Iceland says IMF postpones action on $2.1 billion loan and release of Nordic funds

August 12th, 2009 KARACHI - Pakistan has received $1.2 billion from the International Monetary Fund (IMF) as the third tranche of an emergency loan agreed to last year, the central bank said. "We have received $1.2 billion from the IMF," State Bank of Pakistan spokesperson Syed Wasimuddin told The News.

August 7th, 2009 ISLAMABAD - Pakistan Prime Minister Yousuf Raza Gilani's financial adviser Shaukat Tarin has said that Islamabad will approach the International Monetary Fund for an additional loan of 3.1 billion dollars in a bid to avoid a balance of payment problem in the current fiscal. The IMF board of directors is scheduled to consider Islamabad's request for an additional loan on Friday.

August 4th, 2009 Iceland court lifts gag order after public outrageREYKJAVIK, Iceland — A court in Iceland lifted a gag order Tuesday that allowed Kaupthing Bank to prevent media coverage of a leaked file that discloses details of the bank's weak position shortly before it collapsed in October. The Reykjavik district magistrate lifted the order only hours after Kaupthing itself yielded to public pressure to stop pushing for the ban.

July 23rd, 2009 Sweden's Skanska says Q2 net profit up 9 pctSTOCKHOLM — Skanska AB, the Nordic region's biggest construction company, on Wednesday said net profit rose by 9 percent in the second quarter as an improvement in margins offset weaker revenues. The Stockholm-based group said net earnings for the quarter were 1.17 billion kronor ($154 million), up from 1.07 billion kronor in the same period a year ago.

July 21st, 2009 United flight makes emergency stop in IcelandCHICAGO — Authorities say smoke coming out of the cockpit forced a Chicago-bound United Airlines flight to make an emergency landing at Keflavik International Airport in Iceland. United spokeswoman Robin Urbanski says United Flight 949 from London's Heathrow Airport landed safely in Iceland at 2:51 p.m.

July 21st, 2009 Nordea posts 11 pct drop in 2Q net, raises outlookSTOCKHOLM — The Nordic region's biggest financial group, Nordea Bank AB, on Tuesday reported an 11 percent drop in second-quarter net profit, mainly due to higher loan losses and staff costs, but raised its full-year outlook. Net profit in the quarter fell to euro616 million ($874 million), down from euro692 million in the same quarter last year.

July 14th, 2009 Goldman Sachs poised to post big 2nd-qtr profitNEW YORK — Goldman Sachs Group Inc., long considered one of the strongest banks amid the credit crisis and ongoing recession, is expected to post a hefty second-quarter profit Tuesday morning. Goldman is poised to take advantage of fewer competitors on Wall Street and its ability to successfully manage more risk.

July 1st, 2009 Nordic countries come to Iceland's rescueLONDON — Denmark, Finland, Sweden and Norway signed loan agreements with Iceland on Wednesday that will provide the struggling nation with $2.5 billion (euro1.8 billion) over the long term. Iceland's central bank, Sedlabanki, said the money will be used to strengthen the country's foreign exchange reserves.

June 22nd, 2009 Ford to get loan to develop fuel-efficient autosWASHINGTON — The Energy Department is expected to announce that Ford Motor Co. will receive funds from a $25 billion federal loan program to develop fuel-efficient vehicles.

June 19th, 2009 Lawmakers criticize UK government for Iceland spatLONDON — An influential committee of cross-party lawmakers criticized the British government on Friday for its handling of the Icelandic banking crisis, when the Treasury froze assets using anti-terrorist law, prompting a diplomatic spat between the two countries. London infuriated Reyjkavik last year when it used the anti-terrorist legislation to freeze U.K.

June 6th, 2009 UK gov't secures cash from Iceland over IcesaveLONDON — Iceland will reimburse the British and Dutch governments for compensation paid out to depositors of the failed Icesave Internet bank, the British Treasury said Saturday. In a statement, the Treasury said the British government will be repaid 2.3 billion pounds over the next 15 years with interest.

May 14th, 2009 Finland calls for Nordic membership in G-20HELSINKI — The five Nordic countries should have more say in international affairs, including a joint seat in the Group of 20, Finnish Prime Minister Matti Vanhanen said Thursday. Vanhanen said the Nordic region — Finland, Sweden, Norway, Denmark and Iceland — deserves representation in the group of major economies "because our joint economic weight is quite significant on an international scale." Sweden, Finland and Denmark are represented at G-20 summits by the European Union, while Iceland and Norway are not EU members.

April 24th, 2009 Facts and figures about IcelandA look at Iceland, which holds parliamentary elections Saturday: — CAPITAL: Reykjavik. — POPULATION: 320,000.

February 12th, 2009 NEW DELHI - Indian Railways will likely get Rs.200 billion (Rs.20,000 crore/$4 billion) from Japan for their rail freight corridor project, Railways Minister Lalu Prasad said here Friday. The Japan International Cooperation Agency (JICA) will release the funds by the end of 2009, Lalu Prasad told reporters after presenting the interim railway budget.

January 26th, 2009 REYKJAVIK - Iceland's President Olafur Ragnar Grimsson Tuesday asked centre-left Social Democratic Alliance Party to form an interim government after the collapse of the ruling coalition amid deep economic crisis and political discord. The Social Democratic Alliance were part of the grand coalition formed in 2007 with the conservative Independence Party that collapsed Monday.