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US to cut up to 90pc salaries of executives
Washington: US President Barack Obama’s administration will order cash salary cuts of 90 percent on average for top executives at firms that received significant government aid, newspapers reported yesterday.
Seven companies that received the most government assistance at the height of the US fin  [more...]
Posted on:10/23/2009

Global slump pulls Gulf markets down
DUBAI: Markets in Abu Dhabi and Qatar led a broad retreat on most Gulf markets yesterday as tumbling global markets and a decline in oil prices triggered a regional sell-off.
“It’s again very obvious how high the correlation between local and global markets is,” said Samer Al Jaouni, general mana  [more...]
Posted on:10/23/2009

Credit Suisse joins surge in bank profits
Zurich: Swiss banking giant Credit Suisse said yesterday its net profits rose by half in the third quarter, joining a broader surge in banks’ earnings a year after the dramatic collapse of Lehman Brothers.
The bank said net profits rose to SF2.4bn (¤1.6bn or about $2.4bn), up 50 percent from the   [more...]
Posted on:10/23/2009

Sri Lanka to hold construction fair to promote foreign investment
Doha: The Chamber of Construction Industry of Sri Lanka will hold an International Construction Fair from October 30 to November 1 at the Sirimavo Bandaranaike Memorial Exhibition Centre and the BMICH in Colombo, Counsellor of the Sri Lankan Embassy in Doha, A Tharmakulasingham said.
Titled ‘Exco  [more...]
Posted on:10/23/2009

Canada’s central bank sees slower recovery
Ottawa: Canada’s central bank said yesterday the national economy is likely to get a slight boost in the second half of 2009, but a long-term recovery will be slower than previously thought.
Economic growth is expected to be “slightly higher in the second half of this year than previously project  [more...]
Posted on:10/23/2009

Taliban ambush kills brigadier
ISLAMABAD: Gunmen attacked an army jeep in Pakistan’s capital yesterday, killing a brigadier on leave from a UN peacekeeping mission and his driver in the second deadly attack to strike Islamabad in 48 hours.
The brazen shooting in a smart residential district capped a spike in attacks blamed on   [more...]
Posted on:10/23/2009

Afghan MP sees role as king-maker
KABUL: The outspoken candidate who placed third in Afghanistan’s presidential election said yesterday he was considering urging his supporters to boycott the upcoming run-off to protest official corruption.
Ramazan Bashardost, an anti-corruption campaigner and lawmaker, said he was also pondering  [more...]
Posted on:10/23/2009

Security worries rise as Afghans gear up for presidential run-off
KABUL: Afghanistan will hardly have enough time to provide full security during a presidential election run-off in November, a senior official said yesterday as preparations for the second round entered full swing.
With violence in Afghanistan at its worst levels in eight years of war, the run-of  [more...]
Posted on:10/23/2009

UN blames Western inaction in curbing Afghan drug trade
KABUL: As the UN complains about Western inaction to stem a booming drugs trade, experts believe efforts to end opium production in Afghanistan, the world’s biggest producer, are inadequate and misguided.
The UN Office on Drugs and Crime (UNODC) said Afghanistan produces 92 percent of the world’s  [more...]
Posted on:10/23/2009

Congress wins in Maharashtra, Arunachal
Mumbai/Chandigarh/Itanagar: The Congress came up trumps in the electoral sweepstakes yesterday, retaining power in Maharashtra and Arunachal Pradesh but falling short of absolute majority in Haryana, leaving the main opposition BJP further weakened in the first popularity test since the general elec  [more...]
Posted on:10/23/2009