Italy sees record high jobless rate

The jobless rate in Italy has pushed to its highest level since 2001, according to statistics released Monday, showing that while recent austerity measures have helped tame investor fears, they are not yet having their intended impact on Italian workers.The [...]

Ecb refrains from buying bonds for three weeks

The European Central Bank (ECB) has not bought government bonds for three straight weeks, data showed on Monday.The ECB said in a statement that it did not settle any government bonds last week, putting the Securities Market Program (SMP) on [...]

China’s gdp likely to have slowed in q1

China's GDP growth may have slowed to about 8.4 percent year-on-year in the first quarter, still boding well for the economy in 2012, said Zhang Xiaoqiang, deputy director of the National Development and Reform Commission, on Tuesday.Citing preliminary data from [...]

Malawi woos chinese investment in cotton industry

Malawi on Tuesday expressed its willingness to attract more Chinese investment in its cotton industry, stressing that more value addition is needed.The Malawian Minister of Industry and Trade John Bande told Xinhua in an exclusive interview that the southern African [...]

Facebook countersues yahoo for patent infringement

Facebook on Tuesday filed a counter-suit against Yahoo over patent infringement, a latest move in the escalating patent war between the two tech giants."For the outset, we said we would defend ourselves vigorously against Yahoo's lawsuit, and today we filed [...]

Eu wants stronger economic ties with asean

An economically struggling European Union (EU) wants closer economic ties with the Association of Southeast Asian Nations (ASEAN) to overcome economic downturn, ASEAN Secretary-General Surin Pitsuwan said here on Monday.Pitsuwan told media that ASEAN countries should open up to foreign [...]

Imf approves 426.8-mil-usd loan for sri lanka

The International Monetary Fund (IMF) on Monday approved a 426.8-million-U.S. dollar loan to Sri Lanka, in an effort to help the country build buffer against swelling trade deficit.The Washington-based global institution said in a statement that it has completed the [...]

Hsbc singapore cuts over 100 jobs

Banking giant HSBC cut over 100 jobs in Singapore in one of the largest restructuring exercises by the bank here, local daily Straits Times reported on Tuesday.This represents just over 3 percent of HSBC's 3,000-strong workforce in Singapore.The job cuts [...]

Kenya airways plans more china destinations

Kenya Airways said on Monday that it would increase its flight destinations in China from the current two to six as it seeks to tap into the growing passenger and cargo market between China and Africa."Our plan is to increase [...]

Gold goes up on dollar weakness

Gold futures prices on the COMEX division of the New York Mercantile Exchange continued to rise Monday, buoyed up by the weakened dollar after a positive read on U.S. manufacturing data.The most active gold contract for June delivery climbed 7.8 [...]