Last month, German bank WestLB rolled out a new “Islam-compliant” investment product named the Islamic Strategy Index Certificate. The value of the certificate is based on the value of the WestLB Islamic Deutschland Index, consisting of shares of ten
Recovery is illusory
We all know black market goods are available all over the world, but what you may not know is that if you add up all revenue generated from un-taxed business it would equal the second largest economy of the world, behind only the United States.
Thanks to movies and television shows, swiss banking has become virtually synonamous with secrecy and shady dealings.
German Chancellor Angela Merkel told Greece on Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day.
The experiences of countries such as South Korea and China that have successfully modernized their economies show that a push from the state is necessary. We are also counting on the active participation of Russian capital in the privatization and fu
(Reuters) - Greece's coalition parties must tell the European Union by Monday whether they accept the painful terms of a new bailout deal as EU patience wears thin with political dithering in Athens over implementing reforms.
The creation of the euro zone may have given participants one currency, but it created other problems as well. One interest rate was supposed to fit all. Those sovereigns on the financial periphery of the 17 nations found low interest rates too good
International Currency - China - Energy - Weather... (you know.... all that, 'we rule the planet stuff')
An appellate court has upheld a lower court decision that ordered American treasure-hunter Odyssey Marine Exploration to return to Spain some 594,000 gold and silver coin valued at roughly $500 million recovered on the ocean floor from a sunken Spani
Charles Goyette of American Breaking Point and international bestselling author of ‘The Dollar Meltdown’ joins Daily Paul Radio with Kurt Wallace for ‘Iran and India; Oil for Gold’ to discuss the impact of a direct exchange between India and Iran
European leaders at a summit in Brussels said a final debt deal could be signed off in the coming days, together with a second multibillion-euro bailout package designed to save the country from a potentially disastrous bankruptcy.
Venezuelan President Hugo Chavez warned private banks on Sunday that he will consider nationalizing any that refuse to finance agricultural projects promoted by his government.
Plenty of champagne flowed in this alpine ski resort - but the atmosphere was flat and the bubbling enthusiasm of some past World Economic Forums was noticeably
Greece’s finance minister angrily rejected a German plan for the eurozone to impose a budget overseer onto Athens in return for a new €130bn bail-out, saying it would improperly force his country to choose between “financial assistance” and “national
In Fitch's opinion, the eurozone crisis will only be resolved as and when there is broad economic recovery. It is evident that further substantial reforms of the governance of the eurozone will be required to secure economic and financial stability,
Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years. In a statement, the ratings agency said the affected countries were
Global Main Street Depression
George Soros explains why his fund bought 2 billion dollars of MF Global Italian bonds - and why he would buy even more. The secret sauce: Deflation. That, Soros tells Chrystia Freeland, will give Italian bonds a fantastic yield, even though it shows
European business leaders were the most pessimistic, amid fears governments are not up to the task of resolving their debt crises and concerns about the stability of capital markets, the firm said at the ski-resort summit.
Main Street Americans and Europeans face protracted Depression.
Capitalism is out of whack, the founder of the World Economic Forum says, welcoming critics' ideas of how to fix it — even those camped out in protest igloos near his invitation-only gathering of global VIPs.
Euro zone finance ministers Monday rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the threat of Greek default. At a meeting in Brussels, m
"European policy makers at Davos will keep doing everything possible to try to calm markets," said William Browder, founder of London-based Hermitage Capital Management and a Davos attendee for 12 years. "People are still petrified."
Economic and political elites meeting this week at the Swiss resort of Davos will be asked to urgently find ways to reform a capitalist system that has been described as "outdated and crumbling."
The EU just isn't working. What a mess. Who could have foreseen it?
MILAN: Italian Prime Minister Mario Monti's government on Friday adopted a structural reform programme aimed at breathing new life into a debt-stricken economy, but which has already met heavy opposition.
In recent days, the fact that Mitt Romney has millions of dollars parked down in the Cayman Islands has made headlines all over the world. But when it comes to offshore banking, what Mitt Romney is doing is small potatoes.
The only question is whether it is going to be an orderly default or a disorderly default. Of course the EU (led by Germany) could save Greece financially if it wanted to. But Germany has decided against that course of action. agreed upon.
These days, with a crisis atmosphere growing in the Persian Gulf, a little history lesson about the U.S. and Iran might be just what the doctor ordered.