Finance News, Saturday 24th September 2011
Thai rice scheme causes price uncertainty
A populist policy aimed at boosting the incomes of Thai farmers has raised fears of global rice price turbulence- and experts say the kingdom could just be hurting itself.Thailand- the worlds biggest ... ...Sat 24th September 2011 - 11:23pm
Kuwait court annuls Zain telecom meeting- election
A Kuwaiti court on Sunday annulled a general assembly meeting and election of the board of directors of telecoms giant Zain- saying they were legally flawed- a lawyer said.The court acted on a lawsuit ... ...Sat 24th September 2011 - 11:14pm
IMF pledges action amid global concern on EU crisis
The International Monetary Fund pledged firm collective action Saturday as warnings surged from around the world over a possible European economic meltdown.With calls for the European Union to move coming ... ...Sat 24th September 2011 - 10:11pm
Global jitters could hit surplus hopes- Australia
Australian Treasurer Wayne Swan sounded caution over Canberras plans to return to surplus next year- warning that Europes debt fears had delivered a huge hit to global confidence.Swan ... ...Sat 24th September 2011 - 09:39pm
IMF pledges action on EU crisis
The International Monetary Fund has pledged firm collective action as warnings surge from around the world over the possibility of a European economic meltdown.With calls for prompt action by the European ... ...Sat 24th September 2011 - 08:35pm
Police arrest 80 Wall Street protestors
At least 80 people protesting in New York against the US financial system and Wall Street practices were arrested in the first big crackdown since demonstrators began camping on city streets a week ago.About ... ...Sat 24th September 2011 - 08:17pm
Southeast Asia sets up fund in integration step
Southeast Asian nations launched a nearly 500 million fund to build infrastructure- pooling resources in hopes of closing the gap between the dynamic region and major wealthy economies.In a step toward ... ...Sat 24th September 2011 - 05:32pm
Southeast Asia sets up fund in integration step
Southeast Asian nations launched a nearly 500 million fund to build infrastructure- pooling resources in hopes of closing the gap between the dynamic region and major wealthy economies.In a step toward ... ...Sat 24th September 2011 - 04:51pm
IMF pledges action amid global concern on EU crisis
The International Monetary Fund pledged firm collective action Saturday as warnings surged from around the world over a possible European economic meltdown.With calls for the European Union to move coming ... ...Sat 24th September 2011 - 01:41pm
UBS says CEO Oswald Gruebel resigns
Swiss banking giant UBS says chief executive Oswald Gruebel has handed in his resignation- which was accepted by the board of directors.Sergio Ermotti has been named as interim CEO effective immediately- ... ...Sat 24th September 2011 - 11:50am
Russia- Ukraine leaders tackle gas row
Russias ruling tandem of Vladimir Putin and Dmitry Medvedev held rare joint talks Saturday with the visiting leader of Ukraine over the two sides festering energy row.The meeting with Ukrainian ... ...Sat 24th September 2011 - 11:38am
UBS chief resigns over loss
UBSs chief executive Oswald Gruebel has resigned over a US2.3 billion A2.36 billion rogue trading loss- the bank says.The move ends days of speculation about whether Gruebel could retain his position ... ...Sat 24th September 2011 - 11:15am
Portugal revises growth forecasts for 2011 and 2012- report
Portugals prime minister said Saturday he anticipated better than expected economic performance in 2011- but that the outlook for 2012 was gloomier than previously forecast- Dow Jones Newswires reported.Pedro ... ...Sat 24th September 2011 - 10:34am
IMF pledges action as world presses over EU crisis
The International Monetary Fund pledged firm collective action Saturday as warnings surged from around the world over the possibility of a European economic meltdown.With calls for prompt action by the ... ...Sat 24th September 2011 - 10:25am
Portugal revises growth forecasts for 2011 and 2012- report
Portugals prime minister said Saturday he anticipated better than expected economic performance in 2011- but that the outlook for 2012 was gloomier than previously forecast- Dow Jones Newswires reported.Pedro ... ...Sat 24th September 2011 - 10:21am
Hong Kongs first Apple store mobbed
Apple Inc has opened its long-awaited first store in Hong Kong- with thousands of fans of the computer and gadget-maker pouring in on the first day.Some Apple enthusiasts had camped out for nearly two ... ...Sat 24th September 2011 - 09:20am
Galilee mine seen as job booster
A new coalmine in central Queenslands Galilee Basin could generate 6000 jobs during construction and 1500 places during the mines life- the state government says.More details on Waratah Coals ... ...Sat 24th September 2011 - 08:08am
IMF says eurozone to do all necessary to resolve crisis
The IMF said Saturday that the countries of the eurozone would do everything needed to overcome their crisis.The 17 euro countries have pledged they will do whatever is necessary to resolve the euro-area ... ...Sat 24th September 2011 - 08:07am
US steps up pressure for European firewall
The United States ramped up pressure on Europe Saturday to take swift action to contain the eurozone debt crisis- warning that the entire global economy is at stake.Sovereign and banking stresses ... ...Sat 24th September 2011 - 06:36am
Advanced nations cant control world economy- Brazil
Advanced countries can no longer manage global economic stability by themselves- Brazils finance minister- Guido Mantega- told the International Monetary Fund on Saturday.The current world situation ... ...Sat 24th September 2011 - 06:07am
Italys rating downgrade may speed up austerity plan
German Finance Minister Wolfgang Schaeuble said on Saturday he hoped that a recent downgrade of Italys debt would spur Rome to speed up implementing its recently adopted austerity measures.The ... ...Sat 24th September 2011 - 05:50am
