global financial crisis

Azerbaijan buys 10 tonnes of gold


September 19th, 2012 - 1:16 pm ICT by IANS
Baku, Sep 19 (IANS) The Azerbaijan State Oil Fund has bought 10 tonnes of gold to increase the diversification and profitability of its investment portfolio, the Fund's CEO Shakhmar Movsumov ... Read more...

Posted in Business |

Federal Reserve to pump more liquidity into US economy


September 14th, 2012 - 1:31 pm ICT by IANS
Washington, Sep 14 (IANS/EFE) The US Federal Reserve Thursday announced further steps to stimulate a struggling economy and pledged to keep short-term interest rates at near zero until 2015.At the ... Read more...

Posted in Business |

Actors can’t earn millions right now, says Pitt


September 12th, 2012 - 4:59 pm ICT by IANS
Los Angeles, Sep 12 (IANS) Actor Brad Pitt says Hollywood doesn't have the cash to splash on its big stars at the moment due to the global financial crisis.When ... Read more...

Posted in Entertainment |

Government trying to protect Indian economy from global mess: PM


September 7th, 2012 - 6:33 pm ICT by IANS
New Delhi, Sep 7 (IANS) The Indian economy is passing through a difficult time but the government is trying to protect it from the global economic mess, Prime Minister ... Read more...

Posted in Business |

Russia prepared for second global crisis: Putin


September 7th, 2012 - 9:03 am ICT by IANS
Moscow, Sep 7 (IANS/RIA Novosti) Russia is better prepared for a second global financial crisis, President Vladimir Putin has said."I believe we are even better prepared because we've already experienced ... Read more...

Posted in World |

Saab to roll out electric cars


September 4th, 2012 - 1:26 pm ICT by IANS
Beijing, Sep 4 (IANS) Bankrupt Swedish carmaker Saab plans to roll out new electric cars in 18 months, its buyer National Electric Vehicle Sweden (NEVS) said. NEVS, wholly owned by ... Read more...

Posted in Business |

Spanish government approves `bad bank’ for toxic assets


September 1st, 2012 - 3:07 pm ICT by IANS
Madrid, Sep 1 (IANS/EFE) Spain's government has approved a new financial sector overhaul required by Brussels as a part of a bank-rescue programme, creating an asset-management agency - or "bad ... Read more...

Posted in Business |

Raghuram Rajan takes over as Chief Economic Advisor


August 29th, 2012 - 3:55 pm ICT by IANS
New Delhi, Aug 29 (IANS) Raghuram G Rajan, former IMF chief economist, took charge as chief economic adviser (CEA) in the finance ministry Wednesday."I am glad to be here," ... Read more...

Posted in Business |

Bring in GST, DTC to spur growth, India Inc tells government


August 27th, 2012 - 6:13 pm ICT by IANS
Bangalore, Aug 27 (IANS) India Inc Monday urged the government to introduce the Goods and Services Tax (GST) and Direct Tax Code (DTC) to spur economic growth, which has been ... Read more...

Posted in Business |

South Korean conglomerates see economy worse than 2008


August 22nd, 2012 - 1:17 pm ICT by IANS
Seoul, Aug 22 (IANS) A majority of South Korean conglomerates were seeing current economic conditions worse than those in 2008 when the global financial crisis occurred, a poll showed Wednesday.According ... Read more...

Posted in Business |

Lack of consensus affecting economic growth: PM


August 15th, 2012 - 9:11 am ICT by IANS
New Delhi, Aug 15 (IANS) Lack of political consensus on many issues is affecting India's rapid economic growth, Prime Minister Manmohan Singh said Wednesday.Addressing the nation on India's independence ... Read more...

Posted in Politics |

Belgium backs India for NSG, hopeful of India-EU trade pact (Lead)


August 8th, 2012 - 10:21 pm ICT by IANS
New Delhi, Aug 8 (IANS) Backing India's membership of the elite Nuclear Suppliers Group (NSG), Belgium Wednesday agreed to cooperate with this country in the field of nuclear research and ... Read more...

Posted in Business |

Belgium hopeful of India-EU trade pact by 2013 summit


August 8th, 2012 - 9:16 pm ICT by IANS
New Delhi, Aug 8 (IANS) Belgium Wednesday expressed hope that India and the 27-nation European Union should be able to seal a free trade agreement at their 2013 ... Read more...

Posted in Uncategorized |

Aircraft manufacturer Hawker Beechcraft to lay off 170 people


August 4th, 2012 - 1:41 am ICT by BNO News
LITTLE ROCK, ARKANSAS (BNO NEWS) -- Aircraft manufacturer Hawker Beechcraft on Thursday said it plans to cut 170 jobs at its completion center in Arkansas, coming just weeks after the company entered ... Read more...

Posted in Business |

Chidambaram assumes charge of finance


August 1st, 2012 - 7:58 pm ICT by IANS
New Delhi, Aug 1 (IANS) Palaniappan Chidambaram Wednesday took charge of the finance ministry after a gap of nearly four years, raising expectations that he would take steps to ... Read more...

Posted in Uncategorized |

China’s urban unemployment rate reaches 4.1 percent


July 25th, 2012 - 1:29 pm ICT by IANS
Beijing, July 25 (IANS) China's urban registered unemployment rate stood at 4.1 percent at the end of June, authorities said Wednesday.The rate remained unchanged from the first quarter of 2012, ... Read more...

Posted in Business |

Chinese premier warns of `complicated, grim’ job situation


July 23rd, 2012 - 1:11 pm ICT by IANS
Beijing, July 23 (IANS) Premier Wen Jiabao has warned of new employment pressures amid China's economic slowdown, saying the country will face a more complicated and more severe situation in ... Read more...

