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German economic fears growing but Merkel strong

published less than 1 hour ago
German economic fears growing but Merkel strong
BERLIN (AP) — Ordinary Germans are spooked about the future. Businesses are starting to see black clouds on the horizon. And an economy that has been the envy of Europe is showing cracks, shrinking unexpectedly last quarter amid the conflict in Ukraine.

With economy sinking, Mugabe sets hopes on "old friend" China

published about 2 hours ago
With economy sinking, Mugabe sets hopes on "old friend" China
By Cris Chinaka and Michael Martina HARARE/BEIJING (Reuters) - Snubbed by a U.S.-hosted gathering of African leaders this month, Zimbabwe's veteran President Robert Mugabe has turned again to "old friend" China, but even Beijing's support may not be enough to rescue his country's sinking economy. Mugabe, at 90 Africa's oldest leader and one of its longest ruling, received a warm welcome on a visit to China this week, something he hasn't received for many a year in the West, where ... more

Virgin Australia annual net loss triples

published about 3 hours ago
Virgin Australia annual net loss triples
Virgin Australia on Friday posted an annual net loss of Aus$355.6 million (US$332 million) as intense competition led by Qantas, weak consumer sentiment and high taxes hurt its bottom line. The country's second largest carrier also announced the sale of a 35 percent stake in its frequent flyer programme to private equity firm Affinity Equity Partners, boosting its cash balance by Aus$336 million. The result was more than triple the Aus$98.1 million loss it reported in the 12 months to ... more

Turkey's new cabinet unlikely to spell major policy shift

published about 3 hours ago
Turkey's new cabinet unlikely to spell major policy shift
By Gulsen Solaker ANKARA (Reuters) - Turkey's new Prime Minister, Ahmet Davutoglu, will announce his cabinet on Friday, a day after Tayyip Erdogan was sworn in as president, with the new government not expected to signal any major changes in policy direction. The current economic team, including Deputy Prime Minister Ali Babacan and Finance Minister Mehmet Simsek, is expected to remain largely intact. EU minister Mevlut Cavusoglu is seen as leading contender for foreign minister. Erdogan aide Yalcin Akdogan was ... more

India's new government spurs faster growth: forecasts

published about 4 hours ago
India's new government spurs faster growth: forecasts
Figures out Friday are expected to show India's faltering economy grew at its fastest pace in over two years in the first financial quarter, as the election of a new right-wing government spurred confidence. India has been mired in its longest spell of sub five-percent growth in a quarter-century. Economists surveyed by India's Economic Times newspaper expect the official data will show a 5.8-percent rise in the gross domestic product of Asia's third-largest economy in the three months to the ... more