The European Parliament (EP) has adopted stricter rules on the activities of the banks, including the establishment of committees to oversee transnational banks to prevent a new crisis in financial system.
The new rules will come into force at the end of next year. “It is clearly a first step, a response to the financial crisis, [...]
The annual inflation rate in the European Union was maintained in April at 0.6% compared with the same month of 2008, according to official statistics agency of the European Union, Eurostat, writes The Wall Street Journal.
Inflation was lower to the estimated level, but economists expected that it will resume its decline in May.
“It is only [...]
The banks from the United States and Europe would need $875 billion (675 billion euro) by the end of the year to return at a level similar to that in the years before the financial crisis. Double that amount would be needed to match the performance obtained in the mid ’90s, according to the [...]
A VAT increase, freezing salaries and reducing subsidies are among measures taken by the new government in Budapest.
Bajnai Gordon, 41 years old, the new Hungarian Prime Minister, will increase VAT from 20% to 25%, but will decrease taxes on wages and income. Bajnai said that the modifications of a tax are designed to boost job [...]
The International Monetary Fund (IMF) estimates that the global economy will stay in a recession that is longer and more serious than previous ones, before a “light” return, according to the report on prospects for the global economy.
The IMF report shows that the global recession and the financial crisis will lead, most probably, to an [...]
The Industrial and Commercial Bank of China (ICBC), already the largest lender in the world based on market capitalization, recently became the largest bank globally in the terms of volume of deposits, the Financial Times writes.
ICBC has attracted deposits worth 1300 billion U.S. dollars (986 billion euro) to the end of past mounth, outgrowing bank [...]
The Russian economy will contract by 5.5% in 2009, while GDP will fall by 3% in Kazakhstan and 15% in Ukraine, according to estimates by investment bank Goldman Sachs.
Bank has reduced the forecast growth from Russia, Kazakhstan and Ukraine, as the global outlook continues to deteriorate, says Bloomberg.
The three countries “have suffered on the background [...]
The Economy in the European Union contracted in the last quarter of 2008 by 1.5% compared with the similar period in the previous year, according to data from the European Statistics Institute – Eurostat.
The report of the previous quarter, gross domestic product in the EU-15 decreased by 1, 6%. Throughout the building community, the economy [...]
According to a recent statement by Barack Obama, humanity needs new financial rules to prevent abuses in the future. Obama admitted, more or less directly, that the current global financial system is rotten and corrupt and that it requires a change from the groundup to avoid the emergence of new crises.
”The world needs a [...]
Unemployment has reache 8.1% in the U.S. in February. This is the highest rate of unemployment reached in the U.S. in the last 25 years.
Americans Employers have made 651,000 people in February, inducing an advance rate of unemployment to maximum of the last 25 years, in the context in which firms face with difficulties because [...]
The G20 summit decided yesterday in London on a considerable increase of international resources to financial institutions to combat the recession, establishing what the British Prime Minister Gordon Brown called the appearance of “a new world order”.
Leaders of the main economy’s met to “face the greatest challenges in the world economy occurred in modern times”, [...]
