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Seoul. The International Monetary Fund’s deputy managing director warned on Monday that there is “considerable” risk for negative spillover from the US Federal Reserve’s pending interest rate hike. “The risk is once market sentiment shifts — possibly triggered by normalization — yields could sharply increase and capital flows could reverse,” Mitsuhiro Furusawa told an international […]

Montreal. An assured pole-to-flag win, without safety cars or strategy blunders, was just what Lewis Hamilton needed in Canada on Sunday – even if relief was too strong a word. “Did I need this? I think so. I think so,” the Formula One world champion told the crowd on the podium after his fourth win […]

Ankara. Turkish President Tayyip Erdogan’s hopes of assuming greater powers suffered a major setback on Sunday when the ruling AK Party he founded failed to win an outright majority in a parliamentary election for the first time. Erdogan, Turkey’s most popular modern leader but also its most divisive, had hoped a crushing victory for the […]

Paris. The push worldwide for a low cost model in retailing is a damaging trend, the head of France-based food retail group Carrefour said in an interview with the Journal de Dimanche newspaper. “We have to be competitive. In all countries price is crucial,” said Chairman and Chief Executive Georges Plassat, whose company has more […]

Paris. There were no jeers this time as Swiss Stanislas Wawrinka defied the odds to win the French Open with a courageous 4-6, 6-4, 6-3, 6-4 victory over world number one Novak Djokovic in an enthralling final on Sunday. The eighth seed, booed by the crowd when he played French opponents this year, handed Serbian […]

Dubai. Russia will begin importing Iranian oil under a long-heralded oil-for-goods barter arrangement in the coming week, Iran’s oil minister was quoted as saying, more than a year after negotiations began. The Kremlin announced in April it had begun to implement the deal, in which Iran would export up to 500,000 barrels per day (bpd) […]

Sittwe, Myanmar. The rickety Internet huts have fallen silent in the crowded camps of displaced Rohingya Muslims in western Myanmar; no one comes anymore to bargain for the release of loved ones being held for ransom in Thailand and Malaysia. “Before, every day at least 10 to 15 people would come here to negotiate with […]

Barcelona’s Luis Suarez in action(Reuters Photo/Michael Dalder) Luis Suarez scores second goal for Barcelona during the final Champions League match against Juventus in Olympiastadion, Berlin, Germany, June 6, 2015.(Reuters Photo/Fabrizio Bensch) Luis Suarez scores second goal for Barcelona during the final Champions League match against Juventus in Olympiastadion, Berlin, Germany, June 6, 2015.(Reuters Photo/Michael Dalder) […]

Shanghai. The rapid liberalization of Chinese derivatives markets has attracted a new breed of creative traders employing complex trading strategies that can generate quick profits – and an extra dollop of risk – in China’s runaway stock boom. Brokerages and fund managers are investing in mathematics whizzes and hardware, and moving servers onto trading floors to […]

Berlin. Tohid Tasoujian is a co-founder of online fashion store Taxi Moda and one of a growing breed of Internet entrepreneurs in sanctions-hit Iran. He set out his stall this week at a conference of more than 80 Iranian start-ups in Berlin, the biggest event of its kind outside Iran, as the country gears up for […]