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The Egyptian President Hosni Mubarak and President of the UAE Sheikh Khalifa bin Zayed al-Nahyan discussed cooperation between the two countries in issues including trade and investment, during Mubarak's visit to the oil-rich Gulf state on Wednesday, Emirates News Agency (WAM) reported.
The leaders also discussed the Middle East peace...
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Arab stock markets continued their downward journey this week, with financial analysts on Friday citing unjustified "panic and psychological pressures" from the turmoil on global markets.
According to a report by the Kuwait-based Global International Investments House released Friday, the stocks of the oil-rich six member...
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Japan's current account surplus shrank for the seventh-straight month in September, slipping 48.8 per cent to 1.5 trillion yen (15.17 billion dollars) as higher energy prices boosted imports, the Finance Ministry said Tuesday.
Exports in September increased 2.1 per cent from the same month a year earlier to 7 trillion yen, and...
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Sumitomo Mitsui Financial Group Inc on Wednesday said it expects full-year profits to fall by more than 60 per cent due to the global financial crisis.
Sumitomo Mitsui, one of Japan's three mega banks, expects its net profit to fall 62.5 per cent to 180 billion yen (1.9 billion dollars) for the fiscal year through March, compared...
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Axa New Zealand Ltd said Tuesday that it had frozen three managed mortgage funds worth a total of 225 million New Zealand dollars (121.5 million US dollars) to head off a feared run of withdrawals from 5,000 investors.
Ralph Stewart, chief executive of the insurance and investment management firm, said withdrawals from the Mortgage...
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Asia-Pacific stocks took dives Thursday amid bearish sentiment triggered by Wall Street's sharp overnight losses as well as a dismal global and regional economic outlook.
The market in the region's largest economy, Japan, also dipped as a stronger yen dimmed sales prospects among the country's export-oriented manufacturers.
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The benchmark Hang Seng Index dropped below 14,000 to close 3.55 per cent down at 13,760.49 Thursday after a roller-coaster trading session which saw the index fall more than 6 per cent in morning trade.
The index recovered to punch above 14,000 in early afternoon trade before the gains were lost and the index ended the day 506...
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A stockbroker in India's financial capital of Mumbai killed his pregnant wife before committing suicide due to the financial downturn, media reports said Wednesday.
Parag Tanna and his wife Neha were found dead by relatives in the city's Kandivali area Tuesday night, police told CNN-IBN network.
Police suspect that Tanna, who...
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Having lived and learned from the 1997 crisis, South-East Asia's property markets have so far proved resilient to the US subprime crisis and knock-on financial meltdown but they are far from immune to the global mess.
"No one can get off scot free from what's happening because global liquidity has been reduced and also the...
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Taiwan's property market, hit hard in the last few months by the global downturn and a drastic domestic stock plunge, is likely to enter a recession from next year, property dealers and analysts said.
"Beginning next year, the property market here is likely to see obvious slowdown, which could last two to four years,"...
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Indian equities surged 7.6 per cent Monday on strong global cues as well as assurances by Finance Minister P Chidambaram who insisted the fundamentals of the Indian economy were strong.
"This is a time of uncertainty. Yet in a time of uncertainty, some facts cannot and ought not to be ignored," Chidambaram told a press...
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"Thailand is a resilient society," Thai Prime Minister Somchai Wongsawat assured the Bangkok diplomatic corps Wednesday, in the wake of a bloodbath that claimed two lives and injured 437 and forced the premier to make a helicopter getaway.
"We will resolve domestic problems through the democratic process," Somchai...
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India's benchmark Sensex stock index plunged by nearly 6 per cent in trading Monday on capital outflows by foreign funds tracking the global financial crisis as the Indian markets watchdog removed curbs on foreign funds.
The 30-share-sensitive index, which lost 529.35 points in the previous session, plunged another 724.62 points in...
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Pablo Fierro came to Washington from Philadelphia for a rally against the proposed 700-billion-dollar financial bailout, which the House of Representatives could vote on Friday.
He held up an orange sign: "No to the bankers' coup d'etat."
