The General Assembly this morning announced its decision to reschedule the Conference on the World Financial and Economic Crisis and Its Impact on Development to 24 to 26 June, from its previously-scheduled dates of 1 to 3 June, and, on another matter, appointed Gönke Roscher of Germany to the Committee on Contributions to a term [...]
Archive for May, 2009
UN General assembly resechudle conference on world financial, economic crisis.
May 27th, 2009 by Financial Writer
Tags: Global Recession, World Financial
more...Mumbai attack hits Pakistan airlines hard
May 22nd, 2009 by Financial Writer
Islamabad: Pakistan International Airlines (PIA) is running half-empty flights to India after 26/11.
PIA sources said the national carrier was operating six flights a week to India with 45-52% occupancy after the Mumbai attack and losing millions. Before 26/11, occupancy was over 70%.
PIA bosses have urged the defence ministry to reduce the number of flights to [...]
Tags: india flights, mumbai attack, pakistan airlines
Recession Turns Malls Into Ghost Towns
May 22nd, 2009 by Financial Writer
In the 12 months ended March 31, U.S. malls collectively posted a 6.5% decline in tenants’ same-store sales, according to Green Street Advisors Inc., a real-estate research firm. The recent slump was led by an average 7.3% sales drop at Simon Property Group Inc., the operator with the largest number of mall locations.
The industry’s woes [...]
Tags: commercial industry, Global Recession, USA
Taiwan to set up petrochemical zone in Quanzhou
May 20th, 2009 by Financial Writer
Petrochemical Industry Association of Taiwan has started making preparations for the set-up of Taiwan petrochemical industry zone in Quangang petrochemical industry park in Quanzhou City of Fujian Province, the Shanghai Securities News reported.
According to the local government, the Taiwan petrochemical industry zone will involve a total investment of US$6 billion, covering an area of 4.6 [...]
Tags: Petrochemical, Quangang petrochemical industry, Taiwan News
Gas prices to rise 3.4 cents a litre today
May 20th, 2009 by Financial Writer
Liberal MP and gas price watchdog MP Dan McTeague is warning drivers to expect a 3.4 cent a litre increase in the price of regular gas today.
That brings the average price in the Toronto area to 97.7 cents per litre, but closer to the dollar a litre mark in Montreal and Vancouver. The price of [...]
Tags: Canada News, Gas Prices, Toronto Economy
Pound climbs as Bank gambles on inflation
May 20th, 2009 by Financial Writer
Sterling continued its resurgence against the dollar today after the Bank of England said that its quantitative easing (QE) programme risks igniting inflation.
Sterling rose from $1.548 to a new five-month high of $1.552 after monetary policy commmittee (MPC) minutes showed all members decisively behind the £50bn that was added to the quantitative easing programme two [...]
Tags: Bank Inflation, MPC, UK
U.S. Financial System Healing
May 20th, 2009 by Financial Writer
The U.S. financial system is healing, Treasury Secretary Timothy Geithner said on Wednesday, but contractions in Japan’s and Mexico’s economies showed the path to a global recovery could be long and tough.
The U.S. Federal Reserve said it saw modest improvements in the U.S. economy last month, but cut its forecast for economic growth over the [...]
Tags: Global Recession, Money News, USA