BRUSSELS: Inflation across the 16-nation eurozone retreated to 1.6 percent in August, having hit a near two-year high in the summer, new European Union data confirmed on Wednesday. The 12-month rate slipped... (more...)

ISLAMABAD: The International Monetary Fund (IMF) has said that  the floods will cause “major harm to the economy”  of Pakistan as donors’ and investors’ concerns are growing over... (more...)

TEHRAN: Iran’s main economic partner China has invested around 40 billion dollars in the Islamic republic’s oil and gas sector, a senior Iranian official said on Saturday. Deputy Oil Minister... (more...)

DETROIT, Michigan: President Barack Obama said Friday that four consecutive quarters of US economic growth is a “welcome sign” of recovery but more was needed to put unemployed Americans back... (more...)

NEW DELHI: A radar malfunction at New Delhi airport on Wednesday caused major delays on the first day that international flights began arriving at a new showcase multi-billion-dollar terminal, reports... (more...)

HONG KONG: A rare residential site on Hong Kong’s prestigious Victoria Peak fetched 1.33 billion US dollars at auction Wednesday, boosting one of the world’s most dizzying luxury property markets. ... (more...)

DHAKA: Energy-hungry Bangladesh will begin importing power from India by late 2012 after the two countries signed a landmark electricity transmission deal, an energy official said Tuesday. India will export... (more...)

WASHINGTON: US President Barack Obama on Monday slammed Republicans for blocking an extension of unemployment benefits, charging that the minority party was failing desperately needy Americans. “It... (more...)

BUDAPEST: Hungary’s government said Sunday it would plough on with deficit-slashing reforms demanded by the IMF and EU, and aimed to become Central Europe’s most stable country “as quickly... (more...)

SINGAPORE: Oil traded near 76 dollars in Asia on Friday, lifted by buoyant sentiment after the International Monetary Fund bumped up its projections for global growth.Stronger demand in the United States,... (more...)