News

November 1, 2011

Stock markets fall as eurozone debt fears persist

Bank shares and the euro fell on Monday as fears over the eurozone persisted. European stock markets slumped about 3%, as the value of the big banks retraced much of the gains they had made since a new rescue deal was agreed by eurozone leaders…

November 1, 2011

World economy on verge of new jobs recession

The global economy is on the verge of a new and deeper jobs recession that may ignite social unrest, the International Labour Organization (ILO) has warned. It will take at least five years for employment in advanced economies to return to…

November 1, 2011

About 1.7 million still without power as Northeast recovers from storm

Widespread power outages and transit delays marked the start of a challenging week for…

November 1, 2011

Chinese Shenzhou craft launches on key space mission

China has taken the next step in its quest to become a major space power with the launch of the unmanned Shenzhou 8 vehicle. The spacecraft rode a Long March 2F rocket into orbit where it will attempt to rendezvous and dock with the Tiangong-1 lab,…

November 1, 2011

UN Security Council concern over Libya arms stockpile

The United Nations Security Council has expressed "concern" over the fate of the massive weapons stockpile built up in Libya under Colonel Muammar Gaddafi. The council called on Libya and its neighbours to stamp out the proliferation of looted…

November 1, 2011

Arizona smashes Mexico cartel drug smuggling network

US authorities say they have broken up a massive drug-smuggling network run by a Mexican cartel in Arizona. A total of 76 suspects have been arrested and huge quantities of drugs and arms seized in a series of raids. The ring used backpackers and…

October 31, 2011

Building Materials Ltd Do it Center

Building Material Ltd Do it Center continues to work hand in hand with local contractors and international vendors to ensure cutting edge developments in the building industry do not bypass The Turks and Caicos Islands.   A steady stream of local…

October 31, 2011

Japan intervenes in currency markets and yen weakens 5%

The Japanese government has intervened in the currency market to weaken the yen after it hit a post-war high. The move resulted in the yen weakening as much as 5%. It was recently trading at 79.33 against the US dollar compared with 75.31 in early…

October 31, 2011

Guyana slips one place in World Bank’s rankings

Guyana has, in the latest World Bank International Financial Corporation’s Doing Business 2012: Doing Business in a More Transparent World report, slipped one place down the ratings to 114 out of 183 economies examined. However, in the region St…

October 31, 2011

Qantas ordered to resume flights

Qantas will resume flights on Monday after an independent tribunal ordered a permanent end to the industrial dispute with its union members. Qantas chief executive Alan Joyce said the airline will resume flights by mid-afternoon on a limited…