Category: Economy

Zimbabwe diamond sale under scrutiny

A proposed sale of Zimbabwean diamonds proved controversial, because of disputes over ownership and whether or not the gems are “blood diamonds”. Although the sale was postponed, the issue is unlikely to go away.

No More Business With Iran, Says Siemens

Spiegel Online:  Europe’s largest engineering conglomerate has announced an end to business with Iran. High-tech exports from European firms have worried Western governments in light of Tehran’s apparent ambition to build a nuclear bomb. Now German Chancellor Angela Merkel sees…

World economy: Growth without jobs

A global economic recovery is well under way, but worldwide unemployment in 2010 will nearly match its record level of 6.6% in 2009, according to a new report by the International Labour Organisation (ILO). The spectre of such a “jobless…

Hugo Chávez in combat mode

President Hugo Chávez faces rising discontent in the wake of the devaluation of January 8th and an ongoing electricity crisis. Even so, he has persisted on a radical policy course, nationalising more companies and shutting down a television station critical of…

Unsustainable economic recovery?

FROM THE ECONOMIST INTELLIGENCE UNIT The global recovery is now well under way, with economic conditions improving in most regions. After shrinking by 1% last year, world GDP at purchasing power parity will grow by 3.6% in 2010. However, the…

Uganda’s oil reserves

FROM THE ECONOMIST INTELLIGENCE UNIT A battle is being fought for the rights to Uganda’s burgeoning oil sector. The risks–and rewards–for potential investors are substantial. Uganda has oil–lots of it. Another discovery in the Lake Albert Basin along the Congolese border in fourth-quarter 2009 brought…

Corporate expectations continue to rise: EIU report

When the Corporate Expectations Barometer was launched, it was anyone’s guess how an online survey of business perceptions would fare in predicting the future. The May 2009 baseline survey, conducted by the Economist Intelligence Unit and sponsored by SAP, showed…

Economist sees threat to Euro-zone economic stability

Jan. 27 (Bloomberg) — New York University Professor Nouriel Roubini said he’s never been more pessimistic about the future of European monetary union, saying Spain poses a looming threat to the euro region holding together.

Greek deficit ‘endangers’ euro, EU commission says

EUObserver: Soaring public deficits in euro countries such as Greece weaken the credibility and “endanger” the cohesion of the common currency, according to a leaked European Commission paper. Meanwhile, the Greek finance minister has rejected speculation that his country might…