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OPEC wants urgent action from Saudi Arabia

The head of the OPEC cartel has said member countries must implement agreed production cuts if they want stable oil prices, Chakib Khelil has said

[Business] Metro Hospitality Group launches Aspire Hotels

The Metro Hospitality Group, has launched a new hotel brand, Aspire Hotels.The brand will be used for midmarket hotels in the 3 to 3.5 star ...
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[Business] World Economic Forum predicts tough times ahead

(Dorian Jones )The World Economic Forum met in Turkey for a three-day meeting to come up with solutions to the global economic crisis.Two key messages ...
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[Business] British PM to ask UAE for bailout funds

(IANS)British Prime Minister Gordon Brown will arrive in the United Arab Emirates (UAE) capital Monday on a two-day visit in the final leg of his ...
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[Business] Yahoo to announce more job cuts next week

Saturday 18th October, 2008  (IANS)Los Angeles, Oct 19 (Xinhua) Yahoo is expected to announce more job cuts when it would present its third-quarter earnings next week, ...
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[Business] Dow Jones makes best weekly gain in 3 years

Friday 17th October, 2008  (Barry Wood )There was more volatility on world stock markets Friday with the Dow industrials swinging between gains and losses.While the Dow ...
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[Business] AIG International stops perk payment to CFO

Friday 17th October, 2008  Insurance group, American International has canceled a multimillion dollar severance package for its departing chief financial officer.The company announced it has stopped ...
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[Business] Tata-owned Corus, Jaguar Land Rover take a knock

Friday 17th October, 2008  (IANS)Two companies owned by the Tata Group in Europe have taken cost-cutting steps in response to the financial crisis sweeping Britain and ...
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[Business] French government to look into bank's $804-mn loss

Friday 17th October, 2008  (IANS)French Finance Minister Christine Lagarde has asked the government's bank oversight authority to look into the country's second-largest banking group, Caisse d'Epargne, ...
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[Business] Canada, EU, seek new trade pact amid finance crisis

Friday 17th October, 2008  (IANS)The ongoing global financial crisis tops the agenda of talks between Canadian Prime Minister Stephen Harper and European Union (EU) leaders, as ...
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Air New Zealand announces test flight using new biofuel

(IANS)Air New Zealand will make the world's first commercial aviation test flight powered by fuel created from the seeds of the African jatropha plant next

Nokia Siemens Networks to trim jobs

(IANS)The 50:50 joint venture Nokia Siemens Networks said Tuesday it planned to cut some 1,250 jobs in Finland and Germany as part of cost-cutting measures.The

Credit card pullback during festive season

Holiday season consumers are supposedly trying to limit their credit card purchases this year.A survey conducted for Reuters has shown a total of 88.6 percent

IMF chief calls for coordinated action to tackle financial crisis

IMF Managing Director Dominique Strauss-Kahn has urged the Group of Twenty (G-20) leaders to deal with the immediate fallout from the financial crisis through coordinated

India now top import source for Bangladesh

India has regained the top position as Bangladesh's importing source, beating China, having exported rice worth $874 million last year.Statistics released here last week by

Yen rises against world currencies

The yen has risen against the dollar and the euro, with investor sentiment remaining jittery over global recession fears.On Monday, Tokyo's Nikkei share average surrended

New attraction in Bangladesh: Taka 1000 currency note

(IANS)Bangladesh has introduced new Taka 1000 currency notes and they are much in demand with many heading to street vendors in the capital and even

Another two banks fail in US

Two more failed banks have brought the tally in the US to 19.On Friday, the government closed down Franklin Bank, a Houston, Texas-based bank and

British car sales down, but Tata's Jaguar up

(IANS)Sales of new cars in Britain fell by 23 percent in October - the steepest fall for 17 years - but Tata-owned Jaguar bucked the

IMF releases world forecast

Thursday 6th November, 2008  The International Monetary Fund released its global economic forecast Thursday in the face of a growing credit crisis and predicted a recession
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