South Africa has been home to one of the fastest growing derivatives markets in the world. A merger of the two leading exchanges in the country could cement the market’s global position, reports Liz Salecka.
Lebanon’s destiny has often been closely interwoven with that of its larger neighbour, Syria. Indeed, for 15 years, from the end of the civil war until 2005, the Syrian government would simply hand over to the Lebanese prime minister a list of which ministers it wanted in the Lebanese government, according to some reports.
Nouriel Roubini, founder of RGE Monitor, says it is time to nationalise banks in the US and Europe.
A year ago, I predicted that losses by US financial institutions would be at least US$1tn, and possibly as high as US$2tn. At that time the consensus was that such estimates were grossly exaggerated, as the naïve optimists had in mind about US$200bn of expected subprime mortgage losses.
While the credit crunch and falling oil prices may have taken some of the wind out of the sails of the renewables industry, the future is still promising, writes Liz Salecka.
The clean energy sector is already feeling the impact of the credit crunch and downturn in the financial markets.
Kuwait’s domestic economic conditions have dovetailed with the international crisis to create the perfect storm, reports Hugh Miles.
Initially, many analysts thought the worldwide financial turmoil would sail harmlessly by Kuwait. Then, last October, Kuwait’s fourth largest lender unexpectedly revealed massive losses related to derivatives trading. Gulf Bank lost KD375m (US$1.4bn) when the euro fell against the dollar.