News Corp faces new legal claims
New allegations about the phone-hacking scandal have hit News International- the British subsidiary of News Corp- with claims of more victims and fresh legal rows.It has been revealed that former News ... ...Sat 24th September 2011 - 05:28am
EU July 21 pact to be ratified by mid-Oct- Rehn
The July 21 deal on a second Greek bailout and expanding the eurozone emergency fund will be ratified by member states by mid-October- EU monetary affairs chief Olli Rehn and a spokesman said Saturday.We ... ...Sat 24th September 2011 - 05:03am
UBS chief Oswald Gruebel quits after trading scandal
Swiss banking giant UBS announced on Saturday the resignation of chief executive Oswald Gruebel- less than two weeks after the bank was rocked by a rogue trading scandal that lost it 2.3 billion.Switzerlands ... ...Sat 24th September 2011 - 04:58am
US calls for European firewall against contagion
The United States has ramped up pressure on Europe to take swift action to contain the eurozone debt crisis- warning that the entire global economy is at stake.Sovereign and banking stresses in Europe ... ...Sat 24th September 2011 - 04:33am
EUs July 21 bailout deal ratified by end-Sept- Rehn
The July 21 EU deal on a second Greek bailout and expanding the eurozone emergency fund will be ratified by member states by the end of this month- EU monetary affairs chief Olli Rehn said Saturday.We ... ...Sat 24th September 2011 - 04:31am
Loan bailout delay costing Greece dearly
Delay in the disbursement of EU-IMF rescue funds has forced Greece to resort to costly treasury bill issues that cannot continue for long- Greek financial daily Naftemboriki reported on Saturday.Athens ... ...Sat 24th September 2011 - 04:27am
Europe finance chiefs defend crisis action
Europes finance chiefs defended their approach in addressing the debt crisis as pressure built from markets and other regions to take action to prevent it from snowballing.With the US and eurozone ... ...Sat 24th September 2011 - 04:05am
US calls for European firewall against contagion
The United States on Saturday urged Europe to create a firewall against further contagion from its public debt crisis and banking strains- saying they threatened the global economy.Sovereign and ... ...Sat 24th September 2011 - 03:52am
UBS says CEO Oswald Gruebel resigns
Swiss banking giant UBS announced Saturday that chief executive Oswald Gruebel has handed in his resignation- which was accepted by the board of directors.Sergio Ermotti has been named as interim CEO effective ... ...Sat 24th September 2011 - 03:07am
News Corp faces new legal claims
New allegations about the phone-hacking scandal have hit News International- the British subsidiary of News Corp- with claims of more victims and fresh legal rows.It has been revealed that former News ... ...Sat 24th September 2011 - 02:45am
Europe finance chiefs defend crisis action
Europes finance chiefs defended their approach in addressing the debt crisis as pressure built from markets and other regions to take action to prevent it from snowballing.With the US and eurozone ... ...Sat 24th September 2011 - 02:22am
Forest contractors still waiting for compensation
There is anger the timber company- Gunns and Forestry Tasmania have received payouts under the Intergovernmental Forest Agreement but contractors are still waiting to apply for compensation.The two companies ... ...Sat 24th September 2011 - 02:11am
Italys rating downgrade could speed up austerity plan
German Finance Minister Wolfgang Schaeuble said Saturday he hoped that a recent downgrade of Italys debt would spur Rome to speed up implementing its recently adopted austerity measures.The ... ...Sat 24th September 2011 - 02:06am
US investor Icahn abandons bid for Clorox
Billionaire investor Carl Icahn has abandoned his efforts to take control of the board of cleaning products giant Clorox- acknowledging he did not have enough support to push his bid forward.Icahn- who ... ...Sat 24th September 2011 - 02:01am
Leaders struggle to calm recession fears
The worlds economic powers are struggling to get on top of a European debt crisis that is threatening to dump the global economy back into recession.Officials gathered for three days of discussion ... ...Sat 24th September 2011 - 01:50am
ArcelorMittal says India a growth target
The worlds largest steelmaker ArcelorMittal says India and Brazil are immediate growth targets for the company.We expect continued growth in steel consumption in the developing world- ... ...Sat 24th September 2011 - 01:49am
WA commodity sales top 100b
Western Australias mineral and resources wealth has reached record levels- with commodity sales topping the 100 billion mark for the first time last year.The record mineral- petroleum and gold sales ... ...Sat 24th September 2011 - 01:32am
UBS chief executive Oswald Gruebel resigns
Swiss banking giant UBS announced Saturday that chief executive Oswald Gruebel has handed in his resignation- which was accepted by the board of directors.Sergio Ermotti has been named as interim CEO effective ... ...Sat 24th September 2011 - 01:23am
Geithner wants decisive signal on eurozone debt
US Treasury Secretary Timothy Geithner has called on Europes leaders to send a decisive signal that they can handle the debt crisis- as pressure builds for action to prevent further eurozone ... ...Sat 24th September 2011 - 01:22am
Philippine Airlines cuts flights- ground crew
Flag-carrier Philippine Airlines said Saturday it would temporarily slash flight frequencies over the next two months as part of a cost-saving programme that would also eliminate 2-600 jobs.Eleven flights ... ...Sat 24th September 2011 - 12:47am
UBS chief executive Oswald Gruebel resigns
Swiss banking giant UBS announced Saturday that chief executive Oswald Gruebel has handed in his resignation- which was accepted by the board of directors.Sergio Ermotti has been named as interim CEO effective ... ...Sat 24th September 2011 - 12:40am
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