02092016Tue
Last update: Tue, 09 Feb 2016 08am

World - Global Business & Economy

Cheap oil cuts 2015 French trade deficit to lowest since 2009 PARIS: France's trade deficit fell last year to the lowest since 2009 mainly because of cheaper oil imports, data from the customs office showed on Friday. With oil and other natural resource imports making up about 75 percent of France's deficit, the shortfall fell to 45.67 billion euros ($51.13 billion), down from 58.3 billion in 2014. Boosted by a weaker euro, exports grew by 4.3 percent with aircraft and car sales particularly strong, while imports grew only 1.2 percent amid low energy prices.The customs office said France saw its energy import bill cut 14.6 billion euros while its deficit for manufactured goods widened 2.6 billion euros on higher imports of computers, electronics and optical equipment. In December, the monthly trade deficit was trimmed back to 3.9 billion euros on lower imports of aeronautics equipment and chemicals, while aircraft exports held up. The Socialist government has pinned its hopes of restoring ...


World - South East Asia

China's cabinet issues document on tackling overcapacity in coal sector BEIJING: China will not approve any new coal production capacity over the next three years, said China's cabinet on Friday, as part of a plan to tackle severe overcapacity in the sector. It will also remove around 500 million tonnes of production capacity within the next three to five years, it said, and speed up the process of squeezing "zombie" coal firms from the market. Copyright Reuters, 2016

World - Europe

Cameron fights for his place in history with EU vote LONDON: Prime Minister David Cameron is playing a high-stakes game which will decide his place in political history with negotiations aimed at preventing Britain from leaving the EU in a looming referendum, experts say.Cameron landed himself in his current position by promising in 2013 to hold a referendum on Europe if he won the 2015 election. That was a bid to unite his party, long divided on the issue.Paradoxically for a leader who is arguing ...

World - Global Business & Economy

Indonesian economy grows at slowest rate in six years JAKARTA: Indonesia's economy grew at its slowest pace for six years in 2015, data showed Friday, as it was hit by plunging commodity prices and falling exports to key markets including China.Southeast Asia's largest economy grew 4.79 percent last year, the first time it has fallen below five percent since 2009 at the height of the global financial crisis, and well short of the government's seven percent target. It grew 5.02 percent in 2014.However, a ...

World - North America

Clinton goes on the attack against surging Sanders DURHAM: Hillary Clinton mounted a sharp attack on White House rival Bernie Sanders Thursday, accusing her Democratic challenger of waging a smear campaign and warning his promises of revolution "don't add up."The nearly two-hour debate at the University of New Hampshire in Durham comes five days before the state votes in the first primary of the 2016 election race, after Clinton clinched the narrowest victory in Iowa caucus history against Sanders this week.While most expect ...

World - Europe

No 'draconian measures' for Greece: IMF's Lagarde WASHINGTON: The International Monetary Fund does not wish to slap "draconian measures" on hard-up Greece but wants more government progress on pension reform, IMF chief Christine Lagarde said Thursday.Lagarde spoke as Greece was hit by a general strike that brought tens of thousands of people into the streets in protest over pension reforms, a key part of Greece's latest economic bailout by the European Union."I really don't like it when we're portrayed as this draconian, ...

World - North America

Obama presents $450mn plan to fund Colombia peace WASHINGTON: US President Barack Obama on Thursday announced a $450 million plan to fund Colombia's peace process, shaking up more than a decade of military-focused aid."Just as the United States has been Colombia's partner in a time of war," Obama told Colombian President Juan Manuel Santos at the White House, "we will be your partner in waging peace."Copyright AFP (Agence France-Presse), 2016