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HuaweiW ith a single bold action, the Reserve Bank of India, or RBI, has silenced its critics, regained initiative and set a tough agenda for banks and government before they can ask it to do more.
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The central bank has come under cross fire by two opposing groups—businessmen and bankers—over its latest monetary policy and a high discount rate.
The 17 countries that use the euro still face an uphill struggle to control their debts in spite of managing to slash government deficits to 4.1 percent of economic output in 2011, official data show.
Ford unveiled a three-cylinder mini-SUV and Chrysler showed a dragon-theme Jeep on Monday as automakers rolled out models designed for Chinese buyers at the Beijing auto show amid tougher competition in the world’s biggest vehicle market.
Ford Motor Co plans to introduce vehicles in China that will be priced below its current low-price Fiesta model, the company’s chief of Asia operations said on Monday.
Aircraft engine maker Rolls-Royce on Monday said it had won a contract worth $598 million (454 million euros) to supply the US military with 268 V-22 aircraft engines.
Finance ministers and central bankers hope a $430 billion-plus increase in assistance for the International Monetary Fund is enough to handle any fresh crisis among the 17 nations that share the euro as their currency.
ABU DHABI — Abu Dhabi’s public sector industrial conglomerate, the General Holding Corporation (GHC), bucked the global economic trends by earning 15 per cent more profit in 2011 over the same period a year ago.
ABU DHABI — General Holding will spend Dh5.8 billion in three to four years to expand its steel capacity and set up a seamless pipe, and aluminium extraction unit in the emirate to boost its industrial might.
The International Monetary Fund has wrapped up meetings here with its coffers to fight the eurozone crisis $430 billion richer.