News about finance
Brazil freezes assets tied to Alstom, Siemens price-fixing claims
Brazilian judges have frozen assets worth $26 million involved in an alleged cartel suspected of price-rigging during bidding for Sao Paulo's metro rail systems.
09 November 2013 19:04
Kazakhstan officials drink 1 billion tenge worth of tea with sweets in 10 months
Kazakhstan state officials have drunk almost 1 billion tenge ($6.5 million) worth of tea with sweets since the beginning of the year.
09 November 2013 10:45
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 11:16
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 21:03
New Finance Minister appointed in Kazakhstan
Bakhyt Sultanov has been appointed the new Minister of Finance in Kazakhstan.
06 November 2013 16:24
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 14:40
Kazakhstan poised to join Islamic Financial Services Board
Kazakhstan intends to join the Islamic Financial Services Board (IFSB).
04 November 2013 20:18
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 15:08
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 17:41
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 12:13
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 11:20
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 16:20
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 12:00
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 10:20
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 10:46
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 18:00
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 15:01
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 23:03
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 10:38
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 10:24