Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.
Industry
Best Reisen Ltd hits big losses due to Egypt troubles
The leading Hungarian tour company, Best Reisen Ltd announced bankruptcy after big losses on its Egypt and Tunisia tour packages.
China eyes big industries in price probes
China’s National Development and Reform Commission or NDRC planned to examine big industries such as petroleum, banking, auto and telecommunications as part of its ongoing investigations on anti-trust violations in the country.
Germany’s bonds drop damp demand improves for safe fixed-income assets
German bonds declined on its second week signaling an improved damp demand for the euro region's safest fixed-income assets.
US consumer prices go up as expected
U.S. consumer prices went up as predicted in July. U. S. consumer prices went up as predicted in July. This increase may console officials of the Federal Reserve program who have been worried about low inflation while they evaluate process on cutting down massive bond buying schemes.
Latest News
North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.
US Airways and American Airlines promised to fight the antitrust lawsuit filed by the US Department of Justice, of which halted the airline companies' USD 11 billion merger.
The Center for European Economic Research reported increased levels of investor sentiment in August.
The Public Company Accounting Oversight Board gave a new proposal allowing auditors to give their commentary on "critical audit matters" in their audit reports.
The Procter & Gamble Company voluntarily recalled some lots of its Eukanuba and Iams dog and cat foods for possible Salmonella contamination.
Retail sales in the US rose in July, signifying better times for the US economy. The Commerce Department revealed that US retail sales rose to 0. 2% in July.
A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.
Studies by financial analysts indicated that the banking sector is recovering and may regain top spot on S & P.
Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.
