Obama Reported To Consider Tapping Oil Reserve
August 16 2012 7:47 PM
The White House is "dusting off old plans" for a potential release of oil reserves to dampen rising gasoline prices and prevent high energy costs from undermining the success of Iran sanctions, a source with knowledge of the situation said.
Gold Demand Falls To A Two-Year Low; India, China Weigh
August 16 2012 5:40 AM
The demand for gold fell to its lowest level in two years in the second quarter of 2012, as the price rise along with the economic slowdown has deterred major consumers India and China from buying the yellow metal, the World Gold Council said on Thursday.
IEA Sees Oil Demand Growth Slowing Further In 2013
August 10 2012 11:33 AM
Global oil demand growth will fall next year below already very weak levels of 2012 due to a slow-down in economic activity, the west's energy watchdog said on Friday.
Nepal Bans Young Women From Seeking Work In Middle East Over Exploitation Fears
August 09 2012 12:34 PM
In 2010, fifteen Nepali servants committed suicide in Lebanon due to gross abuses.
Pakistan: Half-Million Hard Core Heroin Addicts And Counting...
August 09 2012 11:23 AM
Pakistanis consume heroin valued at $1.2 billion every year.
BREAKING: Italy, Spain Downgraded by DBRS
August 08 2012 12:33 PM
Toronto-based credit rating agency DBRS, Inc. announced today it is downgrading the sovereign credit ratings of the Kingdom of Spain and the Republic of Italy from their current "A (high)" ratings. The rating agency gave Spain's long-term rating a two-notch downgrade to "A (low)." Italy was taken down one notch to "A."
HP Boosts Earnings Estimates After Firings Start
August 08 2012 10:51 AM
Hewlett-Packard Co. (NYSE: HPQ), the No. 1 computer maker, raised its estimates for third-quarter earnings to $1 a share from 94 cents apparently because of higher demand as well as the initial impact of firing 27,000 employees to shave costs.
The Dangerous Roads Of Morocco: Traffic Fatalities Very High In North African State
August 02 2012 10:40 AM
About 4,200 people died in traffic accidents in Morocco in 2011, a 12 percent jump from the prior year, according the nation?s equipment and transportation ministry.
Global Manufacturing Slumps On Lingering Euro Zone Debt Crisis
August 01 2012 2:37 PM
Euro zone Purchasing Managers Index (PMI) numbers continued their 11-month straight contraction, with manufacturing in Italy, Spain and Greece continuing their alarming downward trends.
Despite Oil Reserves And Billions In International Aid, Iraq's Economy Falters
August 01 2012 11:36 AM
The financial situation in Iraq, one of the world's largest reservoirs of crude oil, has become grave.
Iran Sentences Four To Death For Bank Fraud
July 30 2012 12:03 PM
A total of 39 suspects underwent a trial that lasted nearly six months before the verdict was announced.
Syria Boosts Trade With Iran As Sanctions Bite
July 27 2012 8:15 AM
A group of Syrian government officials visited Tehran, one of Damascus’ few remaining allies, to approve the deals.
Iran Launches Domestically-Built Tanker: State Media
July 24 2012 1:52 PM
The tanker was apparently ordered by Iran’s ally, Venezuela.
Indian Economy to Grow at Slowest Pace in 10 Years: Poll
July 19 2012 8:42 AM
India's economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed on Thursday.
US Can Defeat Any Iranian Effort To Block Persian Gulf Oil: US DOD's Panetta
July 18 2012 1:32 PM
The United States has the military capacity to defeat any Iranian attempt to shut down sea commerce in the oil-rich Gulf region and will hold Tehran directly responsible for shipping disruptions, Defense Secretary Leon Panetta said on Wednesday.
A Trillion Dollars And Counting: How Egypt's New President Will Boost Islamic Banking
July 18 2012 6:14 AM
Banking in line with the Koran's prohibition on paying interest is an expanding sector, and the ascent of the Muslim Brotherhood to power in Egypt is going to help it grow faster.
Fed Ready To Do More To Increase Job Growth: Bernanke
July 17 2012 10:52 AM
The head of the world's most powerful central bank said it stands ready to offer additional monetary support to a U.S. economy that has slowed significantly in recent months, U.S. Federal Reserve Chairman Ben Bernanke told lawmakers on Tuesday.
The Chicken And I: How The Humble Poultry Symbolizes Iran?s Economic Disaster
July 17 2012 9:53 AM
Ordinary Iranians are facing long food queues, spiraling inflation and the debilitating effects of Western sanctions on the country?s key oil sector.
Pimco's Bill Gross Says US Is Nearing A Recession
July 17 2012 9:02 AM
Bill Gross, who heads the world's largest bond fund, Pimco, said the United States is approaching a recession, according to a published report Tuesday.
Former Morgan Stanley Strategist Barton Biggs Dies At 79
July 16 2012 9:18 AM
Former Morgan Stanley global market strategist Barton Biggs died on Sunday, according to an internal firm memo, The Wall Street Journal reported Monday.