Fitch downgrades ratings of five EU nations
January 28th, 2012 - 6:44 am ICT by IANS
Moscow, Jan 28 (IANS/RIA Novosti) International ratings agency Fitch has downgraded its sovereign credit ratings of Belgium, Cyprus, Italy, Spain and Slovenia.Ratings of Italy and Spain, two Eurozone economic heavyweights, ... Read more...
Posted in Business |
South Korea’s foreign reserves shrink to $308 bn
December 2nd, 2011 - 3:55 pm ICT by IANS
Seoul, Dec 2 (IANS) South Korea's foreign reserves contracted to $308.63 billion last month due to a reduction in conversion value of non-dollar denominated assets, the central bank said Friday.Foreign ... Read more...
Posted in Business |
US loses ’stable’ outlook from top agencies
November 29th, 2011 - 12:35 pm ICT by IANS
Washington, Nov 29 (IANS) The US has lost its last stable outlook from the three top credit-ranking companies withFitch Ratings affirming its top-notch AAA credit rating but lowering the outlook ... Read more...
Posted in Business |
Putin calls US ‘hooligans’ for printing excess money
July 11th, 2011 - 9:52 pm ICT by IANS
Moscow, July 11 (IANS/RIA Novosti) Russian Prime Minister Vladimir Putin Monday accused the US of hooliganism over the American government's efforts to ease its financial problems by reportedly injecting billions ... Read more...
Posted in World |
India warns rising oil prices could hit global recovery
April 17th, 2011 - 12:45 pm ICT by IANS
Washington, April 17 (IANS) India Saturday warned that the global recovery from the worst financial crisis in decades may be jeopardised by a sustained rise in oil prices and speculative ... Read more...
Posted in Business |
BRICS leaders call for reforms in international monetary system
April 14th, 2011 - 2:28 pm ICT by ANI
Sanya, Apr 14 (ANI): Recognizing that the international financial crisis has exposed the inadequacies and deficiencies of the existing international financial system, leaders of BRICS countries called for reform and improvement of ... Read more...
Posted in World |
Rising trade deficit with China a matter of concern: Anand Sharma
April 13th, 2011 - 11:19 am ICT by ANI
Sanya, Apr 13 (ANI): Commerce Minister Anand Sharma, who is part of a high level delegation that is accompanying Prime Minister Manmohan Singh to the BRICS summit being held in China, ... Read more...
Posted in World |
BRICS to sign unique pact at Sanya to use own currencies for lending and grants
April 13th, 2011 - 2:29 am ICT by ANI
Sanya (China), Apr 12 (ANI): In what could be seen as signal of its growing clout in world economy , the group of fastest growing economies -- Brazil, Russia, India, China ... Read more...
Posted in South Asia |
Local currencies to replace dollar for BRICS credit
April 13th, 2011 - 12:17 am ICT by IANS
On board Air India One, April 12 (IANS) In a first of its kind, BRICS nations - Brazil, Russia, India, China and South Africa - will sign a major ... Read more...
Posted in World |
China looking for common ground with US: President Hu
January 17th, 2011 - 12:36 pm ICT by ANI
Beijing, Jan.17 (ANI): China will seek to find common ground with the United States in a bid to resolve existing bilateral disputes, said President Hu Jintao ahead of his visit to Washington ... Read more...
Posted in World |
Gold emerges as a safe haven for investors (Comment-Lead, superseding previous story)
December 15th, 2009 - 1:05 pm ICT by IANS
By Sushma Ramachandran
With gold prices hitting new highs, the glitter just gets brighter each day. The phenomenal rise in the value of the yellow metal has been a by-product of the global ... Read more...
Posted in Business |
Gold emerges safe haven for investors (Comment)
December 15th, 2009 - 12:12 pm ICT by IANS
By Sushma Ramachandran
Gold is glittering more brightly every passing day with prices of the yellow metal literally going through the roof. The phenomenal rise in the value of gold has been ... Read more...
Posted in Business |
No substitute for US dollar: Manmohan Singh
November 23rd, 2009 - 8:34 am ICT by IANS
Washington, Nov 23 (IANS) Describing the downturn in the US economy as a
"temporary setback," Prime Minister Manmohan Singh has said there was nosubstitute to the US dollar for replacement as the ... Read more...
Posted in Business |
Yuan as new global currency? It can bode well for India (Comment)
November 15th, 2009 - 2:56 pm ICT by IANS
By Sushma Ramachandran
The fact that World Bank President Robert Zoellick has said that China's yuan may become the global reserve currency over the next 15 years assumes significance not just for the ... Read more...
Posted in Business |
China’s yuan can be alternative reserve currency in 15 years
November 12th, 2009 - 6:56 am ICT by IANS
Singapore, Nov 12 (IANS) World Bank President Robert Zoellick has said in 15 years the Chinese yuan can become an alternative to US dollar as a global reserve currency, with China's fast ... Read more...
Posted in Business |
India goes bullish on gold, sees a dim dollar future: Forbes
November 4th, 2009 - 9:22 pm ICT by IANS
By Arun Kumar
Washington, Nov 4 (IANS) India's purchase of $6.7 billion worth of gold from the International Monetary Fund (IMF) is a pointer that New Delhi sees a dim future for the ... Read more...
Posted in Business |
China calls for reform of global monetary system
July 10th, 2009 - 8:53 am ICT by IANS
Rome, July 10 (Prensa Latina) China has called on the group of eight industrialised nations (G8) to take steps to steady the exchange rate.
It also proposed the creation of a new international ... Read more...
