Business

Euro sinks to fresh nine-year low

Euro

BBC News : The euro has hit a fresh nine-year low against the dollar, in part after a surprise decrease in German manufacturing. German factory orders fell by 2.4% in November compared with the previous month, worse than expected. The euro dropped below $1.176, before recovering slightly. Analysts said increased speculation about extra stimulus measures to combat eurozone deflation also ...

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Brent crude oil price dips below $50 a barrel

oil

BBC News : The price of Brent crude oil has fallen below $50 a barrel for the first time since May 2009. It fell more than a dollar to $49.92 a barrel in early trading on Wednesday before edging back above the $50 mark. Slowing global growth and increased supply of oil and gas have pushed prices sharply lower in ...

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US stocks fall as euro hits nine-year low

The euro currency. AFP/File

NEW YORK (AFP): US stocks Monday opened sharply lower as renewed concerns about the eurozone sent the euro to a nine-year low. Five minutes into trade, the Dow Jones Industrial Average stood at 17,744.43, down 88.56 points (0.50 per cent). The broad-based S&P 500 fell 11.54 (0.56 per cent) to 2,046.66, while the tech-rich Nasdaq Composite Index dropped 25.03 (0.53 ...

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Chinese tech firm Xiaomi’s revenue doubles in 2014

Xiaomi says its revenue jumped 135% last year

BBC News : Chinese handset maker Xiaomi said it more than doubled its revenue in 2014, just a week after it was named the world’s mostvaluable tech start-up. The firm said it made 74.3bn yuan (£7.8bn; $11.97bn) in pre-tax sales last year, up 135% from 2013. Now the world’s third largest smartphone maker behind Samsung and Apple, it sold over ...

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Saudi Arabia should move to check oil price fall: Iran

An oil production facility. — AFP/File
An oil production facility. — AFP/File

DUBAI: Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world’s biggest crude exporter, takes action to reverse the slump, Iran’s deputy foreign minister told Reuters. Hossein Amir Abdollahian described Saudi Arabia’s inaction in the face of a six-month slide in oil prices as a strategic mistake and said he still hoped the kingdom ...

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