March 22, 2011
Russia Gets Giant Boost from Rising Oil Prices
As much of the world reels from civil unrest and natural disasters, Russia is cashing in on high…
March 22, 2011
Tokyo Electric Power to pay farmers for radiation loss
Tokyo Electric Power (Tepco) will have to compensate farmers for losses caused by the nuclear radiation leaking from its power plants, Japan has said. The firm will have to take responsibility, said Chief Cabinet Secretary Yukio Edano at a press…
March 22, 2011
Japan’s carmakers are getting set to restart production
Japanese car manufacturers are looking to restart production after their operations were disrupted by the deadly earthquake and tsunami. Toyota Motors says it will announce plans to restart production on Tuesday. Production at Honda Motors and…
March 22, 2011
US & European Stocks Make Gains
U.S. stock market indexes made strong gains in Monday's trading. The Dow Jones Industrial Average gained 1.5 percent to end at 12,037. The S&P 500 moved up 1.5 percent to close at 1,298 while the NASDAQ jumped 1.8 percent to finish at 2,692.…
March 22, 2011
World Bank: Five Years, $235 Billion for Japan Recovery
World Bank officials say it may take five years for Japan to recover from the recent earthquake and tsunami with costs running as high as $235 billion. Monday's report from the bank says the damage may turn out to be the equivalent of 4 percent…
March 16, 2011
Oil Prices Drop on Fears for Japan’s Economy
World oil prices are dropping because of fears the earthquake and…
March 16, 2011
Portugal hit by debt downgrade from ratings agenc
International ratings agency Moody's has downgraded Portugal's sovereign debt rating, citing the country's need to cut debt and its poor growth prospects. Meanwhile Portugal's main opposition party has announced it will oppose the government's…
March 16, 2011
Japan’s Nikkei 225 rebounds as economic concerns ease
Japanese stocks rebounded as concerns over the long-term impact of Friday's earthquake and tsunami on Japan's economy ease. The Nikkei 225 index gained 4.3% by midday Wednesday. On Monday and Tuesday, the index dropped more than 16%, its biggest…
March 16, 2011
The BOJ injects $43bn to shore up the financial markets
The Bank of Japan has pumped an extra 3.5 trillion yen ($43bn; £27bn) into the financial markets on Wednesday. The injection comes after the central bank announced a cash input of 23tn yen ($284bn) on Monday and Tuesday. The Bank of Japan has been…
March 16, 2011
Cuba devalues currency to match US dollar
Cuba is devaluing its currency by about 8% compared to the US dollar as part of efforts to revive the economy. The hard-currency convertible peso used mostly by tourists and foreign firms will now be on a par with the dollar. The central bank said…