Monthly Archives: November 2009

According to the estimates from Bank of America-Merrill Lynch, the United Arab Emirate (UAE) has total debt amounting to USD 184 billion at the end of 2009. The bank also added that the region faces a heavy redemption schedule until 2013. In a report released, BofA-Merrill Lynch said that the restructuring undertaken by Dubai...

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Renowned personal computer maker Lenovo Group announced on Friday that the company is joining back the race to develop products that link phones and PCs by buying back a mobile phone business that it sold off the previous year. Lenovo, the world’s fourth-largest PC maker, sold its mobile unit to focus on computers. However,...

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The US auto maker General Motors confirmed on Thursday that the company shall retain its all the four plants of its European subsidiary Opel in Germany. However, GM plans to slash another 9,500 jobs in Europe as part of restructuring to make the company profitable all over again. Nick Reilly, the head of GM’s...

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According to the newly released official figures, Britain’s recession-hit economy shrank by 0.3 per cent in the third quarter. However this shrinkage is touted to be better than the anticipated level. The data from OECD shows that Britain is rambling leading industrialized economies in pulling out of the recession. US, Euro-zone and Japan have...

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On Wednesday, Japan posted a trade surplus in excess of USD 9 millions, for the ninth consecutive month in October. These are the clear signs of the world’s second largest economy emerging strongly out of it’s worst recession since the World War II. In a sharp rebound from a trade deficit of 75 billion...

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For the second time in the present week, gold struck a record high, going beyond $1,170 an ounce on Wednesday, and reportedly, India was “open to buying” more gold from the International Monetary Fund. Gold has already jumped nearly 13% since the beginning of this month as investors poured money into the metal after...

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The International Monetary Fund announced on Tuesday that a lending scheme to aid countries hit hard by the financial crisis had been extended to USD 600 billion. The Washington-based IMF said that the additional 13 potential countries have agreed to the present 26 nations in committing money to the so-called New Arrangements to Borrow...

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The Russian post office said on Monday that it intended to cut its staff by at least eight per cent in the year 2010. This can result in about 33,000 job losses. In a statement released by the Russian state-controlled post office, it was announced that the post office is planning “gradual cuts of...

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After Kraft Foods, Hershey and Ferrero, Nestle too is weighing options, highlighting the possibility of a bid for Cadbury that would challenge Kraft Foods’s offer and a potential move by Hershey. However, it is believed that there are equal chances that Nestle, who is reviewing its options with bankers at the moment, might end...

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In its attempt to tackle the hostile offer by rival Kraft Foods, US chocolate maker Hershey is considering launching a solo bid of at least USD 17 billion for British chocolatier Cadbury. The leading chocolate producer of US, Hershey, has lined up deal funding from Bank of America and JP Morgan Chase & Co...

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