January 29, 2013
Japan eases restrictions on US beef imports
Japan has opened the door for increased imports of beef from the US, as it eased restrictions that have been in place for almost a decade. It will now allow the import of beef from cattle up to 30 months old. Japan banned US beef imports in 2003…
January 29, 2013
Burma gets Asian Development Bank and World Bank loans
The Asian Development Bank (ADB) and the World Bank have approved fresh loans for Burma to aid the social and economic development of the country. The ADB granted $512m (£325m), while the World Bank approved a $440m credit. The loans were made…
January 27, 2013
Apple eclipsed by Exxon Mobil as most valuable company
Apple has lost its crown as the world's most valuable publicly traded company after its shares continued to fall. Oil company Exxon Mobil has regained the top slot after Apple shares fell 2.4%, following a 12% drop on Thursday. Apple, which posted…
January 27, 2013
European banks to repay early ECB loans
Some of the banks in Europe that received billions in cheap loans to keep them afloat during the eurozone debt crisis are to repay them early. The European Central Bank (ECB) said that 278 eurozone banks will repay 137.16bn euros ($185bn; £117bn) of…
January 27, 2013
St Lucia UK tourist visits up, US down
Tourism officials say there was significant improvement in some St Lucia key markets during 2012 including the United Kingdom, despite the recession and increase in the Air Passenger Duty (APD). However they lament a decline in arrivals in the…
January 27, 2013
Wall Street shares top recent records on investor confidence
Wall Street has continued to break recent records on the back of stronger economic data and better profits news from corporate America. The Dow Jones and S&P 500 indexes of major US companies closed at their highest since late 2007. US homes…
January 27, 2013
Pentagon laying off 46,000 staff
The US defence department says it has begun laying off most of its 46,000 temporary employees, as automatic defence budget cuts loom in March. Deputy Defence Secretary Ashton Carter said the Pentagon was acting "because we're running out of time" to…
January 24, 2013
Japan Moves to Stimulate Its Stalled Economy
Japan's central bank is embarking on an American-like plan to stimulate the country's stalled economy by pumping more money into it. The Bank of Japan, under pressure from the new government of Prime Minister Shinzo Abe, agreed Tuesday to double…
January 20, 2013
Morgan Stanley swings back to profit
US bank Morgan Stanley has said it swung back to profit in the fourth quarter of 2012, a turnaround it described as a "pivot point". It reported a net profit of $481m (£302m) in the last three months of the year, compared to a loss of $275m in the…
January 20, 2013
China growth shows signs of pick-up from 13-year low
China's economy, the world's second largest, is showing signs of a rebound that could help it emerge from its worst economic period in 13 years. According to the latest government figures, growth picked up to 7.9% in the final three months of 2012,…