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Archives by Year:
Grand US deficit-cutting effort ends with whimper
The Republican and Democratic leaders of a 12-member congressional “super committee” are set to declare defeat in a joint statement to be released after three months of talks failed to bridge deep divides over taxes and spending. After a year of bruising budget battles, it is another sign that U.S. lawmakers are too entrenched to […]
German unemployment rockets
For the first time since 2009, unemployment in Germany is on the increase. While the increase was minimal, the upward shift was enough to raise concerns about what will happen in the coming months. With internal factors within Germany’s economy, as well as issues that have to do with what is happening in the Eurozone, […]
Abdel Rahim al-Keeb and the new Libya
On October 31, Libya gained a new interim president that has proven to be a surprise for those watching the elections. Dr. Abel Rahim al-Keeb, a 61-year old professional with a background in education, electronics and politics was named as interim prime minister by the National Transitional Council. Born to parents living in Sabratha, al-Keeb […]
Kyrgyzstan may close Bishkek, worries abound for trade opportunities
Newly elected president of Kyrgyzstan, Almazbek Atambayev, has made it clear that there is no desire to renew the lease on the US military base located in Bishnek when it expires in 2014. While past leaders, including Kermanbek S. Bakiyev, also balked at continuing to allow an American base to operate in the country, negotiations […]
Virgin Money buys Northern Rock for £747m
Northern Rock, the nationalised British bank, has become on Thursday the first bailed out lender in the UK to be sold back to the private sector, according to the treasury. The British government has given the go-ahead for the £747m loss-making deal with Richard Branson’s Virgin Money almost four years after Northern Rock’s near collapse. […]
Shell exits Kurdistan talks to protect $17bn Iraq deal
Royal Dutch Shell has allegedly withdrawn from oil development talks with the Kurdistan regional government in an attempt to protect its southern Iraq investments, according to the Financial Times. The FT speculates that Shell pulled out of talks in the hope of saving a possible $17bn natural gas deal which the Iraqi government cleared on […]
Eurozone growth lagging behind
Growth in Europe almost came to a halt in the 3Q11 with a weak 0.2 percent increase, the same pace as in 2Q11, according to data released by Eurostat late on Tuesday. GDP growth was driven by Germany, Europe’s largest economy, which rose 0.5 percent in the third quarter due to stronger company and consumer […]
UBS names Ermotti CEO
UBS on Tuesday confirmed Swiss-national Sergio Ermotti as permanent CEO with immediate effect. The appointment comes just two months after Ermotti was named interim CEO when Oswald Grübel stepped down in September following an alleged $2.3bn rogue trading incident at the bank. The group announced that chairman Kaspar Villiger will stand aside a year earlier […]
Russia opposes Syria’s suspension from Arab League
Russia opposes the Arab League’s decision to suspend Syria and believes Western nations are inciting opponents of President Bashar al-Assad to seek his removal, Foreign Minister Sergei Lavrov was quoted as saying on Monday. Russian news agencies said Lavrov had also reiterated Moscow’s opposition to any new international sanctions on Iran over its nuclear programme […]
Photovoltaics attracts investors
Photovoltaics is a term that is used to describe the technology required to convert sunshine into electricity that can be stored and ultimately used as an energy source for a number of different applications. As interest in alternative energy production has increased, investors who are attracted to the idea of getting in on the ground […]
