IMF predicts global recession when Greece defaults
With markets predicting a near 100 per cent certainty of Greece defaulting on its sovereign debt the warning from the International Monetary Fund that this will precipitate a crisis that will put the world back…
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LBMA campaigns for gold to be Tier 1 asset for banks under Basel III
European central banks have become net buyers of gold for the first time in more than two decades, a significant sign that the role of precious metals in currency markets is not only being reassessed…
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$1tn Opec oil revenues to be highest in history this year
Organization of Petroleum Exporting Countries are set to being home a remarkable $1 trillion this year in oil revenues, according to the US Energy Department, with oil prices regularly topping $100 for the longest period…
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Italian debt downgrade by S&P to drive stocks and euro lower
This is shaping up to be another tough week in financial markets after S&P downgraded Italian debt following the close of business on Monday. Stock futures and Asian shares tumbled, the euro sank again. Gold…
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Picking up the next bargains in gold and silver
Gold got as high as $1,923 at the end of last month and has traded as much as $200 lower since then. Silver has been less volatile for a change and held steady around $40-42…
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Bloomberg platform plugs into UAE stocks for the first time
UAE investment bank Shuaa Capital and Bloomberg have announced the launch of a direct market access platform for the Dubai Financial Market and Abu Dhabi Securities Exchange through Bloomberg terminals for both local and international…
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Greece ready to default in mid-October?
Will Greece now default because it is unable to meet a mid-October deadline for $11 billion in repayments to its debtors? It looks a very real possibility unless something changes radically on the eurozone political…
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Awaiting the capitulation event as stimulus no longer works
You can hand a heavily indebted person a credit card and let them go off spending for another few months. You could even be kind and foolish and do this again. But you eventually reach…
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Gordon Brown’s plan to save the world from another Great Depression
Asking the former British Prime Minister Gordon Brown how to fix the world economy is a bit like taking advice from Nick Leeson, the man who bankrupted Barings Bank with fraudulent trading. He should know.…
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Will the Arab Spring turn Dubai into the next Hong Kong?
It took the communist revolution in China to really make Hong Kong a major global city with the mass emigration of capitalists and capital after the revolution in the late 40s that brought three decades…
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