Profitloss Centerstage Events

The United Nations Security Council approved a resolution extending the mandate of the UN mission in Sierra Leone takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 2

After seemingly endless rounds of marathon negotiations, the longest summit...

After seemingly endless rounds of marathon negotiations, the longest summit in the history of the European Union concluded in the early hours of Monday with a last-minute agreement. Officials stated that the agreement was reached after much give-and-take, with middle-sized countries such as Portugal and Holland making significant gains while the smallest nations were required to make the maximum concessions. The leaders of the EU endorsed a comprehensive overhaul of house-keeping rules to ensure that the bloc's decision-making capacity would not be overwhelmed with the addition of new member countries.

Monday, 11 December, 2000

Canada has been granted permission by the World Trade Organization...

Canada has been granted permission by the World Trade Organization to levy trade sanctions of up to 344 million Canadian dollars (equivalent to US$226 million) per year against Brazil. This decision paves the way for a potential bilateral trade war between the two countries. The WTO's ruling was based on the finding that Brazil had not adequately reduced export subsidies on products from Empresa Brasileira de Aeronautica SA, commonly known as Embraer, a regional jet manufacturer. Bombardier Inc., a Canadian aircraft company, alleges that Brazil's export program has unfairly allowed Embraer to capture a share of the passenger-jet market that would have belonged to Bombardier.

Tuesday, 12 December, 2000

Taiwan Semiconductor Manufacturing Co. (TSMC), a major chip foundry, has...

Taiwan Semiconductor Manufacturing Co. (TSMC), a major chip foundry, has agreed to acquire its partners' stakes in U.S.-based chip foundry WaferTech LLC for $500 million, as part of its expansion plans for chip-making capacity in North America. Under the deal, TSMC will purchase all of the outstanding shares of WaferTech owned by Analog Devices Inc., Altera Corp., and Integrated Silicon Solution Inc. for about $6 per share. The joint venture was originally established in 1996 and is based in Camas, Washington.

Wednesday, 13 December, 2000

FTC approves the deal, which is now valued at $110...

FTC approves the deal, which is now valued at $110 billion. AOL-Time Warner Megamerger Creates a Web, Media Behemoth.

Thursday, 14 December, 2000

The Bank of Japan announced that it would introduce new...

The Bank of Japan announced that it would introduce new measures to stimulate the country's struggling economy, including the purchase of Japanese government bonds and the expansion of the central bank's balance sheet.

Friday, 15 December, 2000

Think-tanks, analysts, and private or semi-official institutions in Japan have...

Think-tanks, analysts, and private or semi-official institutions in Japan have finally released their assessments about the state of U.S.-Japan relations. These assessments were previously held back, as analysts waited to determine who would ultimately occupy the White House. The evaluations revealed that there are high expectations for Japan's role in the security alliance and U.N. peace-keeping efforts. Furthermore, they highlighted the need for Japan's economy to undergo reform in order to better withstand any impact from a downturn in the U.S. economy, as well as for greater predictability in U.S. conduct and an overall reevaluation of priorities. These issues will feature prominently as both countries begin discussions regarding their important bilateral alliance. Ultimately, much will depend on the state of the U.S. economy.

Saturday, 16 December, 2000

As part of Japan's ongoing effort to address issues at...

As part of Japan's ongoing effort to address issues at its smaller financial institutions, the government announced that it would be sending administrators to take control of the nation's largest credit cooperative and several other small lenders. The Financial Reconstruction Commission revealed that a government audit had discovered that Kansai Kogin, based in Osaka and the country's largest credit cooperative, had liabilities that exceeded its assets by 51 billion yen as of the end of June. Kansai Kogin holds outstanding deposits of 1.13 trillion yen ($10.04 billion) and has loans of 987 billion yen.

Sunday, 17 December, 2000