Profitloss Centerstage Events

In a first, religious and spiritual leaders from different faith traditions gather to explore ways to establish a partnership of peace between them in the United Nations takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 4

Indonesia’s newly appointed senior economics minister of the government has...

Indonesia’s newly appointed senior economics minister of the government has requested the International Monetary Fund (IMF) to postpone the next financial aid disbursement in order to conduct a review of the $5 billion program. In a statement released on Tuesday, Rizal Ramli, the Coordinating Minister for the Economy, indicated that Jakarta may wish to modify some aspects of the recent agreement with the IMF. He expressed his desire for the IMF to prioritize macroeconomic programs over sectoral issues like agriculture and infrastructure development.

Monday, 28 August, 2000

The International Monetary Fund approves Ecuador's first loan installment of...

The International Monetary Fund approves Ecuador's first loan installment of $37 million under its $300 million standby credit facility but warns that the "fragility" of the country's economic position demands "additional action." IMF First Deputy Managing Director Stanley Fischer says in a prepared statement that the government must do more to rein in the fiscal deficit by raising nonoil-based taxes, while cutting subsidies, particularly for domestic fuels.

Tuesday, 29 August, 2000

Intel Corp. files a federal lawsuit against Broadcom Corp. for...

Intel Corp. files a federal lawsuit against Broadcom Corp. for patent infringement, escalating an increasingly rancorous battle between the chip makers over intellectual property. In the suit filed in U.S. District Court in Wilmington, Del., Intel is accusing Broadcom, a high-flying maker of chips for devices that enable high-speed Internet access, of violating Intel patents as part of a "carefully crafted plan to build Broadcom's business using Intel technology."

Wednesday, 30 August, 2000

James Wolfensohn, the President of the World Bank, has praised...

James Wolfensohn, the President of the World Bank, has praised the proposed reform program of Russian President Vladimir Putin. He commented that the emphasis on building up financial and legal institutions and combating corruption would promote the transition to a market-based economy.

Thursday, 31 August, 2000

President Chen Shui-bian is urging China to start a dialogue...

President Chen Shui-bian is urging China to start a dialogue with the island and leave the issue of reunification for future generations to resolve. According to Mr. Chen, "In 30 or 50 years, the situation across the Taiwan Strait may be entirely different, and reunification may no longer be an issue." He expressed this during his speech at the newly established transparty committee on unification on Saturday, saying "We should have the next generation in our minds when tackling the issue."

Friday, 1 September, 2000

Aventis CropScience is formed as a result of the merger...

Aventis CropScience is formed as a result of the merger between AgrEvo and Rhône-Poulenc Agro.

Saturday, 2 September, 2000

In a first, the government of Haiti has increased fuel...

In a first, the government of Haiti has increased fuel prices to match the world market average, resulting in a 44% rise in costs. At midnight on Friday, the new prices took effect, with premium gas costing $2.67 per gallon, regular gas costing $2.19 per gallon, and diesel costing $1.45 per gallon. Kerosene, which is frequently used to light homes during lengthy power outages, saw a price increase to $1.23 per gallon. Previously, the government had bought petroleum products from suppliers at market prices, then sold them to local distributors at a fixed price to shield consumers from price changes. This year, the government incurred a loss of roughly $47.5 million while attempting to safeguard consumers from price fluctuations.

Sunday, 3 September, 2000