Saturday 22 November 2008
Gazprom threatens to cut off Ukraine gas
Russian national gas company Gazprom has told Ukraine it will cut off gas supplies to its neighbour at the beginning of January if a new contract is not agreed.
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- UKRAINE
- Gazprom threatens to cut off Ukraine gas
- Saturday 22 November 2008
- Russian national gas company Gazprom has told Ukraine it will cut off gas supplies to its neighbour at the beginning of January if a new contract is not agreed.
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- ELECTRONICS
- Philips to lay off 1,600 employees
- Saturday 22 November 2008
- Electronics giant Philips will dismiss 1,600 employees worldwide, about five percent of its medical division, to maintain profit levels despite a sluggish economy.
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- BANKING
- Citigroup considers sale as shares plummet
- Friday 21 November 2008
- In just one week, Citigroup shares lost half their value on the stock market. The US financial institution may be forced to sell some of its assets or even consider a merger with another firm, according to the Wall Street Journal.
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- NETHERLANDS
- Dutch govt rolls out €6bn stimulus package
- Friday 21 November 2008
- The Dutch government announced Friday a six-billion-euro stimulus package, as well as official plans for the Fortis takeover of ABN Amro to "build a new, strong bank," in the words of Finance Minister Wouter Bos.
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- FINANCIAL CRISIS
- Wall Street closes on reassuring upswing
- Friday 21 November 2008
- After a day of worrisome fluctuations, the Dow closed at +6.59%, with an overall upswing of 500 points for the week.
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- FRANCE - INDUSTRY
- Crisis hits all sectors, from food to cars
- Friday 21 November 2008
- Dijon will lose its legendary mustard: French mustard brand Amora Maille has announced the closing of its historic production sites in the capital of Burgundy. Carmakers Renault and Peugeot have also announced massive job cuts.
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- CAR INDUSTRY
- Ford calls for EU loans to help meet green targets
- Friday 21 November 2008
- The German branch of US carmaker Ford has asked the European Union to grant a 40-billion-euro loan to the car industry in order to help companies comply with EU requirements on fuel efficiency and emissions.
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- DUBAI
- Spectacular inauguration of a luxury hotel amid crisis
- Friday 21 November 2008
- Just as Dubai begins to feel the pinch of the economic crisis, the emirate inaugurated a new luxury five star hotel built on an artificial island, with a star-studded "party of the decade", costing a whopping 20 million dollars.
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- Friday 21 November 2008
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