Russia has become a world-class saver. So much gold has piled up in its central bank that Russia surpassed China last year to become the world’s fifth-largest holder of gold. The International Monetary Fund often has to badger developing nations to bulk up foreign currency reserves. Russia...

 Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments.  SoftBank Group said it would repurchase 112 million shares worth 600 billion...

Iran on Tuesday ruled out linkage between a new EU mechanism to trade with Tehran bypassing US sanctions and an anti-money laundering bill. "Linking implementation of this mechanism... with the requirements of institutions such as the FATF is unacceptable," the foreign ministry said,...

The World Bank, whose new president is due to be appointed by mid-April, is a global financial organization whose mission is to end extreme poverty by supporting development projects. Like its sister institution, the International Monetary Fund (IMF), it was created in 1944 at the Bretton...

Berlin-based airline Germania has filed for bankruptcy and cancelled all flights with immediate effect, the company said early Tuesday. The airline with 37 aircraft had flown mainly Mediterranean, North African and Middle Eastern holiday routes for German sun-seekers on package trips, and...

U.S. sanctions on Venezuelan oil company PDVSA will affect the global market negatively, the oil minister said Monday. In an interview aired by private broadcaster Televen, Manuel Quevedo, also president of the oil company, commented on U.S. sanctions imposed last week on PDVSA and its U.S....

Wall Street gained on Monday to hit session highs boosted by technology shares ahead of Alphabet’s earnings, the last FAANG stock to post quarterly results.  FAANG earnings have been a mixed bag so far, with Apple Inc and Facebook Inc posting better-than-expected quarterly results last...

Bill Gross, once the global bond market’s most influential investor and prognosticator, will retire in coming weeks from Janus Henderson Group Plc, ending an attempt to reclaim the stature he had previously enjoyed as head of the world’s largest fixed-income investing firm.  Gross, who...

Neither protagonist in the US-China trade war stands to benefit from their stand-off, the UN said Monday, suggesting others could cash in instead, with the EU possibly winning big. In a report, the UN Conference on Trade and Development (UNCTAD) examined the repercussions of the tariff...

Russia's economy expanded 2.3 percent last year, growing more quickly than the government and the IMF had predicted, according to state statistics published Monday. Russia's growth rate accelerated from 1.6 percent in 2017 and exceeded the economy ministry's prediction of 1.8 percent as...

Nissan's decision to axe planned production of the X-Trail SUV in the Brexit-backing city of Sunderland is a heavy blow to the British auto sector, which repeatedly warned against quitting the EU. The Japanese carmaker revealed Sunday that the crossover vehicle would no longer be...

Asia stocks hovered near four-month highs on Monday after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong U.S. employment and manufacturing data. Spread-betters expect European markets to start on a cautious note, with...

nternational benchmark Brent crude traded at $62.90 per barrel at 06.39 GMT on Monday while American benchmark West Texas Intermediate (WTI) saw prices of $55.09. Crude oil prices were down at trading start on Friday as investors focused on talks between the U.S. and China in the hope that...

British MPs on Saturday said they were "deeply troubled" by reports that Japanese car manufacturer Nissan is cancelling plans to build its X-Trail SUV in Britain despite Brexit assurances from the government. Nissan is set to announce on Monday that it has changed plans to build the vehicle...

General Motors is expected to lay off about 4,000 salaried workers under a reorganization announced late last year, a person familiar with the matter said Friday. The layoffs are part of a cost-cutting plan GM announced in November, which will slash 15 percent of its salaried and contract...

US oil giants Exxon Mobil and Chevron reported strong annual profits on Friday, concluding with a solid fourth quarter despite a dive in crude prices at the end of the year. Exxon Mobil reported profits of $20.8 billion in 2018, up 5.8 percent from 2017, while Chevron notched annual...

Almost a third of British companies are considering moving or setting up overseas operations because of Brexit, according to a survey published Friday by business lobby group the Institute of Directors. The IoD survey of over 1,200 company directors found that 16 percent had already decided...

President Donald Trump on Wednesday touted the chances of success as US-China trade negotiations entered a second day, saying Beijing was eager to make a deal. In a morning series of tweets, he also said a final deal would leave "NOTHING" unresolved but such a bargain could only be struck...

The EU's powerful anti-trust sheriff on Thursday accused eight banks of having conspired for several years to distort competition in the eurozone bond market. According to the European Commission, the banks colluded to distort competition when acquiring and selling eurozone government bonds...

The world's biggest shipbuilder, South Korea's Hyundai Heavy Industries, has reached a deal to acquire a majority stake in ailing number two Daewoo from the government, Seoul said Thursday. The world's top three shipbuilders are South Korean -- Samsung Heavy ranks third -- but the industry...