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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.
O il exploration and production operations are facing a slowdown and the their targets are likely to be missed for the third year. The economy needs a massive surge in production of oil, natural gas, and electricity to overcome the ongoing energy crunch.
Global regulators have launched a consultation with the financial services industry to shape new rules on how much banks should set aside to cover the risk of default on uncleared derivatives deals in the $648 trillion market.
The Philippines has tightened rules on capital inflows by prohibiting foreign funds from investing in the central bank’s special deposit accounts, governor Amando Tetangco said on Saturday, after the peso surged to a four-year high.
A Chinese technology company has filed a legal challenge accusing US technology giant Apple of infringing its patented voice-recognition software with its Siri function on the iPhone.
JEDDAH - Saudi Arabian dairy and food producer Almarai posted on Saturday an 8.7 per cent year-on-year rise in its second quarter net profit.
A dispute over sourcing regulations is clouding plans by Sweden’s IKEA to open 25 of its trademark blue-and-yellow stores in India as it seeks new markets for its flat-pack furnishings.
US employers hired at a dismal pace in June, raising pressure on the Federal Reserve to do more to boost the economy and further imperiling President Barack Obama’s chances of reelection in November.
US President Barack Obama said on Saturday the United States needs to do more than just reclaim jobs lost to the recession, as he called for rebuilding the economy to make it secure for future generations.