Posted in Business |

De Beers to reduce diamond production


July 21st, 2012 - 1:25 pm ICT by IANS
Chennai, July 21 (IANS) South African diamond mining major De Beers will produce 28-30 million carats of rough diamond in 2012, lower than last year's production of 31.3 million carats, ... Read more...

Posted in Business |

China’s growth at its three year low


July 13th, 2012 - 12:19 pm ICT by IANS
Beijing, July 13 (IANS) Chinese economy has recorded the lowest growth since 2009, amid concerns over slowdown of the world's second-largest economy.China's economy reported 7.6 percent of growth in the ... Read more...

Posted in Business |

South Korean central bank cuts policy rate (Lead)


July 12th, 2012 - 2:19 pm ICT by IANS
Seoul, July 12 (IANS) Bank of Korea (BOK), South Korea's central bank, unexpectedly cut its benchmark interest rate to 3 percent Thursday, lowering the 7-day repo rate for the first ... Read more...

Posted in Business |

South Korean central bank cuts key interest rate


July 12th, 2012 - 2:00 pm ICT by IANS
Seoul, July 12 (IANS) Bank of Korea (BOK), South Korea's central bank, unexpectedly cut its benchmark interest rate to 3 percent Thursday, lowering the 7-day repo rate for the first ... Read more...

Posted in Business |

India will soon be back on high growth path: Chidambaram


July 10th, 2012 - 10:24 pm ICT by IANS
Bangalore, July 10 (IANS) India would soon return to high growth path soon in light of several measures being taken by the United Progressive Alliance (UPA) government to reboot the ... Read more...

Posted in Politics |

China’s June export growth slows


July 10th, 2012 - 4:10 pm ICT by IANS
Beijing, July 10 (IANS) China's exports rose 11.3 percent year on year to $180.21 billion in June, slowing from the 15.3-percent spurt in May, authorities said Tuesday.Imports increased 6.3 percent ... Read more...

Posted in Business |

FDI into South Africa soars


July 9th, 2012 - 10:59 pm ICT by IANS
Pretoria, July 9 (IANS) South Africa led the sub-region as foreign direct investment (FDI) inflows into sub-Saharan Africa jumped by 25 percent in 2011, according to the 2012 World Investment ... Read more...

Posted in Business |

`Europe’s debt crisis to be prolonged’


July 6th, 2012 - 2:07 pm ICT by IANS
Seoul, July 6 (IANS) Europe's debt crisis has the nature of protracting and consistently existing due to the failure to tackle the region's fundamental structural problems, South Korea's finance minister ... Read more...

Posted in Business |

No short-term solution to economic crisis: Brazil


July 5th, 2012 - 3:29 pm ICT by IANS
Rio De Janeiro, July 5 (IANS) There is no short-term solution to the current global economic woe, which is no less serious than the 2008 global financial crisis, said Brazilian ... Read more...

Posted in Business |

World Bank must help tackle global growth risks: New chief


July 3rd, 2012 - 1:41 pm ICT by IANS
Washington, July 3 (IANS) The World Bank has an economic and moral imperative to help address risks to global growth, no matter where they emerge, new World Bank group president ... Read more...

Posted in Business |

Committed to ‘one country, two systems’, says China


July 2nd, 2012 - 12:00 am ICT by IANS
Hong Kong, July 1 (IANS) President Hu Jintao has said that the Chinese government remains committed to the principles of "one country, two systems", "Hong Kong people administering Hong ... Read more...

Posted in Politics |

India, Germany to discus Eurozone crisis, Afghanistan


June 21st, 2012 - 4:03 pm ICT by IANS
New Delhi, June 21 (IANS) With the global financial crisis deepening, India and Germany will Friday discus the developments in the Eurozone, the fragile security situation in Afghanistan and the ... Read more...

Posted in Business |

Earth Summit opens in Brazil


June 20th, 2012 - 10:08 pm ICT by IANS
Rio De Janeiro, June 20 (IANS) The UN Conference on Sustainable Development opened here Wednesday with world leaders meeting to renew political commitment to tackle economic, social and environmental problems.... Read more...

Posted in Environment |

BRICS nations explore options to protect currencies


June 19th, 2012 - 9:03 am ICT by IANS
Los Cabos (Mexico), June 19 (IANS) India, Brazil, Russia, China and South Africa Monday explored mechanisms, such as swap arrangement and a reserve fund. to protect their currencies against ... Read more...

Posted in Business |

Reselling the India story: road shows kick off in the Gulf


June 9th, 2012 - 9:52 pm ICT by IANS
Dubai/New Delhi, June 9 (IANS) Road shows highlighting India's growth potential to attract sovereign funds and other investors kicks off in five Gulf countries of Saudi Arabia, the United Arab ... Read more...

Posted in Business |

IMF chief seeks integrated action to fix financial system


June 9th, 2012 - 1:31 pm ICT by IANS
Washington, June 9 (IANS) The head of the International Monetary Fund has called for further action to reform the global financial system by strengthening crisis management tools and the overall ... Read more...

Posted in Business |

George W. Bush voted most unpopular former US president


June 8th, 2012 - 8:17 pm ICT by IANS
London, June 8 (IANS) George W. Bush has been voted the most unpopular living former president of the US.Bush - born July 6, 1946 - was the 43rd president of ... Read more...

Posted in Politics |

India to achieve $500 billion exports target


June 8th, 2012 - 4:45 pm ICT by IANS
New Delhi, June 8 (IANS) India is on course to increase exports to $500 billion in 2013-14 from around $300 billion in the last fiscal, helped by market and product ... Read more...

Posted in Business |

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