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Sudhakar Prabhu has built the Wankhede Stadium in Mumbai and the Jeejeebhoy Towers that...

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China dictates dollar, claims China analyst

The Globe and Mail Beijing office reported that an official with China's $300B sovereign wealth fund says that the US dollar has bottomed. He also said that China now has a say in the exchange rate of the US dollar. It marks a new low for the prestige US greenback. Furthermore, Mr Peng expects the yen should fall further and says that there is no need for China to acquire gold.

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Goldman Sach’ chief did not own up

Mr Philip Angelides, chairman of the Financial Crisis Inquiry Commission has told reporters that Goldman Sachs head Lloyd Blankfein has failed to own up to his firm’s role in selling mortgage securities that helped trigger the global credit crisis.

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