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Middle East

Saudis pound arms depots in Yemen as bread and medicine run short

A boy waits for his father in front of a damaged factory after an air strike by a Saudi-led coalition struck a nearby missile base, in Yemen's capital Sanaa on Monday. Picture: REUTERS

A humanitarian crisis is worsening as both sides block aid


Quake also devastates Nepal’s economy

Rescue team member works to dig out the trapped body of a woman from a collapsed house a day after an earthquake in Bhaktapur, Nepal on Sunday. Picture: REUTERS

Nepal faces a crippling multibillion-dollar post-quake reconstruction bill that will set it back years


Department of International Relations says all South Africans in Nepal have been accounted for

People clear rubble in Kathmandu's Durbar Square, a Unesco World Heritage Site that was severely damaged by an earthquake on Saturday. Picture: AFP PHOTO/PRAKASH MATHEMA

Thousands of people fleeing the capital Kathmandu after an earthquake that killed more than 3,700


Nepalese earthquake death toll exceeds 1,900

People search for family members trapped inside collapsed houses a day after an earthquake in Bhaktapur, Nepal on Sunday. Picture: REUTERS

In Everest’s worst disaster, the bodies of 17 climbers have been recovered from the mountain after being caught in avalanches, but hundreds, many injured, remain stranded on the mountain


It took Modi minutes to help neighbouring Nepal after earthquake

Narendra Modi.  Picture: REUTERS

India has dispatched a military plane and disaster management personnel to Nepal


Zwelithini could teach Miliband a trick or two

Simon Lincoln Reader advises Labour supporters who acknowledge the party’s folly, yet still wish to support Miliband, to ‘do a Zwelithini’

A Nepalese man and woman hold each other in Kathmandu's Durbar Square, a Unesco World Heritage Site that was severely damaged by an earthquake on Saturday. Picture: AFP PHOTO/PRAKASH MATHEMA

GALLERY: Nepal earthquake

Nepalese resucers search for survivors after earthquake kills thousands, destroys historic landmarks and triggers a deadly avalanche on Everest


Top US court appears on cusp of declaring right to gay marriage


The US Supreme Court’s arguments on Tuesday over same-sex marriage will cap more than two decades of litigation and a transformation in public attitudes


GLOBAL ECONOMIC WEEK AHEAD: More central banks meet, but ability to pilot economies in doubt

The sun rises to the east of the US Federal Reserve building in Washington DC.  Picture: REUTERS

Many expect the Fed to make it clear that it is inclined to take the first solid opportunity it can find to set extraordinarily accommodative interest rate policy back on a more normal path

Middle East

Saudi-led air strikes hit Yemeni capital, ships shell Aden, say residents

A man rides a motorcycle past a headquarters of the Houthi group, which was destroyed after an air strike by a Saudi-led coalition, in Yemen's northwestern city of Saada. Picture: REUTERS

At least five air strikes hit military sites and an area near the presidential palace compound in the Yemeni capital Sanaa


US jobless claims rise for third straight week

A woman walks to enter a line for the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York.  Picture: REUTERS

Underlying trend, however, continues to point to a solidly improving labour market


Chilean volcano erupts for first time in decades

This view from Puerto Varas, southern Chile, shows a high column of ash and lava spewing from the Calbuco volcano, on April 23 2015. Picture: AFP PHOTO/DAVID CORTES SEREY/AGENCIA UNO

Calbuco erupts twice in space of hours, blasting huge clouds of ash into air, forcing authorities to evacuate about 5,000 people

International companies


NEWS ANALYSIS: Petrobras overhaul calls for much more than corruption clean-up

A file picture of Petrobras oil platforms at Campos basin in Rio de Janeiro. The state oil company is embroiled in a growing corruption scandal. Picture: REUTERS

A fraction of Petrobras’ $17bn write-down relates to corruption, the rest is incompetence — bad investment decisions, flawed execution, political interference and falling oil prices


Deutsche Bank pledges overhaul, shares slide

Deutsche Bank. Picture: MARTIN RHODES

Deutsche Bank will cut €200bn in investment bank assets and exit a tenth of the countries in which it operates


Apple Watch goes on sale — quietly — in Asia

Yuichiro Masui, the first customer to purchase an Apple Watch at an electronics store in Omotasando, poses with his watch in Tokyo on Friday. Picture: REUTERS

Smartwatch makes debut in some Asian markets, but sales are limited to those who have pre-ordered online, so none of the usual Apple product fanfare