Thursday's rally within shouting distance of the US Capitol was organized by a...
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The Vietnamese stock market fell slightly Monday as local traders worried that new companies listing next month will dilute share prices and that new foreign investment will not be forthcoming.
Despite news that the US government and congress had agreed on a bail-out plan for holders of mortgage-backed securities, the VN-Index ended...
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Asia-Pacific stocks on Thursday mirrored the overnight plunges on Wall Street as credit dried up and fears rose that more financial companies would fail.
The biggest drops in the region were seen in Hong Kong, whose benchmark Hang Seng Index fell as much as 7.38 per cent before recovering; the Philippines at 4.25 per cent; and...
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South Korean companies and financial markets will feel the after-effect of the collapse of US investment bank Lehman Brothers in the short term, but officials and analysts are confident that the economy can cope with the turmoil in the long term.
Finance Minister Kang Man Soo told the parliament's financial committee on Wednesday he...
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Taiwan Defence Minister Chen Chao-min said Tuesday that the military must not relax its vigilance against China despite friendly exchanges across the Taiwan Strait.
"So far, the Chinese Communists have yet to express their goodwill to us, and therefore, the armed forces must not drop their combat readiness and relax their...
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Visiting Lebanese Prime Minister Fouad Seniora and Iraq's Prime Minister Nuri al-Maliki on Wednesday agreed, among other things, on the export of Iraqi crude oil to Lebanon during talks in Baghdad.
Seniora arrived in the Iraqi capital amid tight security Wednesday as the first Lebanese leader to visit the conflict-torn country in two...
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The Philippines and Kuwait on Friday signed three agreements aimed at boosting cooperation between the two countries on health, energy and tourism.
Philippine President Gloria Macapagal Arroyo and visiting Kuwaiti Prime Minister Sheikh Nasser al-Mohammed al-Ahmed al-Haber al-Sabah witnessed the signing of the agreements.
A...
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Thai shares jumped 4.1 per cent in value Thursday in response to falling world oil prices and an influx of foreign funds, brokers said.
The Stock Exchange of Thailand (SET) index ended at 703.87, up 27.52 points or 4.1 per cent.
Brokers attributed SET's dramatic rise, which was not seen on other Asian markets Thursday, to an influx...
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 The Japanese Prime Minister Shinzo Abe is meeting his
Indian counterpart, Manmohan Singh to discuss and negotiate a tighter strategic
and global relationship between the two countries.
The two officials are expected to discuss subjects like civilian
nuclear, defense deals and strengthening
the bilateral trade agreement ,...
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The Serbian government postponed its regular meeting Thursday, amid tensions in the volatile ruling coalition over excessive spending plans made before the financial crisis exploded.
Prime Minister Mirko Cvetkovic's cabinet was expected Thursday to launch an arrangement with the International Monetary Fund (IMF), but was apparently...
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European Union countries must improve their energy efficiency and stop using the financial crisis as an excuse not to reduce pollution, the bloc's top officials said Thursday.
"The financial crisis has not diminished the risks to our planet deriving from climate change," European Commission President Jose Manuel Barroso...
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The ongoing financial crisis could threaten many countries' agricultural sectors, undoing this year's record world cereal production, a UN agency reported Thursday.
World cereal production is expected to set a new record this year thanks to high prices and favourable weather conditions, which boosted planting, said the Rome-based Food...
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A national phone-in number set up by citizens' advice bureaux in Germany has fielded 111,000 calls from Germans worried about the global financial crisis in just over a week, organizers said Monday.
Gerd Billen, head of the national advice bureaux association VZBV, appealed to the government to provide more funding for the service,...
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Britain's Barclays bank said in London Friday it plans to raise some 7.3 billion pounds (11.8 billion dollars) in fresh capital from investors, mostly from the Middle East, thereby avoiding a cash hand-out from the British government.
The investments would mostly come from state funds in the Gulf state of Qatar and the royal family...
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Britain's Barclays bank said in London Friday it plans to raise some 7.3 billion pounds (11.8 billion dollars) in fresh capital from investors, mostly from the Middle East.
