tuesday. “As President Park said during the New Year’s speech, we will draw up the three-year economic innovation plan as soon as we can and unveil it by the end of February,” Yonhap news agency quoted Finance Minister Hyun Oh-seok as saying. Hyun added that the plan will especially deal...
Xinhua, Frankfurt : A survey released by a market research company Monday showed that the economic recovery in the eurozone accelerated at the end of 2013. The final euro zone Purchasing Manager Index (PMI) Composite Output Index rose to 52.1 in December from 51.7 in November, the second highest level during the past two and a half years, according to the survey result of Markit, a leading global financial information services company. It is a sign that the economic recovery...
AFP, Zurich : Switzerland’s central bank said Monday it lost billions in 2013 as gold prices plunged and therefore could not pay dividends to the Swiss cantons for the first time in more than a century. The Swiss National Bank (SNB) has been dishing out dividends to the Swiss cantons ever since its creation in 1907, and to the Swiss Confederation since 1991. But on Monday the bank said neither would receive handouts this year, after provisional figures showed it...
Xinhua, Hanoi : The signing of free trade agreements, which are expected to conclude in 2014, will contribute to boosting exports of Vietnamese commodities, said an official of Vietnam’s Ministry of Industry and Trade (MoIT). Tran Thanh Hai, deputy general director of Import-Export Agency under MoIT said on the website of the ministry Monday that trade cooperation documents including the Trans-Pacific Partnership (TPP), and free trade agreements (FTAs) between Vietnam and the European Union (EU), the European Free Trade Association...
By Doug Gross, CNN STORY HIGHLIGHTS Samsung says its Galaxy S5 phone will be released by April Vice...
Xinhua, LondonMore than 500 people from various circles of Britain gathered in London Tuesday exchanging views on China’s transformation and the opportunities for British Companies, as British Prime Minister David Cameron claimed that China is a market that the two countries can cooperate for growth and reform.At the Chinese Business Conference, the third of the annual event organized by the China Britain Business Council in London, participants had in-depth discussions on such subjects as China in transformation, positioning Britain, opportunities...
Xinhua, WashingtonSeveral US economic indicators improved in 2013, but millions of Americans remain jobless after the end of the worst economic downturn in decades.Americans’ confidence in the US economy saw a boost in 2013, with May and June marking the two best months since 2008, according to a Gallup report released Thursday.U.S. consumer spending-the driving force of the world’s largest economy-reached its highest level since 2008, with Americans reporting a jump in their daily spending to 88 U.S. dollars in...
Xinhua, SingaporeSingapore’s central bank has said that the country is not in danger of being caught in a credit bubble that puts it or the banking system at any risk of crisis.Local daily Straits Times Wednesday quoted the bank as saying in a statement that “serious observers and investors” have no doubt over the nation’s financial health.It highlighted three facts, with the first being that the property market is stabilizing. It also said that the household balance sheets are strong...
Business DeskThe 135th Executive Committee meeting of Takaful Islami Insurance Limited was held at the head office of the company recently. Chairman of the Executive Committee Md Humayun Kabir Patwary presided over the meeting which was attended by Emdadul Haque Chowdhury, Md Mofiz Uddin, Md mohiuddin and other members of the committee.KAM Ferdous, Managing Director and Abul Kalam Azad, General Manager and Company Secretary were also present.The meeting discussed various issues pertaining to development of business of the company and...
Xinhua, DamascusThe Syrian pound, which remained stable for more than four months, has slightly depreciated over this month, prompting the government to take measures to prevent any further decline.The pound has declined from 144 pounds per US dollar to 160 pounds in the black market over the past three days ahead of the Geneva II peace conference on Syrian crisis, which is due to convene on Jan. 22. However, Syrian government’s quick intervention has succeeded in pushing up the price...