Category: Other

TOKYO, Aug 14, 2007 (AFP) – The Bank of Japan said Tuesday it will withdraw 600 billion yen (5.0 billion dollars) from the short-term money market through sales of treasury notes, a move aimed at easing excessive liquidity.The step came after the central bank had injected 600 billion yen into the banking system on Monday […]

NEW YORK, Aug 13, 2007 (AFP) – Goldman Sachs, considered one of Wall Street’s most prestigious investment banks, said Monday it had joined with other investors in a three-billion-dollar bailout of a hedge fund it manages. Goldman said it was pumping funds into the Global Equity Opportunities (GEO) hedge fund after recent financial market volatility […]

TOKYO, Aug 14, 2007 (AFP) – The world’s oldest person Yone Minagawa, who has died at age 114, was as sprightly as ever until the moment she got into bed for her eternal rest, her caretaker said Tuesday.Minagawa, who enjoyed good food and a bit of alcohol, died Monday at a nursing home in Japan’s […]

SYDNEY, Aug 14, 2007 (AFP) – Army chiefs from 19 countries, including the United States, Japan and India, met secretly in Sydney ahead of an Asia-Pacific summit in the city next month, the country’s army chief revealed Tuesday. The presence of the military leaders in Sydney, including US General George Casey, at the same time […]

TOKYO, Aug 13, 2007 (AFP) – Japan’s central bank announced Monday it will inject 600 billion yen (5.0 billion dollars) into the banking system to avert liquidity shortages after recent turbulence on global financial markets. The Bank of Japan had already pumped one trillion yen into the money market on Friday as part of a […]

SYDNEY, Aug 13, 2007 (AFP) – Australia’s central bank Monday said it saw global growth as strong despite the uncertainty created by the crisis in the US home loan market. The Reserve Bank of Australia (RBA) said rising delinquency rates in the US sub-prime housing market had resulted in a marked increase in volatility in […]

TOKYO, Aug 13, 2007 (AFP) – Japanese share prices rose 0.48 percent in morning trade Monday after Wall Street staged a late recovery Friday, although investors remained nervous about US mortgage problems, dealers said. Mizuho Financial Group fell 1,000 yen or 0.1 percent to 706,000, but Shinsei Bank rose five yen or 1.3 percent to […]

BRUSSELS, Aug 13, 2007 (AFP) – The emergency action taken by central banks, injecting money into the banking system, appears to have had the desired effect of calming down the financial markets, the European Commission said Monday. “We are following developments. We do note that markets appear to have calmed,” said Maximilian Strotmann, spokesman for […]

NEW YORK, Aug 12, 2007 (AFP) – Investors are girding for fresh stock turmoil in the coming week after riding a roller-coaster on world markets in recent days, amid fears that US home loan woes could trigger a credit crunch.“The biggest favor he (Bernanke) could do for himself and the markets is not to give […]

PARIS, Aug 11, 2007 (AFP) – US home loan woes caused more turmoil on world markets Friday despite the tens of billions of dollars released by central banks to stop the problem turning into a global economic crisis. A shortage of liquidity would restrict the ability of companies, and eventually consumers, to borrow, potentially slowing […]

PARIS, Aug 11, 2007 (AFP) – Newspapers worldwide fretted Saturday over the extent of the economic damage caused by contagion from US high-risk home loans after market turmoil spread across the globe.According to the paper, Bank of China and China Construction Bank, two of the country’s “big four” commercial banks, have said the crisis has […]