The Bank of Japan is withdrawing $5bn funds it poured into the money market in the past two working days amid signs that the liquidity crunch may not be as bad as it was initially conceived, with the calm slowly returning to global financial markets. The Bank of Japan has injected money over the con[...]
February 2nd, 2012 - 1:58 pm § in News Of Economy
In Reversal, Bank of Japan retrieves injected money
February 2nd, 2012 - 1:56 pm § in News Of Economy
European markets set to rebound but Asian counterparts continue to fall
The US subprime mortgage monster has already eaten up many markets. All major central banks have come up to protect their economies. Western economies seem to have somewhat left the darker period behind, but budding Asian economies seem tied in the knot of subprime elf. Wall Street shows signs of re[...]
February 2nd, 2012 - 6:40 am § in News Of Economy
Five central banks unite to inject cash into the global econom
In an unprecedented move five major central banks of rich nations including the Bank of England, the US Federal Bank, European Central Bank and the central banks of Canada and Switzerland have come together to inject new money into the global economy to ease the financial crunch that is threatening [...]
February 1st, 2012 - 1:55 pm § in News Of Economy
Nikkei bounces back, registers biggest gains in 13 months
The Nikkei stock exchange showed signs of recovery after hurt by the US subprime mortgage. It rose 458.80 points, or 3%, to 15,732.48, which is the biggest one-day percentage gain in 13 months. Market responded well as dollar got strength and traded near �114.70 a dollar, notably it fell to year l[...]
February 1st, 2012 - 1:54 pm § in News Of Economy
NASDAQ to sell stake in LSE, eyes OMX
NASDAQ decided to sell its stake in London Stock Exchange after failing to buy it. US stock exchange has around 31% shares in the London Stock Exchange, which are worth £797m ($1.58bn). Earlier, NASDAQ sought to buy it and proposed a bid. To make the deal look more respectable, NASDAQ bought shares[...]
February 1st, 2012 - 6:40 am § in News Of Economy
Economic-mercies dilute rising oil price-burns on poor Africa
The spurt in oil prices has hurt the global economies, with its epicenter in some African countries. Here, we are here not talking about oil-rich nations like Nigeria, but of the 13 non-oil-producing African countries, including South Africa, Ghana, Tanzania, Ethiopia and Senegal. With the oil price[...]