European finance crisis summit opens in Paris
PARIS, October 12, 2008 (AFP) – European leaders opened a summit in Paris on Sunday to try to agree on decisive measures to confront the global financial …
World
US plans to inject capital into banks: Paulson
WASHINGTON, October 11, 2008 (AFP) – Treasury Secretary Henry Paulson said Friday that the US government planned to invest directly in US banks to …
IMF, World Bank meet amid financial mayhem
WASHINGTON, October 11, 2008 (AFP) – The International Monetary Fund and the World Bank opened their annual meetings Saturday in the midst of global …
Singapore economy in recession
SINGAPORE, October 10, 2008 (AFP) – Singapore’s trade-sensitive economy has declined for a second straight quarter, the government said Friday, …
Asian stocks dive as panic erupts over financial crisis
TOKYO, October 10, 2008 (AFP) – Asian stock markets went into a tailspin Friday, with Tokyo down more than 10 percent as fresh panic erupted over fears …
Crisis talks due in Washington; markets in tailspin
TOKYO, October 10, 2008 (AFP) – The world’s major economies were to hold crisis talks later Friday in an attempt to end a massive sell-off on the …
Golden paydays for bankers are over, lawmakers say
PARIS, October 10, 2008 (AFP) – While governments worldwide have not yet agreed on a solution to fix the current global economic crisis, nearly all agree …
Fear over capital in bank street feeds recession wind in main street
PARIS, October 10, 2008 (AFP) – Businesses needing cash by the end of the month or students seeking a loan for this academic year can expect a hard time …
ADB chief says Asia to fare better than rest of world in credit crisis
TOKYO, October 9, 2008 (AFP) – The global financial crisis will have “considerable” effects on Asia but the region will fare well by world …
Fed announces new $37.8bn cash infusion for AIG
WASHINGTON, October 8, 2008 (AFP) – The Federal Reserve said Wednesday it had authorized a new 37.8-billion-dollar cash infusion into insurance giant …
Global economy in ‘major downturn’ from financial crisis: IMF
WASHINGTON, October 8, 2008 (AFP) – The International Monetary Fund said Wednesday that the global economy was sinking in a maelstrom of financial …
Nervous French savers start gold rush
PARIS, October 9, 2008 (AFP) – The gold merchants of Paris may trade from shops in the shadow of the historic stock exchange building, but their business …
Wall Street lose 500 points to slips to five-year low
NEW YORK, October 7, 2008 (AFP) – Stocks plunged for a second day running on Wall Street on Tuesday, while those in Europe were mixed, on persistent …
US candidates eye Warren Buffett as possible Treasury chief
NASHVILLE, October 8, 2008 (AFP) – Democratic White House hopeful Barack Obama and his Republican rival John McCain Tuesday agreed that one of the …
McCain hits hard but debate lacks game-changer
NASHVILLE, October 8, 2008 (AFP) – John McCain hammered away at unruffled front-runner Barack Obama in Tuesday’s second presidential debate but …
Arab stock markets join global rout
KUWAIT CITY, October 8, 2008 (AFP) – Gulf stock markets tumbled for the fourth day running on Wednesday amid growing fears that policymakers may be …
Icelandic central bank abandons krona peg to euro
REYKJAVIK, October 8, 2008 (AFP) – Iceland’s central bank said Wednesday it was abandoning efforts to shore up the krona, saying there was …
Nationalisations and rescues stepped up in finance debacle
PARIS, October 7, 2008 (AFP) – The EU moved to increase support for big banks as the international finance chaos deepened Tuesday, with Russia setting up …
Fear as Icelandic bank freezes British transactions
LONDON, October 7, 2008 (AFP) – British customers with accounts in the online arm of faltering Iceland’s second-biggest bank voiced alarm after it …
Fed to pay interest on statutory reserves, give printed money for nothing
WASHINGTON, October 6, 2008 (AFP) – The Federal Reserve and the US Treasury, armed with new emergency powers, announced measures Monday to tackle a …