Archive for October, 2008

Giant bailout package boosts Hungarian markets (AFP)

The Hungarian parliament building in the country's capital, Budapest. A $25.1bln rescue package for Hungary from the International Monetary Fund, European Union and World Bank has boosted stocks and the forint, but the economy faces problems on many fronts as the global crisis knocks.(AFP/File/Hrvoje Polan)AFP - A massive international rescue package worth 25 billion dollars from the IMF, the European Union and World Bank has boosted Hungarian stocks and its currency, but the economy faces problems on many fronts as the global crisis rumbles on.

AFP

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European stocks up after Dow surge (AP)

Traders watch terminals as Japan's Nikkei 225 stock index shoots up over 7 percent in early trade Wednesday, Oct. 29, 2008, after big gains overnight in the U.S. The benchmark index rises 540.82 points to 8,162.74 after about an hour of trading. (AP Photo/Katsumi Kasahara)AP - Europe's stock markets opened mostly higher Wednesday after a stunning rally on Wall Street and further gains in Asia overnight as investors awaited possible interest rate cuts from central banks in the U.S. and Japan.

AP

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Russia ratifies treaties with 2 Georgian provinces (AP)

Russian military trucks cross the checkpoint in the Georgian village of Karaleti, some 90 km (56 miles) west of Tbilisi, October 7, 2008. (David Mdzinarishvili/Reuters)AP - Russia's parliament on Wednesday quickly ratified treaties cementing close economic and military ties with Georgia's two breakaway provinces.

AP

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IMF, EU in $25bln rescue package for Hungary (AFP)

The Hungarian parliament building in the country's capital, Budapest. The International Monetary Fund, the European Union and World Bank have come to the rescue of Hungary, throwing the embattled country a 20-billion-euro ($25bln) lifeline as it fights the financial crisis.(AFP/File/Hrvoje Polan)AFP - The International Monetary Fund, the European Union and World Bank have come to the rescue of Hungary, throwing the embattled country a 20-billion-euro (25-billion-dollar) lifeline as it fights the financial crisis.

AFP

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Most Asian markets extend gains after US rally (AP)

Traders watch terminals as Japan's Nikkei 225 stock index shoots up over 7 percent in early trade Wednesday, Oct. 29, 2008, after big gains overnight in the U.S. The benchmark index rises 540.82 points to 8,162.74 after about an hour of trading. (AP Photo/Katsumi Kasahara)AP - Most Asian stock markets rose Wednesday after a stunning rally on Wall Street as investors awaited possible interest rate cuts from central banks in the U.S. and Japan. European markets opened mixed.

AP

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  • Poland plans to help Iceland in financial crisis (AP)