August 25, 2015
China Tries To Boost Growth in Its Economy
China has cut its main interest rate to boost growth in its economy. The People's Bank of China cut its main interest rate by 0.25 percentage points to 4.6% in an effort to calm stock markets after two days of turmoil. It is the fifth interest rate…
August 24, 2015
South Africa Currency Falls
South Africa's currency has fallen to an all-time low against the US dollar. It briefly hit a rate of 14 to the dollar amid concerns about the strength of the Chinese economy, reports the Reuters news agency. Economies that rely on the sale of…
August 20, 2015
Global economy woes spark share falls
Shares and oil prices around the world have seen further falls, sparked by renewed fears over the health of the global economy. In China, the authorities intervened again on the stock market to little effect. Shares in Shanghai fell 1.5%. And in…
August 19, 2015
Growth in US Economy
The US economy grew at an annualised pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months…
August 18, 2015
Drop in Profits for Walmart & ASDA
US supermarket giant Walmart has posted a fall in profits, missing analysts' expectations, and a drop in sales at its UK supermarket, Asda. Walmart reported net income of $3.48bn (£2.2bn) in the three months to July, down from $4.09bn a year…
August 17, 2015
Jeff Bezos defends Amazon
The world's biggest online retailer is firing back against reports of an abusive corporate culture. A New York Times report over the weekend described a demanding and degrading environment at Amazon. Amazon's boss Jeff Bezos wrote in a memo to staff…
August 14, 2015
New Bailout in Marathon Debate For Greece
The Greek parliament has backed a new bailout deal after an all-night debate, despite a rebellion by many MPs in the governing Syriza party. The deal requires tax rises and more tough spending cuts in return for an EU bailout of about €85bn (£61bn,…
August 13, 2015
Grand Turk Lighthouse redevelopment to be more expensive
One of the land marks in the nation’s capital Grand Turk, has come in for some rave reviews, having been ranked as #5 of nine must see sights in the island, home to the mega Grand Turk Cruise Centre, with an impressive 4.5 rating. And what many see…
August 13, 2015
DO NOT GET TAKEN BY WIRE TRANSFER SCAMS
The Financial Crimes Unit of the Royal Turks & Caicos Islands Police Force has sounded a warning to residents here in the TCI, not be tricked by scammers as they have detected a recent increase in scam victims here in the TCI. The FCU warns…
August 13, 2015
Growth in Greek Economy
The Greek economy grew by 0.8% in the second quarter of the year, confounding expectations of a steep contraction. The official figures, based on a flash estimate, also revised a reading of 0.2% negative growth in the first quarter to a flat…