Oman Investment Fund seeks government nod for UCX stake buy

MUMBAI: Oman Investment Fund (OIF), the Sultanate of Oman's sovereign wealth fund, has filed a fresh application with the government to buy a stake in Universal Commodity Exchange (UCX), promoted by software solutions company, IT People, a person close to the development said.

$44 Billion Trade Deficit, The Other Monkey On The Economy’s Back

In 1992, the trade deficit was $44 billion dollars less than July’s trade report by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. While cutting spending has dominated the economic policy headlines, the other major impediment to growth and balancing the U.S budget isn’t being even looked at…

S. Korean Confidence Falls After Death of Kim Jong Il: Economy

Dec. 27 (Bloomberg) -- South Korean consumer confidence fell to a three-month low in December, as concern the political outlook in the North will worsen in the wake of Kim Jong Il’s death compounds the risk from Europe’s debt crisis.

Don't Worry About China: World Bank Chief Economist

As the Chinese economy tumbles into recession, the World Bank’s chief economist is embarking on a campaign to reverse negative perceptions about his home country’s prospects.

Exclusive: China's CIC to get $50 billion boost

BEIJING (Reuters) - China's $410 billion sovereign wealth fund China Investment Corp. is set to receive additional funding of up to $50 billion, two sources said, a step that could help it move quickly to buy overseas assets, especially in Europe.

Greece’s Creditors Resist Push for More Losses

Greece’s creditors are resisting pressure from the International Monetary Fund to accept bigger losses on holdings of the indebted nation’s government bonds, said three people with direct knowledge of the discussions.

Euro, stocks gain as ECB lending seen positive

(Reuters) - European stocks and the euro firmed on Wednesday, enjoying a brief surge after banks borrowed around $489 billion euros from the European Central Bank at its first-ever offer of three-year loans on hopes it will be a significant step toward easing the region's two-year old debt crisis.

Banking Worries Send Stocks Lower in U.S.

Financial stocks fell by more than 2 percent in the United States on Monday and shares were mixed in Europe after remarks by European Central Bank officials and the prospect of increasing capital requirements suggested further challenges ahead for banks.

Credit Suisse Races UBS Building Buffers in Fortress Switzerland

Dec. 19 (Bloomberg) -- UBS AG and Credit Suisse Group AG, Switzerland’s largest banks, are finding that the advantages of Europe’s toughest capital requirements are helping offset the costs as the region’s sovereign-debt crisis escalates.

Fitch Downgrades Ratings of Bank of America Corporation

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has downgraded the Issuer Default Ratings (IDRs) of Bank of America Corporation (BAC) to 'A/F1' from 'A+/F1+' and the viability rating (VR) to 'bbb+' from 'a-', and removed these ratings from Rating Watch Negative.

Gold Prices Struggle to Stay Near $1, 700

Gold prices fell Wednesday on negative economic news from China and Europe plus concerns that the world's No. 1 economy is barely advancing.

Gas riches near, Israel urged to form wealth fund

TEL AVIV — Like a lottery-ticket buyer suddenly confronted with a jackpot, Israel must take special care not to squander the enormous potential return from its offshore natural-gas fields.

Analysis: China's $300 billion fund a wake-up call to U.S.

BEIJING (Reuters) - China's plan for a new $300 billion sovereign wealth fund is as much a warning to Washington as it is a body blow to Brussels.

Russia told to clean up its act by OECD

Russia is being warned that the country’s future economic growth is likely to be hampered by a poor business environment, a lack of investment in innovation and heavy dependence on oil and gas sales.

Euro zone deal overlooks a major threat: lousy growth

Reuters) - Stricter budget discipline in the 17 countries that use the euro is all well and good, but investors fear it won't provide what the euro zone needs most of all: More economic growth.

Consumer Sentiment in U.S. Climbs

Confidence among U.S. consumers rose more than forecast in December as Americans’ outlooks improved.

Bargain Bank Values in Europe Fail to Lure Buyers Amid Crisis

Dec. 8 (Bloomberg) -- European banks are struggling to find buyers for at least $32 billion of businesses earmarked for sale as the sovereign-debt crisis drags on, raising the likelihood they’ll have to settle for fire-sale prices.

Consumer bureau chief showdown looms

WASHINGTON (CNNMoney) -- The Consumer Financial Protection Bureau -- a point of pride in the Obama administration's efforts to reform Wall Street -- faces a key test in the Senate on Thursday over whether it will have a director with real power.

S.&P. Warns Europe of Ratings Downgrades

Standard & Poor’s on Monday warned that it may strip the euro zone’s two biggest economies, Germany and France, of their top-notch AAA credit ratings as a result of the Continent’s economic crisis.

A change in attitudes key challenge for Greece

The crippling debt crisis has dominated Greek political life for the past two years but more than an economic problem, a solution requires a fundamental change in attitudes, analysts say.

8.6% unemployment rate won't help Obama (much)

NEW YORK (CNNMoney) -- The November jobs report contains some undeniably good news for President Obama, but the White House should keep the champagne on ice for now.

Crisis 'will take years to fix', says Angela Merkel

German chancellor Angela Merkel has said there is no easy fix to the European financial crisis, and that a solution will "take years".

Save The Eurozone! Restructure Italy, Get Germany To Pay, ECB To Backstop

With the European sovereign debt crisis spilling into core members, as evidenced by Germany’s failed bond auction last week, and into the private sector, there appear to be three key steps needed to save the Eurozone, as NYU economist Nouriel Roubini and Poland’s Foreign Minister Radoslaw Sikorski explained in op-ed pieces on Tuesday.