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Colombia seeks 'scam boss' arrest
Colombia asks Panama to arrest and extradite a man suspected of running a collapsed pyramid finance scheme.
2008-11-19 18:02:07
Israel unveils $5 bln stimulus plan
JERUSALEM, Nov. 19 Xinhua -- Israeli Finance Minister ...
2008-11-19 14:14:15
Iceland xA350m meeting 'positive'
A visit to Iceland by finance chiefs from Kent County Council KCC to secure xA350m invested in collapsed banks is described as "positive".
2008-11-19 03:37:33
Take control of your finances
Feeling powerless in an uncertain economy One way to take control is creating a budget.
2008-11-17 20:49:38
Pak turns to 'Friends' for aid to combat financial crisis, Islamist insurgents
Washington, Nov 17 ANI: In the wake of the ongoing recession and economy collapse, Pakistan is learnt to have turned to Britain and 11 other "Friends of Democratic Pakistan" for help to save itself from financial crisis and military defeat by Islamist insurgents, said a report in timesonline.com According to the report, Pakistani officials are in Abu Dhabi today to ask for billions of dollars from "Friends of Democratic Pakistan". The meeting comes just two days after Pakistan agreed to a loan of 7.6 billion dollars from the International Monetary Fund IMF.The likely outcome of the meeting is that the Friends will agree to help Pakistan secure more funds from international agencies such as the Asian Development Bank. To do that, however, Pakistan will have to abide by unpopular IMF conditions, which could precipitate another political crisis. Already the Government is under fire for failing to curb its own profligacy or clarify what strings are attached to the IMF loan. Pakistani officials say they were over the worst of a crisis that had brought them within days of defaulting on foreign debt repayments, and which had threatened to derail a military campaign against Taleban and al-Qaeda militants on the Afghan border. "We have fulfilled our commitment that Pakistan will never default," the report quoted Shaukat Tareen, finance adviser to Pakistan's Prime Minister, as saying. Pakistan's foreign exchange reserves have now plummeted to less than 7 billion dollars, enough to pay for just two months of imports. Its Rupee has slumped by one-fifth this year, the stock market by more than a third, and inflation stands staring at 25 per cent. Rich Pakistanis have exacerbated the crisis by illegally transferring an estimated $10 billion dollars overseas in the past year.Pakistani officials, who have emphasised the economic cost of supporting the War on Terror in recent days, say that they expect good news from the meeting with "Friends", now that the IMF loan has been agreed upon.The "Friends", however, are playing down expectations - not least because of their own pressing financial woes, said the report. "Most people are pretty adamant it's not going to be another donors' conference. It's there to support the democratic process in Pakistan," it quoted a Western official as saying. ANI
2008-11-17 10:06:08
War on terror costs Pakistan Rs 2 trillion
Pakistan has spent over Rs 2082.942 billion on the 'war on terror' since 2004, a document released by the Ministry of Finance said on Sunday.This included direct cost of Rs 450.222 billion and indirect cost of Rs 1632.720 billion, said the Draft Poverty...
2008-11-17 03:18:20
Old Mutual finance director calls it a day
Old Mutual, the South African insurer, confirmed Jonathan Nicholls, finance director, was leaving less than two months after its chief executive also left the company...
2008-11-16 23:00:00
EU divided over financial, economic challenges
EU finance ministers failed to endorse significant measures to tackle recessionxA0andxA0conflicting positions emerged on global economic governance duringxA0their meeting in Brussels yesterday 4 November, which was dominated byxA0internal divisions.
2008-11-16 08:55:26
Emerging economies seek stronger role at G20 summit
The build-up to this weekend'sï¿½G20 international summit in Washington November 15 continues to gather momentum as finance ministers and bank leaders from the world's 20 largest economies gathered on Saturday November 8 in Brazil.
2008-11-16 08:55:26
Assertive EU leaders fly to G20 finance summit
Atï¿½the risk of alienating their host, US President George W. Bush, European leaders displayed unusual confidence in their ability to push through major reforms ahead of a gathering of world leaders this weekend in Washington, aimed at launchingï¿½a refoundation of the global financial system.
2008-11-16 08:55:26