Category: World

MUMBAI, September 21, 2008 (AFP) – Indian fuel giant Reliance said on Sunday it would boost domestic oil and gas output by 40 percent over the next 18 months, calling the move a “quantum leap” toward national energy self-sufficiency. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send […]

WASHINGTON, September 21, 2008 (AFP) – The United States is “aggressively” pushing other countries to forge bailouts for their financial institutions similar to the unprecedented 700-billion-dollar rescue it is planning for Wall Street, US Treasury Secretary Henry Paulson said Sunday. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and […]

WASHINGTON, September 21, 2008 (AFP) – Senior US officials and lawmakers were locked in negotiations Saturday over an historic 700-billion-dollar bailout plan for the financial sector in the worst crisis since the Great Depression. Coming on the heels of the unprecedented government rescue of giant insurer American International Group (AIG) and the seizure of mortgage-finance […]

UNITED NATIONS, September 21, 2008 (AFP) – Growing polarization over Georgia, Iran, Kosovo, Darfur or the Middle East is reviving calls for a reform of the United Nations — especially the Security Council, which some say poorly represents today’s world. As the UN General Assembly prepares to kick off its annual general debate this week, […]

LONDON, September 19, 2008 (AFP) – Oil and gold prices bounced higher this week as investors sought a safe haven while other commodities fell on fears that the financial crisis could sap global economic growth and dent demand. However, profit-taking was in evidence Friday as world stock markets soared, driven by hefty gains in the […]

WASHINGTON, September 20, 2008 (AFP) – US congressional leaders, stunned by the depth of the economic meltdown, considered Saturday quick legislative action on a White House-proposed huge financial sector bailout, but demanded help for US workers as well as reeling Wall Street firms. A senior official in the administration of President George W.Bush said the […]

LONDON, September 18, 2008 (AFP) – Britain declared a halt to short-selling — when investors borrow company stock to sell it — on Thursday, and warned it could extend the ban to other financial sectors in order to steady the markets. “While we still regard short-selling as a legitimate investment technique in normal market conditions, […]

WASHINGTON, September 18, 2008 (AFP) – Reports that the US government is preparing the creation of a new entity to rescue troubled financial firms lifted Wall Street Thursday and raised hopes for an end to the credit crisis. US President George W. Bush huddled with the head of the Federal Reserve, Ben Bernanke, and his […]

LONDON, September 19, 2008 (AFP) – Global equity markets soared on Friday, lifted by mammoth share price gains for banks, as governments worldwide stepped up their fight against the worst financial crisis in decades, traders said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The US government […]

TOKYO, September 18, 2008 (AFP) – The dollar fell further in Asian trade Thursday as the US bailout of insurer AIG failed to quell market fears that more victims could emerge from the credit crisis, dealers said. The dollar traded narrowly, changing hands at 104.77 yen in Tokyo morning trade from 104.91 in New York […]

LONDON, September 18, 2008 (AFP) – When Edouard d’Archimbaud, 24, arrived at Lehman Brothers offices in London on Monday he was hoping his move to the British capital would hail the start of a lucrative career in finance. Sadly, it was not to be. The young Parisian, who had struggled to arrive in time for […]

NEW YORK, September 18, 2008 (AFP) – The US Federal Reserve on Thursday threw 180 billion dollars into a global fight against the financial crisis as Wall Street legend Morgan Stanley became the latest name under attack and Britain’s top mortgage lender was forced into a merger.China’s sovereign wealth fund, China Investment Corporation, already owns […]