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Vietnam cut the benchmark interest rate for the third time in a month to protect the economy against the global financial crisis.
The central bank reduced the key rate to 11 percent from 12 percent, effective tomorrow, according to an e-mailed statement from the State Bank of Vietnam. Policy makers also trimmed the refinancing […]
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U.K. unemployment rose the most in 16 years last month, and Prime Minister Gordon Brown's government said the nation should prepare for worse as the economy heads for its first full-year contraction since 1991.
The number of people receiving jobless benefits rose 36,500 to 980,900, the highest level since March 2001, the Office for […]
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Insurance companies may be next to get capital from the government as part of the $700 billion bailout approved by Congress, but The Travelers Cos. won’t be one of them.
The St. Paul insurer sent a letter Tuesday to Treasury Secretary Henry Paulson to inform him that it would neither seek nor accept any money under […]
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Access to credit is the lifeblood of maritime trade and the credit crunch has largely cut off that supply, threatening to weed out weaker shippers and shipyards, as well as hamper global trade.
“The credit crisis has made banks nervous and the last thing on their minds is making fresh loans,” said Omar Nokta, an […]
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Australia's central bank pumped extra liquidity into the banking system and Prime Minister Kevin Rudd said the nation's regulations are strong enough to give customers “certainty'' after lenders' shares plunged.
Rudd said Australia is aiming to ensure “the liquidity of the financial system,'' just as the U.S. government's takeover of American International Group Inc. […]
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American International Industries Inc. has agreed to purchase a subsidiary of Shumate Industries Inc. for about $6.7 million.
The Kemah-based holding company will buy Shumate Machine Works Corp. which will become a wholly owned subsidiary called Shumate Energy Technologies Inc.
The deal is scheduled to close Oct. 1,
Shumate currenly operates out of a 30,000-square-foot manufacturing facility in […]
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South African central bank Governor Tito Mboweni said he will remain in his position next year after his term ends if he is asked to.
“I will complete my current term, '' Mboweni told reporters in Pretoria today. “If asked to serve, I will.''
The president selects the governor and his deputies for five- […]
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Turkish consumer confidence probably rose in July for the first month in seven as the ruling party escaped being outlawed by the Constitutional Court, according to an economist at Fortis Bank AS.
“Everything's pointing to a likely recovery in July,'' said Haluk Burumcekci, chief economist at the Turkish unit of the Belgian financial-services firm. […]
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Jewelry house Tiffany & Co. appealed a ruling by a federal district court that online auction house eBay Inc. does not have legal responsibility to keep its users from selling counterfeit items.
Judge Richard Sullivan of Federal District Court in Manhattan made the ruling in July in the closely watched case involving San Jose, Calif.-based eBay […]
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South Korea said it will sell or merge 41 of the nation's 319 state-owned companies as part of President Lee Myung Bak's pledge to make government-run firms more competitive.
The plans include selling a 49 percent stake in Incheon International Airport Corp. and part of Industrial Bank of Korea and its affiliates, the finance […]
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