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Economy - International

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BusinessWeek

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

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CNBC.com

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.

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Rawstory.com

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.

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Reuters

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.

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Bloomberg

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

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Blog On Cherry

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)

News Link • Global Reported By Trouser Chili
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Huffingtonpost.com

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.

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Netsnacks

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

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Bloomberg

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.

News Link • Global Reported By Trouser Chili
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AP

"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

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PrisonPlanet.com

“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..."

PirateBox.info