breakingnews
04.03.2009, 16:19
Between 11.00 and Midday on March 3 the exchange rate on the Armenian Dram jumped from 307 to the U.S. dollar to 355, leaving Armenians facing a price shock, after the Central Bank announced a free floating currency.
28.05.2009, 10:53
The price of gold has surged in 2009. Initially India, the world's biggest buyer of the metal, suffered from a drop in demand, but now it's back and the golden nuggets are once again on the menu.
11.10.2009, 13:00
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“Crisis or no crisis”, Russia’s budget must continue to fund social programs until acceptable standards of living are achieved, President Dmitry Medvedev said during an interview with Russia’s Channel One.
15.09.2009, 09:36
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The past year of economic decline has seen Washington’s influence on the wane, as well as London’s, and the way is now open for other countries to decide policy. Among them: Russia and her BRIC colleagues.
11.09.2009, 09:05
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Hit by the recession, the once-prosperous UK town of Swindon has one of the highest unemployment rates in the country. Many fear it will lead to a whole generation of people who've lost their will to work.
21.10.2009, 16:20
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The Russian economy needs a modernization strategy to stop relying on raw materials to pull the country out of the current financial crisis, Dmitry Medvedev stated, speaking at a meeting with Russian business leaders.
13.11.2009, 20:17
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South Korea and China are setting up shop in the United States’ backyard, as Latin America is searching for countries eager for its resources among Asian economies hungry for raw materials.
16.09.2009, 15:38
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Employees from AvtoVAZ – Russia’s biggest car company from Central Russia’s city of Togliatti – might soon be demoted to making toys, rather than cars, in an attempt to pull through the economic crisis.
12.06.2009, 10:40
India has not emerged unscathed from the global crisis, but it is better off than many Western economies. Its success in IT is well-known, but there are other industries that are just as innovative.
29.05.2009, 18:52
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Russian producers are stepping up their efforts to sell to local supermarkets. First quarter results show food retailers are doing well, But producers say they can't get a foot in the door without state help.
Published: 13 June, 2009, 09:30
Edited: 08 May, 2010, 20:55
Despite a booming economy, the financial crisis has exposed China’s overdependence on exports to maintain its growth. As Beijing struggles to get its economy back on track, it looks to its local consumers for help.
People will always spend money on new affordable housing. So the basis of an internal economic boom is: a. Pay higher wages, with a portion expendable only for house-purchase b. Build new housing, especially in rural areas, with modern conveniences c. Give legal guarantees that purchasers have permanent tenure of land and property. Once people enjoy a new living space they will want to buy furnishings: so a consumer demand will inevitably grow. This can be stimulated by making part of the wages a house-owner earns available only for furnishings or home additions. Stimulating consumer spending and developing growth in an economic area can usually by achieved by making part of a worker's wages, beyond what he requires for daily living, available only for specific purchases.