The Labour government’s plan to halve the budget deficit over four years will soothe market concerns about Britain’s debt burden, finance minister Alistair Darling told reporters in an interview on Thursday. Government bond futures fell sharply, however, a day after Darling delivered a pre-budget report that shied away from detailing exactly how he plans to…
An International Monetary Fund team will visit Dubai in coming weeks to look closer at the economic impact of the Dubai World debt crisis and actions needed to resolve it, a senior IMF official said on Monday. In an interview with reporters, IMF Director for the Middle East and Central Asia Masood Ahmed said the…
Bolivia’s President Evo Morales wants to launch state-run paper and cement ventures and develop lithium, petrochemical and iron projects in his second term but a lack of foreign investment and know-how could hamper his ambitious plans. Leftist Morales won 63 percent of the vote in an election on Sunday to run the energy-rich but economically…
OPEC is expected to hold output steady when it meets in Luanda at the end of this month, rounding off a year of stable production policy and of robust oil prices. Oil inventories are brimming and any recovery in demand is expected to be slow, but international benchmark U.S. crude futures have more than doubled…
Lamborghini expects to post a roughly 35 percent slide in 2009 sales as the global economic downturn slams the brakes on spending from even the super-rich, with growth likely to pick up again only in 2011. Next year will remain challenging for the maker of supercars graced by a charging bull logo, a unit of…
Finding the right mobile home park broker for the purchase or sale of a mobile home park will increase your chances of obtaining the best sale price and terms. An active park specialist will have current and intimate knowledge of the wide range of issues and negotiations that arise through the due diligence process. This…
Hopes China’s Tengzhong will complete the deal to buy General Motor’s Hummer brand as early as this week appear unlikely to be fulfilled, with the regulator tasked with assessing the deal yet to receive a formal application, according to a regulatory source. Nearly two months have passed since GM signed a deal to sell its…
Spain’s registered jobless rose for the fourth consecutive month in November official data showed on Wednesday, and was seen edging higher as the recession weighs and a multi-billion euro stimulus package loses steam. The Spanish economy is not expected to emerge from recession until next year as it reels from the collapse of a decade-long…
Dubai nationals were alarmed by the fallout from the emirate’s debt standstill, but many hope the crisis may stem the torrent of foreigners into the conservative Gulf Arab city, where locals are outnumbered ten to one. The freewheeling emirate, one of seven that form the United Arab Emirates, sent jitters through global markets last week…
Siemens AG has struck a deal with former Chairman Heinrich von Pierer on payments for part of costs of a corruption case, paving the way for an amicable ending to the biggest bribery scandal in the country. Two sources familiar with the matter told reporters on Tuesday that Siemens has agreed to reduce the amount…
