Longstanding dream of dealing oil in Euro in place of dollar, of Hugo Chavez seems to be taking shape as Iran has announced to shift its foreign currency reserves from dollar to euro. Therefore, now euro will be used for all oil deals of Iran in response to the increasing pressure on the economy mou[...]
Posts Tagged ‘Business’
July 9th, 2012 - 11:21 am § in News Of Economy
Tehran dropped dollar for overseas transactions, future oil deals in euro
July 9th, 2012 - 11:21 am § in News Of Economy
U.S.-China Economic Dialogue: Skepticism prevails on both sides
The recently held U.S.-China strategic dialogue is now triggering fierce debate in both the countries. The U.S. Treasury Secretary Henry Paulson now seems to be heading towards a clash with the new Democratic-controlled Congress on China issue following his softened criticism of China’s curren[...]
July 9th, 2012 - 11:20 am § in News Of Economy
Venezuela-U.S. trade soaring high despite political tensions
Despite uneasy relation between Venezuela and the U.S. the trade relationship between these two countries are souring high. No matter, even if Hugo Chavez has launched an incessant tirade against the U.S. but it seems these political outbursts from both sides, has nothing to do with the economic rel[...]
July 8th, 2012 - 11:20 am § in News Of Economy
Ukraine’s economy reels under gas price hike
As Russia doing away with the Soviet era practices completely of providing oil and gas to former Soviet republic at subsidized rates, Ukraine’s leading industries are quite skeptical to their future. The root of the problem dates back January last year when Gazprom had started playing hardball[...]
July 8th, 2012 - 11:19 am § in News Of Economy
Will there be a breakthrough in Doha round talks this year?
A fresh spell of international efforts is likely to start this month to lease a fresh life to the failing Doha trade talks, what could better be translated as the final attempt to make Doha round successful. Diplomatic efforts and talks are already underway to save the package of liberalization meas[...]
July 8th, 2012 - 11:18 am § in News Of Economy
U.S. Manufacturing Sector up, Fed cites slower growth ahead
The U.S. manufacturing sector bounced back in December after a sluggish phase of November, while housing sector continued to fall though less than expected in November, according to recent data. However, these encouraging data remain short-lived as the Federal Reserve while suggesting a moderate eco[...]
July 7th, 2012 - 11:18 am § in News Of Economy
OECD urges Euro Nations for greater deficit cuts and bold reforms
The Organisation for Economic Co-operation and Development (OECD) has recently warned Eurozone countries to cut their budget deficit and to make laour market more competitive. The OECD further stated that European Central Bank interest rates are still below a neutral level supporting economic activi[...]
July 7th, 2012 - 11:17 am § in News Of Economy
U.S. Congress passes pay-as-you-go rules to control budget deficit, earmarks under scanner
The U.S. Congress on its second day under Democratic management overpoweringly approved new rules pertaining to restrain deficit spending and making special-interest projects known as earmarks transparent. Following the latest provisions, the Congress would be required to pay for any proposal to cut[...]
July 7th, 2012 - 11:17 am § in News Of Economy
Democrats to repeal energy tax breaks in U.S.
With taking control of Congress Democratic lawmakers seem to come heavy on oil companies as they are planning to roll back energy tax breaks and place a new royalty payback plans. This move in its all probability will certainly unsettle U.S. oil companies as it would cost them billions of dollars. D[...]
July 6th, 2012 - 11:16 am § in News Of Economy
EU to mount pressure on US for subsidy cuts to revive global trade talks
Negotiations between the U.S. and the European Union have triggered hopes to rescue the stalled talks on global trade liberalization. Peter Mandelson, EU trade commissioner in high level talks with US official is likely to escalate pressure on U.S. to agree in principle to radical cuts in its farm s[...]