Continuing worries about the stability of the global economy and the rally seen in equity markets continued to spark investment in gold on Tuesday with the price breaking through the symbolic 1,000 US dollars mark and touching a new high for 2009.
Policy action to combat the worst economic crisis since the Great Depression is working, but governments should not relax stimulus measures until recovery takes hold and unemployment levels recede, the head of the International Monetary Fund says.
Central bankers have backed new measures to strengthen supervision of the global banking industry. A meeting of the Bank for International Settlements (BIS), which consists of the world's central banks, pledged to increase bank's capital requirements.
United Kingdom Chancellor Alistair Darling is set to unveil plans within the next few months to halve the Government's spending deficit over four years, his deputy at the Treasury said.
Cuba’s Housing Institute has created as specific site in the web to facilitate the search and paper-work for people interested in the interchange of homes, reported the broadcasting station Reloj. The sale and purchase of real estate in Cuba is illegal.
Profits of the top 500 Chinese corporations in 2008 exceeded that of their United States counterparts. Gains for the full year in 2008 totalled 1.21 trillion Yuan (177.17 billion US dollars), much more than the 98.9 billion USD from the top 500 US firms in the same period.
The Group of 20 finance ministers have pledged to maintain stimulus measures such as extra government spending and low interest rates to boost the global economy.
Argentine farmers marked on Friday the end of an eight-day sales boycott with rallies and marches promising to “keep fighting” in support of aid for peers suffering from the worst drought in decades and to eliminate the current export tariffs system which distorts production and threatens several crops.
Leading economist Nouriel Roubini who predicted the global financial crisis said Friday in Italy that he expects a slow recovery for advanced economies, but emerging economies may experience a quicker more robust growth.
United States job cuts in August reached 216,000 pushing the unemployment rate up to 9.7%, the highest since 1983, according to the Bureau of Labour Statistics. Since the start of the recession in December 2007, the US economy has shed 6.9 million jobs, the department said.