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India's finance minister is seeking to dispel rumors of an impending major bank failure, amid the global economic turmoil. After opening near a two-year low, India's major stock indexes recovered in Tuesday trading, in contrast to most bourses elsew
MADRID, June 29 (Xinhua) -- The Spanish stock market suffered this year's third major downfall on Tuesday (-5.45 percent) as a result of the banking sector's liquidity problems. Fears of a double dip world recession grew sharply ahead of U.S. jobs re
NICOSIA, March 19 (Xinhua) -- Cyprus' parliament rejected a Eurogroup imposed haircut on bank deposits on Tuesday, plunging the eastern Mediterranean island into economic uncertainty verging on uncontrolled default. The 56 member-chamber threw out th
By Barry Wood Washington 02 April 2008 The head of the U.S. central bank, Ben Bernanke, told a congressional committee the U.S. economy could face a mild recession, but it should recover later this year. VOA's Barry Wood reports. Federal Reserve Chai
Belgium decided Monday to buy a subsidiary of the financially troubled Dexia bank, the first victim of new European worries about the spread of Greece's debt crisis. The Belgian government said it is paying $5.4 billion to buy the national subsidiary