(PTI): Dubai shares have fallen to their lowest level in almost five months on continuing concerns about the ability of leading companies including Dubai World to restructure debt.

The Dubai index tumbled 4.7%, after closing down almost 6% on Monday. Earlier this month, Dubai World, the government-owned investment company behind Dubai’s rapid More…

(PTI): UK banks have a total of $5 billion exposure at Dubai World, making them the largest foreign creditor group of the troubled Dubai corporation.

A week after the news came out regarding Dubai’s financial turmoil, it is now clear that many UK banking More…

(PTI): Russia’s Prime Minister Vladimir Putin has declared that there is no evidence to indicate that Iran is trying to produce nuclear weapons.

“We have no information that Iran is working on the creation of a nuclear weapon,” Reuters quoted Putin More…

(PTI): The Chief Executive of General Motors, Fritz Henderson, has resigned after eight turbulent months as head of the largest US automaker.

The firm’s board of directors accepted Henderson’s resignation Tuesday, while praising him for doing a “remarkable job” in leading the company through More…

(PTI): The rising value of the yen against the US dollar has forced Japan to pump $115 billion into the market to revive the island’s economic growth.

The move came after the yen climbed to a 14-year high against the dollar last week. The Bank of Japan (BoJ) says it has also kept the lending rate at 0.1 percent More…

(PTI): US stocks have plummeted following hefty declines in global markets amid investor fears over the world’s uneasy recovery from recession.

According to reports on Thursday, the country’s major stock indices fell about one percent on average after the European and Japanese stocks experienced More…