Economic News August 24, 2012
The
Chinese government is closely monitoring the developments in the real
estate market and is studying new measures to "strengthen" the property
market controls, Xinhua reported Thursday citing unnamed official with
the Ministry of Housing and Urban-Rural Development. (Aug 24, 2012) Full Article
Spain's producer price inflation rose to 2.6 percent annually from 2.5 percent in June, the statistical office INE said Friday. (Aug 24, 2012) Full Article
Consumer
confidence in Brazil deteriorated for the fourth successive month in
August, data released by the Getulio Vargas Foundation showed Friday. (Aug 24, 2012) Full Article
Bank of England policymaker Martin Weale said he would prefer interest rate reduction to more quantitative easing. (Aug 24, 2012) Full Article
The
transportation sector continued to power a strong increase in U.S.
durable goods orders in July, marking the third consecutive month of
growth in a critical sector of the economy. According to figures
released Friday by the Commerce Department, new orders for durable goods
in July came in at $230.7 billion, a 4.2 percent increase from June
levels. The increase was much higher than most economists had expected,
with most forecasting growth of 1.9 percent, much closer to the 1.6
percent (Aug 24, 2012) Full Article
Forex Top Story
New
Zealand saw a seasonally adjusted merchandise trade surplus of NZ$15
million in June, Statistics New Zealand said on Friday - representing
0.4 percent of exports. (Aug 24, 2012) Full Article
Reserve
Bank of Australia Governor Glenn Stevens said the ongoing mining boom
will likely see its peak within the next year or two and the central
bank is prepared to respond to significant deviations from this central
forecast. (Aug 24, 2012) Full Article
Germany
and France retained pressure on Greece to strictly implement the
reforms demanded by its international creditors ahead of this week's
crucial meeting between its leaders. Greek Prime Minister Antonis
Samaras is set to meet German Chancellor Angela Merkel on Friday and
French President Francois Hollande on Saturday. The Greek premier will
urge the leaders to consider extending the fiscal consolidation program. (Aug 24, 2012) Full Article
Singapore'
manufacturing production increased at a significantly slower pace in
July, and the rate of growth was far below economists' forecast, as the
export-dependent economy remained under pressure from falling demand for
its products, especially in the biomedical and electronics industries,
latest data showed Friday. (Aug 24, 2012) Full Article
Bank
of Japan Governor Masaaki Shirakawa on Friday reiterated his warning
against prolonged gains in the yen, saying chronic upward pressure on
the yen is placing downward pressure on Japan's economy. (Aug 24, 2012) Full Article
The
U.K. economy contracted less than initially estimated in the second
quarter on smaller declines in construction and production sectors. (Aug 24, 2012) Full Article
Commodities
Gold
was paring gains Friday morning after advancing to a fresh four-month
high in the previous session as stimulus is expected to raise the
inflation outlook, benefiting the yellow metal, which is seen as a hedge
against rising prices. (Aug 24, 2012) Full Article
The
price of crude oil was ticking lower Friday morning as traders await
further cues over the likelihood of more economic stimulus for the U.S.
economy. (Aug 24, 2012) Full Article
Political News
The
United States has made it clear that its missile defense cooperation
plans in the Pacific Rim are not directed at China and that its
defensive systems will not respond unless missiles have been fired. (Aug 24, 2012) Full Article
A
group of U.N. human rights experts have called on the Bahraini
authorities to comply with the rights to peaceful assembly and
expression and immediately release those arbitrarily detained for
exercising their legitimate freedoms." (Aug 24, 2012) Full Article
The
United States and Macedonia have signed an Open Skies air services
agreement that will formalize liberalization of their bilateral aviation
relationship. (Aug 24, 2012) Full Article
The
Commander of the NATO-led International Security Assistance Force
(ISAF) says he does not believe pulling troops away from their Afghan
partners is the best way to go about preventing insider attacks. (Aug 24, 2012) Full Article
In
escalating diplomatic row between Seoul and Tokyo, South Korea on
Friday protested Japanese Foreign Minister Koichiro Gemba's claim that
South Korea is illegally occupying a set of disputed islets in the Sea
of Japan. (Aug 24, 2012) Full Article
Currency Alerts
The initial direction for the U.S. dollar is rather bullish in early Asian deals Friday (Aug 24, 2012) Full Article
The Australian dollar remained a clear underperformer among major currencies in Asian deals Friday (Aug 24, 2012) Full Article
The euro lost ground against most major currencies in the European session on Friday as stocks fell on global growth worries. (Aug 24, 2012) Full Article
General News
The
U.S. State Department has welcomed the approval by the Securities and
Exchange Commission of final rules implementing Sections 1502 and 1504
of the Dodd-Frank Wall Street Reform and Consumer Protection Act. (Aug 24, 2012) Full Article
A
new bridge built less than an year ago in China's north-eastern
Heilongjiang province collapsed early on Friday killing three people and
injuring another five. (Aug 24, 2012) Full Article
A
Norwegian court has sentenced to 21 years in jail a right-wing
extremist, who admitted killing of 77 people in a car bombing and
shooting rampage in Norway last year. (Aug 24, 2012) Full Article
Six
environmental activists led by the head of Greenpeace International
Kumi Naidoo stormed a Russian oil platform in the northern Pechora Sea
on Friday to protest against oil drilling in the Arctic. (Aug 24, 2012) Full Article
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