Barclays said the move fulfilled government regulations for raising capital and avoided a government bail-out for the bank, keeping it "strong and...
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Libyan President Moamer Gaddafi is welcome to visit Italy where he would be received as a friend, Italian foreign minister Franco Frattini said Thursday, according to news reports.
"If the leader of the Libyan revolution desires to visit Italy we will greet him with friendship, as one would with a friend," Frattini was...
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German Chancellor Angela Merkel called Tuesday for early reforms of world financial markets as she met with a panel of German experts who have been appointed to draw up proposals.
"Time is of the essence," said Merkel in Berlin, saying she wanted to take details with her to the G20 summit in Washington on November 15. The...
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The French government will establish an investment fund to support the country's strategic enterprises affected by the economic crisis, President Nicolas Sarkozy said on Thursday in the city of Annecy.
The fund will make available loans to struggling companies in exchange for shares, which will be sold, presumably at a profit, once...
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The German Government unveiled on Monday conditions for banks applying for financial support from its 480 billion-euro (645.46-billion dollar) bank rescue package as Berlin considers moves to help boost Europe's biggest economy in the face of an expected sharp global slowdown.
One of the first German banks to go to Berlin cap in hand...
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German banks across the board have been steadily winning new customers as the financial crisis mounts, statistics released Thursday show.
Rather than withdrawing money from banks to hide under the mattress, Germans appear to regard banks as the safest place, especially after a promise last month by Chancellor Angela Merkel that not...
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 The UK education is said to be the highest one in the world. But a group made by the most important universities has recently announced that if no investment is made, the UK universities might lose their standing as top study places. Times Higher Education-QS World University Rankings has shown that Cambridge and Oxford, the most...
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Networking website Facebook plans to set up its international headquarters in the Irish capital Dublin, Deputy Prime Minister Mary Coughlan said in a statement Thursday.
The Dublin headquarters was expected to offer technical and sales support to users and customers in Europe, the Middle East and Africa, the statement said, without...
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Environmental groups on Wednesday reacted with outrage to a French proposal weakening planned European Union laws on the amount of carbon dioxide (CO2) cars should be allowed to emit.
The French government, which currently holds the EU's rotating presidency, "is giving up any pretence of trying to limit the climate impact of...
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France and India have signed an agreement on bilateral cooperation in the development of nuclear energy, according to a joint statement released after a meeting in Paris Tuesday between French President Nicolas Sarkozy and Indian Prime Minister Manmohan Singh.
The agreement "constitutes the basis of an increased bilateral...
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France and India have signed an agreement on bilateral cooperation in the development of nuclear energy, according to a joint statement released after a meeting in Paris between French President Nicolas Sarkozy and Indian Prime Minister Manmohan Singh.
This agreement "constitutes the basis of an increased bilateral cooperation in...
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Austrian-based construction group Strabag SE announced Monday it has put on hold a planned joint venture with a Russian cement group in order to stay flexible in the current financial crisis.
Strabag had planned a deal worth 500 million euros (717 million euros) to combine its Hungarian cement factory with Basel Cement's four cement...
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Sweden is prepared to weather the global economic downtown, Finance Minister Anders Borg said Monday when he presented the centre-right coalition's budget bill.
"This budget is a strong package aimed at softening the downturn in the global economy," Borg told parliament.
"Dark clouds were gathering and cast a shadow...
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Russian Prime Minister Vladimir Putin told investors at a forum in Russia's Black Sea resort of Sochi on Friday that Russia would not play politics with its market and remained open to foreigners despite acrimony over its war with Georgia.
"Our ideology and politics remain the same," Putin told executives....
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Two more German public banks, Bayern LB and NRW Bank, disclosed Friday they were exposed by the collapse this week of US investment bank Lehman Brothers.
The admissions came a day after a federally controlled German bank KfW said its exposure to Monday's Lehman failure totalled 536 million euros (772 million dollars).
In a letter...
