Egypt's future finance minister said on Saturday it was too soon to say whether the country would take a loan of $3.2 billion offered by the International Monetary Fund to fund its budget deficit.
"It is too soon to know the outcome for this agreement with the IMF for a loan of $3.2 billion dollars, (for) the budget deficit estimated at 134 billion Egyptian pounds ($22 billion)," Mumtaz Said said in a statement.Full Story
German Chancellor Angela Merkel's uncompromising stance on Europe's financial crisis faced mounting criticism Saturday as senior political figures urged her to reconsider her rejection of Eurobonds.
"One cannot categorically rule out resorting to Eurobonds. They could become vital," European Energy Commissioner Guenther Oettinger said in an interview with Die Welt.Full Story
Leaders from across Latin America and the Caribbean pledged to work together to fend off the effects of the world financial crisis and safeguard the region's growing economies.
Several presidents stressed at the start of a two-day summit Friday that they hope to ride out turbulent times by boosting their local industries and increasing trade within the region.Full Story
For more than half a century, the legacy of World War II has meant that the mere mention of a new rise of German power sent shudders through European nations. Now, Germany is increasingly calling the shots for the entire continent — and few seem to mind.
Polish Foreign Minister Radek Sikorski — whose nation lost millions of people in the Nazi invasion and occupation — shocked many this week when he made a dramatic appeal for greater German influence.Full Story
Hoping to harvest some fresh cash, the online game company behind "FarmVille" said Friday that it plans to raise $1 billion in an initial public offering of up to 100 million shares.
Zynga Inc. is the latest in a spate of IPOs by Internet companies this year, ranging from professional networking service LinkedIn Corp. to the online deals site Groupon Inc.Full Story
The US Justice Department on Friday approved Google's $400 million acquisition of Admeld, a company that provides an online advertising platform for publishers.
The Justice Department said that a review of the transaction by its antitrust division had concluded that it was "not likely to substantially lessen competition in the sale of display advertising."Full Story
China's commerce minister says his government wants to convert some of its huge holdings of U.S. government debt into investment in American roads and railways.
Chen Deming told a business group Friday his government wants to expand commercial and investment cooperation with the United States in infrastructure, clean energy and technology industries.Full Story
Under the patronage of Prime Minister Najib Miqati, Cisco, the European Investment Bank (EIB), and Riyada Enterprise Development (a member of the Abraaj group) jointly announced Thursday the launch of the US$ 50 million Lebanon Growth Capital Fund which will provide long-term capital and institutional support to small and medium enterprises (SMEs) in Lebanon.
The announcement was made at a high-profile ceremony in Beirut attended by the business community, investors, government, entrepreneurs and the media.Full Story
A rally on global markets stalled Thursday as euphoria over major central banks' coordinated cut to borrowing costs wore off and investors sought confirmation that European leaders will next week deliver a long-term solution to the debt crisis.
Markets had jumped on Wednesday when the central banks of Europe, the U.S., Britain, Canada, Japan and Switzerland made it cheaper for banks to borrow dollars, helping them to operate smoothly at a time of tight credit. China's central bank also acted to release money for lending and shore up growth by lowering bank reserve levels for the first time in three years.Full Story