Despite signs of a recovery in the country's economy, Brazil cannot fall in the trap of excessive optimism, Brazilian Central Bank President Henrique Meirelles said.
"There is a wave of optimism in the market, but the exaggerated …
The Portuguese government will make the decision on whether to set up embassies in Southeast Asia and the Gulf region by the end of 2009, Portuguese Foreign Minister Luis Amado announced on Monday.
Upon finishing his tour to Russia…
The latest earnings reports of several large U.S. banking groups lend evidence to a recovery in the global financial industry, said a senior official of U.S. banking giant JP Morgan Chase & Co.
Fang Fang, JPMorgan's China managing …
The Brazilian government said on Monday that the National Monetary Committee had approved a credit line of 4 billion reais (1.78 billion U.S. dollars) for the country's 26 states and the Federal District.
According to the governmen…
Microsoft is planning to invest around 300 million U.S. dollars in several Russian projects over the next three years, said the company's CEO Steve Ballmer here on Monday.
The investment initiatives range from raising computer lite…
General Motors Corp. (GM) announced Monday that it would cut 1,600 white-collar workers this week as a step to cut costs that could help the automaker qualify for more government aid.
GM North American President Troy Clarke announ…
Cambodia expects to regain its status of major rice exporter in the region beside the Mekong River in 2010, on basis of more and more surplus production, national media said on Tuesday.
The kingdom has managed to sell rice to Germa…
Brazil's gross domestic product (GDP) will contract 0.49 percent in 2009, said a market survey released by the country's Central Bank on Monday.
This is the seventh consecutive fall in the projections for this year's GDP growth. In…
A total of 349,837 foreign tourists visited Bangladesh in 2008, about 21 percent higher than that in 2007, local daily The Independent reported on Tuesday.
Nearly 290,000 foreign tourists arrived in the country in 2007, the report …
The number of jobless people in Russia rose by 1.8 million in the first quarter of this year to 7. 107 million amid the ongoing financial crisis, Russia's Federal State Statistics Service (Rosstat) said on Monday.
"The total numbe…
The Minister of Transport, Mr Mike Hammah, on Tuesday appealed to the management of PSC Tema Shipyard Limited to streamline its operations to effectively support the maritime sector.
Mr Hammah said more investments must be put into the …
The Minister for Transport, Mr Mike Hammah has urged the Ghana Ports and Harbour Authority (GPHA) and other stakeholders in the maritime sector to be proactive towards the achievement of the gateway project.
Mr Hammah said the succes…
The Kumasi centre of Alliance Francaise, in collaboration with the French Embassy and CIRAD, an international agronomic institute, has held an exhibition on coconut and the oil palm tree in Kumasi.
The exhibition was to sensitis…
Hyundai-Kia Automotive Group, South Korea's top carmaker, is recalling 48,636 vehicles of its 10 models as problems with their brake lights were detected, South Korea's Korea Times reported Monday.
Vehicles subject to the recall in…
Vietnam Food Association said that Vietnam has so far this year exported 1.82 million tons of rice, bringing in export turnover of 736.66 million U.S. dollars, up 70 percent in volume and 80 percent in value against the same period last ye…
The world's largest industrial fair opened here on Sunday evening, showcasing latest industrial technologies, materials and product ideas.
The Hanover Fair was jointly declared opened on Sunday evening by German President Horst Koe…
Ghana is joining the world to celebrate the 90th anniversary, this year, of the International Labour Organisation (ILO), beginning with a series of activities from Tuesday.
The anniversary is being observed in Ghana by the ILO's proje…
Indonesian telecommunication company, PT Telekomunikasi Indonesia (Telkom), dominates the international call market in the country, a Telkom official said here Monday.
Telkom's Marketing Communication and Public Affairs VP Eddy Kur…
Indonesian capital market retains its position as the third most optimistic market in Asia Pacific region in the first quarter this year, but investors still take cautious stance to invest in the country, a survey revealed here.
T…
South Korea is expected to show the fastest recovery pace among the world's major economies as output and foreign liquidity expand, a report showed Monday.
According to the report by the Organization for Economic Cooperation and De…
The International Monetary Fund ( IMF) is expected to sharply cut its 2010 growth outlook for South Korea to 1.5 percent amid a protracted global recession, local media said Monday.
According to local daily Munwha Ilbo, the growth…
Oil giant Exxon Mobil Corp. has regained the top of the Fortune 500 list of the biggest U.S. publicly traded companies, despite the sharp fall in oil prices.
The list, which was released Sunday, pegs Exxon Mobil's 2008 revenue at a…
JP Morgan Chase & Co., one of the biggest U.S. banking groups, has survived the current financial crisis largely unscathed as the company announced better-than-expected first quarter results.
In a recent interview with Xinhua, Fan…
South Korean listed firms' debts soared 39 percent in 2008 from a year earlier amid cash squeeze triggered by an economic slump, the Korea Exchange (KRX) said Monday.
The total debts of 552 listed firms amounted to 118.36 trillion …
Expansion of Cambodia's rubber cultivation will lose momentum by an estimated 61 percent in 2009 year-on-year, said government figures released here on Monday.
