Browsing Category News
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State entities in Dubai show $101.5bn debt
Moody’s Investors Service on Tuesday said Dubai and its state-owned non-financials have outstanding debt of $101.5bn and could require further financial support to meet their obl... -
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Italian cabinet approves radical austerity measures
Italy’s new Prime Minister Mario Monti announced late on Sunday and ahead of a crucial EU summit on Thursday and Friday, that his cabinet has approved a €30bn package of auster... -
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India’s growth dips to two-year low 6.9 percent
India’s economy in the July to September quarter expanded at its slowest pace in over two years to 6.9 percent year-on-year compared to 8.4 percent for the same period last year.... -
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IMF says swift action is needed to steady Europe’s banks
A quick recapitalisation of European banks is necessary to steady markets and avert the economy from falling into another recession, IMF Europe Director, Antonio Borges, said late ... -
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Fitch cuts US credit outlook to negative
Fitch Ratings late on Monday warned the US it may cut its AAA rating if policymakers failed to agree on a “credible plan” to reduce its swelling budget deficit by 2013. There i... -
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Britain’s FTSE hits worst losing streak in nine years
Britain’s blue-chip ended lower for the ninth consecutive session on Thursday, marking its worst run since January 2003, after Germany reiterated its opposition to the use of eur... -
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Nokia Siemens to cut 17,000 jobs worldwide
Telecoms equipment giant Nokia Siemens Networks has said it will be shedding 17,000 staff globally in an attempt to bolster profitability in a stagnating network gear market. The c... -
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Moodys downgrade South African debt rating
The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s soverei... -
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Moody’s downgrade South African debt rating
The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s soverei... -
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Stocks fall on US and Spain woes
Stocks in early trading in Asia slumped on Wednesday after a downward revision of US economic growth in the third quarter and rising yields on Spanish bonds. The US economy grew at...
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