London (AFP) - European stock markets closed lower Wednesday, mirroring losses across Asia after China further devalued its currency and reported more poor economic data.Shares in mining companies, carmakers and luxury goods groups, which rely heavily on Chinese demand, fell sharply for a second day.
The road, as they say, was paved with good intentions: In an effort to improve the country’s woeful infrastructure, long seen as a drag on Asia’s third-largest economy, India Inc. has pumped billions of dollars into new power plants, roads, rail lines and airports over the past decade. The investment was largely financed with foreign-denominated debt, a choice that seemed reasonable enough as recently as 2010, when the Indian economy expanded by 9.3 percent in real terms and the rupee remained relatively strong.
TOKYO: Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. Taking a lead from Wall Street's slide, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent with Australian and South Korean shares suffering losses. Tokyo's Nikkei shed 0.3 per cent.
Yesterday we covered the supply side of the gold market from the perspective of global mints, which were kind enough to advise that they "can’t meet the demand, even if we work overtime." Today, courtesy of Bloomberg, we take a closer look at the demand aspect of the physical gold market, which as most know by now can be descri
Singapore in particular has leapt up the Global Startup Ecosystem Ranking, moving up seven places to enter the Top 10 this year (Startup compass.co). For start-ups looking to scale globally, Singapore is definitely one to take note of when it comes to the level of funding, tech talent and skills available, as well as organic support from seasoned mentors and business leaders.
Singapore (AFP) - Singapore has launched legal action that could lead to massive fines against Indonesian companies blamed for farm and plantation fires spewing unhealthy levels of air pollution over the city-state.
As the European sovereign debt crisis enters its fourth year, there are growing concerns that Spain, the fourth-largest economy in the euro area, could collapse under the weight of its debt and trigger a break-up of the euro zone.