Qatar buys fashion house Valentino
LONDON: A Qatari investment group has agreed to buy Italian fashion house Valentino for an undisclosed sum, the London-based private equity form which controls the luxury label said on Thursday.
China's M&A activity dips
SINGAPORE: China's mergers and acquisitions (M&A) activity has slowed down from last year, showing that China is not impregnable to global market conditions.
China criticises EU trade discrimination
BEIJING: China on Thursday criticised Europe's refusal to ease two long-time trade restrictions as "discrimination", following a high-level meeting between the two sides this week.
India's industrial output rises by 2.4% in May
NEW DELHI: India's industrial output growth rebounded by a surprise 2.4 percent in May after shrinking the previous month, data showed Thursday, bringing some cheer after a string of gloomy economic numbers.
Malaysia's IHH raises about US$2b in stock IPO
KUALA LUMPUR: Malaysia's IHH, Asia's biggest hospital operator has raised almost $2.0 billion (6.3 billion ringgit) in the world's third-largest IPO this year, Dow Jones Newswires reported Thursday
China's economy to avoid hard landing: economist
BEIJING: China's economy is in little danger of a hard landing and will likely exceed the official growth forecast for the year, a prominent government adviser said Thursday.
US home foreclosure filings rise
WASHINGTON: US home foreclosure filings rose in the second quarter for the first time in two years, according to a report released Thursday.
Peugeot Citroen slashes 8,000 jobs
PARIS – French auto group PSA Peugeot Citroen said Thursday it would cut 8,000 jobs in its domestic operations as a sharp downturn in the European market led to a loss in the first quarter.
BoJ eyes 2.2% growth, holds off further easing
TOKYO: The Bank of Japan on Thursday said it expected the world's third-largest economy to expand by 2.2 percent in the fiscal year through March 2013 as it held off ushering in fresh stimulus.
Asian shares fall on US Fed split
HONG KONG: Asian markets fell in early trade on Thursday following a decline on Wall Street after news that the Federal Reserve was split on whether to introduce new stimulus measures.
Australian unemployment up to 5.2%
SYDNEY: Australia's unemployment rate rose to 5.2 per cent in June, with the economy shedding 27,000 jobs as global uncertainty and the strong Australian dollar weighed on employers.
S.Korea unexpectedly cuts key interest rate
SEOUL: South Korea's central bank unexpectedly cut its key interest rate Thursday, reducing it by 25 basis points to 3.00 per cent to cushion the impact of the eurozone debt crisis on the export-driven economy.
Australia's Telstra sells N.Zealand arm to Vodafone
WELLINGTON: Australian telecoms giant Telstra announced Thursday it had agreed to sell its New Zealand subsidiary TelstraClear to Vodafone for NZ$840 million (US$667.5 million).