Economic News August 17, 2012
Finland
is preparing measures to face any kind of eventuality in the face of a
breakup of the euro currency-bloc, the country's Foreign Minister Erkki
Tuomioja told the British newspaper The Daily Telegraph. (Aug 17, 2012) Full Article
The
Taiwanese economy contracted at a slightly faster rate than initially
estimated, marking the first decline in more than two years, final
figures from the Directorate General of Budget, Accounting &
Statistics (DGBAS) showed Friday. (Aug 17, 2012) Full Article
Eurozone current account surplus increased in June, data published by the European Central Bank showed Friday. (Aug 17, 2012) Full Article
The
European Commission wants the European Central Bank to act as the
supervisor for all major banks in the euro area, German business daily
Handelsblatt reported Friday. (Aug 17, 2012) Full Article
Spanish banks' bad loans reached the highest on record in June, the Bank of Spain reported Friday. (Aug 17, 2012) Full Article
Forex Top Story
Prices
received by New Zealand producers rebounded in the June quarter amid a
surge in electricity costs, data from Statistics New Zealand showed
Friday. (Aug 17, 2012) Full Article
Singapore's
export growth increased more than expected in July, driven largely by
demand from Asian countries, data released by International Enterprise
Singapore showed Friday. (Aug 17, 2012) Full Article
German
producer price inflation eased to its lowest level in more than two
years in July amid a fall in production costs for electricity and
intermediate goods, a report from the Federal Statistical Office showed
Friday. (Aug 17, 2012) Full Article
Japan's
government expects the nominal economic growth to exceed real expansion
in fiscal 2013 for the first time since 1997 and also sees an end to
deflation in the economy. (Aug 17, 2012) Full Article
Eurozone
foreign trade surplus increased more than expected in June led by
robust growth in shipments, the latest figures published by Eurostat
showed Friday. (Aug 17, 2012) Full Article
Commodities
The
price of gold was little changed Friday morning as the U.S. dollar was
trading mixed, with the euro turning strong following comments from
German Chancellor Angela Merkel that the European Central Bank's
approach to defend the euro is in line with the ideology of the
politicians in the region. (Aug 17, 2012) Full Article
The
price of crude oil was hovering near its three-month high Friday
morning, with possible tensions in Middle-East supporting prices. (Aug 17, 2012) Full Article
Political News
Ecuador
has granted political Asylum to WikiLeaks' founder Julian Assange,
nearly two months after the Australian took refuge in the South American
nation's Embassy in London while fighting extradition from Britain to
Sweden to face charges of sexual misconduct. (Aug 17, 2012) Full Article
The
U.N. Security Council (UNSC) has decided to terminate its observer
mission in Syria when its mandate expires on Sunday and to replace it
with a small liaison office for supporting ongoing efforts to find a
political solution to the Syrian crisis, it was announced on Thursday. (Aug 17, 2012) Full Article
The
verdict in the trial of Gu Kailai, wife of disgraced senior Chinese
Communist Party leader Bo Xilai, over her alleged involvement in the
murder of British businessman Neil Heywood is set to be announced on
Monday, media reports citing Chinese court officials said on Friday. (Aug 17, 2012) Full Article
Japan
has urged South Korea to join with it in taking their territorial
dispute over islands in the Sea of Japan to the International Court of
Justice (ICJ) at The Hague. (Aug 17, 2012) Full Article
The
European Union on Thursday voiced concern over the three-year prison
term given to Bahraini rights activist Nabeel Rajab for taking part in
unauthorized protests in the Middle East nation, and expressed hopes
that his case would be reconsidered on appeal. (Aug 17, 2012) Full Article
Currency Alerts
The
Australian dollar declined against other major currencies in Asian
trading on Friday after the Australian Treasury dismissed calls for the
currency intervention. (Aug 17, 2012) Full Article
General News
At
least 12 people were killed and several injured when police opened fire
to disperse rival miners who clashed at the Marikana platinum mine in
South Africa's North West province on Thursday. (Aug 17, 2012) Full Article
Peru's
military said on Thursday that five of its soldiers were killed after
their patrol was ambushed by Shining Path rebels in the country's
central region. (Aug 17, 2012) Full Article
An
economic conference between South Sudan and major international donors
and financial institutions agreed to work together to help the
north-east African country address short term financial issues as it
prepares to resume oil production. (Aug 17, 2012) Full Article
Norway's
national police commissioner Oystein Maeland resigned from his post on
Thursday after an independent commission suggested in a report released
three days ago that last year's deadly twin attacks by right-wing
extremist Anders Behring Breivik could have been averted had the police
acted faster. (Aug 17, 2012) Full Article
The
Commander of the NATO-led International Security Assistance Force
(ISAF) in Afghanistan has strongly condemned Taliban leader Mullah
Omar's Eid ul-Fitr Message, calling it "an unmistakable message of
death, hate and hopelessness for the Afghan people." (Aug 17, 2012) Full Article
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