Gold steady after drop on Fed, eyes on ECB SINGAPORE - Gold found support at $1,600 an ounce on Thursday, although it was capped by uncertainty over whether the European Central Bank will take bold action to tackle the region’s debt crisis after the U.S. central bank dashed hopes of any imminent stimulus.
Lufthansa Q2 profit falls on fuel costs, taxes BERLIN — German airline Lufthansa blamed high fuel costs and new taxes on air travel in its home and Austrian markets for a 24 percent decline in second-quarter earnings.
ECB’s Draghi faces leadership test over euro pledge FRANKFURT - European Central Bank President Mario Draghi was under intense pressure from investors, European leaders and even the United States to deliver on Thursday on his pledge to do whatever it takes to save the euro.
Sharp to cut 5,000 jobs, first since 1950 TOKYO — Japan’s Sharp will slash 5,000 jobs by March, reports said on Thursday, its first cuts since 1950 as it is hit by a prolonged slump in its key television and liquid crystal display sectors.
Asian stocks waver ahead of ECB meeting BANGKOK — Asian stock markets were muted Thursday after the U.S. Federal Reserve took no new action to boost the U.S. economy and investors awaited announcements from the European Central Bank after its president vowed to keep the euro currency union intact.
Gold steady after drop on Fed inaction, eyes on ECB SINGAPORE - Gold found support at $1,600 an ounce on Thursday, although was capped by uncertainty on whether the European Central Bank will take bold action to tackle the region’s debt crisis after the U.S. central bank dashed hopes of any imminent stimulus.
Euro solution to take time The International Monetary Fund, or IMF, said on Tuesday that the euro-area debt crisis has exacerbated global financial instability and an orderly adjustment process is likely to be prolonged and costly.
Cash injection helping Mena ward off recession: Al Masah The Middle East and North Africa region, or Mena, has emerged as a viable and safe investment destination and things are looking decidedly brighter as the region targets to record a real gross domestic growth of 4.2 per cent, a report by Al Masah Capital said.
Invest AD launches funds for Africa, GCC Abu Dhabi-based asset manager Invest AD has launched two UCITS-compliant funds, which invest in Africa and the Arabian Gulf, to meet growing global demand for high-quality investment products to tap frontier market growth.
Sorouh’s Q2 profits soar 33% Sorouh Real Estate on Tuesday said its consolidated net profit surged 33 per cent in the second quarter to Dh166.6 million on sustainable incomes.
