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HuaweiFinance ministers of the Group of Seven and other economic powers will talk by phone later Tuesday on the eurozone crisis and the threat it poses to the world economy, several official sources said.
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The Paris Bourse stock exchange has lost 2.3 million participants since the end of 2008 as the financial crisis turns people off investing, a study by firm TNS-Sofres-SoFia said on Tuesday.
Weak manufacturing activity in China and dismal growth data from India have underscored Asia’s vulnerability to the European turmoil and sparked fresh calls for government intervention.
A sharp fall is expected in the growth of industrial sectors such as textile machinery, cement and fertiliser in the April-June quarter owing to the rupee’s depreciation, high inflation and fiscal deficit, a study said on Sunday.
China’s non-manufacturing industries expanded at a slower pace for a second month, as export orders declined and weakness in real estate countered strength in retailing and leasing, an official survey indicated.
Italy’s Prime Minister Mario Monti believes eurobonds, a contested tool proposed as a way of alleviating the eurozone crisis, will eventually become reality, he told a Greek newspaper on Sunday.
DUBAI - EFG-Hermes Holding SAE, the biggest publicly traded Arab investment bank, rejected a $1.1 billion bid from an Egyptian company backed by billionaire Naguib Sawiris in favour of a venture with Qatar’s QInvest.
Oman’s Ministry of Commerce and Industry has approved the merger of Oman In-ternational Bank,or OIB, and the Oman operations of HSBC Bank Middle East Limited, an indirect wholly-owned subsidiary of HSBC Holdings.
DUBAI/CAIRO - Dubai’s shares fell to the lowest level in more than four months on concern Europe’s debt crisis is worsening and a slowing global economy will damp demand for oil from the Arabian Gulf. Egypt’s benchmark index retreated.
For long, India’s policymakers took sturdy economic performance for granted. Double digit growth that would propel the country to economic super power status was almost regarded as preordained. The bubble is now being burst rather cruelly.