An employee holds an emblem for a Volkswagen Golf car in a production line at the Volkswagen headquarters in Wolfsburg, Germany, in this November 14 2008 file photo.  Picture: REUTERS

Volkswagen investors hope Piech exit may usher in change

Almost 80% of VW investors expect the carmaker’s stock market value to increase after the chairman’s departure


Google shares rise after online ad sales drive revenue higher

Picture: REUTERS

Google reports higher quarterly revenue, profit as rising online ad volume offsets a hit from strong dollar, sending internet company’s shares higher in after-hours trading


Ferdinand Piech resigns as chairman of Volkswagen

VW’s supervisory board chief Ferdinand Piech (right) sparked a media debate at the weekend by declaring in an interview  he is 'distancing himself' from VW’s CE Martin Winterkorn  (left). Picture: AFP PHOTO/JOHANNES EISELE

Piech leaves after losing a showdown he had provoked with CE Martin Winterkorn, ending an era at the iconic German carmaker


Refugee crisis puts EU under pressure

Migrants hold their numbers after disembarking from the Italian Navy ship Chimera in the southern harbour of Salerno on Wednesday. The EU meets over the refugee crisis on Thursday. Picture: REUTERS

European governments under mounting pressure to act decisively on migrant crisis as details emerge of fate of those who died in worst tragedy yet


NEWS ANALYSIS: Why China must shrink its huge debt burden

Workers clean the windows of a building in Beijing's commercial district on Monday. China and 30 other countries have set up the $50bn Asian Infrastructure Investment Bank. Picture:  REUTERS/KIM KYUNG-HOON

The cheque is no longer blank in China’s ‘new’ economy, writes Enda Curran


North Korea may soon double arsenal of nuclear warheads

Kim Jung-un. Picture: REUTERS/KCNA

Country led by Kim Jung-un already has 20 warheads and capacity to produce enough weapons-grade uranium to double its arsenal by next year, says WSJ report


Obama admits US killed two hostages

American hostage Warren Weinstein is shown in this image captured from an undated video. Weinstein and Italian Giovanni Lo Porto were killed in a US counterterrorism operation in January, President Barack Obama said on Thursday. Picture: REUTERS/AS-SAHAB MEDIA

Sources blame drone air strikes for operation aimed at killing American al-Qaeda leader Ahmed Farouq


Nepal earthquake kills hundreds, triggers deadly Everest avalanche

This is Nepal's the worst earthquake in 81 years, with its epicentre 80km east of Nepal’s second largest city, Pokhara


Greece offers concessions on some reforms


Greek Finance Minister Yanis Varoufakis says in blog that disagreements with creditors ‘are not unbridgeable’, agrees to some of conditions in exchange for funding


Deutsche Bank to pay $2.5bn to settle Libor case

Deutsche Bank. Picture: MARTIN RHODES

Deutsche Bank ordered to pay record $2.5bn fine to settle US and UK investigations into its role in rigging Libor


EBay profit eases PayPal split fears

COMPROMISED: EBay said cyber criminals raided its network three months ago, stealing some 145-million user records, including passwords, from a database. Picture: BLOOMBERG

Elimination of 2,400 jobs — 7% of the company’s workforce — pushes first-quarter profits and forecasts above analysts’ estimates


Chinese April flash PMI contracts to one-year low

China flags. Picture: REUTERS

Factory activity contracts at fastest pace in year in April, suggesting that economic conditions are still deteriorating despite increasingly aggressive policy easing


Dollar takes shine off Facebook’s results

Picture: REUTERS

Sales rose 42% to $3.54bn, when they could have risen 49% without the currency effects, says CEO Mark Zuckerberg’s social media company


NEWS ANALYSIS: Arrested trader may be linked to $1-trillion ‘flash crash’ of US markets

Photographers try to take pictures through a window  of the prison van believed to be transporting Navinder Singh Sarao as it leaves Westminster Magistrate's court in London, the UK, on Wednesday. Picture: EPA/WILL OLIVER

The five years it took authorities to arrest Navinder Sarao signal the complexities and perils of policing self-regulating trading platforms


Increased costs eat into Facebook’s profit

Picture: REUTERS

Social network posts slowest growth in quarterly revenue in two years, higher spending on research and development affects profit