Posted in Business |
Obama, Manmohan cozy up at G8-G5 summit
July 9th, 2009 - 10:55 pm ICT by ANI
L'aquila, July 9 (ANI): US president Barack Obama and Indian Prime Minister Manmohan Singh cozied up to each other at a summit of the G8-G5 groupings at L'Aquila in Italy on ... Read more...
Posted in World |
G8 and G5 leaders meet in Italy
July 9th, 2009 - 9:42 pm ICT by ANI
L'AQUILA, July 9 (ANI): Leaders of the world's richest nations and major developing powers met on Thursday (July 9) to discuss global issues on the second day of a G8 summit ... Read more...
Posted in World |
Brazil wants G5 to settle trade accounts with own currency
July 9th, 2009 - 7:22 pm ICT by IANS
By Jaideep Sarin
L'Aquila (Italy), July 9 (IANS) Brazil has asked G5 countries to explore the possibility of using their own currency to settle trading accounts amongst themselves.The suggestion was made by ... Read more...
Posted in Business |
G-5 mulls alternative currencies for trade
July 9th, 2009 - 12:25 pm ICT by ANI
By Naveen KapoorL' Aquila (Italy), July 9 (ANI): Indian Foreign Secretary Shivshankar Menon on Wednesday said the Group of Five major developing economies meeting in Italy deliberated over the use ... Read more...
Posted in World |
Prime Minister to leave for Italy to attend G-8 Summit
July 7th, 2009 - 12:05 pm ICT by ANI
New Delhi, July 7 (ANI): Prime Minister Dr. Manmohan Singh will leave for Italy this afternoon to attend the G-8 Summit in L'Aquila.During his four-day visit, Dr. Singh is expected to ... Read more...
Posted in National |
Experts suggest annual BRIC summit and democratisation of IMF-Part III
May 15th, 2009 - 6:44 pm ICT by ANI
Financial Crisis and the New Global Financial Architecture14. The BWI and IFI must be urgently overhauled and reformed. The current 'Voice and Vote' in the multi-lateral institutions do not provide an equitable ... Read more...
Posted in National |
China, EU seek to deepen cooperation
March 31st, 2009 - 12:04 am ICT by IANS
Beijing, March 30 (DPA) China and the European Union plan to patch up recent turbulence over Tibet and deepen their cooperation this year to tackle global problems, a top EU diplomat said ... Read more...
Posted in Business |
Russia to call for new reserve currency at G20
March 31st, 2009 - 12:04 am ICT by IANS
Moscow, March 30 (RIA Novosti) Russia will insist at the upcoming G20 summit in London that discussions are initiated into the possibility of creating a new world reserve currency, a Kremlin ... Read more...
Posted in Business |
Nobel Laureate calls for new global reserve currency system
March 27th, 2009 - 1:08 pm ICT by IANS
United Nations, March 27 (Xinhua) Nobel Prize-winning economist Joseph Stiglitz has called for a new global system to replace the US dollar as the world's reserve currency.
"There is a growing consensus ... Read more...
Posted in World |
US stocks climb on gains in durable goods, home sales
March 26th, 2009 - 6:19 am ICT by IANS
New York, March 26 (DPA) US stock indices made gains Wednesday after government figures showed demand is rising for long-lasting goods and housing.
Durable goods orders increased 3.4 percent in February, and purchases ... Read more...
Posted in Business |
Obama for cutting health care costs to face India, China challenges
March 25th, 2009 - 10:10 pm ICT by IANS
By Arun Kumar
Washington, March 25 (IANS) President Barack Obama wants to reduce health care and energy costs to lessen the massive national debt lest India and China overtake a recession hit ... Read more...
Posted in Business |
US rejects China’s call for a global currency
March 25th, 2009 - 4:14 am ICT by IANS
Washington, March 25 (DPA) US officials Tuesday rejected calls from China and Russia for the international community to shift towards a global reserve currency that could replace the dollar.
At a congressional hearing ... Read more...
Posted in Business |
Create super-sovereign reserve currency: Chinese bank official
March 24th, 2009 - 1:12 pm ICT by IANS
Beijing, March 24 (Xinhua) Zhou Xiaochuan, governor of China's central bank, has proposed to create a super-sovereign reserve currency as part of reform in the international monetary system.
The desirable goal of the ... Read more...
Posted in World |
Medvedev calls for rewriting of global financial system
November 5th, 2008 - 9:22 pm ICT by IANS
Moscow, Nov 5 (DPA) Russian President Dmitry Medvedev called for a radical reform to the global financial order Wednesday, saying the United States has become the affliction and could no longer provide ... Read more...
Posted in Business |
Turning ruble into regional currency a strategic objective: Medvedev
June 25th, 2008 - 3:49 pm ICT by IANS
RIA Novosti
Moscow, June 25 (RIA Novosti) Russian President Dmitry Medvedev Wednesday said turning the Russian ruble into a regional reserve currency was an important strategic objective. "In a period of global financial ... Read more...
Posted in World |
Russia draws plans to make Moscow global financial hub
June 8th, 2008 - 5:24 pm ICT by IANS
RIA Novosti
St. Petersburg, June 8 (RIA Novosti) Plans to make the Russian capital a global financial hub will be drawn up in the next few weeks and presented to the leadership, a ... Read more...
Posted in Business |
US treasury secretary defends dollar as world’s reserve currency
June 3rd, 2008 - 11:20 am ICT by IANS
Abu Dhabi, June 3 (IANS) US Treasury Secretary Henry Paulson has defended the dollar's status as the world's reserve currency and said that despite challenges at home and internationally, the US currency ... Read more...
Posted in Uncategorized |
