Thursday 17 April 2014

Iran rejects ban on pick for UN envoy, vows legal action

Iran on Saturday rejected a US decision to deny a visa for its newly appointed ambassador to the United Nations, pledging to take up the case directly with the world body in a dispute that has reopened old wounds dating to the 1979 Islamic Revolution. The United States, which hos


Iran's oil exports surge above West's sanctions cap

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's (IEA) monthly report revised February's


Malaysia probes confused initial response to missing jet

Malaysia's government has begun investigating civil aviation and military authorities to determine why opportunities to identify and track Malaysia Airlines Flight MH370 were missed in the chaotic hours after it vanished, two officials said. The preliminary internal enquiries


G20 eyeing fallout from Ukraine; pushes US on IMF reforms

The world's top economies are monitoring the economic situation in Ukraine for any fallout that may pose risks to economic and financial stability, the Group of 20 finance ministers and central bankers said on Friday in a final communique. G20 officials also kept up the press


Missing jet co-pilot 'tried to make call'

The co-pilot of missing Malaysian airliner flight MH370 attempted to make a mid-flight call from his mobile phone just before the plane vanished from radar screens, a report said citing unnamed investigators. The call ended abruptly possibly "because the aircraft was fast mo


China inflation up over higher food prices

China's consumer inflation rate increased in March as fresh food prices jumped, but persistent deflation in the industrial sector was another signal of weak demand and slowing growth in the world's second-largest economy. The consumer price index (CPI) rose 2.4 per cent i


Loss-hit UK bank confident of raising funds

Britain's loss-making Co-operative Bank said it was confident of raising the extra funds it needs to secure its future, even without the backing of troubled parent the Co-operative Group. The country's eighth-biggest lender yesterday confirmed it lost £1.3 billion (


JPMorgan profit down as trading revenue falls

JPMorgan Chase & Company posted far weaker-than-expected quarterly profit as uncertainty about the US economy weighed on investor trading volumes and consumer borrowing. Results from the first of the major Wall Street banks to post earnings underscore how difficult the first


Factory output data deepens India gloom

India's economic gloom deepened yesterday with a surprise contraction in industrial output, a fall in exports and a jump in the trade deficit, underscoring the enormity of challenges awaiting a new government that takes over in May. Economic growth in Asia's third largest

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