News about finance

US shutdown cost $2.0 billion in lost govt output The 16-day US government shutdown cost 6.6 million in lost workdays for furloughed federal workers, amounting to $2.0 billion in lost productivity, the White House said Thursday in a report.

08 November 2013

A controversy surrounding property confiscation of Kazakhstan's fugitive tycoons Kazakhstan wants to start confiscating property of fugitive tycoons without getting a court verdict.

06 November 2013

New Finance Minister appointed in Kazakhstan Bakhyt Sultanov has been appointed the new Minister of Finance in Kazakhstan.

06 November 2013

Kazakhstan's 3-year budget based on $90 per barrel oil price Kazakhstan has based its new 3-year budget on the oil price of $90 per barrel.

05 November 2013

Kazakhstan poised to join Islamic Financial Services Board Kazakhstan intends to join the Islamic Financial Services Board (IFSB).

04 November 2013

Chinese bank lends Niger $1 billion: minister Niger has accepted a controversial $1 billion loan from the Export-Import Bank of China (China Exim Bank) to finance development projects.

30 October 2013

Toxic US corporate culture unchanged: TARP watchdog Five years after the US financial crisis forced the massive government TARP bailout, the US corporate culture remains toxic and breeding crime.

29 October 2013

Britain to announce Islamic Index on stock exchange Prime Minister David Cameron was on Tuesday to announce a new "Islamic Index" on the London Stock Exchange and reveal plans for Britain to release an Islamic bond.

29 October 2013

Oil-rich Kuwait warns welfare state unsustainable Oil-rich Kuwait said Monday that the generous cradle-to-grave welfare system provided to its 1.2 million citizens was "unsustainable" and it was time for change.

29 October 2013

JPMorgan to pay $5.1 bn to settle Fannie, Freddie claims JPMorgan Chase will pay $5.1 billion to settle charges it overstated the quality of mortgages and mortgage-backed securities sold to Freddie Mac and Fannie Mae.

27 October 2013

Sandy clean-up 'enormous' one year on A year after Hurricane Sandy, the United States still faces an enormous task to repair $60 billion worth of damage and improve resiliency before the next cyclone.

27 October 2013

Twitter seeks up to $1.61 bn in IPO Twitter said Thursday it would seek to raise up to $1.6 billion in its initial public offering expected in the coming weeks.

26 October 2013

Brazil chases FIFA over World Cup structures Brazilian state prosecutors are seeking to recover almost $100m from football's global governing body FIFA which was spent on temporary structures at venues for next year's World Cup.

25 October 2013

Panasonic to slash chip business workforce in half: reports Panasonic is set to cut its chip division workforce in half, axing thousands of jobs as the electronics giant overhauls its battered balance sheet after record losses.

24 October 2013

Australia inflation jumps, dashes rate cut hopes Australian inflation rose by a stronger-than-expected 1.2 percent in the July-September period compared to the previous quarter.

23 October 2013

Kazakhstan wins lawsuit against Mukhtar Ablyazov's company Kazakhstan succeeded in proving that KT Asia was one of Ablyazov's shell companies used to move asset from one company to another.

22 October 2013

Google stock surges on profit, revenue gains Google shares surged to a record high, close to $1,000, after quarterly earnings figures showed the Internet giant's profits are climbing despite a trend toward cheaper advertising on smartphones and tablets.

19 October 2013

Congress pulls US back from brink, averts default The United States was spared the ignominy of a disastrous debt default Wednesday when Congress passed a bill extending the nation's borrowing authority and ending a two-week government shutdown.

17 October 2013

Twitter to list on NYSE Twitter shares will trade on the New York Stock Exchange, documents showed Tuesday, shunning the tech-heavy Nasdaq which saw major problems in Facebook's market debut in 2012.

16 October 2013

Cancer costs EU $170 bln annually: study Cancer cost the then 27 countries of the European Union 126 billion euros ($170.1 billion) in 2009.

14 October 2013

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