ICT magazine

A nature reserve north of Belgrade is home to a herd of some 100 Balkan donkeys, while their milk is used to make "the world's most expensive cheese". This is according to reports from the Zasavica reserve, near the town of Sremska Mitrovica.

Joseph Stiglitz - former head economist at the World Bank and a nobel-prize winner - said yesterday that the very structure of the Federal Reserve system is so fraught with conflicts that it is "corrupt" and undermines democracy.Stiglitz said:If we [i....

As Bloomberg notes:Federal Reserve Bank of Dallas President Richard Fisher called for an international pact to break up banks whose collapse would threaten the financial system, a position that goes beyond other Fed officials.While the international as...

Glencore International AG, the biggest commodity trader, sold as much as US$2.2 billion ($3.1 billion) of convertible bonds to investors including BlackRock Inc. in what may be the first step toward an initial public offering. The bonds, which are due December 2014, are convertible into Glencore shares upon an ...

The House has passed a bill to audit the Federal Reserve. 79% of the American people support a full audit.In response, the Fed says that an audit would interfere with its "independence". However, the Constitution does not empower a central bank. And C...

Chris Whalen has a must-read essay at Zero Hedge:In the case of WFC [Wells Fargo], the bank has taken the position that NONE of its conforming residential exposures should be brought on balance sheet despite the FASB rule change. As we discussed in Th...

Emailed to me by a contact in Congress. November 18, 2009 ...

Singapore will sell eight sites and offer a further 34 properties on a reserve list in the first half of 2010, the government said. The 42 sites include 24 residential properties and two mixed-use sites where private homes can be built, the Ministry of National Development said in a ...

How well has the Federal Reserve performed for America? Mainstream pundits, of course, say that Bernanke has saved the world . . . . but they said the same thing about Greenspan. So let's look at the actual historical record to determine how well the...

The UN Conference on Trade and Development (UNCTAD) released a report today calling for the creation of a new global reserve currency.The UN also called the dollar-based system a "confidence game" of financial speculation.The UN is calling for a new gl...

You know Zero Hedge, the popular website which has broken major stories like Goldman's dominance of high-frequency trading.Some say that Zero Hedge occasionally breaks stories before adequately fact-checking them. I don't know whether that is true or...

If you have any doubt that the Fed and other central banks should have known that a crash was coming, all you have to do is look at this June 2007 article from the Telegraph:The Bank for International Settlements, the world's most prestigious financial...

The New York Federal has just published a new report entitled "The Shadow Banking System: Implications for Financial Regulation". One of the main conclusions of the report is that leverage undermines financial instability: Securitization was intended ...

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke was among the many Americans whose finances took a sharp hit in 2008, according to disclosure forms released by the central bank on Tuesday. ...

The Reserve Bank of India (RBI) has kept interest rates at record lows in a continuing effort to return the economy to growth.The repo rate - at which the central bank injects short-term money into the banking system - was ...

The Reserve Bank of India (RBI) on Tuesday kept the key rates unchanged and said that there are progressive signs of recovery with positive industrial production and optimistic business confidence. The RBI left its lending rate steady at 4.75 per cent, its lowest in nine years, and its reverse repo rate, ...

Americans are taught that Franklin Delano Roosevelt instituted massive economic reforms and regulations which tamed the banking hooligans.True, FDR helped pass a boatload of legislation, including Glass-Steagal and many other laws which helped reign i...

By Michael KohnBBC News, Ulan BatorUnited Nations Secretary General Ban Ki-moon has been in the wilds of Mongolia, travelling over rough roads to meet ...

Groundbreaking cub born at Wolong national nature reserve in Sichuan province, China

Russia reserve fund is emptying fastRussia’s reserve fund, built up over several years thanks to high oil prices, will shrink to US$52bn in the third quarter of this year from a peak of US$137bn in March, and is expected to be empty by the end of 2010 as transfers are ...