By Denis Dyomkin and Christian Lowe When a Russian sociologist wrote a newspaper column last month suggesting the global financial crisis could cause social unrest, the state media watchdog advised the paper not to spread extremist sentiments. "This is censorship," said Yevgeny Gontmakher, the author of the column and the head of the Academy of
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Insisting on the need to develop new forms of energy, U.S. President-elect Barack Obama on Monday chose as his energy secretary a Nobel physics laureate who is a major promoter of alternative fuels. Obama named Steven Chu, the winner of the 1997 Nobel Prize in physics who was an early advocate for finding scientific solutions
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U.S. President-elect Barack Obama will meet with members of his economic team on Monday, including his nominee for treasury secretary and his pick to run the National Economic Council. Obama's transition office said Obama would hold the meeting in Chicago but gave no further details. In addition to Obama and Vice President-elect Joe Biden, attendees
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China's capital spending slowed in November, rounding out a weak batch of monthly data that has pointed to an abrupt slowdown in the world's fourth-biggest economy — and a challenging policy task in the months ahead. Spending in urban areas on fixed assets from apartments to factories rose 26.8 percent in the first 11 months
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The U.S. dollar hit a two-month low versus the euro and Asia stocks slipped on Tuesday, ahead of an expected 10th rate cut by the Federal Reserve since the financial crisis began and likely dismal results from Goldman Sachs. The Fed is widely seen chopping its benchmark rate by at least a half-a-percentage point to
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Asia stocks edged up on Tuesday and the dollar hit a two-month low against the euro, with investors eyeing what unorthodox policies the Federal Reserve may adopt along with an expected interest rate cut to 0.5 percent or lower. With rates approaching zero, market players are looking for clarity on what policy measures the Fed
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President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat are meeting today in the context of the UN-led talks, and are expected to discuss external relations. Present at today’s meeting will be UN Secretary General’s Special Adviser on Cyprus Alexander Downer and Secretary General’s Special Representative in Cyprus Taye Brook Zerihoun. At their last
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Moody's Investors Service has revised downwards the outlook on the ratings of four banks in the United Arab Emirates — Abu Dhabi Commercial Bank (ADCB), First Gulf Bank (FGB), and Dubai Islamic Bank (DIB) have been changed to 'negative' from 'stable', while the rating outlook on Dubai Bank (DB) has been changed to 'stable' from
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The outlook for the global integrated oil industry is stable, despite the recent steep decline in energy prices caused by worsening global economic conditions and weakening demand, Moody's Investors Service said in a new report. Strong results in the first nine months of 2008 amid high oil and gas realisations have underpinned financial profiles across
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Moody's Investors Service has downgraded the long-term foreign and local currency deposit ratings of Privatbank AS to B2 from B1. The outlook on the long-term foreign and local currency deposit ratings and the bank financial strength rating (BFSR) is negative. Moody's said the downgrade reflects the bank’s weakened profitability, asset quality and lower level of
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