BHP Billiton urges investors to back South32 demerger

People walk through the foyer of the BHP Billiton headquarters in Melbourne, Australia, in this file picture. Picture: BLOOMBERG

The company says that with a more focused portfolio after the demerger, BHP Billiton will be able to exploit its assets to deliver better shareholder returns

African News

Zimbabwe sanctions call rejected


Top EU court dismisses appeal by Zimbabwe’s attorney-general to have EU sanctions removed


Billiton delays Australia port plan over ore prices

BHP Billiton CE Andrew Mackenzie says its focus in iron ore remains on producing at the lowest possible cost. File picture: BLOOMBERG/FCARTER SMITH

While BHP’s pullback is small compared with overall seaborne iron-ore trade of about 1.3-billion tonnes, it is significant given BHP’s position as an efficient producer

Middle East

More US ships off Yemen to watch Iran

The aircraft carrier USS Theodore Roosevelt crosses the Arabian Sea conducting maritime security operations on Tuesday. Picture: REUTERS/US NAVY/ANTHONY HILKOWSKI

Deployment of the USS Theodore Roosevelt and guided-missile cruiser USS Normandy brings to nine the number of US warships in the area


China bank may have ‘tripled bullion holdings’


Part of its gold reserves plan is to diversify $3.7-trillion in foreign-exchange reserves, write Jasmine Ng and Joe Deaux


UK ‘flash crash’ accused granted £5m bail, fights extradition to US

Members of the media stand outside the family home of 'flash trader' accused Navinder Sarao, in Hounslow, the UK, on Wednesday. Picture: BLOOMBERG/SIMON DAWSON

Dow Jones Industrial Average plunge more than 1,000 points in the day of the flash crash, briefly wiping out nearly $1-trillion in market value before partially recovering

Middle East

Afghan Taliban announces ‘spring offensive’ to start


Taliban says annual offensive will begin Friday, vowing nationwide attacks in what is expected to be bloodiest fighting season in decade as Nato pulls back from frontlines


Storm in UK over South African-born hotelier’s Tory donations

David Cameron. Picture: REUTERS / KEVIN LAMARQUE

Conservative party says it will return more than £50,000 in donations from Bea Tollman after The Independent reported that Ms Tollman’s husband, Stanley, had been convicted of tax evasion in the US


Europe frozen by an inability to confront migration

The emergence of the human stories behind the numbers may finally force European politicians to confront a problem they have preferred to ignore


Defining the best cities a tricky business

Hong Kong. Picture: THINKSTOCK

Clearly, the best approach for measuring a city’s performance differs depending on one’s priorities


EU reverses cutback in sea rescues

Maltese marines toss bottles of water to a group of immigrants whose vessel suffered engine trouble about 30km southwest of Malta. File picture:REUTERS

EU leaders reverse cutback in rescue operations in attempt to prevent record numbers of people drowning as they flee war and poverty in the Middle East and Africa


Swiss losing fight to restrain franc

A Credit Suisse cash services sign placed at a cafe outside a Credit Suisse bank branch in Zurich, Switzerland. Picture: BLOOMBERG

Franc has still gained the most among its G-10 peers this year despite barrage of Swiss National Bank moves


Global support for Asian bank may hand SA benefits

Chinese 100-yuan notes. Picture: REUTERS

The Asian Infrastructure Investment Bank becoming a significant global economic governance episode that is relevant to SA, writes Daniel Bradlow


Most powerful space telescope ever to launch in 2018

The Hubble Space Telescope.  Picture: THINKSTOCK

As Hubble Space Telescope celebrates 25 years in space, NASA and international partners are building an even more powerful tool to look deeper into universe than ever before


EU may give members choices over GM foods

A researcher examines wheat samples. EU members may be able to make their own call on biotech products entering their food chains.  Picture: BLOOMBERG/NATALIE BEHRING

EU regulators risk renewed transatlantic trade dispute as they seek to give countries in the bloc scope to ban imports of genetically modified food


IBM continues painful transition

IBM's multinational headquarters in Madrid. Picture: GETTY IMAGES/CRISTINA ARIAS

As hardware sales declined, information technology group has bet its future on software, services, but strategy has yet to bear fruit


HSBC and StanChart consider Asia as UK taxes bite

The HSBC logo hangs outside a bank branch in London. Research appears to indicate that the bank will recover eventually after the money-laundering scandal at a subsidiary in Switzerland. Picture: BLOOMBERG/SIMON DAWSON

