January 22, 2015
China leader gets pay raise to US$22,300 a year
Chinese President Xi Jinping's base salary is rising from about US$13,600 to US$22,300 a year under a recent general pay increase for public employees, state media reported Tuesday. The reports gave Chinese citizens a rare glimpse into how much…
January 19, 2015
Obama to seek tax raises on wealthy in State of the Union
President Obama is to use Tuesday's State of the Union speech to call for tax increases on the wealthy to help the middle class, officials say. The proposals would raise $320 billion (£211 billion) over a decade, to fund benefits such as tax…
January 13, 2015
World Bank team visits Dominica
A team from the World Bank has arrived here as Dominica begins to implement a multi-million dollar climate change resilient programme,” Environment Minister Dr Kenneth Darroux said Tuesday. Speaking on the state-owned DBS radio, Darroux said that…
January 12, 2015
Kuwait plans $155-bn projects despite oil slump
Kuwait's government on Sunday announced plans to spend 45.5 billion dinars (155 billion) on projects over the next five years despite the plunge in world oil prices, a lawmaker said. The spending is slated to cover 523 key projects in a five-year…
January 12, 2015
Brent crude oil price falls to fresh six-year low
The price of Brent crude oil has fallen again taking it to a fresh six-year low. The price of a barrel of the North Sea benchmark dropped by 5% to $47.75, its lowest level since early 2009. US crude oil was also at its lowest level since that time,…
January 9, 2015
Coca-Cola to cut up to 1,800 jobs worldwide
Drinks giant Coca-Cola is set to cut up to 1,800 jobs worldwide as it continues cost-cutting efforts. Coca-Cola reported a 14% fall in earnings for the July to September quarter last year and sluggish revenue growth. The job cuts will affect the…
January 9, 2015
US economy adds 252,000 jobs in December
The US economy added 252,000 jobs in December, while the unemployment rate fell to 5.6% from 5.8%, according to Labor Department figures. In addition, figures for the number of jobs created in October and November were both revised upwards. The…
January 7, 2015
CIBC FirstCaribbean reports $95-million loss
LOAN loss impairments led CIBC FirstCaribbean Bank Jamaica Ltd to record a $95-million net loss for its year ending October 2014, according to just released data. However, it comes within the context of wider losses from the bank's regional……
January 7, 2015
Brent Crude oil price dips below $50 a barrel
The price of Brent crude oil has fallen below $50 a barrel for the first time since May 2009. It fell more than a dollar to $49.92 a barrel in early trading on Wednesday before edging back above the $50 mark. Slowing global growth and increased…
January 5, 2015
Euro touches a nine-year low against US dollar
The euro slid to a nine-year low against the dollar as investors predicted the European Central Bank (ECB) may act to stimulate the economy. The euro fell by 1.2% against the dollar to $1.1864, marking its weakest level since March 2006, before…