LONDON (AFP) — Britain edged ever closer to a recession on Tuesday and the IMF’s top economist warned of a second Great Depression, as stock markets awaited fresh US growth data in the hope of some Christmas cheer.
Britain’s economy shrank by 0.6 percent in the three months to September compared with the previous quarter, against [...]
US seeks 300 billion dollars from Gulf states
United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait’s daily Al-Seyassah reported Thursday.
Quoting “highly informed” sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for [...]
UBS Faces Further $5 Bln Writedowns - Report
Last Update: 9/14/2008 10:01:28 AM
ZURICH (AFP)–Switzerland’s biggest bank UBS AG (UBS) is set to write down a
further $5 billion in assets amid continuing financial turmoil, Swiss weekly
SonntagsZeitung reports Sunday.
The bank will post the loss in the second half of the year and is likely to
inform markets just before [...]
GM To Build World’s Biggest Rooftop Solar Station
Last Update: 7/7/2008 10:31:18 PM
LONDON (AFP)–U.S. automobile giant General Motors Co. (GM) will announce Tuesday
that it will build the world’s largest rooftop solar power station at its biggest
factory in Europe, the Financial Times reported.
Its factory in Zaragoza, northern Spain, will be clad in 183,000 square meters of
solar panels [...]
KIEV (AFP)–Ukraine will pump Libyan oil after an agreement with the country’s
leader Moammar Gadhafi, President Viktor Yushchenko said here Sunday.
“We want Ukraine to produce its own oil in Libya,” Yushchenko told Ukrainian
television network ICTV.
“We have reached an agreement with Gadhafi that one of the four oil fields -
which were given to Ukraine in 2003 and [...]
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