Some Emiratis glad Dubai’s ambitious plans dented
Dubai nationals were alarmed by the fallout from the emirate’s debt standstill, but many hope the crisis may stem the torrent of foreigners into the conservative Gulf Arab city, where locals are outnumbered ten to one. The freewheeling emirate, one of seven that form the United Arab Emirates, sent jitters through global markets last week […]
Siemens settles case with von Pierer – sources
Siemens AG has struck a deal with former Chairman Heinrich von Pierer on payments for part of costs of a corruption case, paving the way for an amicable ending to the biggest bribery scandal in the country. Two sources familiar with the matter told reporters on Tuesday that Siemens has agreed to reduce the amount […]
Strauss-Kahn keeps France guessing on presidency
If Dominique Strauss-Kahn is tempted to make an early exit from the International Monetary Fund to run for president of France, he will have found plenty of encouraging signs during a stay in Paris this week. The next election is not until 2012 and Strauss-Kahn would have many hurdles to overcome before even getting his […]
Uganda poised to become top-50 oil producer
A deal last week has brought Uganda a step closer to becoming a significant oil producer, offering billions of dollars of fresh investment to develop newly discovered oilfields. Italian energy giant Eni said on Monday it had agreed to buy a stake in two large oil exploration blocks in Uganda for up to $1.5bn. For […]
Honduras coup tensions take toll on economy
Business was bad in Honduras even before the president was ousted in a June coup, unleashing months of political turmoil that have deepened the impoverished country’s economic woes. Honduras was already suffering from the recession in the US, its top trade partner, due to slack demand for its key clothing exports and a plunge in […]
US coal industry stakes survival on carbon capture
A looming government clampdown on CO2 emissions is about to confront an already embattled US coal power industry with two stark options: capture carbon or die. Legislation from Congress or tough new regulatory demands could make it costly to spew greenhouse gases, posing a serious threat to the nation’s coal-fired power plants. With coal the […]
Instant warm-up: InstaForex Award
As a result of the upsurge in interest there are more and more companies interested in Forex, all the more under the conditions of the world financial crisis, as many other financial market segments at best stand as “air bags” and at worst, as high risk ventures. New players in the Forex market are not […]
Market insider
Equities find positive territoryMost G20 bourses closed up in positive territory at the end of Q3. The FTSE 100 went up 21 percent. Between July and September 2009 it rose a number of times, particularly during August when it was reported to have climbed by 8.4 percent over the course of the year, having rallied […]
Walked in line: How JP lost and found its roots
It’s amazing what a difference a couple of dots can make to a bank’s image. As today’s post-meltdown banks rush to remind nervous clients of their stability, one of the global banking giants has gone back to its heritage to do so. Having taken a long look at what customers really want in a bank, […]
Don’t leave home without it
Credit card delinquency figures bring to mind the rock classic “You Ain’t Seen Nothing Yet.” Since last July’s record report – delinquencies jumped to 6.6 percent of all card debt in the first quarter from 5.52 percent – the peak may still be far off. The sunniest forecast in the Obama administration’s stress test suggested […]