An additional 10,000 hectares of rubber trees would be planted in 2009 …
Tokyo stocks rose slightly Monday on bargain hunting.
The 225-issue Nikkei Stock Average rose 17.17 points, or 0.19 percent, from Friday to 8,924.75.
The broader Topic index of all First Section issues on the Tokyo Stock Ex…
The U.S. dollar traded at the lower 99 yen level early Monday in Tokyo, higher than its levels in New York late last Friday.
At 9 a.m., the dollar changed hands at 99.32-37 yen against 99. 08-18 yen in New York and 99.39-41 yen in …
The Ugandan government has suspended seminars by the non-governmental organizations (NGOs) in Karamoja to allow local leaders to concentrate on food production.
"We have suspended all seminars in Karamoja till July to allow leaders…
The Asian Development Bank (ADB) will make a 72 million U.S. dollar loan to central Thanh Hoa province of Vietnam to help develop and upgrade key urban infrastructure and services, the Vietnam News reported Monday.
The loan will be…
The global economic meltdown has an adverse impact on major labor destinations of Nepali workers, but the Nepali foreign employment sector has seen only nominal effects so far, official statistics indicates.
The data compiled recen…
The Thai government plans to seek loans worth of 15 billion baht (422.89 million U.S. dollars) from foreign financial institution to boost the country's tourism industry, which has been hard hit by the recent political crisis, Kobsak Sabha…
Dr Kwabena Duffour, Minister of Finance and Economic Planning, has appealed to mining companies to support the economy by increasing the percentage of foreign exchange earnings retained in the country in the light of the global financial c…
A Development Planner has cautioned African governments against the exploitation of the current financial crisis in the Western countries as excuses for inactions and development failures.
Mr Nyaaba-Aweeba Azongo, Consultant to the Natio…
The management of Honda Place Ghana Limited, a subsidiary of Stallion Motors Ghana Limited has introduced Honda City 2009 model saloon car onto the Ghanaian market.
The car introduced in some parts of the world, has an extra active a…
Some foreign investors operating in the Tema industrial area have pleaded with regulatory enforcement bodies to consider fining defaulting companies instead of closing them down.
They said closing down of firms does not only affec…
Vodafone was officially launched in Ghana on Wednesday night with a pledge that it would provide customers with the highest quality and most reliable mobile network.
After buying a 70 per cent shareholding in the Ghana Telecommunicat…
Mr Edward Dua-Agyeman, Auditor-General, on Thursday noted that effective auditing at the Metropolitan, Municipal and District Assemblies (MMDCEs) was crucial in ensuring the success of the decentralization process.
"It is therefore n…
Shareholders of HFC Bank on Thursday approved a resolution authorizing the Board of Directors to raise 30 million dollars in ordinary shares from strategic investors, including the 10 largest shareholders, to enable the bank to meet the ne…
The Ghana, will in March next year conduct
a population and housing census to determine her population to inform development decision making.
The exercise, estimated to cost about 48.9 million dollars, would provide demographic and…
Ghana's statistical system, generally considered
as one of the weakest link in the country's socio-economic drive, is to be revamped to make for a more efficient development planning, Vice President John Dramani Mahama announced in Accra…
One of the most laudable benefits showing from the recent redenomination of the Cedi has been the drastic cut in the sheer volumes of physical cash which Ghanaians were obliged to tug about for payment for goods and services in their day-t…
Mr Francis Nana Baffoe Appiah of the research unit of Liberty Capital Ghana Ltd, an investment advisory company at Tema, has advised young Ghanaian investors to see companies' prospectus as major sources of information for their investment…
The Accra bourse on Tuesday fell in a dull market that saw a mere 2,500 shares exchange hands.
The GSE All-Share Index, the benchmark measure of performance of the Ghana Stock Exchange (GSE), went down by 5.38 points to end the sessi…
Mr Zakaria Alhassan Gundaa, Northern Regional Chairman of the People's National Convention (PNC) has offered free ploughing services to some 550 farmers in eight districts of the region through his personal resources.
In addition to…
The Savanna Cement Company Limited (SAVACEM) would produce an initial 1000 tons or 20,000 bags of cement per day when it starts production by the middle of the year.
According to a geological survey, the potential resource of cement …
The Savanna Cement Company Limited (SAVACEM) would produce an initial 1000 tons or 20,000 bags of cement per day when it starts production by the middle of the year.
According to a geological survey, the potential resource of cement …
A group of Chinese tourists on Thursday announced a travelling expedition from Ghana across the Sahara desert to help them learn more about Africa and also promote Ghana and the continent as a good tourist destination for other Chinese.
…
Ghana Telecom (GT-Vodafone) on Thursday agreed with the National Communications Authority (NCA) that mobile number portability (MNP) was cumbersome and costly, saying the experience of other jurisdictions indicated that MNP usually led to …
In continuation of efforts to devise ways of mitigating the prevailing financial crisis, the Economic and Development
Research Department of the African Development Bank (AfDB) Group would host a workshop on Friday in Tunis, Tunisia, to e…
The annual inflation rate continues its upward swing, reaching 20.53 percent in March, up from 20.34 percent a month earlier, the Ghana Statistical Service said on Thursday.
Briefing the press on the latest figures, Dr Grace Bediako,…
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