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UAE mortgage giants in merger talks

The surging Dubai and Abu Dhabi property markets received a major boost on the weekend with news that the UAE's biggest mortgage lenders are in

[Business] Citigroup goes to court over Wachovia takeover

(IANS)In another surprise development in the takeover race for the fourth largest US bank, a New York state court judge has granted an order extending ...
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[Business] Toyota allows interest free loans

Saturday 4th October, 2008  The Toyota Motor Corp in the US has responded to low car sales figures by allowing customers to buy at a zero-percent ...
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[Business] Greece moves to guarantee bank deposits

(IANS)Greece's finance ministry Friday said the government would guarantee all bank deposits, assuring nervous savers across the southern Mediterranean country that their banks were safe.National ...
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[Business] Ex-Merrill Lynch boss to join Bank America

Bank of America Corp has suggested to Merrill Lynch Chairman and Chief Executive Officer, John Thain, that he takes an executive position with the company.Bank ...
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[Business] Stock markets in Asia plummet

Inspired by Thursday's sell-off on Wall Street Thursday, Asian markets responded Friday by sending major indices tumbling.Indian stocks led the way with the benchmark BSE ...
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[Business] Hindraf supporters attend Malaysian PM's Eid open house

(IANS)Members of a Hindu body utilised Malaysian Prime Minister Abdullah Ahmed Badawi's annual Hari Raya open house to seek freedom for five of their detained ...
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[Business] France may go into recession this year

(IANS)After shrinking by 0.3 cent in the second quarter of this year, France's economy will continue to contract for the next two quarters, plunging the ...
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[Business] Mitsubishi mulls securities unit merger with Morgan Stanley

(IANS)Tokyo, Oct 3 (Xinhua) Mitsubishi UFJ Financial Group (MUFG) is mulling merging its securities unit with US investment bank Morgan Stanley's Japanese securities unit, Kyodo ...
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[Business] OPEC crude price lowers

(IANS)Vienna Oct 3 (DPA) The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) eased by a further $0.72 Thursday, ...
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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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