22 May 2017
Updated 21:00
Top EU lawyer

Uber must get licences as ordinary taxi firm

Ride-hailing app Uber may be a pioneer in its field but at heart it is an ordinary taxi company and should be regulated as such, a top EU lawyer said Thursday.

Europe freezes air, rail links with Brussels

Airlines cancelled hundreds of flights and European railways froze links with Brussels Tuesday after a series of bombs blasts killed around 35 people in the city's airport and a metro train, sparking a broad security response.

Cutting jobs and bad debt

UniCredit doubles Q1 profit as overhaul reaps rewards

Italian bank UniCredit said Thursday that its net profit more than doubled in the first quarter as the massive overhaul embarked upon by its new chief executive begins to pay off.

Airplane transport

Emirates airline posts 82.5 pct drop in 2016-17 profit

Emirates airline said Thursday its 2016-17 profit dropped by 82.5 percent to $340 million, citing fierce competition, currency devaluations and US travel restrictions as major challenges.

Foreign trade

Macron victory is «good news» for trade-reliant Asia: IMF

Emmanuel Macron's victory in the French presidential election is «good news» for trade-reliant Asia as it eases fears of rising protectionism in Europe, the International Monetary Fund (IMF) said Tuesday.

Commodities

Trafigura-backed oil firm opens $92 mn Myanmar terminal

An oil company backed by global commodities giant Trafigura has opened a $92 million oil and gas terminal in Myanmar to cash in on growing energy demand from the fast-expanding economy.

Fed hikes on course

Asia markets rise on US jobs data, euro dips after Macron rally

Asian and European markets mostly rose Monday following a Wall Street rally as dealers cheered a strong US jobs report, but the euro failed to hold on to early gains after Emmanuel Macron beat far-right candidate Marine Le Pen in France's presidential election.

Exports rose 8.0 percent year-on-year

China's April exports rise but slow from March

Chinese exports rose for the second consecutive month in April, official data showed on Monday, boosted by improving global demand but the increase was slower than the previous month.

Foreign investment

Egypt parliament passes investment law

Egypt's parliament on Sunday adopted a law whose aim is to attract foreign investors to the country as authorities seek to redress its struggling economy.

Energy

Gazprom starts construction of gas pipeline to Turkey

Russian gas firm Gazprom said Sunday construction had begun of a gas pipeline under the Black Sea to Turkey meant to eventually also serve the European Union.

Energy

Iceland drills 4.7 km down into volcano to tap clean energy

It's named after a Nordic god and drills deep into the heart of a volcano: «Thor» is a rig that symbolises Iceland's leading-edge efforts to produce powerful clean energy.

Market

IBM tumbles as Buffett discloses he is trimming stake

IBM shares tumbled Friday after billionaire investor Warren Buffett revealed he has sold about a third of his stake and «revalued» downward the computing giant.

Korean crisis

China, Japan, South Korea to jointly combat financial instability

East Asia's three biggest economies vowed Friday to work together to help prevent market instability as tensions run high over Pyongyang's weapons programmes.

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Hamilton wins thrilling Spanish Grand Prix

Lewis Hamilton roared back into serious contention for a fourth drivers' world title on Sunday when he drove to a well-judged victory for Mercedes in a dramatic Spanish Grand Prix.

Turkey-US: strained relations

From the 2003 US invasion of Iraq to Washington's latest decision to arm Kurdish groups in Syria, relations between Turkey and the US have been tested repeatedly.

Nadal edges out Thiem for fifth Madrid Masters

Rafael Nadal's flawless record on clay this season continued as he outgunned the impressive Dominic Thiem to win the Madrid Masters for a fifth time 7-6 (10/8), 6-4 on Sunday.

«Guardians» dominates again, leaving 2 new films in its wake

Disney's space romp «Guardians of the Galaxy Vol. 2» continued its hyperspeed performance over the weekend in North America while approaching a quarter-billion dollars in ticket sales for its first two weeks, according to industry estimates.