Banks looking at viability of quitting London for a new home in Asia because a big jump in a tax on UK banks makes staying in Britain increasingly painful


Spin-off from Billiton even more of a gift

Xstrata CEO Mick Davis leaves a shareholders meeting in Zug, Switzerland, on Monday. Picture: BLOOMBERG/GIANLUCA COLLA

Falling commodities prices slash value of X2 target South32, write Brett Foley, Firat Kayakiran and James Paton


Morgan Stanley posts highest profit since financial crisis


Wall Street investment bank is focusing less on bond markets and more on managing money for the rich as a way to free up capital and meet stricter regulatory rules imposed since the financial crisis


China’s Premier Li Keqiang cuts banks’ reserve requirements


Cut in amount of cash banks must hold in reserve will allow them to boost lending, unleashing about $194bn, and may spur another leg higher in the nation’s booming stock market


Aston Martin turns to China to soup up supercars


Aston Martin will tie up with Chinese company Letv as part of British car maker’s push to incorporate high-end Chinese technology into vehicles


Tencent beefs up ad share at 58.com

Picture: REUTERS

Naspers’s Chinese associate plans to buy $400m of newly issued ordinary shares from 58.com, which buys a 43% stake in competitor Ganji.com


‘Deadliest’ migrant shipwreck prompts calls for EU to act

Italian Prime Minister Matteo Renzi gives a press conference focused on the shipwreck of migrants last night off the Libyan coast, on Sunday in Rome. Picture: AFP PHOTO/TIZIANA FABI

European Union ministers meet under pressure to confront people-smuggling gangs after more than 700 people are feared dead in ‘worst-ever’ migrant disaster

African News

IS shows purported executions in Libya of Ethiopia Christians

A screengrab of Islamic State video message to the US in 2014.  Picture: YOUTUBE

The 29-minute video allegedly shows IS militants holding two groups of captives, described as ’followers of the cross from the enemy Ethiopian Church’. The video switches between footage of men being beheaded by militants another group being shot in the head


Roughly 700 migrants feared dead in Mediterranean shipwreck

SAFE: Migrants from Sub-Saharian areas stand on a landing craft of Italy’s Navy ship San Giorgio after being rescued in water in the Mediterranean Sea between the Italian and the Libyan coasts.    Picture: REUTERS

As many as 700 feared drowned after packed boat capsizes off Libya in what is described as deadliest such disaster to date in the Mediterranean

Middle East

Israel to transfer millions of dollars of frozen tax funds to Palestinians


Israel says it will transfer $470m of withheld tax revenues to the Palestinian Authority following talks


Bernanke to advise billionaire Ken Griffin’s hedge fund


Former Federal Reserve chairman to become a senior adviser to the Citadel Investment Group


Pressure builds as Greek yields rise

Protesters clash with riot police in Athens, Greece, on Thursday.  Picture: REUTERS/ALKIS KONSTANTINIDIS

Ten-year yields rise to the highest in more than two years after a media report says IMF has rejected a Greek request to delay repayment


China’s yuan as rival to US dollar? It’s closer than you think

Chinese 100-yuan notes. Picture: REUTERS

Yuan could challenge dollar sooner than consensus believes, and new report from Louis-Vincent Gave of Gavekal Dragonomics helps make the case


G-20 warns of risk of financial volatility

G-20 flags. Picture: MIKE HUTCHINGS

Group of 20 leading economies say there is heightened risk of financial volatility as monetary policies of major central banks begin to go separate ways


Greek leader Tsipras suffers his first protest

Miners, workers and supporters of an important gold mine project in northern Greece demonstrate outside the Ministry of Development in Athens this week to put pressure on the government. Picture: AFP PHOTO/LOUISA GOULIAMAKI

Thousands of miners and their families protest in Athens in sign of domestic discontent under new regime


Future of the iconic jumbo jet is up in the air

Emirates CEO Tim Clark says the airline is offering to double its planned purchase of 140 A380s if Airbus carries out a revamp. File Picture: BLOOMBERG

Aircraft sales slump casts doubt on how long production can be sustained, write Alwyn Scott and Tim Hepher


Draghi upbeat on ECB policy ‘successes’

A woman disrupts a press conference by European Central Bank president Mario Draghi  (seated) in Frankfurt, Germany, on Wednesday. Picture: AFP PHOTO/DANIEL ROLAND

European Central Bank chief cites clear evidence that the QE monetary policy measures are effective

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