Top World Business Stories Japanese Economy is facing tough times as GDP has witnessed decline of 12.7% during the last quarter. The GDP fell for third quarter as exports were lower by 13.9%. Japan’s Nikkei has fallen nearly 12% this year. While crude oil prices are declining, the price of gasoline is rising in many […]
Rupee up 4 paise against Dollar
MUMBAI: The Indian rupee appreciated by four paise to 49.16/18 against the US currency in morning trade on Wednesday after losing nine paise in the early trade amid signs of fresh pressure on the local unit as equity markets continued their slide for the second straight day. Dealers at the Interbank Foreign Exchange (forex) market said the […]
Russia’s Devastating Downturn
Posted by Veronica Khokhlova In mid-October, Global Voices published a roundup of Anglophone bloggers’ views on the financial crisis in Hungary, Estonia, Latvia, Lithuania, Serbia and Ukraine. Below is another installment on the effects and the likely consequences of the crisis in Russia. Edward Hugh of Eastern Europe Economy Watch examines the figures and concludes […]
Russian stocks, rouble tumble
Russia’s stock market lost over a tenth of its value on Friday, hitting its lowest levels since late 2004 as a further oil price fall cast fresh doubts over Russia’s ability to avoid a recession and defend its currency. The rouble slid a further 23 kopecks to 27.23 rouble per dollar, touching a two-year low, […]
Congress Scolds Former AIG Executives
Members of Congress and former AIG chiefs are playing the blame game during investigations as to what led to the insurer’s downfall. AIG Socked by Credit Default Swaps, then Congressional Probing Former AIG CEOs Maurice "Hank" Greenberg, Martin Sullivan and Robert Willumstad testified during a hearing held by the U.S. House of Representatives Oversight and […]
Rupee at 39.6150/6250 Vs dollar
The Indian rupee on Friday lost eight paise against dollar to a two-month low of 39.6150 on the back of good demand from banks for the greenback in the face of lacklustre trading in the stock markets. Forex dealers said lack of any major direction due to a holiday in most of the Asian countries […]
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