(PTI): Russia’s economy will not return to its 2008 pre-crisis level earlier than the end of 2012, the country’s Finance Minister Alexei Kudrin has said. “We are planning to restore GDP [gross domestic product] to pre-crisis levels in the fourth quarter of 2012,” Kudrin told reporters on Wednesday after reporting
Russian economy back to normal in 3 years
Published in December 18th, 2009
Posted by The Business Time in Business
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Industrialized nations’ climate polices embattled
Published in December 18th, 2009
Posted by The Business Time in Business
(PTI): Russia’s economy will not return to its 2008 pre-crisis level earlier than the end of 2012, the country’s Finance Minister Alexei Kudrin has said. “We are planning to restore GDP [gross domestic product] to pre-crisis levels in the fourth quarter of 2012,” Kudrin told reporters on Wednesday after reporting
Airlines estimated to lose $5.6bn in 2010
Published in December 17th, 2009
Posted by The Business Time in Business
(PTI): The International Air Transport Association (IATA) has forecasted a 5.6 billion dollar loss for airlines in the next year. The estimate is bigger than the previously expected $3.8 billion, as the aviation industry is still facing the impact of the global economic crisis. IATA also warned that airlines
UK jobless rate hits 13-year high
Published in December 17th, 2009
Posted by The Business Time in Business
(PTI): Britain’s jobless rate hit a 13-year high in the three months to October, as the number of the unemployed rose to 2.49 million. According to figures of Britain’s Office for National Statistics (ONS), the number of people without a job climbed 21,000 to 2.49 million — the highest level since early 1995
Citibank to pay back US bailout funds
Published in December 16th, 2009
Posted by The Business Time in Business
(PTI): Citigroup Inc has announced that it will pay the US Treasury back the bailout money it received last year under the Troubled Asset Relief Program. From October 2008 to January 2009, the US Treasury provided Citigroup with three rounds of financial aid worth $45 billion. The bank has to pay back $20 billion of [...]
Dubai share prices up 10% on bailout
Published in December 15th, 2009
Posted by The Business Time in Business
(PTI): Share prices in Dubai have increased by more than 10 percent as a result of Abu Dhabi’s 10-billion-dollar bailout of the Dubai government. The Dubai Financial Market was up 10.37 percent at 1,871.2 points on Monday. The Abu Dhabi Securities
