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Abu Dhabi gives $10bn to Dubai to service debts
Dubai’s decline into financial crisis has been more spectacular than its rise. Until a month ago, the official word from Dubai was that the emirate’s finances were in good order, but in late November world markets fell on news that the Dubai World conglomerate was unable to service $26bn in debts. Now Abu Dhabi has given Dubai $10bn, some of… Read more
Current situation of Pakistan Job Market
Pakistan is always struggling with its Job market situation and creates employment opportunities never the same. An unforeseen situation in the country and Government polices always varied which effects seriously on job market. Factors affecting the Job Market: The deteriorating law and order situation in various parts of the country forced the investors to offload their investments. The news of… Read more
U.S. Has Entered “The Greatest Depression”
Prison Planet.com Tuesday, March 3, 2009 Trends research analyst Gerald Celente, who has risen in prominence on the back of his deadly accurate economic predictions, says that the collapse of financial markets heralds the start of “The Greatest Depression”.In his latest Trend Alert bulletin, Celente attacks mainstream pundits who falsely predicted a market bottom and the start of a recovery, noting that conventional analysts have been… Read more
India’s richest men lose billions
Indian businessman Anil Ambani has been revealed as the biggest loser on the 2009 Forbes World Billionaire list, losing $31.9bn over the past 12 months.Mr Ambani, who runs the telecoms and finance arms of the former Reliance Group, had been 2008’s biggest gainer. India’s billionaires saw massive falls, with Mr Ambani’s brother Mukesh and steel tycoon Lakshmi Mittal both seeing… Read more
Rich list hit by economic crisis
The financial crisis is taking its toll on the world’s richest people, wiping 332 names off Forbes magazine’s “rich list” of world billionaires.Just 793 people can now lay claim to a place on the list, but on average they have lost 23% of their wealth. The stock market collapse helped Microsoft founder Bill Gates regain the top spot, despite his… Read more
C919: Impact of Chinese Commerical Jumbo jets for the world
by Moin Ansari It is called the Manufacturing PacMan strategy. Start with parts, and an export engine. Then begin duplicating large machines like the Migs. Reach technological independence and build your own aircraft. China has followed the path perfectly. Chinese Commercial Aircraft Corporation of China (CACC) was founded on May the 11th 2008 with an opening ceremony in presence of… Read more
UK govt takes over Lloyds Banking Group
LONDON: The British government said Saturday it will up its stake in Lloyds Banking Group to 65 percent and guarantee 260 billion pounds (290 billion euros, 365 billion dollars) worth of its toxic assets. The state will increase its ownership of the bank from 43 percent to 65 percent. “It’s a very important announcement. It provides new certainty for Lloyds… Read more
Japanese workers demand pay rise amid recession
TOKYO: Thousands of workers rallied at a Tokyo park on Saturday, demanding companies keep jobs and increase salaries to stimulate recovery from a deepening recession.“Secure regular pay rises! Have serious talks with management about rises in consumer prices,” Tsuyoshi Takagi, president of the Japan Trade Union Confederation, said in an address to kick-start the rally. “If we accept their argument… Read more »