Economic News July 20, 2012
Germany's
economic growth slowed 'somewhat' in the second quarter amid weak
industrial production, the Finance Ministry said in its monthly report
on Friday. (Jul 20, 2012) Full Article
Forex Top Story
The
U.K. government should not accelerate its fiscal consolidation if
growth fails to gather momentum despite further monetary and credit
easing, the International Monetary Fund said in a review report on
Thursday. (Jul 20, 2012) Full Article
Eurozone
finance ministers are expected to sign an agreement on the proposed
financial assistance to Spain to recapitalize its troubled banks, at a
meeting on Friday. (Jul 20, 2012) Full Article
Import
prices in Australia rose more than expected in the June quarter with
the weak dollar pushing up prices of fuel and pharmaceutics. (Jul 20, 2012) Full Article
Germany's
producer price inflation eased more-than-expected in June to its lowest
level in two years, the Federal Statistical Office said Friday. (Jul 20, 2012) Full Article
The
U.K. public deficit widened in June raising concern about the ability
of the government to bring down its shortfall to the target as the
economy is struggling to avoid sinking deeper into a double-dip
recession. (Jul 20, 2012) Full Article
Eurozone
finance ministers unanimously agreed the bailout deal for Spanish banks
on Friday during a conference call, the Eurogroup said in a statement.
The bailout will provide funding up to EUR 100 billion, as agreed last
month. In the beginning, EUR 30 billion will be set aside to be used in
case of 'urgent unexpected financing needs'. (Jul 20, 2012) Full Article
Political News
Syrian
rebels have seized all border crossings to Turkey as well as the
control of a post on the Turkish border after security forces posted in
the area were pulled back to Damascus to counter a recent spurt in rebel
attacks in the capital, according to media reports. (Jul 20, 2012) Full Article
A
court in Chinese capital Beijing has rejected an appeal filed by
dissident artist Ai Weiwei against a $2 million fine imposed on his
company for alleged tax evasion, the artist's lawyer said on Friday. (Jul 20, 2012) Full Article
China
and the United States will hold the 17th session of their Human Rights
Dialogue in Washington on July 23 and 24, the U.S. State Department
announced late on Thursday. (Jul 20, 2012) Full Article
Finland's
parliament approved a Eurozone-sponsored rescue deal for Spanish banks
and the collateral deal struck by the country with Spain, during a
confidence vote on Friday. (Jul 20, 2012) Full Article
Hundreds
of thousands of people took to the streets across Spain on Thursday to
protest against the latest austerity measures being implemented in the
country as part of the government's efforts aimed at achieving deficit
targets amid a severe recession. (Jul 20, 2012) Full Article
Currency Alerts
The
euro has been extending its slide against most major currencies in
European deals on Friday after reports said that the Spanish 10-year
benchmark yields climbed back above the critical threshold of 7 percent,
despite both German and Finnish parliaments approval of the aid funds
directed to the Spanish banking system. (Jul 20, 2012) Full Article
General News
Major
Japanese railcar maker Nippon Sharyo opened its first overseas
manufacturing facility in the U.S. state of Illinois on Thursday. (Jul 20, 2012) Full Article
Taiwan's
export orders decreased less than economists expected in June, data
from the Department of Statistics of the Ministry of Economic Affairs
showed Friday. (Jul 20, 2012) Full Article
At
least 80 people are still missing after a Tanzanian ferry with more
than 280 people on board sank in the Indian Ocean off the coast of
Zanzibar's main island on Wednesday. (Jul 20, 2012) Full Article
Japan
will be able to use in three years the huge rare earth metal reserves
found in its deep territorial waters if extraction work is expedited up,
says a top Japanese scientist. (Jul 20, 2012) Full Article
Top
U.S. officials who have just returned from visits to Turkey and Jordan
said that 140,000 people have fled to neighboring countries to escape
the deteriorating conflict in Syria, and that everyday more Syrians were
crossing borders seeking safety. (Jul 20, 2012) Full Article
At
least 12 people were reported killed when a masked gunman opened fire
into a packed theater during the premiere of a new Batman film at a
suburban cinema in Denver, capital of the U.S. state of Colorado, on
Thursday night. (Jul 20, 2012) Full Article
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