Sudan ‘needs clearer oil-sharing deal’
January 6, 2011
Sudan needs to have greater transparency over its oil revenues to help preserve peace in the region, according to a new report.
Campaign organisation Global Witness says suspicions over how revenues have been shared have added greatly to mistrust between north and south.
US oil spill: ‘Bad management’ led to BP disaster
January 6, 2011
The companies involved in the BP oil spill had made decisions to cut costs and save time that contributed to the disaster, a US panel has found.
In a 48-page report, the presidential commission wrote that the failures were “systemic” and likely to recur without industry and government reform.
U.S. stresses need to reduce China trade imbalance
January 5, 2011
President Barack Obama’s national security adviser pressed for efforts to reduce U.S.-China trade imbalances and also discussed ways to rein in North Korea in talks on Tuesday with China’s foreign minister.
Eurozone inflation soars to new high
January 5, 2011
Eurozone inflation rose in June to its highest since the bloc’s 1999 formation, data showed on Monday as political opposition mounted to an expected European Central Bank move to raise its main interest rate this week.
December auto sales raise hopes for 2011
January 4, 2011
Most automakers ended a challenging 2010 with a strong sales month, raising hopes that the industry could be carrying some momentum into the new year.
China car sales in the fast lane
January 4, 2011
China’s automotive market, the largest in the world, is expected to grow strongly this year in spite of Beijing’s decision to phase out some tax incentives and restrict new car sales in the capital, analysts forecast.
Australian producers face huge floods bill
January 4, 2011
Devastating floods in the north-eastern Australian state of Queensland have wreaked havoc on coal and commodity producers there, industry bodies said, with losses already pegged at A$2bn ($2.01bn) in terms of lost production.
Oil price ‘threat to recovery’
January 4, 2011
High oil prices threaten to derail the fragile economic recovery among developed nations this year, the leading energy watchdog has warned, putting pressure on the Opec oil cartel to increase production.
Facebook worth $50 billion after investment - report
January 4, 2011
Facebook has received investments that place the social network’s value at $50 billion, according to a published report.
Goldman Sachs (GS, Fortune 500) and an unnamed Russian investor have invested $500 million in Facebook, the New York Times reported late Sunday, citing people close to the transaction.
Canadians not singled out for visa fees: U.A.E
January 2, 2011
The United Arab Emirates Embassy in Ottawa says charges levied against Canadians to enter the U.A.E. are no different than the fees paid by citizens of other countries who need visas.