Source: Guardian Author: Paul Harris The fire alarm goes off as Michael Lewis descends in the lift from his hotel room. As a security guard warns nervous-looking guests that the screaming sound was not a drill, it seemed the perfect introduction for a man whose new book about Europe’s debt crisis […]
The Nobel prize in economic science was awarded Monday to Thomas J. Sargent at New York University and Christopher A. Sims at Princeton University for their research looking at the cause-and-effect relationship between economic policy and the broader economy. Their work uses statistical analysis to disentangle the question of whether […]
By ARAB NEWS RIYADH: Vice President of the Jeddah Chamber of Commerce and Industry’s industrial committee Ulfat Gabbani has urged more women to enter the industrial sector, which she said was the second-highest contributor to national income after petrol. In a working paper titled “Women’s Industrial Investment … a Promising […]
Regulators in the United States and overseas are cracking down on computerized high-speed trading that crowds today’s stock exchanges, worried that as it spreads around the globe it is making market swings worse. The cost of these high-frequency traders, critics say, is the confidence of ordinary investors in the markets, […]
American companies are adding jobs slowly and unevenly, just enough to plug the dike against a wave of fears that the economy could slip back into recession. But with a ballooning European debt crisis sending ripples across the Atlantic and anxiety continuing over the tortured political landscape here, there is […]
by Alexander Kuenzle, swissinfo.ch Germans often wonder why they are considered arrogant in Switzerland, when they say all they want to do is to express themselves clearly. To help overcome misperceptions, the state-owned power company in canton Bern, BKW, has organised integration courses for the many Germans it has hired […]
By BRADLEY KLAPPER BLOOMBERG BUSINESS WEEK SANTO DOMINGO, Dominican Republic The Obama administration warned the U.N. cultural agency to stay out of the question of Palestinian statehood or face the consequences, as American lawmakers were threatening to withhold tens of millions of dollars in U.S. funding if the organization agrees […]
NEW YORK (CNNMoney) — Just when states thought their tax revenues were finally on the mend… The looming specter of Recession 2.0 has forced several states to lower their estimates for revenue growth this fiscal year, just as many had finally started to see their tax collections rebound. But new […]
Steven P. Jobs, the visionary co-founder of Apple who helped usher in the era of personal computers and then led a cultural transformation in the way music, movies and mobile communications were experienced in the digital age, died Wednesday. He was 56. The death was announced by Apple, the company […]
PARIS — The European debt problems that have roiled global financial markets for the last 18 months are showing signs of turning into a far deeper challenge: Europe’s second recession in three years. Greece, Ireland, Portugal and Spain are already in downturns or fighting to avoid them, as high unemployment […]
DETROIT — General Motors, Ford Motor and Chrysler on Monday said their sales in the United States rose last month, signaling that the auto industry was a bright spot amid the nation’s economic uncertainty. Chrysler reported the biggest gain, 27 percent, while G.M. sales were up 20 percent and Ford’s […]
The Swiss government is hosting Indian President Pratibha Patil in the capital Bern for talks on boosting bilateral relations, including financial and research cooperation. During the two-day visit Patil will be received by the entire cabinet, including President and Foreign Minister Micheline Calmy-Rey, and will travel to the Lake Geneva […]
Source / Courtesy: Wall Street Journal LEHIGH ACRES, Fla.—Joseph Reilly lost his vacation home here last year when he was out of work and stopped paying his mortgage. The bank took the house and sold it. Mr. Reilly thought that was the end of it. In June, he learned otherwise. […]
By P.K. ABDUL GHAFOUR | ARAB NEW JEDDAH: The Labor Ministry intends to launch 30 new initiatives as part of its ongoing efforts to create jobs for the increasing number of Saudi university graduates, Labor Minister Adel Fakeih announced Saturday. Addressing prominent businessmen and executives in the city, he said […]
The international press reported that in August the Netherlands paid to the World Health Organization one hundred million Euros taken from confiscated ‘Ghadaffi Funds’ Approximately two month later a visit to the Ministry of Health warehouse in Benghazi showed no sign of WHO medicines. Donations of medicines had reached from […]
BERLIN — The German Parliament easily approved the expansion of the bailout fund for heavily indebted European countries Thursday, the most important step in a tortuous process that has rattled markets and raised doubts about the ability of governments to react to the expanding debt crisis. The tally also marked […]
BY OMAR OBEIDAT, JORDAN TIMES AMMAN –– Jordan and the US on Wednesday signed five grant agreements worth $359.3 million. The grants, presented by the United States Agency for International Development (USAID), will support various sectors, including the budget, education, health and economic development in addition to a plan to […]
Statement on BBC News channel interview with trader Alessio Rastani Date: 27.09.2011 The BBC have today issued the following statement regarding an interview with trader Alessio Rastani on the BBC News channel yesterday (Monday 26 September): “We’ve carried out detailed investigations and can’t find any evidence to suggest that the […]
WASHINGTON — New orders for long-lasting manufactured goods by American companies slipped in August on weak demand for motor vehicles, government data showed on Wednesday, but a rebound in a gauge of business spending supported views the economy could avoid another recession. The Commerce Department said durable goods orders dipped […]
by Matthew Allen, swissinfo.ch The global economy is set for a dose of normality in the second half of 2012, forming the springboard for a sustained recovery, a leading economist has predicted. But Switzerland will still have to endure a winter of hardship before the financial markets finally realise that […]