Tumble In The Price Of The Oil

Posted in: Business, Featured by Diana Miron | May 5th 2011 | no comments

While some of the things that are happening on an international level make United States to be proud of finally “defeating the enemy”, on the economic side things are not going as well as they are supposed to. Oil price does not reach the supposed target and it even tumbles 7%. The main reason [...]

BP’s Tony Hayward Visits Russia To Ease Kremlin Concerns

By Andrei Lozinschi | June 28th 2010 | no comments

British Petroleum CEO Tony Hayward will meet high ranking Russian officials in Moscow Monday and he will try, during his visit, to ease the Kremlin’s concerns regarding the British group’s local operations following the catastrophic oil spill in the Gulf of Mexico. Russian President Dmitry Medvedev previously questioned the future of British Petroleum, which will spend billions of [...]

China promises billion euros investment in Romania

By Paul Crisan | June 28th 2010 | one comment

China seeks to strengthen its position in Europe and promises billion investment in Ukraine, Romania, Bulgaria and Greece, says Jonathan Holslag, Head of Research of the Institute of Contemporary Chinese Studies in Brussels, quoted Monday by the Financial Times. Dozens of Chinese companies participated this month in a roundtable with Romanian officials in the Shanghai Expo in 2010 and [...]

Canada receives more immigrants in 2010

By Andrei Lozinschi | June 28th 2010 | no comments

Canada amends the 2010 immigration plan to put more emphasis on economic return, the Immigration Minister Jason Kenney announced Saturday, adding that the country wishes to receive 10,000 migrants over the number originally planned. Applicants are particularly concerned "skilled" making their application at the federal level. In total, Canada provides for the arrival of 240,000 to [...]

G20 has not reached agreement on bank charges

By Andrei Lozinschi | June 28th 2010 | no comments

The G20 leaders in Toronto failed to establish a global tax on banks, part of the G20 states considering that Europeans fee required by sufficient safeguards. Britain, France and Germany argued that the tax will limit the type of excessive financial risk assumed by banks, which led to the financial crisis in 2008, so the financial sector to pay part of cost saving lending institutions. [...]

International press – the G20 Summit and the new rules for banks

By Andrei Lozinschi | June 28th 2010 | no comments

Leaders of the world's largest economies on Sunday insisted on implementing tougher rules for managing capital, rules to force banks to maintain a level against future crises.G20 Summit in Toronto from the participants supported the need for banks to maintain sufficient capital available, so they could face a severe crisis similar to that in 2008, informs Financial Times.G20 has reached [...]

Obama and Cameron to save British Petroleum

By Andrei Lozinschi | June 28th 2010 | no comments

Barack Obama and David Cameron have concluded that they must not allow BP to fail because of ecological disaster in the Gulf of Mexico. The oil company started the week with the lowest price of shares in the last 14 years. American president and British Prime Minister agreed in discussions at the G20 summit that British Petroleum should remain a strong and stable Company, [...]

Medvedev wants a special fund for environmental disasters

By Andrei Lozinschi | June 28th 2010 | no comments

The Russian president Dmitry Medvedev proposed creation of a special fund to be supplied with oil companies tax imposed. This money would be used in other disasters such as the Gulf of Mexico. Medvedev, who is in power in the country with the highest energy production, has made a proposal to the G20 meeting in Toronto. He said the G20 leaders asked the experts to consider this proposal [...]

Americans give bad economic advice to Europeans

By Andrei Lozinschi | June 28th 2010 | no comments

At the G20 summit, held this weekend in Toronto, the United States have put increasingly more pressure on Europe to abandon austerity measures. Among those who say that should continue to increase spending growth include Nobel Prize winner for economics Paul Krugman, the American president, Barack Obama, and the U.S. treasury secretary, Tim Geithner. Analysts believe, however, that [...]

Austrian Banks Face Wide Eastern Europe Exposure Risks

By Andrei Lozinschi | June 28th 2010 | no comments

Austrian banks, which became some of the most profitable banks in Europe following their expansion into Eastern Europe after the Cold War, are now suffering because of economic problems in the region, according to a New York Times analysis. The American daily writes that the financial services offered by the Hapsburg Empire seems shabby in this day and age. Low performance loans [...]

