Finance news

Taiwan economy: an aging tiger in need of cubs

27-12-2015 22:54 via news.yahoo.com

By Faith Hung TAIPEI (Reuters) - Jason Tsai is among the few in Taiwan with excellent English, but two years after graduating from university the highly sought language skill has failed to secure him a well-paying job. Tsai has been pulling in an average monthly pay of T$15,000 ($455) through part-time work, below the minimum wage of T$22,000 for college graduates and one-fourth of the retirement-pension received by state employees. The plight of young workers such as Tsai highlights a serious p

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German politicians slam Greece over handling of refugee crisis

27-12-2015 14:34 via news.yahoo.com

Germany's finance minister Wolfgang Schaeuble and a senior Bavarian politician criticized Greece on Sunday over the way it is managing its role in Europe's biggest migration crisis since World War Two. Schaeuble, who has clashed repeatedly with Greek officials this year over economic policy, told Bild am Sonntag that Athens has for years ignored the rules that oblige migrants to file for asylum in the European Union country they arrive in first. Greece, a main gateway to Europe for migrants cros

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Germany's Schaeuble critical of Greece over refugee policy

27-12-2015 12:18 via news.yahoo.com

Germany's finance minister Wolfgang Schaeuble criticized Greece on Sunday over the way it deals with refugees, saying Athens has ignored for years the European Union's Dublin rules that oblige migrants to file for asylum in the first EU country they arrive in. Schaeuble told the Bild am Sonntag newspaper that German courts had decided some time ago that refugees were not being treated humanely in Greece and could not be sent back there, contrary to the Dublin rules. "The Greeks should not put th

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MIDEAST STOCKS-Saudi falls before budget, rate hike hits Egypt

27-12-2015 10:57 via news.yahoo.com

Saudi Arabia's stock market fell in early trade on Sunday ahead of the release of the state budget for 2016, while Egypt's market was hit by an interest rate hike. The Saudi index fluctuated between positive and negative territory in the opening minutes before slipping 0.8 percent as the largest listed company, Saudi Basic Industries (SABIC), fell 1.2 percent. The Saudi budget, due to be announced on Monday afternoon, is expected to contain spending cuts, possibly including a rise in natural gas

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Global miners battling to stay afloat after torrid year

27-12-2015 07:19 via news.yahoo.com

Global miners are battling to stay afloat after enduring one of the toughest years in recent times, with tumbling commodity prices and supply gluts set to force more closures and massive cuts in 2016, analysts say. China's once insatiable appetite for commodities -- boosted by an unprecedented investment boom in the world's second-largest economy -- has waned, with its shift towards consumption-driven growth dampening demand. The iron ore price sank below US$40 in early December, its lowest sinc

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