Speculation is taboo under sharia, and there's a ban on assessing interest because the Prophet Mohammed said debts must be repaid in the amount that was loaned. Money proffered must be backed by collateral, and if financial instruments are traded
Gold can easily go up to $1500-$2000 in the medium-term, says Johann Santer, MD at Superfund Financial Hong Kong. As such, he tells CNBC's Martin Soong that gold at $710 is a good entry point.
Johann Santer, MD at Superfund Financial Hong Kong told CNBC that he expects to see gold climb from its current position at $710 to a whopping $1500-$2000 an ounce within the next three months.
G-20 conference will set in motion plans for a new world economic order, and the centralization of financial power into an internationalist inner circle of regulators completely above oversight or accountability.
TOKYO (AFP) – Japan will propose to lend up to 100 billion dollars to the International Monetary Fund at the financial crisis summit in Washington that begins Friday, as gloom spread over an imminent worldwide recession.
Russian stocks plunged and Kuwait suspended trading as a slump in oil to below $55 a barrel roiled emerging markets and increased concern that Moscow will be forced to devalue the ruble.
Washington, the UK and IMF plan to use the economic crisis to turn global economies into banana republics and suck out all their wealth.
This week’s Washington summit of 20 nations, called to discuss reforming the international financial system and avert a further worsening of the credit crisis that began in the United States, sets a precedent for a new international order.
U.S. light, sweet crude for December delivery fell $2.74, or 4.4 percent, to $59.66 a barrel by 7:38 a.m. EST. London ICE Brent crude fell $2.56, or 4.35 percent, to $56.52.
Asian stock markets were lackluster Tuesday after weakness on Wall Street, as concerns about the global economy sapped enthusiasm over China's nearly $600 billion package to boost growth.
The G20 meeting in Brazil exposed opposing views on how to regulate financial markets and the role institutions like the International Monetary Fund should play in overseeing a new global economic order.
D. Carnegie & Co. AB, Sweden's largest publicly traded investment bank, was seized by the government and will be sold off in parts after accusations that it took "exceptional risks'' with loans.
Prime Minister Gordon Brown called on governments around the world to coordinate taxes and spending policies to shore up a slowing world economy. ...wants "better international coordination of fiscal and monetary policy, recognizing the immediat
European stock markets opened higher Monday after Asia's markets were boosted by China's $586 billion plan to stimulate its economy, a main driver of global growth.
After the collapse of the agriculture sector in Zimbabwe in 2000, the inflation in that country skyrocketed to 231 million percent a year! (funny... everyone is smiling in the pictures)
The failure of Iceland’s banks; the plummeting of its currency; the first wave of layoffs; the loss of reputation abroad — felt like a bad dream, Iceland has now awakened to find that it is all coming true.
A statement on the government's Web site said China's Cabinet had approved a plan to invest the amount in infrastructure and social welfare by the end of 2010. Some of the money will come from the private sector.
The global economic crisis deepens.
4 weeks of strikes. Tens of thousands marching. Workers are demanding wage increases President Toledo promised them during his election campaign, but which he has now agreed with the IMF to shelve.
Interest rate cuts, designed to bolster investor confidence, failed to stop world stock markets from sliding today as the prospect of recession hung over Europe and the US.
When everyone else sells shares in panic, the Norwegian government is purchasing. Since the global financial crisis went into earnest eight weeks ago, the state's two pension funds bought shares of companies on the Oslo Stock Exchange for over 12
A New York federal judge blocked Argentina from transferring out of the U.S. investments held by its pension funds, granting a request by bondholders holding a $553 million judgment against the South American country.
Russia's president says the United States is to blame for the global financial crisis -- and presents his case in an online preview of his state-of-the-nation speech.
Argentina's government pressed forward with its plan to nationalize $30B in private pension funds, laying out investment guidelines for the funds it wants to seize and lobbying Congress to approve the proposal.
British Prime Minister Gordon Brown expects Saudi Arabia to contribute to the International Monetary Fund's bailout reserves after he promised business leaders in the Gulf that they would have a say in any future new world economic order.
"In this promising new century, we are still seeing naked, heartless aggression _ whether it comes from a terrorist bombing in Islamabad or a Russian invasion of Georgia. We can lament these developments, but we cannot hide from them," Murd
Reports from the Russian media suggest that the country is on the verge of an agreement with China to renounce the US dollar and stop using it in international settlements.
(I received this letter from a friend that splits his time between Arizona and New Zealand. Maybe you can help me come up with the word he is looking for) Funny...and perhaps in the U.S.'s not-too-distant future. However it isRead Letter
“We now clearly see the defectiveness of the monopoly in world finance and the policy of economic selfishness. Russia will to take part in changing the global financial structure so that it will be able to guarantee stability and prosperity..."