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A Spanish opponent of capitalism defrauded 39 banks of 492,000 euros (699,820 dollars) to "denounce the banking system," media reported Wednesday.
Enric Duran, 32, sought credits for buying a flat, a car or for investments by companies which only existed in name.
He gave false information about his profession and income...
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Berlin demanded an inquiry Wednesday into why Germany's federal-government bank KfW handed over a reported 300 million euros (420 million dollars) to Lehman Brothers, only hours before the US bank failed.
Financial sources said KfW could only hope to recover about half the sum, with Lehman expected to pay 40 to 50 cents in the dollar...
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The 2008 World Expo on water and sustainable development that ended overnight has been branded a "success," recording 5.65 million visitors since June in the northern Spanish city of Zaragoza, organizers said on Monday.
Organizers had initially said they expected more than 6 million visitors to the Expo.
Visitors included...
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Turkish prosecutors may open their own inquiry into a scandal currently before a German court where an Islamic charity allegedly siphoned off donations, Hurriyet newspaper reported on Thursday.
There have been claims in Turkey that the ruling Justice and Development Party (AKP) was a beneficiary of the alleged scam.
Three former...
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Uniqa Versicherungen AG, one of Austria's largest insurers, said Friday its net profit slipped by 3.5 per cent to 109 million euros (161 million dollars) in the first half of 2008, as falling income from investments outweighed growing premiums.
The insurer reported the value of its written premiums had grown 10.4 per cent to 3 billion...
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Austrian-based construction group Strabag SE on Friday reported its net profit rose 25 per cent to 82.3 million euros (121.4 million dollars) in the second quarter, and raised its forecast for 2008, due to a record order backlog.
Strabag's earnings before interest and taxes (EBIT) amounted to 109.8 million euros, up 11 per cent from...
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German Chancellor Angela Merkel's ruling coalition unveiled Wednesday new far-reaching rules to head off powerful foreign-owned state-controlled funds going on a shopping spree for companies in Europe's biggest economy.
Of particular concern to Merkel's conservative Christian Democrat-led coalition is the threat posed to key German...
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Germany's biggest power company E.ON AG posted on Wednesday an 8-per-cent rise in first-half profits as high energy prices boosted the group's earnings.
Adjusted net profit rose to 3.3 billion euros (4.9 billion dollars) during the first six months of the year compared to the same period in 2007, underpinned by a 16-per-cent jump in...
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Shares in leading German property lender Hypo Real Estate Holding AG dropped Tuesday after write-downs forced the group to post a sharp fall in second-quarter earnings.
Pre-tax profit slumped to 40 million euros (25.4 million dollars) from 320 million euros in the same quarter last year, the company said.
"The next months will...
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Royal Bank of Scotland (RBS) Friday became the latest British bank to mark the first anniversary of the credit crunch with dismal figures, reporting a pre-tax loss of 691 million pounds (1.38 billion dollars) in the first six months of 2008.
Analysts said the losses were the second-biggest in British banking history, exceeded only by...
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Two people were killed and at least three injured by an explosion on the beach in the Olympic host town of Sochi along the Black Sea, Russian agencies reported.
"At 10:35 am an unidentified device exploded at Loo beach, two people were killed," the head of the city's emergency situations ministry, Anatoly Sherbinin, was...
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Two people died in an explosion on a tourist beach in the Olympic host city of Sochi, drawing a strong reaction from authorities, Russian news agencies reported.
"At 10:35 am (0600 GMT) an unidentified device exploded at Loo beach, two people were killed and 13 injured including an 8-year-old girl," Interfax quoted an...
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 Russian President Vladimir Putin announced Friday that his country and the European Union came to an agreement regarding a new “strategic partnership.”Putin met with German Chancellor Angela Merkel and EU Commission President Jose Manuel Barroso in the city of Samara in order to ease the tensions between the two sides and booster the...
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 Microsoft has chosen to stick with its code name for a
Windows release. In a blog posting, general manager Mike Nash said that the
next version of Windows will be called Windows 7, because it’s the seventh
version of the operating system (OS). Nash added that Microsoft decided against
using an inspirational name because the company’s...
