Spain’s jobless claims rise again in November

Spain’s registered jobless rose for the fourth consecutive month in November official data showed on Wednesday, and was seen edging higher as the recession weighs and a multi-billion euro stimulus package loses steam. The Spanish economy is not expected to emerge from recession until next year as it reels from the collapse of a decade-long…

Some Emiratis glad Dubai’s ambitious plans dented

Dubai nationals were alarmed by the fallout from the emirate’s debt standstill, but many hope the crisis may stem the torrent of foreigners into the conservative Gulf Arab city, where locals are outnumbered ten to one. The freewheeling emirate, one of seven that form the United Arab Emirates, sent jitters through global markets last week…

Uganda poised to become top-50 oil producer

A deal last week has brought Uganda a step closer to becoming a significant oil producer, offering billions of dollars of fresh investment to develop newly discovered oilfields. Italian energy giant Eni said on Monday it had agreed to buy a stake in two large oil exploration blocks in Uganda for up to $1.5bn. For…

Honduras coup tensions take toll on economy

Business was bad in Honduras even before the president was ousted in a June coup, unleashing months of political turmoil that have deepened the impoverished country’s economic woes. Honduras was already suffering from the recession in the US, its top trade partner, due to slack demand for its key clothing exports and a plunge in…

US coal industry stakes survival on carbon capture

A looming government clampdown on CO2 emissions is about to confront an already embattled US coal power industry with two stark options: capture carbon or die. Legislation from Congress or tough new regulatory demands could make it costly to spew greenhouse gases, posing a serious threat to the nation’s coal-fired power plants. With coal the…

Instant warm-up: InstaForex Award

As a result of the upsurge in interest there are more and more companies interested in Forex, all the more under the conditions of the world financial crisis, as many other financial market segments at best stand as “air bags” and at worst, as high risk ventures. New players in the Forex market are not…