Speaking ahead of fresh talks over Iran’s nuclear ambitions, President Mahmoud Ahmadinejad says he is confident his country will be able to withstand years of financial blockage that threatens to destroy its oil export market.
In a bid to convey a message of political and economic strength, Ahmadinejad said his country has a large amount of financial reserves that would allow Iran to survive for years without having to export oil.
Three of China’s largest Internet companies have vowed to end all “rumours” about the Chinese government from spreading online, claimed a report by Reuters on Tuesday, as the government continues to crack down on the web following widespread rumours of a coup.
Asia may be home to a number of emerging and developing markets, but it is also home to one of the poorest slums and regions in the world. In a regional report released today, the Asian Development Bank warns that Asia’s rising incomes could worsen the inequality gap, a situation that could undermine political stability and the region’s long-run growth prospects.
The Indian government will make a decision this week on whether to allow foreign airlines to purchase stakes in Indian carriers, said a report by the Times of India on Wednesday.
The move is one which could potentially provide a lifeline to cash-strapped carriers such as Kingfisher Airlines, with Indian carriers now facing an accumulated debt of $16 billion and cumulative losses of over $8.5 billion.
Despite having a cash reserve of almost $100 billion and soaring sales of its popular products like the iPhone, Apple saw its stock smacked with a rare downgrade yesterday. Why?
Apple is said to have an enviable problem: It has too much cash and does not know what to do with it. But last month, Apple announced it was planning a $10 billion stock buyback and a dividend payout for its investors, as the technology giant sought to return part of its $97.8 billion cash holdings to its shareholders.
China’s trade balance swung back into positive territory in March as the country’s import growth slowed from a 13-month peak and exports grew faster than expected. March’s surplus of $5.35 billion came as a surprise to many analysts and sharply reverses China’s massive $31.5 billion deficit in February – the country’s largest trade gap in 22 years.
Returning to surplus, exports grew 8.9 percent year-on-year to $165.6 billion while imports grew 5.3 percent y-o-y to $160.3 billion, trade data showed on Tuesday.
Twenty-six Fortune 500 companies did not have to pay a single cent in federal income taxes over the last four years, wrote a report by consumer group Citizens for Tax Justice and the Institute on Taxation and Economic Policy on Monday, with corporate tax breaks allowing some companies to actually make a profit from filing their taxes.
Greece’s cash-strapped government may consider renting out police officers and equipment – including patrol boats and helicopters – to private citizens and businesses, said a report by AFP on Monday, as the country continues to deal with a spiralling public debt that has cost severe budget cuts for national public services.
A quick preview of the key economic events for the upcoming week: After Spain’s disappointing debt auction last week, investors are anticipating Italy’s performance as it heads for its own debt sale later this week. Spain and Italy, both saved by the ECB’s LTRO cheap liquidity injection, are generally the two countries considered most susceptible to a second round of problems that could break the euro and disrupt the eurozone’s recovery process.
Monday, April 9
Any individual or company that has been convicted of food safety crimes in China could be banned from the food industry for life, claimed a report by the China Daily on Monday, as the government continues to crack down on food safety violations.
Last week, China’s State Food and Drug Administration (SFDA) implemented a new nationwide regulation that would force all restaurants to display notices of their food safety levels at their storefront.
