US STOCKS-Futures up on Fed's dovish rate-hike outlook
* Futures up: Dow 69 pts, S&P 6.25 pts, Nasdaq 17.25 pts By Yashaswini Swamynathan March 16 (Reuters) – U.S. stock index futures rose onThursday after the Federal Reserve raised interest rates for thefirst time this year, but indicated it was in no hurry toincrease the pace of tightening. * Drawing on continued strength in […]
Chinese premier warns US against ‘trade war’
Author: AFP, APThu, 2017-03-16ID: 1489597119353498100BEIJING: Chinese Premier Li Keqiang on Wednesday warned the US against starting a trade war, while expressing optimism that the world’s two largest economies could keep relations steady despite Trump-era frictions. “We do not want to see any trade war breaking out between the two countries. That would not make our trade fairer,” […]
Cathay Pacific posts 1st annual loss since 2008
Author: The Associated PressThu, 2017-03-16ID: 1489597119423498400HONG KONG: Cathay Pacific Airways has posted its first annual loss in almost a decade, blaming it on tough competition from rival airlines, slowing Chinese economic growth and a stronger currency.The airline said Wednesday that it lost HK$575 million ($74 million) in 2016 compared with a HK$6 billion profit the year before.The […]
Toshiba nosedives on fears about future
Author: AFPThu, 2017-03-16ID: 1489597119333497800TOKYO: Toshiba shares plunged Wednesday as fears grow about the future of one of Japan’s best-known firms, hit by massive losses and accounting fraud allegations at its US nuclear unit.The Tokyo-listed stock dropped as much as 13.62 percent to 186.5 yen ($1.63) at one point, with concerns that the embattled company’s shares could be […]
Japanese workers get meager pay hikes in 2017
Author: ReutersThu, 2017-03-16ID: 1489597119283497500TOKYO: Most major Japanese companies offered the lowest hike in base pay in four years on Wednesday, a setback for Prime Minister Shinzo Abe’s campaign dubbed “Abenomics” to spur the long-sluggish economy. Toyota Motor Corp.’s base pay hike, traditionally a benchmark other companies use to gauge their increases, came to 1,300 yen, or about […]
Saudi banks more profitable than most GCC peers: Report
Author: Arab NewsThu, 2017-03-16ID: 1489595308953170500 JEDDAH: Moody’s Investors Service has revised its outlook for the Saudi banking system to stable from negative. Saudi banks are more profitable than most of their Gulf Cooperation Council (GCC) peers, with an average ratio of net income-to-tangible assets of 1.9 percent as of 2016, on a par with Qatari banks, said […]
British unemployment hits 41-year low
Author: AFPThu, 2017-03-16ID: 1489595308883169900LONDON: Britain’s unemployment rate has struck the lowest level for more than 41 years, official data showed on Wednesday as the country prepares to trigger its exit from the EU.However, a drop in the jobless rate comes alongside news of slowing wages growth.Unemployment for the quarter ending Jan. 31 fell to 4.7 percent from […]
Impact of OPEC oil cuts will take time to be felt: IEA
Author: AFPThu, 2017-03-16ID: 1489595308863169600PARIS: The Organization of the Petroleum Exporting Countries (OPEC) is complying with a landmark deal to reduce a worldwide glut in oil, but it will take some time yet before the oil market feels the full impact of the reduction in output and prices stabilize, the International Energy Agency (IEA) said on Wednesday.“The implementation […]
Lagarde warns G-20 to avoid ‘self-inflicted’ wounds
Author: AFPThu, 2017-03-16ID: 1489595308903170200WASHINGTON: Christine Lagarde, managing director of the International Monetary Fund (IMF), on Tuesday warned the world’s largest economies to avoid damaging the incipient global recovery with policies that would derail trade and immigration.In a message to the Group of 20 (G-20) finance ministers ahead of their meeting this week, Lagarde said the world economy […]
Tourists head back to Europe
Author: ReutersThu, 2017-03-16ID: 1489594971753112100LONDON: Tourists are heading back to Europe, and the recovery is showing up in everything from rising hotel bookings to tax-free shopping and air traffic, leading to a brighter earnings outlook for travel and leisure companies.A rebound in emerging markets is bringing visitors from countries like China, Brazil and Russia to continental Europe, while […]
