Profitloss Centerstage Events

Finance Ministers from the Group of Seven, the G-7 industrialized nations announcing their intention to implement stringent measures against international money laundering takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 1

Venezuelan President Hugo Chavez declares that Venezuela, a crucial member...

Venezuelan President Hugo Chavez declares that Venezuela, a crucial member of the Organization of Petroleum Exporting Countries, will not raise its oil production to reduce global oil prices. The price is approximately $57.26 per barrel of crude oil.

Monday, 3 July, 2000

The International Monetary Fund (IMF) approved a $1.2 billion loan...

The International Monetary Fund (IMF) approved a $1.2 billion loan to Argentina to help stabilize the country's economy, which had been hit by a currency crisis and high inflation.

Tuesday, 4 July, 2000

The European Parliament's decision to appoint a temporary committee to...

The European Parliament's decision to appoint a temporary committee to gather information about Echelon is a response to the concerns of many European leaders and citizens about the scope and purpose of the network. Echelon, the signals intelligence network mentioned in the news, has been a subject of controversy for many years. The committee's work aims to shed light on the extent to which Echelon is being used for espionage against European companies and could provide evidence that can be used in legal challenges to the network's activities.The controversy over Echelon continues to highlight the tensions between the U.S. and its European allies over issues of national security and privacy. The U.S. argues that its intelligence-gathering activities are necessary to protect national security and are conducted in accordance with the law. However, many Europeans remain concerned that the U.S. is using its intelligence capabilities to gain a commercial advantage over European businesses, and they are calling for greater transparency and oversight of intelligence activities.

Wednesday, 5 July, 2000

In a first, the International Monetary Fund and World Bank...

In a first, the International Monetary Fund and World Bank establish working groups to develop recommendations on ways to improve the process for selecting top leaders, the IMF said Friday.

Thursday, 6 July, 2000

During a meeting of Finance Ministers from the Group of...

During a meeting of Finance Ministers from the Group of Seven, the G-7 industrialized nations announced their intention to implement stringent measures against international money laundering. They also stated that they might sever some bank dealings with countries that do not put a stop to illicit money flows. "We have identified the problem, named those responsible, and we are now taking action to combat it," said Laurent Fabius, the French Finance Minister, at the conclusion of the meeting.

Friday, 7 July, 2000

The European Union and South Korea signed a free trade...

The European Union and South Korea signed a free trade agreement that would eliminate tariffs on goods traded between the two regions over the next 10 years. The agreement was seen as a major step forward for EU-Asia trade relations.

Saturday, 8 July, 2000

EADS (European Aeronautic Defence and Space Company) is a multinational...

EADS (European Aeronautic Defence and Space Company) is a multinational aerospace and defense corporation formed through the merger of four major European aerospace companies Aérospatiale-Matra from France, Dornier Flugzeugwerke from Germany, DaimlerChrysler Aerospace AG (DASA) from Germany, and Construcciones Aeronáuticas SA (CASA) from Spain.The aim of the merger is to create a European company that could compete more effectively with American aerospace giants such as Boeing and Lockheed Martin. EADS becomes the second-largest aerospace company in the world, after Boeing, with operations in commercial aircraft, defense, and space.The company has a broad range of capabilities, including the development and production of commercial aircraft such as the Airbus, military aircraft, helicopters, satellites, and missiles. EADS is also involved in space exploration and the development of the Galileo satellite navigation system.

Sunday, 9 July, 2000