(Reuters) - The People's Bank of China said big banks would have to hold 11 percent of their deposits in reserve at the central bank as from May 15, up from 10.5 percent now.
It is the fourth increase in reserve requirements this year and the seventh since June 2006.
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Saturday, April 28, 2007
Fed's Yellen-downturn in US economy possible
(Reuters) - "I'd like to highlight three risks to the global economy. the first pertains to the U.S. economy, itself, where there is potential for a downturn that could have major spillover effects around the globe" she said.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Siemens chairman has 5 CEO candidates
(Reuters) - The new chairman of German conglomerate Siemens has a wish list of five candidates to succeed Chief Executive Klaus Kleinfeld, who resigned this week, German magazine Focus reported on Saturday.
Kleinfeld tendered his resignation on Wednesday after the supervisory board hesitated to renew his contract, which expires in September, leaving a power vacuum at Siemens after Heinrich von Pierer resigned as chairman last week.
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Kleinfeld tendered his resignation on Wednesday after the supervisory board hesitated to renew his contract, which expires in September, leaving a power vacuum at Siemens after Heinrich von Pierer resigned as chairman last week.
Read more at Reuters Africa
Opel Belgian plant on strike at least to Thursday
(Reuters) - GM's decision is another blow for the auto industry in Belgium. Last year Volkswagen announced it would slash the workforce of its Brussels plant to 1,500 from over 5,000.
Europe's largest carmaker eventually offered the plant the prospect of building the new Audi A1, securing 2,200 jobs, but only after workers had accepted longer hours for the same pay.
Read more at Reuters.com Bonds News
Europe's largest carmaker eventually offered the plant the prospect of building the new Audi A1, securing 2,200 jobs, but only after workers had accepted longer hours for the same pay.
Read more at Reuters.com Bonds News
Air France raises fuel surcharge by 5 euros
(Reuters) - Air France-KLM said on Saturday it would raise its fuel surcharge on long-haul flights due to the rise in oil prices.
The airline said Air France would increase its fuel surcharge by 5 euros. The rise would not apply to short-haul and medium-haul flights.
Read more at Reuters Africa
The airline said Air France would increase its fuel surcharge by 5 euros. The rise would not apply to short-haul and medium-haul flights.
Read more at Reuters Africa
UN lifts Liberia diamond ban
(Reuters) - The U.N. Security Council on Friday lifted a 6-year-old ban on Liberian diamond exports aimed at stopping so-called blood diamonds -- used to finance wars in Africa -- from reaching the world market.
The unanimous vote by the 15-nation Council was in "recognition of the progress made by Liberia" in setting up controls on its diamonds, which helped fuel a 14-year civil war that ended in 2003, British Ambassador Emyr Jones Parry said.
Read more at Reuters Africa
The unanimous vote by the 15-nation Council was in "recognition of the progress made by Liberia" in setting up controls on its diamonds, which helped fuel a 14-year civil war that ended in 2003, British Ambassador Emyr Jones Parry said.
Read more at Reuters Africa
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