Canadian growth shrank 0.3% in the first quarter, as a wrenching restructuring in the manufacturing sector hobbled an economy half-way in recession.
It was the first decline in annualized growth in nearly five years and the weakest in the Group of Seven, behind the United States, Britain, Europe and even Japan.
“This is a bitterly disappointing and [...]
The economy grew at an annualized rate of 5.4 percent in the first three months of the year, racing ahead of the gloomy growth outlooks issued by the Bank of Israel and the Finance Ministry.
“The positive data is an indication for how well the Israeli economy can cope amid a global financial crisis,” Finance Minister [...]
Mozambique expects foreign direct investment to climb 30 percent in the next four years as the economy expands, Finance Minister Manuel Chang said.
Investment will probably reach $450 million this year and $560 million by 2011, compared with $430 million in 2007, Chang said in an interview in Maputo, Mozambique today. Agriculture and tourism are likely [...]
Finance Minister Ibrahim Al-Assaf said yesterday that the Kingdom is setting up an SR20 billion investment firm that may be open to partners. The company will draw its capital from the General Investment Fund and would offer attractive opportunities in the Kingdom with low risks to foreign investors.
Speaking at the inauguration of the Euromoney Saudi [...]
Serbia and Italian car maker Fiat signed on Wednesday a memorandum of understanding, which envisages strategic cooperation and joint investment to produce new cars in Serbia’s state-owned Zastava car plant.
“Fiat has ambitions to start production of a completely new model in Zastava by 2009,” Investment Opportunity said Serbian Minister of Economy Mladjan Dinkic, who signed [...]
April 1 Prime Minister Gordon Brown said the U.K. government will help first-time homebuyers and take steps to combat a surge in credit costs, the latest effort to regain voters’ confidence in his handling of the economy.
Brown said Britain has asked global financial regulators to meet more regularly and for banks to disclose losses more [...]
LONDON, March 28 (Reuters) - Britain’s FTSE 100 index .FTSE is seen
opening 7-28 points lower on Friday, according to financial bookmakers, having
closed up 57.1 points, or 1 percent at 5,717.5 in the previous session.
The UK’s blue-chip index looks set to open the week’s final session a little
softer, traders said, [...]
BEIJING (AP) — The head of the Organization for Economic Cooperation and Development said Tuesday there is no need to restrict investments by government funds so long as they are motivated by profit, not politics.The OECD, a 30-nation group of the richest economies, has found no cases where such sovereign wealth funds have acted to [...]
South Korean Won, Taiwan Dollar Advance After Fed Lowers Rate
By Lilian Karunungan
March 19 (Bloomberg) — South Koreas won and the Taiwan
dollar rose on speculation the Federal Reserves cut in the
benchmark interest rate will boost investor appetite for higher-
yielding assets in [...]
MUMBAI, March 16 (Reuters) - State Bank of India (SBI.BO: Quote, Profile, Research),
India’s largest bank, has suffered a loss of 10 million rupees
($250,000) in the overseas credit derivatives market, the
Sunday Business Standard newspaper said on Sunday.
The newspaper quoted India’s junior finance minister Pawan
Kumar Bansal as saying the state-run bank’s [...]
