SME Times News in Global Business

US stocks gain on surprise home sales recovery

Staff Reporter — Tue, 24 Nov 2009 00:00:00 +0530

US stocks surged Monday after the release of some surprisingly buoyant data on home sales.

Tokyo stocks down on worries about domestic finances, strong yen

Staff Reporter — Tue, 24 Nov 2009 00:00:00 +0530

Stocks lost ground in Tuesday morning trading in Tokyo due to concerns about the state of government and private sector finances and the stronger yen.

Peru invites China to invest in industry, banking, ports

Staff Reporter — Tue, 24 Nov 2009 00:00:00 +0530

Peruvian President Alan Garcia has invited China to invest in this country's automobile industry, banking system and port sector when he met Jia Qinglin, a member of the Chinese Communist Party Politburo.

Assembly of Latin America's largest wind farm completed

Staff Reporter — Tue, 24 Nov 2009 00:00:00 +0530

Spain's Acciona Energia said it has completed the assembly of the Eurus wind farm in Mexico, an energy facility with total potential generating capacity of 250.5 MW and costing $550 million.

US will offer emissions reduction target at Copenhagen talks

Staff Reporter — Tue, 24 Nov 2009 00:00:00 +0530

The United States will offer a mid-term target for cutting its climate-damaging emissions when world governments meet for the critical UN-backed Copenhagen summit next month, US media has reported, citing a senior administration official.

Gulf countries, South Korea discuss free trade pact

Staff Reporter — Mon, 23 Nov 2009 00:00:00 +0530

The six Gulf Cooperation Council (GCC) members and South Korea have concluded a three-day technical meeting as part of negotiations for a free trade agreement between the two parties, WAM news agency reported Sunday.

Mexico's economy contracts 6.2 percent in third quarter

Staff Reporter — Mon, 23 Nov 2009 00:00:00 +0530

Mexico's gross domestic product fell by 6.2 percent in the third quarter relative to the same period of 2008, beating analysts' expectations, authorities said.

Stop stimulus, use money to help poor: World's Communists

Staff Reporter — Mon, 23 Nov 2009 00:00:00 +0530

The financial bailout packages by various governments are not radical enough to pull the world out of the economic downturn, but would only help to enlarge the profit avenues of corporate houses, according to communist leaders from around the world.

Dubai Global Tea Forum to start from March 9

Staff Reporter — Mon, 23 Nov 2009 00:00:00 +0530

The third Global Dubai Tea Forum would be organised here March 9-10, WAM news agency reported.

No substitute for US dollar: India PM

Staff Reporter — Mon, 23 Nov 2009 00:00:00 +0530

Describing the downturn in the US economy as a "temporary setback," Prime Minister Manmohan Singh has said there was no substitute to the US dollar for replacement as the global reserve currency.