Japanese police are investigating the inner workings of the nation’s alibi-ya industry, reported ABC News on Monday, after officials busted two alibi-ya clients for using false documents to obtain a large bank loan.
A proposal to impose an additional tax on Italian pet-owners had to be scrapped by the government just hours after it was revealed to the public last Friday, after public outcry prompted parliamentarians to ditch a controversial tax plan that would have raised revenues for debt-strapped cities and towns.
Mark Zuckerberg and friends are about to get even richer than they already are: Facebook was born almost eight years ago, developed and launched from inside a Harvard dormitory room. In a few hours, when Zuckerberg rings the Nasdaq opening bell, Facebook will become one of the largest and most valuable stock offerings in U.S. history.
Priced at $38 a share, Facebook is valued at $104 billion, the biggest ever valuation by a U.S. company at the time of its offering.
Immigration to Germany, the eurozone’s single largest economy, has reached its highest level in 16 years as residents from countries like Greece and Spain flee rising unemployment and weak economic prospects in their home countries.
According to data released by the Federal Statistics Office, there was 90 percent more immigrants to Germany from Greece in 2011 compared a year ago and 52 percent more from Spain in the same period.
Overall, Germany became home to an additional 958,000 people in 2011, accounting for a 20 percent increase from 2010.
Acting on his campaign promise, newly elected president Francois Hollande and his ministers have agreed to take a 30 percent pay cut in order to “lead by example”. Under the new decree, Hollande will see his monthly salary reduced from 21,300 to 14,910 euros.
The symbolic gesture of sacrifice and shared responsibility, the pay cut sharply contrasts with predecessor Nicolas Sarkozy’s decision to increase his pay on entering office.
After he took office in 2007, Sarkozy’s salary increased by 170 percent to 19,000 euros per month ($24,097).
Gold demand in China expanded to record levels in the first quarter of 2012, with total consumer demand in China surging 10 percent to reach a new high of 255.2 tonnes. According to a report by the World Gold Council, purchases related to the Chinese Lunar New Year stimulated growth, with commercial banks and retailers promoting commemorative gold products to mark the auspicious Year of the Dragon.
Head of the International Monetary Fund, Christine Lagarde, has warned that the consequences of Greece exiting the euro would be “extremely expensive and hard, and not just for Greece.” While the impact would be hard to predict, Lagarde said the IMF has to be “technically prepared for anything”.
As talks to form a coalition government collapsed in Greece, Lagarde revealed that the IMF has conducted a technical assessment of a possible Greek exit from the euro.
In an interview with a Dutch public television broadcast, she said:
According to an official, Afghanistan’s oil extraction will begin within the next five months, as the nation expands its efforts to tap its oil reserves, estimated to be worth billions. The Amu Darya Basin, where the extraction work will be done, is estimated to hold almost 90 million barrels of oil.
Foreign investors are losing patience with India’s policy paralysis, corruption scandals and slow growth. According to a report by Reuters, India is experiencing an outflow of money as investors seek higher returns in more promising emerging markets such as Indonesia.
In the words of Jim O’Neill, chairman of Goldman Sachs Asset Management, India has turned out to be the “biggest disappointment” of the BRIC nations.
Members of the European Union have agreed on how to write new global rules for safer banking, after months of bitter clashes between Britain and the rest of the Union. The rules, based on standards set by Basel III, aim to increase financial stability by making banks better equipped to managed their risks and absorb shocks similar to those of the last few years.
