EU gives green light to Hungary aid talks

  • BRUSSELS/BUDAPEST: The EU opened the way to talks with Hungary on financial aid on Wednesday, ending a five-month dispute over the independence of its central bank, but it kept pressure on Prime Minister Viktor Orban by sending a row over the judiciary to Europe’s top court....
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Apple crushes Street targets, dispels iPhone fears

  • SAN FRANCISCO: Apple Inc’s quarterly profit almost doubled, blowing past Wall Street estimates after a jump in iPhone sales, particularly in the greater China region, and soothing fears that the iPhone was past its best days for sharp growth....
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Hong Kong probes $2.5 mln payment in Kwok case- source

  • HONG KONG: Hong Kong’s anti-graft agency is looking into payments totalling more than $2.5 million to a former top public servant as part of the city’s corruption investigation involving two billionaire brothers who run Asia’s largest property developer. According to a source...
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Europe shares climb fifth day in a row

  • PARIS: European stocks rose early on Monday, climbing for a fifth straight session and tracking gains on Wall Street following upbeat earnings, while a milder-than-expected fall in Spain’s GDP eased worries over the country’s finances. At 0709 GMT, the FTSEurofirst 300 index of top...
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Man Group CEO hits back at critics

  • LONDON: The chief executive of beleaguered hedge fund manager Man Group sought to defend his position, saying shareholders supported him despite further withdrawals of clients’ money and poor returns from its flagship fund....
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BSkyB declares itself ‘fit and proper’

  • LONDON: British Sky Broadcasting has declared that it is a “fit and proper” company as it reported a 19 percent gain in net profit for the first nine months of its financial year....
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Protectionism may harm local industries

  • PUERTO VALLARTA, Mexico: Import restrictions imposed by Argentina and Brazil may end up harming the very domestic industries they are trying to protect and also could affect other economies in Latin America....
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Brinkmanship policy?

  • Is it possible to build a country on nationalist sentiments alone, or a mix of political, economic and social policies need to be carved out as well as the institutions that carry out those policies, supervise implementation and ensure that they are on the track for the principal objective of...
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Nonoil sector posts solid growth

  • Growth in business activity in Saudi Arabia’s nonoil private sector rose to a nine-month high in April, boosted by strong output and new orders, a survey showed.April Purchasing Managers’ Index (PMI) data was reflective of strong demand conditions in the Saudi Arabian nonoil private sector...
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Saudi equity market cap falls to SR 1.48 trillion in April

  • JEDDAH: After a stellar performance in the first quarter of this year, the Saudi stock market failed to maintain the positive momentum in April.At the end of April the Tadawul All-Share Index (TASI) closed at 7,558.47 points, down 276.68 points or 3.53 percent over the close of the previous month...
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