The pound dropped to its lowest level in almost two months against the dollar on Wednesday on worries over the UK’s fiscal health ahead of the government’s pre-Budget report.In spite of heightened sensitivity in the foreign exchange market to sovere
LONDON - World stock markets fell Wednesday amid ongoing worries about sovereign credit risks and ahead of a key budgetary policy statement from the British government. In Europe, the FTSE 100 index of leading British shares was down 13.89 points, o
TOKYO, December 9 – Japan’s Nikkei average lost 1.3 per cent on Wednesday as debt problems in Greece and Dubai damped investor confidence and pushed up the yen, weighing on Honda Motor and other exporters.Adding to the downbeat tone, revised gross d
The credit downgrades of Dubai’s government-owned companies have triggered an accelerated payment clause on a $2bn debt issued by the emirate’s utilities provider.Dubai Electricity and Water Authority’s $2bn securitisation programme, Thor Asset Purc
Investor sentiment took a knock on Tuesday after the Dubai government said talks to restructure a troubled state-backed conglomerate at the centre of the emirate’s financial crisis could drag on beyond a previously requested deadline.Abdul Rahman al
Dubai's debt crisis may make a small dent in its greenhouse gas emissions but the Gulf emirate faces an enormous task to cut carbon to the levels to be proposed at the UN climate summit starting this week. Dubai and the rest of the United Arab Emira
LONDON - The Labour government delivers its latest taxation and spending plans next week against the backdrop of soaring national debt and a record recession and ahead of a general election in 2010. Chancellor of the Exchequer Alistair Darling unve
Concerns are growing in the construction industry about the implications of Dubai World’s debt woes on what were thought to be state-backed contracts.The extent to which the construction industry is exposed to Dubai’s building market remains unclear
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