ECONOMY & MARKETS

Coke, GE Step In As Ex-Pariah Myanmar Opens To Foreign Investment

Myanmar
After breaking from decades of military rule, Myanmar's parliament ratified legislation promoting foreign investment on Friday, opening the southeast Asian country to investment from companies like MasterCard Inc. (NYSE: MA), the Coca-Cola Company (NYSE:KO) and General Electric Co. (NYSE: GE).
More news
Rajoy

Draghi's ECB Announcement - Spain A Stealth Loser, Italy A Silent Winner

While pundits and analysts dissected a myriad angles regarding the ECB's proposal, one lesser-considered issue has been how, following the announcement of the plan Thursday, it increasingly seemed Spain was being given the short end of the stick, while Italy was being favored, by the announcement.
Bulls, Bears, and the Ballot Box

Do Democratic Presidents Historically Pull Nation Out Of Fiscal Rut?

The 2012 campaign has focused on a myriad of social and ideological issues, with some smatterings of tax policy and truckloads of mudslinging. A new book argues voters should look past the obfuscation and consider what is best for their wallet. Its authors claim history has proven one thing: when it comes to economic success, the left has had the upper hand.
IBTimes Logo

Asian Shares Rise After ECB Move, Awaiting US Payroll Data

Asian shares rose and the euro steadied Friday after the European Central Bank outlined its bond-buying scheme to help calm the euro zone's debt crisis, while firm U.S. data fed speculation of a strong jobs report later in the day.
Miners at Rustenberg platinum mine

South African Labor Unrest Threatens Platinum And Gold Production

In the wake of a strike that left 34 platinum miners dead after clashes with police, South African unions continued to refuse to work, disrupting production of the metal in the country that accounts for 75 percent of global exports and spilling over to impact gold miners.
Pieces of gold

Gold Tops $1,700 on Draghi Comments, Holds Despite Good Jobs Data

Gold futures blew past the $1700-per-ounce mark early Thursday morning ahead of a widely-anticipated appearance by European Central Bank president Mario Draghi where the central bank head was expected to announce further monetary accommodation in the eurozone.
Mario Draghi

Draghi: ECB Agrees Unlimited New Bond Program - OMT

European Central Bank President Mario Draghi said Thursday the “euro is irreversible” and announced a new bond-buying plan “Outright Monetary Transactions,” or OMTs, aimed at lowering the struggling euro zone countries’ borrowing costs which would serve as a “fully effective backstop.”
Traders work on the floor of the New York Stock Exchange

ECB Stimulus Hopes Lift US Stock Futures

The U.S. stock index futures point to a higher open Thursday as investor sentiment was underpinned by the expectation that the European Central Bank would announce stimulus measures to ease the euro zone debt burden.
Traders work at their desks in front of the DAX board at the Frankfurt stock exchange

European Markets Gain Before ECB Meeting

European markets rose Thursday on hopes ahead of the European Central Bank meeting where the bank is expected to announce policy measures to boost the euro zone economy and revive growth momentum.
Currency dealers work in a dealing room of a bank in Seoul

South Korea’s GDP Growth Cut To 0.3% In Q2

South Korea's economic growth slowed down to 0.3 percent in the second quarter this year compared to previous three months, weighed down by the faltering global economy and the intensifying debt crisis in the euro zone, revised data released by the Bank of Korea Thursday showed.
Petrol price

Finance, Oil Ministries Push for Fuel Price Increase

The finance and oil ministries are lobbying for an increase in prices of diesel, kerosene and LPG, warning cabinet colleagues that time is running out to avert a fiscal disaster and a sovereign credit downgrade to junk by global ratings agencies.
Man looks at an electronic board displaying various market indices from around the world outside a brokerage in Tokyo

Asian Stocks Rise On ECB Easing Hopes

Most of the Asian markets rose Thursday as investors remained hopeful that the European Central Bank would announce stimulus measures soon to help boost the euro zone economic growth.
Droid Razr

Google Introduces Three Motorola Razr Phones Ahead Of Apple Units

Google (Nasdaq: GOOG), the No. 1 search engine, which now owns the Motorola brand, refreshed its product line with three new members of the Razr brand line in a bid to recapture past success. They’re the first major new lines since Google completed the $12.5 billion acquisition of the former Motorola Mobility in May.
IBTimes Logo

Latin America's Five Most Competitive Countries (And One Slacker)

Chile retained its top spot among Latin American economies as the most economically competitive nation, while its neighbor to the east continued falling, according to a report from the World Economic Forum, which hosts the annual economic summit in Davos, Switzerland.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.