Pound drops in value as May signals 'hard Brexit'

​London, Oct 3 (IANS) The pound sterling was the worst performer among major currencies on Monday, after British Prime Minister Theresa May said Britain would kick off the process of separating from the European Union (EU) by the end of March 2017. ...

Devaluation of Japanese financial assets deepens after Brexit

​Tokyo, Sep 26 (IANS) Financial assets held by Japanese have lost value between March and June due to the effects of Brexit on the markets, marking two consecutive quarters of decline, according to data released by the Bank of Japan (BOJ) on Monday. ...

Yuan's inclusion in SDR basket marks important milestone: IMF

​Washington, Sep 22 (IANS) The inclusion of the Chinese yuan in the Special Drawing Right (SDR) basket by the International Monetary Fund (IMF) is an important milestone for the international monetary system, said a senior IMF official. ...

World Banks loans Egypt $1 bn as economic relief

Cairo, Sep 9 (IANS) The World Bank on Friday transferred $1 billion to Egypt to boost the Arab country's economic reform programme, a media report said. "This is the first batch of a $3 billion deal allocated for funding a government economic developmental plan," Egyptian Minister of International Cooperation Sahar Nassr was ...

Japan bank blames Brexit as it unleashes more monetary stimulus

​Tokyo, July 29 (IANS) The Bank of Japan on Friday announced a modest expansion of its monetary easing programme, blaming Britain's decision to leave the European Union as the biggest uncertainty facing world markets. ...

Smartphone sales boost Huawei's profits up to 40 per cent

​Beijing, July 26 (IANS) Riding on smartphone sales like its flagship H1 device, Chinese smartphone maker Huawei has posted a 40 per cent half-yearly profit. "We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations," ...

Twitter shares tumble after poor revenue growth, weak outlook

New York, July 27 (IANS) Although it added three million users -- one million more that what analysts had expected -- the not-so-promising second quarter earnings results led to the shares of micro-blogging website Twitter tumbling on Tuesday which wiped out nearly 10 per cent from its share price in after-market trading. ...

Chinese city launches maritime ecological protection fund

​Beijing, July 25 (IANS) The Chinese city of Sansha has decided to allocate five million yuan (about $748,000) annually for maritime environmental conservation for the next three years. ...

'African countries should direct economic growth to new sectors'

​Nairobi, July 23 (IANS) African countries affected by the massive drop in the global prices of oil should direct trade policies to new sectors, a UN official said. Mukhisa Kituyi, Secretary-General of the UN Conference on Trade and Development (UNCTAD), made the appeal at the close of a major ministerial conference in Nairobi on ...

British economy falls post-Brexit

​London, July 22 (IANS) British economy has fallen to a seven-year low amid the ongoing financial consequences of the country's decision to leave the EU, according to a study published on Friday. ...

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