Browsing Category News
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Greek bank chief sends savings overseas
With the financial crisis engulfing the Greek economy, the leaders of the country’s state owned financial institutions might be expected to show solidarity with struggling citize... -
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Burma to borrow from World Bank after 25 years
The World Bank is about to resume lending to Burma for the first time since 1987. Together with its investment branch the International Finance Corporation and the Asian Developmen... -
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Zuckerberg no longer amongst tech top 10 as Facebook drops
As Facebook shares dropped around four percent to a record low on Thursday, Mark Zuckerberg’s fortune took a $423m hit. The 28-year-old is now worth only about $10.2bn, over $400... -
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Rise in grain prices leads to fear for food
A sharp rise in grain prices is reverberating around the world as nations face food inflation. There has been a 30-50 percent gain in the benchmark price of corn, wheat and soyabea... -
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Taiwanese economy shrinks
Taiwan’s economy has contracted in the second quarter by 0.16 percent, according to official data. Analysts surveyed by Bloomberg had expected it to grow by as much as 0.5 percen... -
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German banks’ lending to periphery lowest in 7 years
Lending by German banks to weaker parts of the eurozone has dropped to nearly 20 percent since the beginning of the year and is currently at its lowest level since 2005, according ... -
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Record high for Spanish unemployment
Spain’s unemployment rate has risen once again to 24.6 percent in the three months to June, despite a small decline at the beginning of the summer attributed to temporary positio... -
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Weak ore prices hit Vale profit
Brazilian iron ore giant Vale has reported a quarterly drop in net income of 59 percent as slow growth in China has affected iron ore prices. Further foreign exchange losses were t... -
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Apple’s weak quarter dampened by iPhone 5 rumours
Apple, currently the most valuable public company in the world, has missed growth forecasts in the third quarter of the fiscal year as the public held out for the release of their ... -
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WTO investigates Chinese limit on rare earth exports
The World Trade Organisation has announced it will be investigating China’s quotas and tariffs on exported tungsten and molybdenum following complaints by the US, the EU and Japa...
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