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German federal bank sacks two executives

(IANS)KfW, a bank run by Germany's federal government, has sacked two of its seven executive board members because of a blunder that cost the bank

[Business] Japan broker gets Lehman Brothers for two dollars

Saturday 27th September, 2008  Japan's top broker Nomura Holdings intends paying just two dollars for bankrupt Wall Street giant Lehman Brothers' operations in Europe and the ...
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[Business] China bank regulator condemns US money practices

Saturday 27th September, 2008  China's top bank regulator has condemned the United States' role in the global credit crisis and urged international cooperation on regulatory systems.The ...
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[Business] Wachovia Corp sale sparks bidding war

In the US, a bidding war is taking place over Wachovia Corp.Citigroup and Wells Fargo are locked in battle over the Wachovia sale, but it ...
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[Business] Brazil utility company receives power loan

The Brazilian Development Bank has approved a US$180 million loan for a Sao Paulo-based energy distribution company.The company, CTEEP, intends building its own transmission system ...
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[Business] HSBC cuts over one thousand banking jobs

HSBC, Europe's biggest bank has announced it will cut 1,100 jobs in its global banking operation.Management has cited market conditions and the economic environment as ...
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[Business] Housing prices continue to flatten in US

The steepest housing downturn in decades has been a major drag on the U.S. economy.New-home sales in the United States have dropped substantially to a ...
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[Business] UAE to spend $15 bn on IT and communications by 2011

Irish SunWednesday 24th September, 2008  (IANS)The United Arab Emirates' (UAE) expenditure on information and communications technology (ICT) is expected to rise to $14.8 billion by 2011, ...
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[Business] British businesses eye emerging markets

(IANS)India and China continue remain the favourite destinations for British companies eyeing emerging markets but new ones are cropping up across the world, a new ...
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[Business] World leaders attack US financial oversight

(IANS)Wall Street's and the Bush administration's record of financial oversight has come under attack at the UN, with world leaders gathered here for the General ...
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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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