Home The Economic Times

Kuwait replaces oil officials at KPC after $2.2 bln Dow payment

appointed a new chief executive and suspended other top officials after the country paid $2.2 billion in damages to Dow Chemical Co over a scrapped plastics joint venture.replaced Farouk Zanki as CEO at the oil firm and the cabinet approved the nomination of six board members, a statement on state news agency KUNA said. Newspaper al-Rai said that two of the board members were new.unit Petrochemical...

Source : The Economic Times | 8 Hour(s) AgoCategory : frontpage

Toyota plans to increase lithium-ion car battery output: Nikkei

offeMost of Toyota's hybrid vehicles use nickel-metal hydride batteries but the automaker is planning to make more cars with lithium-ion batteries.Motor Corp is planning to increase production of lithium-ion batteries by six times, as the automaker prepares to eventually use them in its flagshipuse nickel-metal hydride batteries but the automaker is planning to make more cars with lithium-ion batteries,...

Source : The Economic Times | 8 Hour(s) AgoCategory : frontpage

Silicon Valley-area hub becomes factory town

offeWelcome to Fremont, California, a nondescript suburb of 217,000 tucked in the high-tech region between San Francisco and Silicon Valley where something unique is happening: manufacturingFREMONT: In a busy factory, machinists move sheets of aluminum roll in the back door to be molded, stamped, twisted and notched into high-tech electric cars that sell for more than $60,000 each.Down the road in...

Source : The Economic Times | 12 Hour(s) AgoCategory : frontpage

Japan's economic rebound a recipe for Europe?

recovery of the Japanese economy is renewing pressure on European policymakers to shift course from austerity to stimulusPARIS: The recovery of the Japanese economy, just as a recession in Europe digs in, is renewing pressure on European policymakers to shift course from austerity to stimulus.Data released on Thursday showed Japan's economy grew markedly in the first quarter, only weeks after a new...

Source : The Economic Times | 12 Hour(s) AgoCategory : frontpage

EU, China have much to lose if trade war breaks out: analysts

latest tit-for-tat EU-China trade disputes could signal worse to come but both sides have a lot to lose if things get out of hand and harm the much-needed economic growth they seekBRUSSELS: The latest tit-for-tat EU-China trade disputes could signal worse to come but both sides have a lot to lose if things get out of hand and harm the much-needed economic growth they seek, analysts said.In May alone,...

Source : The Economic Times | 12 Hour(s) AgoCategory : frontpage

Greece enters sixth year of recession, but prospects improving

offeData released last week showed Greece entered its sixth straight year of recession, but there is now cautious optimism about the economy's prospectsentered its sixth straight year of recession, but there is now cautious optimism about the economy's prospects although unemployment is still hitting record highs and consumers are squeezed by pay cuts and tax hikes.On Tuesday, Greece's battered debt...

Source : The Economic Times | 12 Hour(s) AgoCategory : frontpage

BoE governor Mervyn King warns of risks in UK mortgage scheme

offeLONDON: A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank of EnglandKing's warning follows criticism that the plan will encourage the kind of risky lending that precipitated the 2008 financial crisis.have, which is a government-guaranteed mortgage market, and they are desperately trying to find a way out of that position,"...

Source : The Economic Times | 16 Hour(s) AgoCategory : frontpage

Falling US deficit renews austerity or growth debate

offeWASHINGTON: Austerity or growth? Europe's struggling economies have faced the question without fully answering it in recent years, but theindicate the US deficit will shrink more than 40 percent during fiscal 2013, returning to its lowest level in five years.The figures would likely be viewed with envy in European capitals as they reflect an outlook based on a USthat continues to grow -- in stark...

Source : The Economic Times | 17 Hour(s) AgoCategory : frontpage

Thousands join anti-austerity march in Rome

metal workers union FIOM said the rally was to demand "the right to jobs, training and health care".He said the country's dire economic conditions began with the decisions of the previous governments ofThe unemployment rate in Italy has reached 11.5 per cent, and a staggering 38.4 per cent among young people aged 15 to 24."We have to stop the layoffs and reform social aid," said Landini, calling for...

Source : The Economic Times | 18 Hour(s) AgoCategory : frontpage

Silicon Valley-area hub becomes factory town

offeFREMONT: In a busy factory, machinists move sheets of aluminum roll in the back door to be molded, stamped, twisted and notched into high-tech electric cars that sell for more than $60,000 each.Down the road in another plant, crews slice solar cells, place them under glass sheets and create panels that ship by the boxful to Europe. Elsewhere in this town, industrial workshops and laboratories buzz...

Source : The Economic Times | 18 Hour(s) AgoCategory : frontpage