Economic News August 13, 2012
The
Bank of England could do much more to foster the recovery of the
economy, Adam Posen, an outgoing member of the bank's Monetary Policy
Committee said in an interview to the Financial Times. (Aug 13, 2012) Full Article
Wholesale
price inflation in Germany rose more than expected in July, the latest
figures from the Federal Statistical Office showed Monday. (Aug 13, 2012) Full Article
The
top priority of Reserve Bank of India is tackling high inflation, Subir
Gokarn, deputy governor of the central bank told CNBC. (Aug 13, 2012) Full Article
French current account deficit widened in June after falling marginally in May, data from Bank of France showed Monday. (Aug 13, 2012) Full Article
The
number of tourists visiting the United Kingdom and new bookings for
inbound tourists decreased during the Olympics, a survey conducted by
trade body UKinbound and Qa Research showed Monday. (Aug 13, 2012) Full Article
Forex Top Story
Japan's
gross domestic product added just 0.3 percent in the second quarter of
2012 compared to the previous three months, the Cabinet Office said on
Monday in a preliminary reading - suggesting that the recovery from the
March 2011 earthquake and tsunami remains stuck in neutral. (Aug 13, 2012) Full Article
New
Zealand's food prices increased for a third consecutive month in July,
but at a slower pace compared to the previous month, data from the
Statistics New Zealand showed Monday. (Aug 13, 2012) Full Article
Chinese
data released last week confirmed the soft patch the economies across
the globe are experiencing in the wake of the fragile recovery post the
credit crisis of 2008-09. Eurozone credit crisis and the U.S. fiscal
cliff have now accentuated fears of a global double-dip recession, given
the economic influence wielded by the currency bloc and the U.S.
Strangely enough, the equity markets have been resilient to the economic
crisis, thanks to stimulus and policy hopes. (Aug 13, 2012) Full Article
The
Eurozone economy probably contracted in the three months to June,
extending the weakness seen in the past quarters, as the worsening
crisis pushed bigger economies into recession. (Aug 13, 2012) Full Article
Austerity
measures implemented to cut deficits pushed Greece's economy deep into a
prolonged recession in the second quarter, jeopardizing the
government's aim of meeting fiscal targets set by international aid
donors. (Aug 13, 2012) Full Article
Germany's
short-term debt fetched negative yields at an auction on Monday as
investors effectively paid to lend money to the government in their
scramble to safe-havens. On the other hand, Italy saw its borrowing
costs rise due to concerns over the fiscal situation of the country. (Aug 13, 2012) Full Article
Commodities
The
price of gold was ticking higher Monday morning amid hopes for further
monetary stimulus measures from the European Central Bank. (Aug 13, 2012) Full Article
The
price of crude oil was moving higher Monday morning as the euro was
bouncing back from its one-week low against the US dollar on hopes of
further stimulus measures by the ECB. (Aug 13, 2012) Full Article
Political News
Syria
is most likely to be expelled from the Organization of Islamic
Cooperation (OIC) as an expression of the 57-member pan-Islamic body's
protest to the Assad regime's failure to end bloodshed in that Middle
East country. (Aug 13, 2012) Full Article
United
Nations Secretary-General Ban Ki-moon on Monday called for dialog
between Seoul and Tokyo to resolve the dispute on Dokdo islands in the
South China Sea. (Aug 13, 2012) Full Article
An
independent panel of experts commissioned by the Australian government
has recommended setting up offshore processing centers for tackling the
steadily increasing influx of asylum-seekers into the country. (Aug 13, 2012) Full Article
The
G20 group of nations are planning to hold a meeting to devise a unified
response to the rising global food prices triggered by the worst U.S.
drought in more than half a century, the Financial Times reported on
Monday citing unnamed sources. (Aug 13, 2012) Full Article
Egyptian
President Mohammed Mursi on Sunday ordered the retirement of Defense
Minister Mohamed Hussein Tantawi and Chief of Staff Gen. Sami Enan, and
canceled a constitutional declaration that curbed his powers in
Currency Alerts
The
euro climbed to 4-day highs against most major currencies in the
European session on Monday amid smooth Italian bond auction and Greek
GDP data, which contracted less than expected in the second quarter. (Aug 13, 2012) Full Article
General News
The
G20 group of nations are planning to hold a meeting to devise a unified
response to the rising global food prices triggered by the worst U.S.
drought in more than half a century, the Financial Times reported on
Monday citing unnamed sources. (Aug 13, 2012) Full Article
An
influential tribal leader and his son were shot dead in Egypt's Sinai
peninsula on Monday amid raging violence that broke out on Wednesday
last in the wake of a military crackdown on militants in the area,
reports quoting security officials said. (Aug 13, 2012) Full Article
The women's shot put champion of the London Olympics has been stripped of her gold medal after she failed a dope test. (Aug 13, 2012) Full Article
A
Japanese government mission left for the United States on Monday to
verify the safety of the Osprey transport aircraft in response to
mounting public concerns in Japan over the deployment of the
controversial military aircraft. (Aug 13, 2012) Full Article
An
independent inquiry into the killing of 77 people in a deadly car
bombing and shooting rampage in Norway last year has found that the
tragedy could have been averted had the police acted faster. (Aug 13, 2012) Full Article
No comments:
Post a Comment