Economic News August 22, 2012
Standard & Poor's on Wednesday said China's government has significant capacity to support economic growth, if needed. (Aug 22, 2012) Full Article
Bank
of England policymaker Adam Posen on Wednesday indicated that the Bank
of England should do more to stimulate growth in the economy, which saw
deeper contraction in national output in the second quarter of 2012. (Aug 22, 2012) Full Article
South
Africa's annual inflation weakened faster than expected and hit a
fourteen-month low in in July, adding to speculation that the central
bank may reduce interest rates further to support economic growth. (Aug 22, 2012) Full Article
Germany
saw weaker demand for its two-year debt at an auction on Wednesday than
what was witnessed in a sale last month, as investors remained hopeful
that Eurozone leaders would find a solution to the debt crisis. The
country sold EUR 4.08 billion of zero coupon Treasury notes due 2014
against a target of EUR 5 billion, the Bundesbank said. The bids totaled
EUR 6.238 billion. The sale of a similar maturity security on July 18
drew EUR 8.354 billion bids. (Aug 22, 2012) Full Article
Egypt's
President Mohammed Morsi formally requested a $4.8 billion loan from
the International Monetary Fund, when he met the IMF chief Christine
Lagarde, presidential spokesman Yasser Ali reportedly said Wednesday. (Aug 22, 2012) Full Article
Forex Top Story
Japan
posted a merchandise trade deficit of 517.382 billion yen in July, the
Ministry of Finance said on Wednesday - sinking into the red for the
eighth time in 10 months. (Aug 22, 2012) Full Article
Greece
needs more time to implement the reforms and spending cuts
requisitioned by the country's international creditors, Prime Minister
Antonis Samaras told German daily Bild, ahead of his crucial meeting
with Eurozone leaders. (Aug 22, 2012) Full Article
A
leading indicator of Australia's economic activity rose at the fastest
pace in almost a year in June, suggesting a moderate but improved
economic growth in the second half of 2012 and into 2013, a survey by
Westpac Institutional Bank and Melbourne Institute showed Wednesday. (Aug 22, 2012) Full Article
Iceland's central bank decided to keep key policy rates on hold as previous rate hikes helped to bring inflation down. (Aug 22, 2012) Full Article
Commodities
The
price of gold was firm near its three-month high Wednesday morning amid
hopes that the European Central Bank will take steps to reduce
borrowing costs for Spain and Italy. (Aug 22, 2012) Full Article
The
price of crude oil was ticking lower Wednesday morning as traders await
cues from the official inventories data from the EIA, due out later
today. (Aug 22, 2012) Full Article
Political News
The
visiting Pentagon chief has said that the United States is frustrated
by delays in the foreign military sales program to equip the Iraqi
security forces. (Aug 22, 2012) Full Article
After
nearly two decades of accession process, Russia on Wednesday became the
156th member of the World Trade Organization (WTO). (Aug 22, 2012) Full Article
Anti-nuclear
protesters on Wednesday urged Prime Minister Yoshihiko Noda to scrap
all of Japan's nuclear plants and free the country from depending on
nuclear power. (Aug 22, 2012) Full Article
The
European Union has repeatedly urged the Israeli government to
immediately end all settlement activities in the West Bank, including
East Jerusalem. (Aug 22, 2012) Full Article
The
European Union has welcomed Russia's accession to the World Trade
Organization (WTO), and described it as "a major step for Russia's
further integration into the world economy." (Aug 22, 2012) Full Article
Currency Alerts
The
Australian and New Zealand dollars edged lower against their major
rivals on Wednesday in Asia as traders sold off high-yielding currencies
ahead of some key risk-events. (Aug 22, 2012) Full Article
The
dollar was mildly weaker against most major currencies in early deals
Wednesday ahead of the minutes of the Federal Reserve's July 31st-August
1st meeting, which is due for release later in the New York session. (Aug 22, 2012) Full Article
The Canadian dollar slipped against other major currencies in European trading on Wednesday following a decline in oil prices. (Aug 22, 2012) Full Article
General News
Amnesty
International has called on the Pakistan government to urgently reform
its blasphemy laws and ensure the safety of Ramsha Masih, a disabled
Christian girl arrested by police for allegedly committing an act of
blasphemy. (Aug 22, 2012) Full Article
The
United Nations Working Group on discrimination against women in law and
in practice called on the new Tunisian government to take all necessary
steps to safeguard the country's achievements on equality,
non-discrimination and women's human rights in accordance with its
international human rights obligations. (Aug 22, 2012) Full Article
A
comprehensive range of labor standards for the world's 1.2 million
merchant sailors, covering decent working conditions and health and
safety issues, is now set to go into effect following its final two
required ratifications, the International Labor Organization (ILO)
announced on Tuesday. (Aug 22, 2012) Full Article
A
40-member panel of Japanese nuclear scientists was constituted on
Tuesday to investigate last year's accident at the Fukushima-Daiichi
nuclear power plant that forced the evacuation of thousands of residents
in a 20-kilometer radius of the plant operated by the Tokyo Electric
Power Company (TEPCO). (Aug 22, 2012) Full Article
Japanese
business people expect that Russia's WTO entry will give them an
opportunity to boost their car exports and investment in that country. (Aug 22, 2012) Full Article
Stocks To Watch
This
multilevel marketing company hops on our radar, after boosting annual
financial guidance on better-than-expected quarterly results. (Aug 22, 2012) Full Article
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