China is watching nervously as the United States and Europe scramble to deal with their debt crises, fully conscious that economic events on both sides of the Atlantic play an important role in the country’s own economic prospects. There is little doubt there are concerns in China about potential knock-on […]
LONDON — Ever since Lehman Brothers collapsed nearly three years ago, Europe’s leaders have repeatedly vowed to prevent any major European bank from failing. But as bank shares plummeted this week, the question on investors’ minds was not whether governments would rescue their banks if necessary. It was how much […]
Five years of a pure neo-liberal regime had made Iceland, (population 320 thousand, no army), one of the richest countries in the world. In 2003 all the country’s banks were privatized, and in an effort to attract foreign investors, they offered on-line banking whose minimal costs allowed them to offer […]
NEW YORK (CNNMoney) — The risk of double dip recession is rising. And while economists disagree on just how likely the U.S. economy is to fall into another downturn, they generally agree on one thing — a new recession would be worse than the last and very difficult to pull […]
Source / Courtesy: Yahoo News NEW YORK (CNNMoney) — The Federal Reserve painted a much gloomier picture of the economy Tuesday, and indicated it would keep cash cheap and easy for at least two more years. Following its fifth policymaking meeting of the year, the central bank also surprised Wall […]
By ROGER HARRISON | ARAB NEWS ‘A society grows great when old men plant trees whose shade they know they shall never sit in.’ The national symbol of Saudi Arabia — the desert Kingdom, to use the hackneyed media phrase — is a date palm. It is through a single […]
WASHINGTON — The Federal Reserve is back in the spotlight, with investors anxiously wondering if the central bank will end a two-month hiatus and announce new measures to support the economy on Tuesday. Under its chairman, Ben S. Bernanke, the Fed has pushed the boundaries of its authority and defied […]
BEIJING, Aug. 9 (Xinhua) — China’s inflation accelerated to a 37-month high in July, putting the government in a tough position as its tightening efforts have yet to bear fruit. Worsening global liquidity is also likely to bring more uncertainties for the Chinese economy. Read More
The Local, Switzerland The number of overnight stays last year at Swiss B&Bs increased by 9.3 per cent compared to 2009, exceeding expectations, said the Bed and Breakfast Switzerland association. The increase is mainly due to Swiss guests, but also on the rise were visits from German tourists. “More and […]
Jordan Times. TEHRAN (AFP) – Gas- and oil-rich Iran has discovered another gas field with reserves of 495 billion cubic metres valued at $133 billion, the oil ministry’s SHANA news service quoted an oil official as saying on Monday. “The new gas field has in spot reserves of about 495 […]
Source: The Economist A RITUAL familiar to students of the subprime and euro crises has started taking place on Indian banks’ conference calls with analysts and investors. The number-crunchers probe the lenders about their exposures to potential bad debts. Bank bosses insist that, although there are niggles, all is under […]
Source/Credit: Project Syndicate, 2011, www.project-syndicate.org. 2011-08-04: By Amar Bhidé and Edmund S. Phelps NEW YORK – The Greek debt crisis has prompted questions about whether the euro can survive without a nearly unimaginable centralization of fiscal policy. There is a simpler way. Irresponsible borrowing by governments in international credit markets requires irresponsible lending. Bank regulators […]
Everett, Washington (CNN) — The Boeing 787 Dreamliner sparkled Saturday in rare Pacific northwest sunshine as the plane made its long-awaited debut. Three years overdue and billions of dollars over the budget, Boeing will finally deliver the 787 Dreamliner to Japan’s All Nippon Airways next month in Tokyo. Read more
Marsa Zayed envisions a marina development with room for 300 yachts and a cruise ship terminal all surrounded by a mixture of hotel, resort and luxury apartment complexes. The entire project is slated for completion in several years time, when Jordan first signed the development deal with Al Mabaar, a […]
Employers added more jobs than forecast in July, the jobless rate fell and wages climbed, easing concern the U.S. economy is grinding to a halt. Payrolls rose by 117,000 workers after a 46,000 increase in June that was more than originally estimated, Labor Department data showed today in Washington. The […]
Courtesy / Source: The Express Tribune By Dr Asad Zaman Throughout history, men have been honoured for wisdom, courage, honesty, generosity and nobility, but not for mere possession of money. Early in the 20th century, some sought to construct a brave new world by reversing these traditional values. One group argued that […]
After Ramadan will come Eid. Everyone looks forward to wear new clothes… therefore, get ready…
source:asiatimes on line recently questioned conventional wisdom as to the relationship between the US Treasury and the Federal Reserve Bank, and indeed the very basis of the dollar itself. (See A very secret agent (Asia Times Online, July 27, 2011). Comments poured in, and the subsequent discussion and debate has […]
NEW YORK (Reuters) – Private employers added more jobs than expected in July, though less than in June, but planned layoffs rose to a 16-month high, according to separate surveys on Wednesday. The data comes ahead of the U.S. government’s key jobs report on Friday, which is forecast to show […]
As the negotiations about the debt ceiling in USA run the final lap, many important long term issues remain unanswered. The Western economic system has yielded wonderful results in developing science and technology in the last two to three centuries. However, in the last few years, some of its vulnerabilities are being exposed. No economist can […]