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KUALA LUMPUR: Malaysia plans a small international bond issue next year to fund part of its budget deficit, although the majority of the expected deficit of 5.6% of gross domestic product (GDP) will be funded domestically, Prime Minister Datuk Seri Najib Tun Razak told i>Reuters/iyesterday.
In an interview with i>StarBiz/i>, Jomo Kwame Sundaram, now serving as United Nations assistant secretary-general for economic development in the Department of Economic and Social Affairs, addresses issues with regard to the world economy and the way forward.
Iraqi officials cheered and clapped as the first oil field up for bid went to a major international consortium at the opening of the country's biggest postwar auction Friday. But from there, the chill set in.
WASHINGTON: The Obama administration has extended the US$700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits.
CHARLOTTE, North Carolina: Bank of America Corp. said Wednesday it has repaid the entire US$45 billion it owed U.S. taxpayers as part of the Troubled Asset Relief Program.
TEN years ago, as the Asian financial crisis was wreaking havoc and countries in the region were engaged in some serious economic firefighting, I had a heated discussion with my fellow journalists discussing the once-in-a-generation turmoil before us.