Russian President Medvedev Proposes Oil Disaster Insurance Fund

By Andrei Lozinschi | June 28th 2010 | no comments

Russian president Dmitry Medvedev proposed a special tax on oil companies, and the funds obtained from this tax would be transferred to a fund that would assure funding in case of ecological disasters such as the one in the Gulf of Mexico. Medvedev launched the proposition for the creation of a global pollution fund at the G20 summit held in Toronto. The Russian official said G20 [...]

Former U.S. Vice President Dick Cheney hospitalized

By Andrei Lozinschi | June 26th 2010 | no comments

Former U.S. Vice President Dick Cheney, aged 69, who already had two heart attacks, was hospitalized Friday in Washington after feeling ill and will remain in hospital until early next week, said spokesman it."Former Vice President Cheney did not feel well and was seen this afternoon by physicians in their office at (university hospital) George Washington," said Peter Long said in a [...]

First rally in Toronto against the G8 and G20 summits

By Andrei Lozinschi | June 26th 2010 | no comments

Around 2,000 demonstrators noisily protested Friday in Toronto, Canada for the G8 and the G20 to take greater account of human rights at their summits; they are employed by police officers deployed in numbers as high as demonstrators. "The destruction of imperialism", "Down with the G20, the posters could read to about 30 militant groups demanding rights for Indians, immigrants, [...]

U.S. will implement the biggest reform of Wall Street over the past 70 years

By Andrei Lozinschi | June 26th 2010 | no comments

U.S. President Barack Obama, said legislators were able to reach an agreement on financial reform, the first major change for Wall Street in the last 70 years. "We've all seen what happens if there is enough transparency and proper oversight on Wall Street. The reforms will pass Congress and will make Wall Street institutions be responsible, so we can prevent another financial crisis [...]

Dubai inaugurates world’s biggest airport

By Andrei Lozinschi | June 26th 2010 | no comments

Dubai is preparing to shoot down a record with which he will inaugurate the airport on Sunday. Al Maktoum, Dubai World Central International was created to get more passengers than any other airport in the world. Dubai's new airport will be a mammoth five parallel runways, which will take more passengers than pass through O'Hare (Chicago) and Heathrow (London) together, according to the [...]

G20 talks linger, economic solutions yet to be outlined

By Andrei Lozinschi | June 26th 2010 | no comments

G20 leaders fail to reach common ground on strategy for economic recovery, the U.S. should continue supporting the massive investment programs of the state, and Europeans feel that, first, the budget deficits must be reduced. "Countries need to reduce the budget deficits and globally to deal with these imbalances," said British Prime Minister David Cameron, quoted by the Associated [...]

Who will be the next Google?

By Andrei Lozinschi | June 26th 2010 | 2 comments

The race for a successor to the "throne" of search engines, now owned by Google, has started several new companies producing already very promising systems. One hope is Quora women, whose service was launched this week, after long months of testing. The company, based in Palo Alto, California, was founded by two former engineers from Facebook and aims to collect and organize [...]

Cracks found on three Boeing 767 of American Airlines

By Andrei Lozinschi | June 25th 2010 | no comments

Airline American Airlines has revealed cracks in the structure of attaching the reactor on the wings of three Boeing 767 aircraft, announced Tuesday the U.S. Civil Aviation (FAA), stating that the investigation continues. American Airlines made a routine inspection of (its Boeing aircraft) 767 (...) when he discovered the structure of fixing cracks in three reactors (device type) 767, [...]

Hamid Karzai: Replacing Stanley McChrystal will not resolve the conflict

By Andrei Lozinschi | June 25th 2010 | no comments

Replacing master international forces in Afghanistan, General Stanley McChrystal, "will contribute" to the conflict, said spokesman Wednesday Afghan President Hamid Karzai. "The President believes that we are in a delicate situation with our partners in the war on terrorism, and that any vacuum (Power) will not contribute" to the ongoing conflict, Waheeda Omar told a press conference in [...]