Moody’s Investors Service on Tuesday said Dubai and its state-owned non-financials have outstanding debt of $101.5bn and could require further financial support to meet their obligations. The credit...
Italy’s new Prime Minister Mario Monti announced late on Sunday and ahead of a crucial EU summit on Thursday and Friday, that his cabinet has approved a €30bn package of austerity measures to help...
India’s economy in the July to September quarter expanded at its slowest pace in over two years to 6.9 percent year-on-year compared to 8.4 percent for the same period last year. Data released Wedne...
A quick recapitalisation of European banks is necessary to steady markets and avert the economy from falling into another recession, IMF Europe Director, Antonio Borges, said late on Wednesday. The pr...
Fitch Ratings late on Monday warned the US it may cut its AAA rating if policymakers failed to agree on a “credible plan” to reduce its swelling budget deficit by 2013. There is a “slightly grea...
Britain’s blue-chip ended lower for the ninth consecutive session on Thursday, marking its worst run since January 2003, after Germany reiterated its opposition to the use of euro bonds or monetary ...
Telecoms equipment giant Nokia Siemens Networks has said it will be shedding 17,000 staff globally in an attempt to bolster profitability in a stagnating network gear market. The company plans to cut ...
The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s sovereign debt rating. The ...
The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s sovereign debt rating. The ...
Stocks in early trading in Asia slumped on Wednesday after a downward revision of US economic growth in the third quarter and rising yields on Spanish bonds. The US economy grew at a two percent annua...