Business - NsNewsWire

U.S. economy grows at modest pace in April, Fed survey shows

WASHINGTON, June 1 (NsNewsWire) — U.S. economy expanded at a modest pace in April and May with still tight labor market and muted price increase pressures, the latest survey result released by the Federal Reserve showed on Wednesday. “Most of the 12 Federal Reserve Districts reported that their economies continued to expand at a modest […]

Milan investors bullish on banks after Italy-EU deal on MPS

ROME, June 1 (Xinhua) — Investors were bullish on banks Thursday after Italy and the European Union (EU) reached an initial agreement on the precautionary recapitalization of the troubled Monte dei Paschi di Siena (MPS) bank. This means the Italian Treasury can step in to rescue MPS after its shareholders and junior bondholders take losses, […]

Malaysia’s FGV returns to profit in Q1 on better palm oil prices

KUALA LUMPUR, May 31 (Xinhua) — Malaysia’s Felda Global Ventures (FGV), the world’s largest crude palm oil producer, announced Wednesday it had returned to profit by posting a net earnings of 2.47 million ringgit (577,350 U.S. dollar) in the first quarter of this year. The improvement was a result of higher average crude palm oil […]

Small, medium-sized cities to drive China’s consumption growth: economist

BEIJING, May 31 (Xinhua) — Small and medium-sized cities will play a major role in driving China’s consumption growth in the coming decade, according to a Morgan Stanley economist. Robin Xing, the investment bank’s chief China economist, predicted on Wednesday that national annual consumption will rise to 9.7 trillion U.S. dollars in 2030 from last […]

Dubai transport authority promises safe Expo 2020

DUBAI, May 30 (Xinhua) — Senior officials from the Dubai Roads and Transport Authority, RTA, and Dubai Police have met here on Tuesday to discuss road safety strategies in preparation for the Gulf Arab sheikhdom hosting Expo 2020. Mattar Al-Tayer, RTA Director-General and Chairman of the Board of Executive Directors, and Maj. Gen. Abdullah Khalifa […]

Iran keen to expand Russia market for unique handwoven carpet

TEHRAN, May 29 (Xinhua) — Iran and Russia are holding talks to remove obstacles for the exports of Iran’s handwoven carpets to Russia, semi-official Fars news agency reported on Monday. Head of Iran’s National Carpet Center Hamid Kargar and Head of Russia-Iran Joint Chamber of Commerce Vladimir Obidnov held a meeting here to discuss the […]

China to expand imports from US: MOC

BEIJING, May 25 (Xinhua) — China will increase imports from the United States in wide-ranging areas including agricultural products, energy and high-tech equipment, the Ministry of Commerce (MOC) said Thursday. In a research report on China-US Economic and Trade Relations, the MOC noted the growth potential in U.S. exports as China’s total imports are expected […]

Athens expects deal at June 15 Euro Group, dismisses crisis scenario

ATHENS, May 25 (Xinhua) — Athens expects a deal on the conclusion of the second review of the third bailout and the next steps that will satisfy both Greece and its international lenders at the next June 15 Euro Group meeting, Greek government spokesman Dimitris Tzanakopoulos said on Thursday. The Greek official dismissed scenarios of […]

Nepal awards contract of developing hydropower project to Chinese company

KATHMANDU, May 24 (Xinhua) — The Nepali government has decided to award the contract of developing Budhigandaki Hydroelectric Project to China Gezhouba Group Corporation (CGGC), a cabinet minister has said. A cabinet meeting of Nepal Tuesday approved the Energy Ministry’s proposal to let the Chinese developer build the storage type project located at the country’s […]