The president of the Bulgarian Industrial Association (BIA), Bojidar Danev, said that Bulgaria will not manage to overcome the negative effects of global financial crisis until 2012, according to Sofia News Agency.
Danev added that national budget revenues are down and the system bank of the country has deteriorated. BIA President has said that falling liquidity [...]
The director of Budget Bureau from White House, Peter Orszag, said that U.S. economy is not in “free fall”, but not out of danger zone, Mediafax informs.
“Free fall of the economy seems to have stopped”, Orszag Peter said to CNN television. The U.S. economy, biggest of the world, went into recession at the end [...]
The EU economy has reached its lowest point, and recovery could begin next year, according to the Finance Ministers of the Member States, who met in Brussels. The ministers agreed that it is necessary to return to fiscal discipline once the economy starts to grow again.
Finance ministers of the euro area were agreed with [...]
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, [...]
American International Group (AIG) plans to sell its central headquarters of operations in Japan, for about 1 billion dollars to a Japanese insurance company, according to a source close to the transaction.
The transaction would represent one of the biggest sales of assets runed by AIG, to repay government debts created after the state aid received [...]
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 U.S. economy is giving signs of slow but steady growth, announced the International Monetary Fund (IMF).
“There was an improvement in confidence in the business environment, signs of stabilization on mortgage market, but it is still early and should not expect a return on the increase too soon “said Charles Collyns, deputy director of the [...]
Student loan consolidation is a truly useful tool for consolidating student loans and other forms of unsecured debt. If you have outstanding private, direct, Federal and/or medical student loans, then you can go for student loan consolidation.
This would also help you when you have unsecured debts with high interest rates, such as outstanding medical bills, [...]
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 [...]
