Italian antitrust authorities on Wednesday said it fined Swiss pharmaceutical companies Novartis and Roche over 180 million euros (247 million U.S. dollars).
According to Italian new agency ANSA, the pharmaceutical companies were fined for allegedly colluding to manipulate the market in Italy.
"The two companies made an illegal agreement to curtail the use of a very cheap pharmaceutical, (Roche's) Avastin,…Read more
The European Union can mobilize an initial 610 million euros (838 million dollars) in loans for Ukraine “over the next weeks,” says European Commission President Jose Manuel Barroso, adding that 600 million euros in grants could also be provided “very fast.”The measures are part of an overall EU aid offer for the coming years that includes 1.6 billion euros in…Read more
China's 2014 draft central budget for investment programs has increased, but a substantial portion will be used to fund projects in public welfare, a senior official from China's top economic planner said on Wednesday.
"We will allocate 100 billion yuan (16.32 billion U.S. dollars) to support infrastructure projects, or those of comprehensive or strategic importance," said Xu Shaoshi, head of…Read more
The US services sector expanded at its slowest pace in three years in February, with harsh winter storms blamed in part, the Institute for Supply Management said Wednesday.
The ISM purchasing managers index for the services industry fell to 51.6 from 54.0 in January, putting it only narrowly above the 50.0 threshold between expansion and contraction.
It was the lowest…Read more
About 50 million tonnes of grain are lost or wasted each year in China, the State Administration of Grain director Ren Zhengxiao said in Beijing on Wednesday.
The figure is equal to about 8.3 percent of the country's total annual grain production.
According to Ren, who is also a member of the Chinese People's Political Consultative Conference National Committee,…Read more
Spanish yields on Wednesday dropped to their lowest levels over the last years as the European Central Bank (ECB) meets to announce new measures.
Local media reported that Spain's two-year bond interest rates dropped from 0.76 percent to 0.72 percent in early trading while the country's five-year bond interest rate fell from 2 percent to 1.93 percent.
Interest rates were…Read more
The Eurorpean Union (EU) on Wednesday warned of economic imbalances in large member states such Germany, France and Italy. It called for increased investments and demand to improve the economic climate.Read more
Russian Consul-General in the Northern city of Rasht Maxim Baranov underlined the important role of chambers of commerce in the further expansion of the relations between Tehran and Moscow, specially in trade and economic fields.
“Gilan’s Chamber of Commerce plays an important role in removing the problems and expanding the trade and commercial relations between the businessmen of (Russia’s) Astrakhan…Read more
Kuwaiti exports were KD 8.5 billion with a 9.1 percent increase and imports were KD 2.1 billion with a 10.4 percent increase compared with July-September 2012, according to the provisional foreign trade statistics results, in July-September 2013.In July-September 2013, balance of trade was KD 6.4 billion KD while it was KD 5.8 billion in July-September 2012 with a 8.7 percent…Read more
Macao's domestic loans to local private sector in January increased by 4.5 percent month-to-month to an equivalent of 269.0 billion patacas (33.65 billion U.S. dollars), according to figures released on Wednesday by the Monetary Authority of Macao.
The figures also indicated that 29.6 percent of the domestic loans was pataca-denominated, while 61.8 percent was denominated in Hong Kong dollar.