UK could become a member of the Asian Bank, set up by China. The appropriate authorities of the country have sent a request to the Government of PRC. However, not all British allies like such an initiative. The White House is skeptical of the possible collaboration in London and Beijing. World...

The monthly report from the International Energy Agency (IEA) has warned that oil prices may fall further considering the surplus amounts of crude supplies and tightening storage capacity in the US. The Oil futures fell sharply on 13 March to tally a weekly decline of nearly 10%. Crude-oil for...

Worldwide Monetary easing indicates falling inflation rate. South Korea joined other economies in global easing by its surprising step to cut interest rates. With South Korea joining the count, the number of central banks that adopted easing of monetary policy this year stepped up to 24....

Buoyed by the gains in the stock market and home prices, US household wealth has increased to hit the highest level ever at a record of $82.91 trillion, according to a report by the Federal Reserve. The combined wealth includes the wealth of US households as well as nonprofit organizations. The...

The International Monetary Fund (IMF) has approved a specific bailout package of $17.5 billion for Ukraine in a step to bolster one of the world’s worst under-performing assets. In a swift measure, IMF has nodded to release $10 billion into Ukraine's troubled economy over the next year while the...

According to analysts of the international rating agency Moody's, world’s oil industry giants - Exxon Mobil Corp and Royal Dutch Shell - unlike its competitors will survive the crisis without significant loss. West Texas Intermediate oil: historical record "Both companies have entered into a...

The European Parliament has established a single limit for bank fee payment by credit and debit cards. Lawmakers were in favor of the introduction of the EU single limit for bank fee payment by credit and debit cards. The corresponding resolution was approved today by a majority vote at a...

Time is running fast for Greece with the recent warning from the Eurozone finance ministers advising the debt-ridden nation on Monday to not waste time and push its reforms faster. The nation’s progress is considered slow bv the Eurozone ministers who have been closely monitoring the country ever...

Greek exit from Eurozone will create a contagion impact across the globe. Greek’s uncertain economy once again slipping back towards recession has increased tensions throughout the Eurozone. Since 2010 the Greek economy has underwent debt crisis when the EU discovered irregularities in accounting...