(PTI): China’s foreign currency reserves have risen above US 2 trillion dollars in the second quarter of 2009, new data from the People’s Bank of China shows. China’s foreign exchange reserves have soared 17.8% from June 2008 to a record US 2.13 trillion. The country’s reserves climbed as foreign investment poured back into the world’s [...]
China’s foreign currency reserves have risen above $2 trillion
Published in July 23rd, 2009
Posted by The Business Time in Business
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Lloyds Banking Group (LBG) to cut more 1,200 jobs
Published in July 23rd, 2009
Posted by The Business Time in Business
(PTI): Lloyds Banking Group (LBG) says it will axe another 1,200 jobs, taking the total job reductions of the British bank to 8,200 since it bought rival HBOS in January. The additional job losses, announced Thursday, come on top of 2,340 losses that Lloyds, which is 43%-owned
US senators using a softer tone now against Iran
Published in July 23rd, 2009
Posted by The Business Time in National
(PTI): The US senators, who proposed tougher sanction against Iran earlier this year, seem to have taken a softer tone in the new amendment they have presented. Although the amendment still calls for more sanctions against Iran in the event of talks failing, it moves away from allegations that Tehran’s civilian nuclear program is gearing [...]
Siemens risks hundreds of millions of dollars in sales for Iran contract
Published in July 22nd, 2009
Posted by The Business Time in Business
(PTI): Siemens risks hundreds of millions of dollars in sales to the Los Angeles Metropolitan Transportation Authority for providing Iran with surveillance technology. Nokia Siemens Networks, a joint venture between Germany’s Siemens and Finland’s Nokia, recently sold Iran’s telecommunications company a monitoring center
Israel planning to declare ownership of the West Bank’s Dead Sea shore as “state property
Published in July 22nd, 2009
Posted by The Business Time in World
(PTI): Israel plans declaring ownership of the West Bank’s Dead Sea shore as “state property,” to confiscate more Palestinian land, an anti-settlement group says. “Israeli authorities have announced that they intend to declare as state land some 138,600 dunums (34,650 acres) that has emerged along the Dead Sea in the occupied West Bank due to [...]
Isreal rejects US call and will build controversial housing project in occupied east Jerusalem
Published in July 21st, 2009
Posted by The Business Time in World
(PTI): Israel has rejected calls from the United States, the European Union and Russia to halt a controversial building project in the occupied east Jerusalem (al-Quds). “Israel acts and will act in line with its national interests and in particular for anything affecting Jerusalem. Our rights in Jerusalem, including its development, cannot be
