Spanish jobless rate soars to 17-year high
MADRID: Spain announced on Friday that its jobless rate shot to a 17-year record high of 22.85 percent at the end of 2011, the highest in the industrialised world, as unemployment punched above five million.
EU and US economic leaders spar at Davos
DAVOS, Switzerland: Key policy-makers from Europe and the United States thrashed out ideas for pulling the eurozone out of its debt crisis at the Davos forum on Friday, days ahead of a key European summit.
Japan's Honda production down 20% in 2011
TOKYO: Japan's Honda Motor, the country's third-biggest carmaker, suffered a 20 percent plunge in its global production last year, it said Friday.
Asian markets mixed amid hopes of Greek deal
HONG KONG: Asian markets were mixed Friday as tentative hopes that Greece will be able to agree a deal with creditors on writing down some of its debt were capped by underwhelming US economic figures.
Greece resumes talks on debt writedown
ATHENS: Greece will continue talks Friday with private banks and insurers on hammering out a deal for a major debt writedown to escape a looming default, as "progress" was reported amid mounting pressure.
Oil prices higher in Asian trade
SINGAPORE: Oil rose in Asian trade Friday on expectations the US economy saw robust growth in the final quarter of 2011, analysts said, while tensions between the West and Iran also supported prices.
EU, US economic policy chiefs thrash out crisis at Davos
DAVOS: The key economic policymakers of Europe and the United States will thrash out the prospects of turning round the financial crisis at Davos on Friday ahead of a key European summit.
Creditors should waive part of Greek debt: Juncker
VIENNA: Greece's creditor countries should "waive a portion of the Greek debt", Jean-Claude Juncker, head of the Eurogroup of eurozone finance ministers, said Friday.
BP must pay part of rig owner's eventual Gulf costs
CHICAGO: British oil giant BP must cover some of the eventual claims against rig owner Transocean arising from the Gulf of Mexico oil spill, a US judge has ruled, with any bill set to run into billions of dollars.
Samsung Elec posts record operating profit in Q4
SEOUL: Samsung Electronics Friday posted a record operating profit of 5.3 trillion won ($4.72 billion) in the fourth quarter and a net profit of four trillion, thanks largely to booming smartphone sales.
Japan consumer prices down 0.1% in December
TOKYO: Japan's core consumer prices edged down 0.1 percent in December from a year earlier in line with market expectations, government data showed on Friday.
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