Profitloss Centerstage Events

Russia has initiated a new campaign for disarmament by proposing a reduction in the Russian and American nuclear arsenals by half takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 2

Russia and Belarus sign an agreement to use the Russian...

Russia and Belarus sign an agreement to use the Russian rouble as the currency of their planned Union State within five years. This decision indicates a move towards the integration of their economies. The Prime Ministers of Russia and Belarus initially signed the agreement during a meeting in Moscow, and the Presidents of the two countries are set to sign it on November 30. The agreement states that the Russian rouble will become the only cash currency in Belarus from January 1, 2005. It also outlines that the two countries will have another unified currency from 2008, with the name yet to be determined. The agreement was made possible after Belarus agreed to drop its demand to have the right to print money and that the Russian Central Bank would be a single emission center until 2008. The joint council will make decisions on monetary policies.

Monday, 13 November, 2000

Teikoku Databank Ltd reports that corporate bankruptcies in Japan surged...

Teikoku Databank Ltd reports that corporate bankruptcies in Japan surged by 22.7% in October compared to the previous year, with the debts left by the insolvent companies increasing by 1,253.4% to a new post-war high, driven by the collapse of two mid-sized life-insurance companies. The data also showed that the number of cases rose by 13.9% from September to 1,711, with total liabilities increasing by 1,005.8% to ¥8.561tn ($80bn), surpassing the previous post-war record of ¥4.264tn set in July.

Tuesday, 14 November, 2000

Bill Clinton becomes the first sitting US President to visit...

Bill Clinton becomes the first sitting US President to visit Vietnam.

Wednesday, 15 November, 2000

Alberto Fujimori is removed from office as president of Peru....

Alberto Fujimori is removed from office as president of Peru. He is accused of bribery and abuse of power, and a video surfaced in which his advisor was seen bribing an opposition member of Congress.

Thursday, 16 November, 2000

A fresh crisis has hit the Indonesia's uncertain economic recovery...

A fresh crisis has hit the Indonesia's uncertain economic recovery with the departure of five executives from the central bank. These officials resigned after a disagreement over who should bear the responsibility for the failed bailout of the country's insolvent financial sector, which resulted in losses amounting to billions of dollars. The officials from Bank Indonesia announced their resignations on Friday night, following the close of financial markets, stating that they had no support from the government, parliament or the public.

Friday, 17 November, 2000

Nestle SA's French branch has recalled a specific batch of...

Nestle SA's French branch has recalled a specific batch of ice cream due to potential contamination with the harmful bacteria listeria. The company has requested customers who purchased Vanilla Heart and Meringue ice cream from specific grocery stores in northern and southern France to return the product for a refund.

Saturday, 18 November, 2000

The European Union makes a request to the World Trade...

The European Union makes a request to the World Trade Organization (WTO) seeking approval for imposing a trade sanction of $4.04 billion on a broad range of U.S. goods, citing an allegedly unfair tax break for U.S. exporters. This request represents the largest-ever claim for trade sanctions in a case before the WTO and may test the organization's ability to manage disputes without provoking a trade war. However, the EU agreed to delay the imposition of sanctions until it receives a final go-ahead from a panel of WTO experts, which is expected to happen in the middle of next year.

Sunday, 19 November, 2000