latest world business news

China's economic growth rose in the fourth quarter of 2012, helping the world's most populous nation end the year with a growth rate of 7.8%, according to figures released on January 18, 2013 from the National Bureau of Statistics. Last quarter, China's economy grew at a pace of 7.9%, slightly better than analyst expectations and breaking a pattern of seven straight quarters of decline.  China's growth rate had been steadily falling since the fourth quarter of 2010, when economic output grew 9.8%. The slowing growth rate bottomed out in the third quarter of 2012, when China's economy only grew at 7.4%.  Last March, Chinese Premier Wen Jiabao lowered the country's 2012 growth target from 8% to 7.5%. While such growth would be the envy of most nations, China's economy has grown at an average rate of about 10% each year for the past 30 years. This has helped propel China to become the world's second largest economy, just behind that of t...

Imran Khan with his sons  Sulaiman Isa and Kasim Imran Khan is the world famous cricketer and now also politician born on 25 November 1952 in Pakistan. He played international cricket for two decades in the late twentieth century and, after retiring, entered politics. Besides, his political activism, Khan is also a philanthropist, cricket commentator, Chancellor of the University of Bradford and Founding Chairman Board of Governors of Shaukat Khanum Memorial Cancer Hospital & Research Centre. Imran Khan batting He was Pakistan's most successful cricket captain, leading his country to victory at the 1992 Cricket World Cup, playing for the Pakistani cricket team from 1971 to 1992, and serving as its captain intermittently throughout 1982–1992. After retiring from cricket at the end of the 1987 World Cup in 1988, due to popular public demand he was requested to come back by the president of Pakistan to lead the team once again. At 39, Khan led his team to Pakistan...

Aaron Swartz, an Internet savant who at a young age shaped the online era by co-developing RSS and Reddit and later became a digital activist, has committed suicide.  Swartz's body was found Friday evening in Brooklyn, said Ellen Borakove, a spokeswoman with the New York medical examiner's office. The 26-year-old had hanged himself in his apartment. His family and partner said they were "in shock, and have not yet come to terms with his passing." "Aaron's insatiable curiosity, creativity, and brilliance; his reflexive empathy and capacity for selfless, boundless love; his refusal to accept injustice as inevitable -- these gifts made the world, and our lives, far brighter," they said in a statement. "We're grateful for our time with him, to those who loved him and stood with him, and to all of those who continue his work for a better world."  A prodigy, Swartz was behind some of the Internet's defining moments, soaring to h...

South Korea has increased its budget to fund North Korea-related projects this year, government data showed on Thursday, with a new president seeking closer relations due to take office in Seoul and signs of an opening from Pyongyang. South Korea's Ministry of Unification said parliament had approved a 9.1 percent rise in the inter-Korean cooperation fund this year to 1.1 trillion won ($1.03 billion). "The last offer for talks we made to North Korea was last summer, when the North was suffering from flood damage," said Park Soo-jin, a spokeswoman for the ministry. The two Koreas remain technically at war after their 1950-53 conflict ended with a truce, not a treaty, and relations plunged under South Korean President Lee Myung-bak who cut aid dramatically after the shooting of a South Korean tourist in the North in 2008.  Lee's single term ends in February when he will be replaced by Park Geun-hye, who has pledged engagement with the isolated and impoveri...

Social games publisher Zynga Inc confirmed on Monday that it has carried out 11 of the planned shutdowns of 13 game titles, with "Petville" being the latest game on which it pulled the plug.  Zynga in October said it would shut down 13 under-performing titles after warning that its revenues were slowing as gamers fled from its once-popular titles published on the Facebook platform in large numbers and sharply revised its full-year outlook.  The San Francisco-based company announced the "Petville" shutdown two weeks ago on its Facebook page. All the 11 shutdowns occurred in December. The 11 titles shut down or closed to new players include role-playing game "Mafia Wars 2," "Vampire Wars," "ForestVille" and "FishVille."  "In place of 'PetVille,' we encourage you to play other Zynga games like 'Castleville,' 'Chefville,' 'Farmville 2,' 'Mafia Wars' and 'Yoville,...

Apple Inc has started testing a new iPhone and the next version of its iOS software, news website The Next Web reported. The company's shares rose as much as 4.3 percent but eased a little to trade up 3 percent at $546.11 by mid-day on the Nasdaq. Application developers have found in their app usage logs references to a new iPhone identifier, iPhone 6.1, running iOS 7 operating system, the website reported. Apple's iPhone 5 bears the identifiers "iPhone 5.1" and "iPhone 5.2" and is powered by the iOS 6 operating system. Developer logs show that the app requests originate from an internet address on Apple's Cupertino campus, suggesting that Apple engineers are testing compatibility for some of the popular apps, the website said. "Although OS and device data can be faked, the unique IP footprint leading back to Apple's Cupertino campus leads us to believe this is not one of those attempts," the website said. Raymond James analyst...

The government of Bangladesh has hiked the fuel prices of the country on the 3rd day of new year. Petrol and octane prices by Tk 5 per litre setting new prices at   Tk 96 and  Tk 99. Besides,  diesel and kerosene prices were up for Tk 7 setting new prices at  Tk 68 for the both items.   The prices would be effective from Thursday midnight, it said in a media statement at night.  The opposition BNP on Dec 26 threatened country wide general strike a day after the fuel prices were further increased.  But the opposition's reaction could not be known immediately after the fresh increase in the fuel oil costs.