December 20, 2011
Iran signs deal with Russia to develop oil field
Iran has signed a deal reportedly worth up to one billion U.S. dollars with Russia's Tatneft to develop an oil field, a rare example of new foreign investment in a country under tight economic sanctions. For a country under tight economic…
December 20, 2011
AT&T ends $39bn bid for T-Mobile USA
US telecoms giant AT&T has said it will not pursue its $39bn bid to buy T-Mobile USA after running into fierce government objections. AT&T said the actions of the government to block the deal do not change the problems faced by the mobile phone…
December 19, 2011
British govt backs plan to restructure banks
The British government will restructure the country's banks by…
December 19, 2011
Bahamas to get US$50m to improve air transportation
The Bahamas is to receive a US$50 million loan to improve its air transportation system in a programme expected to increase flights within the island chain and modernise its airports. The Inter-American Development Bank says its loan also will be…
December 19, 2011
China’s house prices fall amid curbs
House prices in most Chinese cities have fallen as government policies aimed at cooling the property market start to take effect. New home prices in 49 out of 70 Chinese cities dropped in November from the previous month, the National Bureau of…
December 19, 2011
Vickers report on banks to be accepted in full – Cable
The government will accept the Vickers report into banking "in full", Business Secretary Vince Cable has told the BBC. The report, launched in the wake of the financial crisis, recommended separating banks' retail business from their investment…
December 17, 2011
Fitch revises outlook on France to ‘negative’
Ratings agency Fitch has affirmed France's top-notch AAA credit rating but has revised its outlook on the country to "negative" from "stable". A negative outlook usually means a downgrade is possible in 12-18 months. Fitch said the change in…
December 17, 2011
Ex-Fannie Mae and Freddie Mac bosses charged with fraud
The US financial regulator has brought civil fraud charges against six former top executives at mortgage giants Fannie Mae and Freddie Mac. The Securities and Exchange Commission (SEC) said the executives had misled investors about the companies'…
December 17, 2011
Multi-million dollar contract to upgrade water system
The National Water Commission (NWC) in Jamaica has signed a US$115 million loan with the Bank of Nova Scotia for funding of the second phase of the Jamaica Water Supply Improvement Project (JWSIP). The JWSIP, which is divided into segments A and B,…
December 17, 2011
Early US stock market rally fades
An early rally faded on the stock market yesterday, leaving indexes down about three per cent for the week as worries resurfaced about a breakup of the euro. BlackBerry maker Research in Motion plunged after slashing its forecast for holiday…