The European Commission asked member states to continue “in depth, independent and impartial investigations to establish the truth, whatever the truth may be” regarding allegations that some EU countries housed CIA secret prisons. According to C.I.A. officials, cited by New York Times, “one jail was a renovated building on a busy street in Bucharest, Romania”. “We are aware of the claims but they are claims. The... [...]

The Nabucco natural gas duct will infuse money in Romania in the guise of tax profits and dividends, will ensure 1.500 jobs, will actuate the Romanian industry and lower the dependency of Russian gas imports after 2014-2015. The government representatives  in Romania, Turkey, Bulgaria, Hungary and Austria signed yesterday in Ankara the intergovernmental agreement to build the pipeline, which will supply Europe with natural gas from the... [...]

China declares in favour of strengthening the international co-operation for counteracting the financial crisis, stated recently a diplomacy statesman from Beijing when he was asked if his country plans to take part at the world financial summit, proposed by USA. “China will continue, from constructive positions the dialogue and co-operation with other states in this matter”, he added. In the same time, India, other big Asian... [...]

One of the world’s large consumers of raw materials, India isn’t afraid of crisis. Instead it is afraid of inflation. Announcing the strengthen of its economical partnership with India, the European Union hopes to take advantage not only from the emergent market, that is forecasted to increase during this year with 7,5%, and also from an economy somehow avoided by the financial crisis that continues to shake USA and the Old... [...]

Citigroup will acquire the banking operations of Wachovia bank, in a deal facilitated by the Federal Deposit Insurance Corp. Citigroup will absorb up to $42 billion of losses in the deal, while the Federal Deposit Insurance Corp. will cover any remaining losses. Citigroup also will grant the FDIC $12 billion. The premises of the transaction are that Wachovia would not fail, that all depositors are protected and there will be no cost to the... [...]

Interesting coincidence! While the French president, Nicolas Sarkozy, demanded from the tribune of the United Nations Annual Meeting, the prosecution of those guilty for the financial crisis and decides in favor of a "covered" capitalism, the FBI launched an investigation in order to clarify if the managers of the 26 institutions on Wall Street may be suspected of financial manipulation and fraud. [...]

World Trade Organization (WTO) set up a review board last week to examine whether Japan has complied with an earlier verdict ordering it to remove duties on South Korean memory chips. Translation.ag The WTO's Appellate Body ruled in November last year that Japan must remove its 27.2 percent countervailing duties on imports of South Korean random access memory chips. But South Korea declared to the WTO's Dispute Settlement Body (DSB) that... [...]

Those who want to purchase a home in the United States have to pay, besides the house, other costs of over 15% of the investment itself. Also, they must take into account the time lost and that they will have to wait many years to recover their investment. Article Translated by: NiC Translation Agency In the last year, U.S. housing prices reduced by 15.9%, according to the index developed by Standard & Poori's and Case-Shiller, which... [...]

U.S. financial group Morgan Stanley and Goldman Sachs have dropped the status of independent investment banks and received approval for converting themselves into bank holdings, governed by the Federal Reserve (Fed). Article Translated by: NiC Translation Agency As a result, the two banks can accept deposits, have easier access to financing from the Fed, and can more easily acquire commercial banks. Morgan Stanley and Goldman Sachs were... [...]

The oil price was steady, yesterday morning, the fluctuations on the electronic stock exchanges from Asia being of some cents.  So, in the early transactions, the oil “light sweet crude”, with delivery next month, was quoted at 94, 19 dolari, with a cent under the reached level on Monday evening at New York. [...]

European Union (UE) could impose, starting this year, taxes for the biodiesel imported from USA, announced the European leaders from the profile industry, attending on Monday at a summit organized by Reuters. The measure could take place because the profitability of many European producers of biodiesel decreased after the quick multiplication of deliveries from USA. [...]

Opposite the collapse of all the international markets, the indexes from Moscow started in 2008 on green color, sustained by the good evolution of Gazprom’s shares, the greatest producer of gas at world level that increased up to 6% in this year. The investors optimism is supplied by the good perspectives of the politic scene, given by the great chances of the Gazproms’ President, Dmitry Medvedev, of succeeding Vladimir Putin... [...]

The unimagined or still unknown risks directed towards the financial stability could prove to be as risky as the ones that are now under the economists’ supervision. The turbulences from the financial markets are converting in a serious difficulty for the economy of the countries from Central and East Europe, as for the ones from the former Soviet space. That’s the conclusion of a study, that isn’t different from the rest... [...]

The authorities from Kiev hope that Ukraine will adhere to World Trade Organization (WTO) in February, 8. Being at the economic forum from Davos, the president Viktor Iuscenko exposed the successes achieved by his country on the way of  carrying out the criteria of being accepted in WTO and called  the investors to buy industrial assets from Ukraine. He even presented a list with the enterprises put for sale. Among the registered... [...]

The crisis of mortgage credits that burst last year in USA didn’t affect Czech. Anyhow, the impact wasn’t felt until the end of last year, when, according a provisional balance sheet, the mortgage area increased up to14%. A double percentage comparative with all the previsions made by experts. The value of transactions from this area increased to about eight billions dollars. The towns which registered the most loan requests for... [...]