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HuaweiLONDON - Gold rose on Tuesday, taking advantage of a drop in the US dollar after top Federal Reserve policymakers warned about the fragility of the economy and after euro zone finance ministers made progress in agreeing on terms of aid for Spain’s banks.
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HONG KONG — Asian markets fell on Tuesday, as weakening demand for imports in China provided new evidence of a slowdown in the region’s biggest economy and investors shrugged off a eurozone bid to help Spain.
TOKYO/LONDON - Mitsubishi UFJ Financial Group has suspended two London-based traders as a result of a probe into the manipulation of interbank lending rates that is affecting a dozen or more major banks around the world.
PARIS — Unifying banking supervision in the eurozone can be done “quickly” and would best be handled by the European Central Bank, Bank of France chief and ECB board member Christian Noyer said on Monday.
LONDON — UK bank Barclays has agreed a resignation package with ex-chief executive Bob Diamond where he will forfeit up to 20 million pounds ($31 million) in bonuses and incentives but receive a year’s salary, pension and other benefits worth 2 million pounds.
Chinese Premier Wen Jiabao says China’s economy faces huge pressure to slow further despite stimulus measures. Wen’s remarks damp hopes for a quick recovery from the country’s deepest slump since the 2008 global financial crisis.
Mergers and acquisition activity in the Middle East surged 45 per cent in the second quarter to $8.5 billion on the previous quarter, marking the strongest quarter since 2010 first quarter, an investment banking analysis shows.
Dolphin Energy Limited, which produces, processes and runs a gas pipeline network through Qatar, the UAE and Oman, on Sunday reported a record net profit of $1.987 billion in 2011, the company’s highest single-year profitability to date.
BMW Group Middle East announced a 13 per cent increase in sales for the first half of 2012 compared to the same period in 2011.
A fter he took charge of the finance ministry, the Prime Minister Dr Manmohan Singh has launched a damage control exercise in right earnest. There has been a slew of announcements intended to revive investor sentiment, reassure foreign investors, boost capital flows, bolster market sentiment and stem the rupee’s slide.