Forex firm offers to cut the deck

The plunge of the European common currency has been the market theme for much of 2010. With the euro value declining to the lowest level against the dollar since 2006, foreign exchange trading has given way to extraordinary profit taking. Feeding on turbulence, the forex market offers unparalleled opportunities in both upturn and downturn markets…

Financial services gain human touch in Mexico

Back in the fifties, Mifel was a small company servicing SMEs on financial strategies. Later on, it began to grow a small fund to operate with and eventually obtained the first private concession for an exchange house in Mexico back in the tumultuous and complicated eighties. In 1993, Mifel set up a leasing company and…

Not exactly an Italian holiday

For over three years, Western governments have been battling one of the most severe economic crises of the last century. It commenced with the subprime mortgage crisis in the US, Northern Rock in the UK, Lehmans, and now new rumours of uncertainty coming from Europe. In the midst of all of this, there have also…

Reforming the public sector

Many of these changes and reforms have been possible, through the use of public private partnerships. Shalakany Law Office has been working closely with the three main parties involved; the government, the service providers and the lenders, on a variety of different public partnership projects across different sectors, giving them a unique insight into inner…

Peru’s finance minister to leave this week

Peru’s Finance Minister Mercedes Araoz will be replaced in a cabinet shuffle this week, three sources in the ruling party and close to the government have unveiled. One of the sources said Ismael Benavides, who once led one of Peru’s largest banks, will be the new finance minister and that a swearing in ceremony was…

Mazda recalls 215,000 vehicles in US for steering

Mazda Motor Corp will recall 215,000 Mazda 3 and Mazda 5 vehicles sold in the US because of the risk that they could lose power steering without warning. The Mazda recall of vehicles from the 2007 through 2009 model years was announced in a filing with the US National Highway Traffic Safety Administration. Mazda said…

Australian central bank faces makeover after election

The winner of Australia’s election on Saturday will have the rare opportunity to re-shape the leadership of the central bank, with almost the entire board coming up for reappointment in the next three years. The terms of eight of the nine Reserve Bank of Australia (RBA) board members, including the governor, expire between December and…

World Bank pledges $900m in flood aid to Pakistan

The World Bank will release $900m to help fund relief efforts for Pakistan’s flood disaster as international agencies warned millions of people were at risk from disease. The UN has warned that up to 3.5 million children could be in danger of contracting deadly diseases carried through contaminated water and insects in a crisis that…

UK spending cuts risk turning into demolition job

The British government may find it hard to stick to a coherent strategy as ministries scramble to cut spending by up to 40 percent on Treasury orders. Prime Minister David Cameron, who took office in May, says shrinking the record peacetime deficit from 11 percent of GDP to almost nothing within five years is the…

Asia, LatAm job market spurs Michael Page profit

Recruiter Michael Page posted a 42 percent rise in first-half pretax profit, boosted by growing demand in Asia and Latin America, defying concerns that a sluggish economic recovery would hit job turnover. Michael Page, which finds jobs for people in financial, accounting and legal services, announced pretax profit up to £61.4m in the six months…