October 16, 2012
Cuba to end exit permits for foreign travel
Cuba has announced it is removing the need for its citizens to obtain exit permits before travelling abroad. State media said the move, to come into effect on 14 January next year, would "update" migration laws to reflect current and future…
October 16, 2012
Clico lawyers fired and replaced
One year and three months into the Commission of Enquiry into collapsed insurance giant CLICO, the Minister of Finance has fired the team of lawyers who were representing the ministry, sources confirmed yesterday.According to a report in the Sunday…
October 16, 2012
Controversy over Wyclef’s charity money for Haiti
Wyclef Jean is facing an investigation into what happened to money he raised for victims of the Haiti earthquake. The former Fugees star started a campaign after 230,000 people died in the disaster in 2010. Two years later though there's…
October 16, 2012
Portugal reveals tough 2013 budget
The Portuguese government has revealed details of its draft budget for 2013, one of the harshest in the country's recent history. Finance Minister Vitor Gaspar confirmed the average income tax rise would increase from 9.8% in 2012 to 13.2% next…
October 16, 2012
Yahoo appoints Google’s Henrique de Castro as COO
Yahoo has appointed Google executive Henrique de Castro as its next chief operating officer (COO), the second big name it has hired from its rival in recent months. Earlier this year, it appointed former Google executive Marissa Mayer as its chief…
October 16, 2012
Softbank to take control of Sprint Nextel for $20bn
Japanese mobile phone company Softbank is to buy 70% of US carrier Sprint Nextel for $20.1bn (£12.5bn). The deal will be the biggest overseas acquisition by a Japanese firm. The takeover of the number three mobile carrier in the US will make…
October 16, 2012
Greek Austerity Talks Remain Stalemated
Greece says negotiations with its international lenders over the country's latest austerity plan are unlikely to be concluded before this week's European Union summit. Finance Minister Yannis Stournaras said Monday Greek officials are still talking…
October 16, 2012
IMF Leaders Seek ‘Quick, Effective’ Action on Growth
Global finance ministers have called for quick and effective action to safeguard faltering economic growth and rebuild shaken confidence. The ministers warned Saturday at the annual meeting of the International Monetary Fund in Tokyo that global…
October 16, 2012
Asian Powers Increase Military Spending
A new study shows that over the past decade, five Asian powers have increased military spending to levels among the highest in the world, with China leading the way. The study released Monday by the Washington-based Center for Strategic and…
October 16, 2012
Self-Immolations Controversial in Buddhist Community
The practice of self-immolation is controversial in the Buddhist community, but it is a topic that has come to the forefront after more than 50 Tibetans have set themselves on fire to protest Chinese policies in their homeland. Any kind of suicide…