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Fortescue Metals in Illegal Note Issue? ASX:FMG
Fortesque Metals Group’s Andrew Forrest is set to rape New York investment fund Leucadia with additional subordinated-loan notes. The move has brought back memories of Forrest’s Anaconda mismanagement resulting in a return to bond holders of less than 2c on the dollar. Fortescue’s Future and financing plans for its aggressive Pilbara iron ore expansion plans into [...]
Indonesia looks at Asia
Indonesia looks at Asia following downturn in EU market Indonesian Trade Minister Mari Elka Pangestu said Friday that Indonesia would focus its exports on Asian countries following the slow economic recovery in European countries. “Europe has yet to get through its (economic) crisis period at the moment. In the meantime, Asian markets continue to grow,” the [...]
Peruvian president calls for economic stability to reduce poverty
Peruvian President Alan Garcia Thursday urged to keep the country’s economy stable in order to attract more investments and fight against poverty and unemployment. “My request is for the journalists, the analysts, the politicians, the candidates, to contribute to the fiscal and economic order, which is crucial to encouraging private sector investments that help create [...]
Latin American and Caribbean exports
UN forecasts sharp rise in Latin American and Caribbean exports Exports from Latin America and the Caribbean will grow 21.4% this year, mainly boosted by the sales of South American raw materials, the Economic Commission for Latin American and the Caribbean said Thursday. The UN body said in a report that the advance is due to [...]
Green Future in China
Vancouver’s Mayor spreads message of “Green Future” in China The Vancouver mayor and a delegation of representatives from 22 corporations in the Canadian city will bring a green message to China in an upcoming trade mission designed to promote and sell clean energy technology, mobility and infrastructure. As part of the 11 day trip which will start [...]
Nepali gov?t bans all Gold imports
Nepali government has imposed a ban on Gold imports to deal with the mounting pressure such imports been exerting on the country’s foreign currency reserves. “We have decided to completely bar the imports from Friday and the decision will remain in effect till further notice,” Ganesh Dhakal, joint-secretary at the Ministry of Commerce and Supplies [...]
France sees recovery
France sees recovery in tourism in Y 2010 France, one of world’s top tourism destinations, estimates a better performance of the key tourism business this year after receiving higher number of foreign holidaymakers, a government official said on Friday. “We can say Y 2010 Summer showed a real out of the crisis following a 3% [...]
EU financial supervision architecture
EU reaches deal on new financial supervision architecture Negotiators from European Union ( EU) member states and the European Parliament reached a deal late Thursday to establish a new financial supervision architecture across the 27 Nation bloc. “We have reached a crucial milestone. We have reached a political consensus on the creation of a European financial [...]
China Business News in Brief
TIBET STARTS CONSTRUCTION OF CONVERTOR STATION IN LHASA Construction of a convertor station in Lhasa, capital of Tibet Autonomous Region, began Thursday as part of a power transmission and transformation project to ensure supplies to the region. The station, in Lhunzhub [...]
US jobs data allay Double Dip concerns
Fears of a double-dip recession in the US were allayed on Friday by data showing that the private sector had created 235,000 jobs in the past 3 months. The addition of a better-than-expected 67,000 private-sector jobs in August and upward revisions to data for the previous two months ends a run of bad data that had [...]
