OPEC Oil Price Jumps By More Than 4 Dollars
Monday, January 5, 2009 at 5:24 pm
Vienna: The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) jumped by more than 4 dollars at the end of last week, the Vienna-based cartel announced Monday. One barrel (159 litres) of OPEC-produced crude stood at 39.95 dollars on Friday, up from 35.58 dollars on the previous Wednesday. One of the factors behind the price hike... Read more »
Asian Stocks Rally on Economic Recovery Hopes
Monday, January 5, 2009 at 12:31 pm
TOKYO: Asian stocks rose on Monday, with Tokyo hitting the highest level for almost two months as investors hoped that the US economy would start to recover this year after a dire 2008. Investors took their cue from Wall Street, where shares soared on Friday on expectations that US president-elect Barack Obama’s massive stimulus plan would help to revive... Read more »
Philippine Share Prices Rise More Than 5 %
Monday, January 5, 2009 at 12:17 pm
Manila: Philippine share prices rose 5.43 per cent on Monday, the first trading day of the year, on expectations the US economy will finally start recovering. The Philippine Stock Exchange’s 30-share composite index gained 101.84 points to close at 1,974.69 from 1,872.85 points on December 24, the last trading day in 2008. A total of 640.93 million shares... Read more »
Pakistan to Seek Waiver From IMF
Monday, January 5, 2009 at 11:51 am
ISLAMABAD: Pakistan will have to seek a waiver from the IMF for missing an ambitious tax collection target of Rs 1,360 billion and achieving net zero borrowing from the central bank in order to receive the second tranche of a loan worth $750 million by the end of March of the current fiscal year, The News has learnt. Highly credible sources in the Ministry of Finance... Read more »
Pakistan in deficit mode over tax collection
Monday, January 5, 2009 at 8:01 am
Pakistan will have to seek a waiver from the IMF (International Monetary Fund) for missing an ambitious tax collection target of Rs 1,360 billion and achieving net zero borrowing from the central bank in order to receive the second tranche of a loan worth USD 750 million by the end of March of the current fiscal year. Highly credible sources in the Ministry of Finance... Read more »
US debt could increase by $2 trillion this year
Monday, January 5, 2009 at 5:01 am
The US national debt is expected to jump by as much as USD 2 trillion this year, thus putting more pressure on the American economy, a leading daily here said today. At present, the country’s debt stands at nearly USD 10.7 trillion. Of this USD 3 trillion is held by foreign investors, with China (USD 652.9 billion) and Japan (USD 585.5 billion)being the top... Read more »
TCS opens development centre in Orissa
Monday, January 5, 2009 at 5:01 am
Though the information technology sector seems to have been hit hard by the global economic meltdown, Tata Consultancy Services (TCS) on Sunday (January 4) affirmed its commitment to the development of new centres of excellence, sharpen the talent pool and boost growth. As a leader in IT sector, TCS makes 1,200 to 1,300 recruitments from about ten engineering colleges... Read more »
Chrysler gets $4 bn aid from US govt
Monday, January 5, 2009 at 2:01 am
US auto major Chrysler today said it has received four billion dollars as emergency loan from the government, a move to avert a collapse of the ailing automaker. “Chrysler received an initial four billion dollar loan to help bridge the current financial crisis,” the company said in a statement. The amount is a part of the 13.4 billion dollar lifeline... Read more »
ICICI Bank does not need IPO: K V Kamath
Monday, January 5, 2009 at 2:01 am
Flush with funds to meet business growth for the current year, ICICI Bank CEO and Managing Director K V Kamath said the bank does not need funds from the IPO market, expected to revive later in the year. “As far as the overall IPO market is concerned I would think the market would really revive only after we see correction that I was talking about in two quarters... Read more »
US debt could increase by USD 2 trillion this year
Sunday, January 4, 2009 at 5:01 am
The US national debt is expected to jump by as much as USD 2 trillion this year, thus putting more pressure on the American economy, a leading daily here said today. At present, the country’s debt stands at nearly USD 10.7 trillion. Of this USD 3 trillion is held by foreign investors, with China (USD 652.9 billion) and Japan (USD 585.5 billion)being the top... Read more »
Headlines from Business News
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- Pakistan Emphatically Rejects Indian PM Accusations
- 10 million Indians will lose their jobs by March
- Asif Zardari and Karzai agree to upgrade bilateral ties
- Pakistan, Afghan agree on joint strategy against terror
- Israeli Strike hits UN school in Gaza, 40 kills
- Zardari reaches Kabul for Regional Peace
- End Blame-Game: Pak Warns india
- Army Manage new Strategy in J&K Encounter
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