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Tourism on the rebound in Iran as number of visitors surge

  Tribune News Service When the video Don’t Go To Iran first hit the internet this spring, the title made some Iranians fear it would be yet another effort to taint the country’s image. But it was quite the opposite. French filmmaker Benjamin Martinie said the video aimed to clear up misconceptions about Iran, by countering common stereotypes through clips ...

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Pound set to extend decline as investors expect BOE rate cut

  Bloomberg The pound looks set to extend its decline next week, when traders and economists predict the Bank of England will cut interest rates for the first time in more than seven years. Sterling, which posted its third consecutive monthly drop against the dollar in July, has weakened versus all of its 31 major peers in the past three ...

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Morgan Stanley warns of worst to come for dollar

  Bloomberg The dollar is set to fall 5 percent in the next few months, the Federal Reserve isn’t raising interest rates anytime soon and U.S. economic data is only going to get worse. That’s what Morgan Stanley chief global currency strategist Hans Redeker told clients in a note published Thursday, citing in-house indicators showing U.S. domestic demand is set ...

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Real trims monthly decline amid budget speculation

  Bloomberg Brazil’s real advanced on speculation that Finance Minister Henrique Meirelles will have more power over budget planning as the government seeks to control spending and restore confidence in Latin America’s largest economy. The real trimmed its monthly decline after a government aide who asked not to be named said that the office responsible for budget planning will be ...

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Mexico GDP falls for 1st time in 3 years on slower services

  Bloomberg Mexico’s economy contracted in the second quarter for the first time in three years as growth in the services industry slowed and exports fell. Gross domestic product declined 0.3 percent from the first three months, according to preliminary figures released by the national statistics institute Friday. The median forecast of 13 economists surveyed by Bloomberg was for a ...

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Clinton-Kaine ticket takes economy message on the road

  Bloomberg Hillary Clinton called her race against Donald Trump the highest-stakes U.S. presidential race in her lifetime as she rallied with her running mate, Senator Tim Kaine, for the first time as the Democratic nominees for president and vice president. “There’s no doubt in my mind that every election in our democracy is important in its own way,” Clinton ...

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With new US factory, Daimler skirts tariffs…and unions

  Detroit / AFP German automaker Daimler AG broke ground this week on a $500 million plant in Charleston, South Carolina to build vans, with the company hoping at last to avoid steep US import tariffs. When the factory comes online by the end of the decade, it may also help the company pay lower wages and circumvent labor unions. ...

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Chinese banks with global dreams eye ME mega bonds

  Bloomberg Bank of China Ltd. is heading down the old Silk Road marketing new goods: Debut bonds from Saudi Arabia to Kazakhstan. In its biggest-ever foray outside Asia, the state-controlled lender is said to have landed three mandates to co-manage emerging-market Eurobonds, including the Saudi government’s international sale. China’s fourth-largest lender is one of nine underwriters hired by the ...

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Tata’s revenue drops amid commodity woes

  Bloomberg Tata Group, the coffee-to-cars conglomerate, said revenue slipped 4.6 percent for the year ended in March, hurt by global political uncertainty, a commodity price crash and volatility in currencies. Revenue at India’s biggest business house dropped to about $103 billion from $108 billion the previous year, according to a statement. The company draws 69 percent of its revenues ...

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China’s Fosun to acquire Brazil investment firm

  Bloomberg China’s Fosun on Saturday signed an agreement to acquire Brazil-based investment management firm Rio Bravo, according to a statement, just a day after the Chinese conglomerate announced another massive overseas deal. Fosun, which has interests ranging from property to mining, said it will buy the controlling share of privately-owned Rio Bravo Investimentos, but did not give a value ...

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