US hopes sales of poultry to Russia will resume soon
Washington: The United States remains optimistic it can soon strike a deal allowing its poultry sales to Russia to resume, an embassy official in Moscow said on Tuesday after a top official said US patience was dwindling.
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GMs Daewoo takeover faces $2-b funding hurdle
General Motors Corps takeover of Daewoo Motor faces funding hurdles as creditors clash over $2 billion in promised funds for the new venture, lenders said on Tuesday.
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Amex Q2 profits more than triple to $683m
American Express on Monday said quarterly profits more than tripled from a year ago, when it took a big charge for junk-bond losses, as consumers built up debt and it benefitted from cost cuts.
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Enron deals a mistake: CalPERS
Washington: When Enron Corp collapsed, the California Public Employees Retirement System didnt simply lose money the way many Americans did.
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Tyco posts $2.3 billion loss amid charges
Tyco International on Tuesday posted a $2.32 billion quarterly loss, mostly due to charges associated with restructurings and the conglomerate's recent sale of CIT Group Inc.
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Bush plans big push for trade legislation
Washington: With time running short and the outlook uncertain, US President George W Bush and top aides launched a campaign on Monday to persuade lawmakers to approve a controversial trade negotiating Bill before leaving town for a monthlong August recess.
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Hidden loans propped up Enron: Congressional panel
Washington: Major investment banks helped Enron for years by lending the fallen energy giant billions of dollars via elaborately disguised commodity trades, a Congressional panel said, linking Wall Street more closely to the Enron debacle.
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Court okays independent examiner to probe WorldCom
Washington: The appointment of an independent commissioner to investigate the mismanagement, irregularities and fraud in the WorldCom bankruptcy case has been approved by the federal judge overeeing the charges.
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Court approves WorldCom funding
Washington: A day after filing the world's largest corporate bankruptcy, WorldCom got court approval for $2 billion in funding to keep operating during a reorganisation that, if successful, could erase more than 75 per cent of its debt.
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Sri Lanka investment official sees better times ahead
Colombo: Peering over Sri Lankas main port from the vantage point of a 25th-floor office, the countrys top investment official predicted better times ahead for the war-battered economy.
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Asian markets best performers
Hong Kong: World markets have been on a downward spiral as stock prices have crashed across the world. As this fall spreads across the globe, a study by the ETIG shows that the Asian markets, including India, have fared relatively better.
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IMF says Egypt economy improving
New York: A senior IMF official said the Egyptian economy was improving and the Arab state had not asked to take up a $500 million loan offered by the International Monetary Fund earlier this year.
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