Business

April 20, 2011

Afghan Officials Try to Recoup Kabul Bank Loan Money

Afghanistan's top banker says officials have increased efforts to recover hundreds of millions of dollars in loans made by the country's biggest lender, Kabul Bank, but they have only collected about five percent of the total so far. Kabul Bank…

April 20, 2011

Gold Again Tops $1,500 an Ounce

The price of gold set a record high for a second straight day Wednesday as investors looked for an alternative to a weakening U.S. dollar. Various unsettling events in the world in the last few months — such as the political unrest in the Middle…

April 20, 2011

World Bank, IMF say Caribbean needs help in reaching MDG targets

The World Bank and the International Monetary Fund (IMF) say while two-thirds of developing…

April 20, 2011

Citigroup’s profit plunges 32 per cent

Citigroup Inc’s first-quarter profit fell 32 per cent as shrinking loans and poor trading results pressured revenue while expenses surged. The results highlighted how the third-largest US bank, which teetered on the brink of collapse in the…

April 20, 2011

Stocks sink after S&P issues warning on US debt

A warning from Standard & Poor's (S&P) that the agency might lower its rating on US government debt sent stocks on their steepest slide in a month yesterday. S&P said there is a 33 per cent chance it would lower the country's credit rating from…

April 17, 2011

Bank of America profits fall due to mortgage losses

Bank of America Merrill Lynch has reported a 38% decline in profits for…

April 17, 2011

China’s economy expands 9.7% as inflation accelerates

China's economy continued its boom in March and inflation accelerated to the fastest rate since 2008. Growth was at a faster-than-expected 9.7% between January and March from the same period a year earlier, the National Bureau of Statistics said.…

April 17, 2011

India’s inflation accelerates to 8.9% in March

India's inflation rate rose to 8.9% from 8.3% in February, driven higher by fuel and manufacturing costs, the government has announced. The January inflation rate was also revised upwards to 9.35% from 8.23%. Earlier this week the International…

April 17, 2011

Google sees a sharp rise in first-quarter earnings

Internet giant Google has reported a sharp rise in first-quarter earnings, the first figures with co-founder Larry Page back at the helm as boss. The world's leading search engine reported $6.54bn (£4bn) in net revenue in the first quarter, up…

April 15, 2011

US crude rises as traders eye weaker dollar

US crude oil futures rose nearly one per cent yesterday, as a weaker dollar offset worries that…