Tag: Economy

UAE economy: Dubai debt crisis update

FROM THE ECONOMIST INTELLIGENCE UNIT Creditors of Dubai World have had their first round of talks about how to deal with the company’s statement that it needs at least six months grace from some of its most onerous debt repayments.…

Rising industrial unrest in China

FROM THE ECONOMIST INTELLIGENCE UNIT Strikes are becoming more common in China, as a result of increasing strains in the labour market. There is a shortage of young workers in coastal areas, partly as a result of stimulus programmes that…

Slovakia may hold up eurozone rescue fund

EUOBSERVER / BRUSSELS – The emerging new leadership in Slovakia has said the country will not contribute its share of the €110 billion rescue package for Greece. In addition, Bratislava is likely not to add its signature to the €750…

France economy being reassessed

FROM THE ECONOMIST INTELLIGENCE UNIT Until recently the debt crisis in the euro area had largely spared France, which had benefited from financing conditions only slightly less favourable than those for Germany. Since the end of May, however, spreads between…

Britons Decidedly Reject Adopting the Euro

(Angus Reid Global Monitor) – Very few people in Britain are interested in adopting the euro as the national currency, according to a poll by Angus Reid Public Opinion. 79 per cent of respondents would vote against this idea in…

UAE finance: Holding pattern

FROM THE ECONOMIST INTELLIGENCE UNIT Creditors of Dubai International Capital (DIC), the private equity arm of Dubai Holding, have been asked to accept a three-month delay in the repayment of a US$1.25bn syndicated loan so as to allow time for…

Turkey to Ship Gasoline to Iran

Iran is expected to receive its first shipment of gasoline from Turkey in at least 18 months in June, industry sources said on Tuesday.

US tells Europe to step up its crisis response

May 27(EUObserver): US treasury secretary Timothy Geithner prodded European policy makers on Wednesday (26 May) to step up their efforts to restore eurozone stability.