Business

April 8, 2011

Oil rises to 2-1/2 high on Mideast turmoil

Oil prices ended at 2-1/2-year highs on Thursday as supply worries tied to fighting in Libya and Middle East turmoil overshadowed demand concerns spurred by a boost in euro zone interest rates and as a major aftershock struck Japan. Brent crude…

April 8, 2011

IMF says worth exploring borrowing from markets

The International Monetary Fund said on Thursday it was worth exploring ways that the global institution could borrow from financial markets at short notice to raise additional funding for its lending programs. In a paper that looks at progress…

April 7, 2011

LIME Signs US $3.7 Million Contract To Build National Broadband Network For The Government Of Jamaic

LIME, the Caribbean’s only full service telecoms provider, today signed a five-year agreement…

April 7, 2011

Portugal calls for EU financial bail-out

Portugal's caretaker Prime Minister Jose Socrates has said that he has asked the European Union for financial assistance. Mr Socrates said the country was "at too much risk that it shouldn't be exposed to". The government has long resisted asking…

April 7, 2011

Ex-Enron CEO Jeff Skilling denied new trial

A US appeals court has denied ex-Enron chief executive Jeffrey Skilling a new trial, upholding his conviction on 19 counts of conspiracy and other crimes. The court rejected arguments that faulty jury instructions at his 2006 trial meant he should…

April 7, 2011

China increases fuel prices as crude costs hit refiners

China has increased the retail price of gasoline and diesel to record highs, after a rise in global crude costs. The increase will be 5-5.5%, according to the National Development and Reform Commission. The move is aimed at easing pressure on state…

April 6, 2011

Satyam and PwC are fined in US for accounting fraud

Satyam Computer Services and its former auditor PricewaterCoopers (PwC) have agreed to pay a…

April 5, 2011

Oil prices hit fresh highs on supply worries

Oil prices have hit new two-and-a-half year highs as worries continue about…

April 5, 2011

Spain’s jobless level hits record high

The number of Spanish people filing for unemployment benefits rose for its eighth consecutive month in March. The benefit claimant count rose by 34,406 people, to a new record of 4.3 million, the Labour Ministry said. Spain's total jobless rate is…

April 5, 2011

Australia posts trade deficit as disasters hit exports

Australia has posted a shock trade deficit for the month of February as twin natural disasters dented the country's exports. According to the latest data, the trade deficit stood at A$205m ($212m; £131m), the first deficit in 11 months. Analysts…