Unemployment to stay high in the US, Europe until 2011
on Nov 21, 2009 in Asia Europe USA china economy india japan jobless rate news OECD U.S. unemployment rates The Organization for Economic Cooperation and Development (OECD) has said that unemployment rates are expected to stay high in the US and Europe until 2011, in spite of almost all countries coming out from the global financial crisis. The OECD‘s Ec...

Zimbabwean economy stabilizing
on Nov 16, 2009 in Africa economic crisis economy Emmanuel Fundira hotels in Zimbabwe news political crisis Politics recovery South Africa tourism Zimbabwe The occupancy of Zimbabwean hotels has almost doubled in the last year which shows that tourists are returning to the south-African nation as its economic and political condition has begun to stabilize. According to the Zimbabwe Council of Tourism p...

APEC says global economy recovering
on Nov 15, 2009 in Asia APEC Asia-Pacific Economic Cooperation climate change economy global economy india japan Lee Hsien Loong news recovery Singapore The leaders of 21 APEC economies, in a recently concluded two-day summit in Singapore, have said that the global economy is now beginning to revive, and the Asia- Pacific region is leading from the front. The forum of Asia-Pacific Economic Cooperati...

US policies creating speculation: China
on Nov 15, 2009 in Asia USA Beijing china China Banking Regulatory Commission dollar Donald Tsang interest rates International Finance Forum news recession U.S. US government The constant decline in the dollar and the Federal government’s policies of keeping interest rates low has created great speculation in the foreign exchange, property and stock market, and has dramatically affected the prices of assets on a worldw...

European economy out of recession
on Nov 13, 2009 in Europe dollar economy euro euro-area European Central Bank European economy France GDP Germany news recession recovery stimulus The euro-area economy came out from recession in the third quarter as consumers’ unwillingness to increase spending was compensated by growth in exports from France and Germany. Gross Domestic Product rose 0.4 percent in the economy of the 16 coun...

China to lead world economic recovery
on Nov 9, 2009 in Asia banks china Chinese economy economy education GDP jobs news recovery stimulus world bank A recent World Bank report has suggested that amongst the world’s major economies, the Chinese economy will be the first to emerge out of the global slowdown. The World Bank predicted China to grow at almost 8.4 percent and that would be enough to...

Unemployment in Spain up 2.6 percent
on Nov 9, 2009 in Europe European Union jobless news spain Spanish government unemployment unemployment rate Unemployment in Spain grew for a third successive month as it went up by 2.6 percent in October. According to reports by the Spanish National Institute of Statistics, unemployment was on the rise as the number of unemployed people increased by 98,90...

Fannie Mae seeks $15 billion aid
on Nov 8, 2009 in USA Fannie Mae Federal Government foreclosure Freddie Mac mortgages news U.S. Mortgage giant Fannie Mae has reported a third quarter loss of $19 billion and has requested the Treasury for $15 billion more as aid for its survival. Fannie Mae and Freddie Mac were taken by the federal government under its control in September la...

US jobless rate at 26 year high, crosses 10 percent mark
on Nov 6, 2009 in USA construction Federal Reserve household surveys interest rates jobless claims labor department labor market manufacturing news recession recovery retail unemployment US jobless rate Unemployment in the US increased more than expected last month to record a 26 year high as employers continued to cut jobs, showing signs that that the struggle in the labor market carries on as the country’s economy tries to come out of recession...

800 more jobs to be cut at Microsoft
on Nov 5, 2009 in USA cost cutting job cuts layoffs microsoft news Software giant Microsoft Corp. announced on Monday that it is going to slash 800 more positions from its workforce, in addition to the 5000 job cuts it had announced earlier this year. According to the company, the job cuts will be spread across dif...