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Bank of Cyprus Warns of Bailout Threat

Posted August 1st, 2011 at 6:25 pm (UTC-5)
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The Bank of Cyprus has called for urgent government action to prevent a financial crisis that would force the island to seek a bailout from the European Union. Cyprus’ largest financial institution warned in a statement Monday that failing to act on the crisis would threaten the economic future of the country. The warning by […]

Tags: , Posted in East Asia Pacific

Expert: Unauthorized Markets Help North Korea Survive

Posted July 19th, 2011 at 7:40 pm (UTC-5)
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An American expert on North Korea says a growing number of people in the impoverished state rely on informal markets to make up for shortages of food and other necessities. Stephen Linton, chairman of the Eugene Bell Foundation, told an audience in Washington Tuesday that the communist government turns a blind eye to many practices […]

Tags: , , Posted in East Asia Pacific

US Trade Deficit Improves

Posted June 9th, 2011 at 10:25 am (UTC-5)
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The U.S. trade deficit improved in April, as exports hit a record while imports of oil and automobiles declined. Thursday’s report from the Commerce Department showed the gap between what Americans sell overseas and what they buy from foreigners narrowed 6.7 percent to a monthly total of $43.7 billion. High prices cut U.S. demand for […]

Tags: , Posted in Economy

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