Asian stocks plunged Wednesday after Wall Street chalked its second-biggest drop in four years and rattled already nervous markets worldwide. Overnight, the Dow fell 242.66, or 1.97 percent, to 12,075.96 amid concerns about U.S. sub-prime lenders,
Halliburton apparently does now, as this report from the Houston Chronicle indicates. And to answer the important question, no, Dubai doesn't. Extradite everyone we ask for, that is. Perhaps Dubai will extradite Halliburton executives in the f
The aim is to make more profitable use of its $1 trillion in foreign currency reserves that have piled up. Most of those funds are now parked in safe, but relatively low-yielding U.S. Treasury securities and other dollar-denominated assets.
China announced a huge February trade surplus, putting the spotlight once again on its controversial currency regime just hours after the central bank promised to make the yuan more flexible.
Oil services giant Halliburton Co. will soon shift its corporate headquarters from Houston to the Mideast financial powerhouse of Dubai, chief executive Dave Lesar announced Sunday. "Halliburton is opening its corporate headquarters in Dubai
A new law which increases income taxes on foreign firms in China will be phased in over five years to cushion the blow, Chinese Finance Minister Jin Renqing said.
China will soon create one of the world's largest investment funds, with ramifications for global stock, bond and commodities markets and for how the U.S. finances its trade deficits. [dumping dollars]
China's legislature began examining a measure intended to help protect private property in an increasingly well-off society. Although the Communist Party still believes the state owns all land, the growing economy has meant that private property
Pemex is in trouble. Its production and proven reserves are falling, and it has no money to reverse the slide. Mexico is the second-largest supplier of imported oil to the US, after Canada, but its total exports are slipping. Mexico may have trouble
China's foreign exchange regulators are considering allowing individuals to convert their yuan holdings into foreign currencies for direct investment in overseas markets.
March 21st 2007 will be on the most significant dates this month. Iran has outlawed the American dollar and will put anyone in jail that uses it in their country after that date. They have the ominous notoriety of being the first nation in the worl
There are some strange facts about the asset and trade positions of the US economy in the globalizing economy. The US runs massive and growing trade deficits, is borrowing at a clip that would arouse the suspicions of a casino pit boss,
For more than three decades, Libya has been an experiment in one man’s ideology. The result is a country with few functioning institutions, an unreliable legal system, inadequate schools and hospitals, and a population isolated and unprepared for mod
Gloom has deepened across most of the world's stock markets on signs of economic slowdown in the US and an end to a speculative bubble in China, analysts said. European stocks dropped, but by mid-day the losses were less sharp than those seen on
Stock markets plunged across much of Asia for a second day amid jitters about a sell-off in China's stock market and a worries about a possible slowdown in the Chinese and U.S. economies.
Dow Finishes Down 416 at 12,216, Nasdaq Finishes Down 97 at 2,408 on Global Market Plunge
(Reuters) - Argentine stocks slumped more than 4 percent on Tuesday on investor concerns over comments by former Federal Reserve Chairman Alan Greenspan suggesting the U.S. economy could slip into a recession this year.
The three major U.S. stock indexes - the Dow Jones Industrial Average, the broader S&P 500 Index, and the technology-heavy Nasdaq Composite Index - fell between three and four percent, wiping out all of the gains each index made so far this year.
At one point Tuesday afternoon, the Dow traded down nearly 550 points. The Dow index then regained some footing before the market closed at 4 p.m. (WHAT WILL TOMORROW BRING?)
In a speech in 2004, then Federal Reserve Chairman Alan Greenspan said: "It is difficult to imagine that we can continue indefinitely to borrow savings from abroad at a rate equivalent to 5% of US GDP." Well, but the third quarter of 2006
``We routinely talk to other automakers about areas of mutual interest,'' said GM spokeswoman Renee Rashid-Merem, who declined to comment further. Chrysler spokesman Mike Aberlich wouldn't comment.
India, China and Russia account for 40 per cent of the world’s population, a fifth of its economy and more than half of its nuclear warheads. Now they appear to be forming a partnership to challenge the US-dominated world order that has prevailed sin
De Beers, the world's top diamond company, said sales fell by 44% in 2006 for the first time in six years. [no money=no buying diamonds...plus diamonds can now be synthesized inexpensively=not a good investment]
The Chinese government is taking action to implement a new policy of diversifying the disposal of the country's over US$1 trillion foregin exchange reserves which was initiated by the Central Conference on Financial Affairs three weeks ago.
Its reputation tarnished by a series of technical mishaps, the Tokyo Stock Exchange is now pursuing a host of global alliances as part of stepped up efforts to safeguard its dominance as Asia's top bourse.
"The question is, how can you have cooperation without coercion? The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving
Friedman taught millions worldwide about the virtues of the free market and individual liberty. When communism fell in the Soviet bloc, a new generation of Friedman inspired activists and intellectuals were ready to implement his message of less gove
An excerpt from the biography of Nobel Prize winner Milton Friedman.
A panel of financial statesmen advised the IMF to sell 400 tons of its gold reserves as part of a new strategy to avert a long-term crunch in its finances. The IMF has more than 3,200 tons of gold as part of its financial stockpile, but has fought sh
If you suffer from back pain in Bavaria, do not assume that your will have to pay for advanced physiotherapy in euros. Helen Schutz offers a 12-week course in return for payment in "Chiemgauer". This unofficial local currency, the colorfu