Europe races to secure Greek debt relief
BRUSSELS : Europe raced Tuesday to finalise a deal that would cut Greece's massive debt after EU leaders set a weekend deadline for a last-chance bailout to save the country from financial collapse.
Qantas says cashed-up despite Moody's downgrade
SYDNEY: Australian carrier Qantas on Tuesday said it remains in a strong funding position with a cash balance of more than A$3.0 billion (US$3.2 billion) after it was downgraded by Moody's Investors Service.
Italy unemployment hits 8.9%
MILAN – Italy's unemployment rate rose to 8.9 percent in December, its highest level since the official Istat agency began releasing monthly data in January 2004, figures published on Tuesday showed.
N.Korea restricts Chinese currency in markets: reports
SEOUL: North Korea has banned the use of China's yuan and other foreign currency in its markets, saying this was part of the last instructions of late leader Kim Jong-Il, according to a Seoul-based aid group.
China car maker SAIC says 2011 profit surged
SHANGHAI: China's SAIC Motor, the largest domestic auto maker, said on Tuesday that unaudited net profit rose more than 40 percent last year, despite an overall slowdown in the world's biggest car market.
Asian markets end mostly higher, traders remain cautious
HONG KONG : Asian markets mostly rose Tuesday after European leaders agreed on a treaty aimed at ending huge deficits, but traders remained cautious as Greece continued talks to slash its debt mountain.
China has room for stimulus: IMF
WASHINGTON: China could easily boost domestic consumption to stimulate its economy if its slowdown is too sharp, the International Monetary Fund said Monday.
British business hits back at 'vilification' of RBS chief
LONDON: British politicians are damaging the reputation of the City of London financial district by vilifying RBS chief Stephen Hester, the president of the Confederation of British Industry said Tuesday.
Two top Chinese banks to open branches in Taiwan
TAIPEI: Taiwan has allowed two major state-controlled Chinese banks to set up branches on the island, the first mainland lenders to do so, officials said Tuesday.
IMF urges Japan to triple consumption tax
WASHINGTON: The International Monetary Fund said Monday that Japan ought to triple its consumption tax to help bring down some of its huge debt.
Oil higher in Asia on positive Japanese data
SINGAPORE: Oil prices rose in Asia Tuesday as traders reacted to better-than-expected economic data from Japan, analysts said.
IMF sees low impact on Asian finance from EU crisis
WASHINGTON: The eurozone financial crisis has had only a limited impact on Asia, and in fact has created opportunities for Asian banks, according to a top IMF official.
S. Korea industrial output growth slows in December
SEOUL: South Korea's industrial output grew at a much slower rate in December on an annualised basis amid global economic uncertainty, official figures showed Tuesday.
Japan output down in 2011, up in December
TOKYO: Japan's annual industrial output fell 3.5 percent in 2011 overall but rose by more than expected in December, a mixed bag of official data from the world's third-biggest economy showed Tuesday.