AFP Business

Li Ka-shing, Asia’s richest man, has officially anointed his elder son Victor to take the helm at his companies Cheung Kong Holdings and Hutchison Whampoa and will financially support his younger son Richard’s business, in a rare move by a Hong Kong ...  

Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, went up 0.38 percent to 91.5 HK dollars. As for energy stocks, China's top refiner Sinopec rose 0.57 percent to 7.1 HK dollars. PetroChina, the country's largest oil ...  

Trade commissioner Karel De Gucht has instructed the EU delegation in Geneva to file a legal complaint at the World Trade Organisation on alleged Argentine protectionism. He said Buenos Aires' recent expropriation of Spanish oil firm Repsol is "clear proof" of the "worsening trade climate" in the country.  

German Chancellor Angela Merkel and Bavaria’s Prime Minister Horst Seehofer, a conservative ally, want a law that obliges companies to set flexible quotas for women in management positions, Der Spiegel reported, without citing anyone.  

MUMBAI: Within days of Morgan Stanley and StanChart revising downwards country's growth forecasts for the current fiscal, Goldman Sachs and Bank of America-Merrill Lynch today steeply scaled down their GDP estimates to 6.6 and 6.5 per cent ...  

The loss risk of a Greek exit would be an estimated 5.2 billion euros for Credit Agricole, 2.9 billion for BNP Paribas and 400 million euros for Societe Generale, according to Natixis analyst Alex Koagne. Credit Agricole, which has the biggest ...  

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded the Issuer Default Rating (IDR) for Iberdrola USA, Inc. (IUSA) to 'BBB' from 'BBB+' and concurrently assigned a senior unsecured debt rating of 'BBB'. In addition, Fitch has affirmed the IDRs for subsidiary companies New York State Electric & Gas Corp. (NYSEG), Rochester Gas & Electric Corp. (RG) and Central Maine Power Co. (CMP). Short-term IDRs of 'F2' have been assigned to NYSEG and...  

Belgium's Deputy Prime Minister Didier Reynders issued a new warning over Greece, saying it would be a "grave professional error" if central banks and companies were not preparing for a Greek exit from the euro zone. French banks, which are among the ...  

BERLIN -(Dow Jones)- Delaying the payout of the next tranche of the bailout package to Greece by a few weeks wouldn't be a problem, the spokesman of German Finance Minister Wolfgang Schaeuble said Friday. "The emission calendar has scheduled the ...  

They were greeted at a military airport by South Korean President Lee Myung-bak and an honour guard of top officials. The remains arrived from the US. They were among about 200 bodies found by an American excavation team which worked in the ...  

CBC.caGLOBAL MARKETS: European Stocks Set To Open Mildly LowerWall Street JournalBy Ishaq Siddiqi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stock markets are called to start mildly lower Friday as investors look to consolidate previous session gains while retaining a cautious approach given the euro zone's mountain of ...World stocks up tepidly as traders brush off woesSan Jose Mercury NewsEuropean stocks, euro rise on positive...  

U.S. equity markets looked set to open higher Friday on hopes that Germany can be persuaded to back so-called eurobonds, which could be a solution to the ongoing sovereign debt crisis in Europe. In pre-market trading, the Dow Jones Industrial Average rose ...  

BEIJING, May 24, 2012 (Xinhua via COMTEX) -- Premier Wen Jiabao and Malaysian Prime Minister Najib Razak on Thursday discussed bilateral ties and issues of common concern during a telephone conversation. Wen said China and Malaysia have ...  

NEW DELHI: A day after petrol prices were hiked by an all-time record of Rs 7.50 per litre, leading car makers Maruti Suzuki, Tata Motors and Hyundai Motor today announced discounts of up to Rs 50,000 on petrol models for a limited period.  

The addition of capacity, announced Thursday, is part of the revamp initiated this week by Qantas Chief Executive Alan Joyce. Mr Joyce ordered on Monday the closure of the Qantas maintenance hub at Tullamarine Airport and split on Tuesday into ...