(DUBAI) Rampant consumerism in the United Arab Emirates - home to Dubai, the self-styled capital of conspicuous consumption - could damage the economy and hinder the Gulf oil producer's efforts to become self-reliant, a government report said.
Monday, June 30, 2008
Sunday, June 29, 2008
US pension funds' oil investments driving up prices
(WASHINGTON) All those speculators getting the blame for driving up the price of oil these days - just who are they? For part of the answer, look in the mirror.
Friday, June 27, 2008
LSE, Lehman to launch 'dark pool' trading
(LONDON) London Stock Exchange Group plc and Lehman Brothers Holdings Inc will start a pan-European trading system that won't publicly disseminate price quotes as the UK market seeks to stem an erosion of business to competitors.
Thursday, June 26, 2008
Stanchart to continue expansion
(LONDON) Standard Chartered plc (Stanchart), the UK bank that makes more than 90 per cent of its profit in emerging markets, said it will continue to expand commercial banking in China amid a global credit crisis.
Wednesday, June 25, 2008
Qingdao wins three-way battle
THE lighter winds have finally had an effect on the leading teams and they slowed down overnight but not to the same extent as the teams further down the leader board.
Fed, SEC near formal data sharing pact
(WASHINGTON) The Federal Reserve and the Securities and Exchange Commission have nearly completed an information-sharing agreement on investment banks meant to detect potential risks to the broader financial system, a government official said on Monday.
Tuesday, June 24, 2008
Economists divided on end of sub-prime crisis
(WASHINGTON) A year after a summer sub-prime crisis roiled markets and squeezed credit worldwide, analysts are looking for signs that the worst is over for the troubled US housing market and banks that made risky bets on the sector.
Monday, June 23, 2008
westernaustralia2011.com rues indecision
WESTERNAUSTRALIA2011.COM who
made a very early tactical move to the
south soon after departing Sydney, Nova
Scotia, and then changed their mind
have now paid the price for their
indecision.
Sunday, June 22, 2008
New wave of trouble threatens US financial sector after sub-prime debacle
(WASHINGTON) Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in the financial sector that is battering even institutions that had steered clear of the sub-prime-home-loan debacle.
Gulf sovereign funds pour money into London skyline
(LONDON) Some of the construction cranes rising over the City of London, the financial hub of Europe, bear the seal of sovereign riches. Not British riches but Middle Eastern ones.
Saturday, June 21, 2008
Hull & Humber spies competition as fog lifts
THE fleet has struggled for the last 48 hours in light and fickle winds that constantly change direction and are made worse by thick fog banks that are synonymous with the Grand Banks, according to a report filed on Thursday.
Friday, June 20, 2008
Leading economic indicators index up
(WASHINGTON) The US economy is weak, but it has so far avoided a recession and may even turn around early next year, according to a key forecasting gauge that rose unexpectedly for the second straight month in May.
Thursday, June 19, 2008
Lawmakers vow to fight InBev offer for Anheuser
(WASHINGTON) Some US lawmakers ramped up their effort to thwart Belgian brewer InBev NV's US$46.3 billion offer for Anheuser-Busch Cos , saying on Wednesday that it would lead to US job losses and destroy an American icon.
Tuesday, June 17, 2008
Obama gets Al Gore's endorsement
(DETROIT) Former US vice-president Al Gore made his debut appearance in the presidential campaign here on Monday evening, offering a vigorous endorsement of Senator Barack Obama and urging Democrats to keep in mind the consequences of not taking the general election with grave seriousness.
Iran 'withdraws US$75b' from Europe
(TEHERAN) Iran has withdrawn around US$75 billion from Europe to prevent the assets from being blocked under threatened new sanctions over Teheran's nuclear plans, an Iranian weekly said.
Monday, June 16, 2008
Markets show 'pronounced turnaround': Greenspan
(NEW YORK) Former Federal Reserve chairman Alan Greenspan said that financial markets, roiled by the collapse of the sub-prime mortgage market, have shown a 'pronounced turnaround' since March.
Sunday, June 15, 2008
Swiss regulator to limit banks' loans
(ZURICH) Swiss banking regulators are to limit how much money domestic banks can borrow in a bid to limit the risk to taxpayers, according to a newspaper report yesterday.
Friday, June 13, 2008
Forecasters cut non-Opec oil supply growth
(WASHINGTON) Two of the world's most closely watched energy forecasters on Tuesday slashed predictions for output from oil fields outside the Organization of the Petroleum Exporting Countries (Opec) cartel in 2008 - more bad news for a global economy struggling with record high oil prices and tight supply.
Thursday, June 12, 2008
Bank shares rise on report of tycoon's buy
(MOSCOW) Bank shares rose yesterday after a report that Russian billionaire Suleiman Kerimov is buying stakes in major Western banks and wants other tycoons to join him.
Wednesday, June 11, 2008
Google offers search trend data
(SAN FRANCISCO) Num-ber-crunchers can rejoice as Google Inc offers deeper access to the underlying figures for users' Web searches, giving some insight into trends based on the relative popularity of various words.
Tuesday, June 10, 2008
US stores pull certain tomatoes off shelves
(LOS ANGELES) McDonald's Corp, Wal-Mart Stores Inc and other restaurant and grocery chains have stopped selling certain tomatoes as US health officials work to pinpoint the source of a salmonella outbreak.
Kubica wins first F1 victory, wants more
(MONTREAL) Now that he's got that first Formula One victory in his pocket, Robert Kubica wants more - a lot more.
Monday, June 9, 2008
Opec to meet only if it sees real supply threat
(DUBAI) Opec has no plans to meet to discuss oil's surge to a fresh record, and would need to see a real supply threat to gather before the next scheduled meeting in September, an Opec source said yesterday.
Sunday, June 8, 2008
Japanese households explore use of hydrogen fuel cells
(TOKYO) As world oil prices skyrocket, thousands of households in energy-poor Japan are taking part in an ambitious experiment to use fuel cells to light and heat their homes.
Thursday, June 5, 2008
Bear's private equity unit may be spun off
(NEW YORK) Bear Stearns's private-equity arm Bear Stearns Merchant Banking was expected to announce yesterday that it will spin off into an independent company with JPMorgan Chase as its largest investor, the Wall Street Journal reported.
Private sector jobs, productivity up in May
(NEW YORK) The US private sector added workers in May, defying Wall Street's expectations of a fall and suggesting the world's largest economy may be coping surprisingly well with the current housing-led downturn.
Wednesday, June 4, 2008
Yahoo sets Aug 1 date for AGM showdown
(SAN FRANCISCO/NEW YORK) Yahoo Inc on Tuesday set its annual shareholder meeting for Aug 1 in the heart of Silicon Valley as it braced for a showdown with billionaire activist investor Carl Icahn, who is mounting a proxy fight for control of Yahoo.
Monday, June 2, 2008
Vietnam best emerging retail market: study
(NEW YORK) The most attractive region for retailers looking to open stores abroad is the Middle East and North Africa, according to a study released yesterday, but the single hottest market at the moment is Vietnam.
No Opec output hike for now
(ALGIERS, Algeria) Opec president Chakib Khelil reiterated on Saturday that Opec would not make a decision on output policy before its next scheduled meeting in September, and said that oil market fundamentals were not responsible for high oil prices.
Sunday, June 1, 2008
CO2 market seen hitting US$20t a year
(NEW YORK) The world market for carbon dioxide (CO2) emissions may be worth as much as US$20 trillion a year in a decade, says Richard Sandor, chairman of Climate Exchange Plc, owner of emissions markets in London and Chicago.
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