ECB opens door to rate cut as Trichet heads to crisis talks
FRANKFURT, October 3, 2008 (AFP) – The European Central Bank has opened the door to a rate cut in the coming months as its president Jean-Claude Trichet …
World
US Senate approves economic bailout plan
WASHINGTON, October 2, 2008 (AFP) – The US Senate on Wednesday approved a 700-billion-dollar Wall Street bailout package by a vote of 74-25 amid a …
Oil prices at 99.76 in Asian trade
SINGAPORE, October 2, 2008 (AFP) – World oil prices were up more than one dollar in Asian trade on Thursday shortly after the US Senate approved a …
Pirates shine spotlight on Ukraine’s arms-trafficking trade
KIEV, October 2, 2008 (AFP) – The pirate hijacking of a Ukrainian cargo ship loaded with tanks off Somalia has refocused attention on arms-trafficking by …
Belgian customs seize record haul of fake pills, from India
BRUSSELS, October 2, 2008 (AFP) – Customs authorities at Brussels airport have seized over two million counterfeit medical pills from India which were …
US Senate to vote Wednesday on bailout package
WASHINGTON, October 1, 2008 (AFP) – The US Senate will vote Wednesday evening on a revised 700 billion dollar Wall Street bailout, after the House of …
US tweaks ‘fair value’ accounting rules amidst illiquid markets
WASHINGTON, September 30, 2008 (AFP) – US regulators Tuesday offered new guidelines aimed at easing accounting rules blamed by some analysts for …
French PM says banks vulnerable, but state will step in
PARIS, September 30, 2008 (AFP) – French Prime Minister Francois Fillon has warned in an interview to appear Wednesday that the country’s banks are …
Privatization of first US airport could bank 2.5 billion dollars
CHICAGO, September 30, 2008 (AFP) – The privatization of the first major US airport could net the city of Chicago 2.5 billion dollars, officials said …
World awaits action after US rejects bailout
WASHINGTON, September 30, 2008 (AFP) – Treasury Secretary Henry Paulson warned US lawmakers they had to act fast after the House rejected his …
Europe scrambles to save banks from meltdown
PARIS, September 30, 2008 (AFP) – As the shockwave from the US financial meltdown battered Europe on Tuesday, governments scrambled to shore up fragile …
Markets dive after US lawmakers reject financial bailout
NEW YORK, September 29, 2008 (AFP) – Global markets panicked Monday after US lawmakers rejected a 700-billion-dollar rescue of the financial system, …
Drama as American people say no to Wall Street bailout
WASHINGTON, September 29, 2008 (AFP) – Shocked, open-mouthed and fearful US lawmakers stood in the well of the House of Representatives Monday, …
Dollar gains despite rejection of bailout plan
NEW YORK, September 29, 2008 (AFP) – The euro and the pound slid against the dollar Monday after the rescue of several European banks deepened worries …
Asian stocks dive as panic sweeps global markets
TOKYO, September 30, 2008 (AFP) – Stocks plunged in Asia Tuesday as fears of escalating financial turmoil triggered panic selling on world markets after …
Spanish bank to buy Bradford & Bingley savings as nationalisation looms
LONDON, September 28, 2008 (AFP) – Spanish banking giant Santander said Monday it will take over the retail deposits and branches of Bradford & …
Belgium, Luxembourg, Netherlands partially nationalise Fortis
BRUSSELS, September 28, 2008 (AFP) – The Belgian, Dutch and Luxembourg governments agreed Sunday to partially nationalise Fortis in a 11.2 billion euro …
US lawmakers put hastily agreed bailout bill on Internet
WASHINGTON, September 29, 2008 (AFP) – US lawmakers Sunday posted on the Internet their hastily-crafted draft legislation to rescue the country’s …
Russia acts to secure Indian defence market
NEW DELHI, September 29, 2008 (AFP) – Russia on Monday offered its Cold War ally India the chance to jointly develop weapon systems in a bid to remain …
Berlin helps bank rescue lifeline for property lender
BERLIN, September 29, 2008 (AFP) – Berlin has joined a consortium of banks to rescue a stricken property lender, the government said on Monday, in the …