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Australia's securities regulator Friday joined its counterparts in the United States and Britain in curbing the short-selling of shares that has contributed to the tumult on stock markets.
The Australian Securities and Investments Commission (ASIC) ruled that from Monday a temporary ban on what's called naked short-selling would take...
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With finite reserves of oil and gas, Iran is
desperately looking for alternative revenues to fuel, which makes up
more than 80 per cent of the country's income. Iran believes it has found the perfect solution in tourism and is therefore planning huge investments in the travel industry.
The aim is easier said than done,...
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Israel's anti-corruption unit has said Prime
Minister Ehud Olmert's announcement that he will step down in September
will not affect the ongoing corruption probe against him, Israeli media
reported Thursday. Police detectives probing a string of corruption allegations against Olmert
are due to question him again on Friday over some...
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All nine defendants in the
BAWAG bank were found guilty on Friday in the trial on Austria's
biggest banking scandal on Friday, as the bank managers were held
responsible for high losses arising from speculative investments.
Former BAWAG CEO Helmut Elsner, 73, and other bank managers were deemed
guilty of having hidden losses...
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 On Thursday, a critique co-signed by Roger Pielke Jr., a science-policy specialist at the University of Colorado at Boulder, caused quite a stir. The study attempted to show that the UN’s Intergovernmental Panel on Climate Change was way off with its assessment of the technology challenge the world is facing.The study referes to the...
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 Former music mogul Lou Pearlman, the man
who launched Backstreet Boys and ‘N Sync, was sentenced to 25 years in federal
prison after he pleaded guilty to two counts of conspiracy and single counts of
money laundering and presenting a false statement during a bankruptcy
proceeding.
But Pearlman had the chance to cut his
prison...
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 Former music mogul and mastermind behind boy bands
Backstreet Boys and ‘N Sync, Lou Pearlman was finally busted and brought in
court.
Pearlman pleaded guilty to several serious charges,
including federal charges of conspiracy, money laundering and making false
statements during a bankruptcy proceeding. He was accused of bilking...
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 Record label EMI may be left without one of its most selling
artists, Robbie Williams. The artist’s manager, Tim Clark revealed that
Williams is considering that possibility, once he has completed his final
studio album.
The deal that bonded Williams and EMI was completed in 2002,
prescribing the release of four albums under the...
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New York state's attorney general has threatened legal action against financially troubled insurer AIG unless it takes steps to "review, rescind and recover all past unreasonable expenditures."
The move comes as US authorities are starting to investigate the behaviour of multiple financial companies in the wake of the...
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In the clearest terms yet, the Senate's top Democrat, Majority Leader Harry Reid, Friday charged that the Republican presidential nominee John McCain had derailed a congressional agreement intended to rescue the country from a devastating financial crisis.
"A few days ago, I called on Senator McCain to let us know where he stands...
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Barack Obama stormed into the backstretch of his historic race for the White House on Thursday, painting a sweeping vision of his confidence in America's promise and reinforcing it with details of how he would restore America's image overseas and the economy at home.
Obama, 47, the first African-American major-party presidential...
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Two elderly California women received life
sentences Tuesday for murdering two homeless men to cash in on life
insurance policies, the Los Angeles Times reported. A Los
Angeles judge sentenced Helen Golay, 77, and Olga Rutterschmidt, 75, to
life without the possibility of parole. The women had been convicted of
murder and...
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 Republican presidential candidate Mitt Romney, seeking to salvage his
bid for his party's nomination, stressed his local roots and business
credentials as he campaigned across Michigan ahead of the state's
Tuesday primary.
Romney, a wealthy businessman and former Massachusetts governor,
sank millions of dollars into the first...
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 The United States on Monday rejected a proposal to include 25- to
40-per cent reductions in greenhouse gas emissions by 2020 in a UN
draft agreement at a climate change conference.
To agree to greenhouse gas reductions would require "a lot of
analysis," said Harlan Watson, head of the US delegation at the Bali
talks,...
