The Organization of Petroleum Exporting Countries decided at an emergency meeting in Vienna on 24th of October to slash its official oil output quota by 1.5 million barrels a day from November 1.
Let us learn a couple of words of English
Salvaged- means to save, e.g. Abhinav Bindra salvaged some pride for India in Beijing Olympics.
Foreclosure -A situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract.
Goldman Sach has decided to cut 10% Global workforce.
London has been declared 'Fair Trade City'
Asia- Europe Meeting took place in Beijing. leaders of 43 Nations participated in it. Leaders of various countries agreed that IMF should play a vital role in assisting countries seriously affected by the Crisis.