Category Economy

Did the ABD and World Bank get snubbed by China’s $50 Billion Asia Bank?

On the first evening of the Asian Development Bank’s annual meeting in the capital of Kazakhstan this month, delegates from 16 countries skipped the scheduled Romeo and Juliet ballet for dinner at the Great Wall restaurant to talk about forming a totally different lender. They dined on Peking duck and tofu as China’s Finance Minister […]

Balance of power in the Global Gold Industry moves East as Dubai plans $60 million refinery, spot contract .

In the desert on the outskirts of Dubai, one of the world’s biggest gold refineries is under construction. When completed next year, it will help to alter the balance of power in the global gold industry. Growth in demand for the precious metal is shifting east, to Asia’s fast-growing economies. But key industry activities such […]

Could Chinese money fatally weaken global lenders?

If you can’t beat them, outspend them. That seems to be the thinking behind a huge new infrastructure investment fund being promoted by China as an alternative to established international lending agencies. It’s a terrible rationale for starting a bank – and a good reason to reform the current international system, which remains dominated by […]

Yahoo is put to the test as Alibaba files for the largest U.S. IPO on record, an estimated $150 billion at the time of the offering.

Marissa Mayer is finally set to get a cash infusion from Yahoo! Inc.’s nine-year investment in Alibaba Group Holding Ltd. — along with the pressure of putting the money to work. Yahoo is selling 208 million shares, or about 40 percent of its Alibaba stake, in the Chinese Internet company’s upcoming initial public offering, and […]

Shale Gas on the Rise as G-7 Pledges to Find New Energy Supplies to Counter Russia

The Group of Seven nations agreed to find new sources of energy and expand their natural gas infrastructure to prevent Russia from using its oil and gas reserves as a “political weapon,” German Economy and Energy Minister Sigmar Gabriel said. The world’s leading economies will also increase their efforts to save energy and to use […]

Spain Emerges From a Six-year Slump as Budget Gap Grows

The European Union forecast that Spain will post its fastest economic growth in eight years in 2015 as Prime Minister Mariano Rajoy allows his budget shortfall to rise in the run up to a general election. Spanish gross domestic product will grow 2.1 percent next year and the budget deficit will widen to 6.1 percent of GDP unless Rajoy changes his current policy […]

U.S. Stocks Advance as Employment Report Rise

U.S. stocks rose, with benchmark indexes trading near all-time highs, after data showing payrolls rose in April by the most in two years boosted confidence in the strength of the world’s largest economy. Agnico Eagle Mines Ltd. jumped 5.9 percent after reporting a record quarterly gold production. QLogic Corp., the supplier of chips and switches […]