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 The Indonesian forest minister called for an international recognition
for the protection of tropical forests, on the Forest Day of the UN
Climate Change Conference in Bali on Saturday.
Indonesia expected an international agreement which would create
incentives for sustainable forest management via market mechanisms,
Malam Sambat...
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Pakistani stocks nosedived
4.11 per cent Monday ahead of a central bank meeting that was expected
to bring a jump in interest rates, traders said. The benchmark KSE-100 Index of the Karachi Stock Exchange fell 453.68 points to close at 10,578.49.
The plunge was seen a day before the State Bank of Pakistan was
forecast to lift...
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 The US House of Representatives overwhelmingly approved on
Tuesday a 146-billion-dollar stimulus package aimed at boosting the ailing
economy, as the Senate reportedly debated several amendments.
The package passed on a bipartisan 385-35 vote and was
forwarded to the Senate with an appeal for lawmakers to pass it without...
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 Gartner has announced on Tuesday,
the 9th of October 2007, that at the end of the current year the
money people will have spent on IT devices and services will surpass the huge
amount of more than $3 trillion, which is even 8 percent more comparing to last
year. The first reason of this growth is represented by the rapid growth...
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By D. DONOVAN KINSOLVINGUPI Features Writer Today is Saturday, July 21, 2007
TODAY'S ASTROLOGICAL TIMETABLE
Positions of the planets and luminaries today at noon GMT (8 a.m. EDT):
Sun............... 29th degree Cancer
Moon.............. 20th degree Libra
Mercury........... 9th degree Cancer
Venus............. 3rd degree...
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By D. DONOVAN KINSOLVINGUPI Features Writer Today is Thursday, June 14, 2007
TODAY'S ASTROLOGICAL TIMETABLE
Positions of the planets and luminaries today at noon GMT (8 a.m. EDT):
Sun............... 24th degree Gemini
Moon.............. 15th degree Gemini
Mercury........... 12th degree Cancer
Venus................
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By D. DONOVAN KINSOLVINGUPI Features Writer Today is Saturday, June 2, 2007
TODAY'S ASTROLOGICAL TIMETABLE
Positions of the planets and luminaries today at noon GMT (8 a.m. EDT):
Sun............... 12th degree Gemini
Moon.............. 29th degree Sagittarius
Mercury........... 5th degree Cancer
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 HP, which has this year dethroned Dell from the position of largest computer manufacturer in the world, reports another victory over its rival: a $5.6 billion contract with NASA.During the 7 year contract, the Palo Alto, CA-based giant will provide NASA with “a wide range of technology […] needed by U.S. federal government agencies.”HP...
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 In the race for the fastest and most energy-efficient processor the main actors until now have been Santa Clara-based Intel and Sunnyvale, CA-based AMD. But what the world forgot is that the “good old” IBM is not yet out of the business.Today, IBM announced the debut of the world’s most powerful chip and a new type of computer server...
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The assets of Hong Kong budget airline Oasis, which collapsed in April, will go on sale Tuesday, the company organising the auction confirmed Monday.
The assets, divided into 50 lots, include aviation gear and spares and a virtual simulator used to train pilots alongside cabin furnishings such as cabinets, seats and head...
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 The New Zealand government announced in Monday that it aims to buy back the nation’s rail services from Toll Holdings Ltd. for NZ 665 million dollars (520 million dollars), also allowing upgrades to go ahead.The agreement regarding the purchase came after the government and the Australian Toll were unable to agree on a deal for Toll’s...
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 Similarly
to other companies, the world’s No. 2 PC maker, Dell, decided to expand its
presence on the Chinese and Indian market. According to CEO Michael Dell, the
PC maker will try to drive sales in the fast-growing Asian markets, but also to make
significant investments particularly in China.
Michael
Dell rightfully called...
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 PG&E Corporation announced its figures for the previous year on Friday, showing a rise also during the full year, but especially during the fourth quarter, as its net income fore Q4 was of 203 million dollars, or 0.56 dollar per share, compared to the 0.43 dollar per share, or | | | |
