Economic News August 7, 2012
Sri
Lanka's central bank on Tuesday decided to leave its key policy rates
unchanged, saying an increase in inflation was due to adverse weather
conditions and resulting disruptions to domestic food supplies. (Aug 7, 2012) Full Article
Switzerland's
consumer prices continued to decline in July, but at a slower than
expected pace, the Federal Statistical Office said Tuesday. (Aug 7, 2012) Full Article
Japan's
Finance Minister Jun Azumi said Tuesday that the government will extend
its dollar-loan program by six months through March 2013 in an attempt
to deal with the strong currency. (Aug 7, 2012) Full Article
Sweden's
central government payments showed a shortfall of SEK 2.2 billion in
July, the Swedish National Debt Office said Tuesday. The deficit was
line with the government forecast of SEK 2.3 billion. (Aug 7, 2012) Full Article
CRISIL on Tuesday downgraded India's growth outlook citing deficient rainfall and worsening Eurozone growth outlook. (Aug 7, 2012) Full Article
Forex Top Story
Retail
sales in the United Kingdom rose unexpectedly in July as warm weather
and Olympics boosted sales of food and drinks, a report from the British
Retail Consortium (BRC) revealed Tuesday. (Aug 7, 2012) Full Article
The
Reserve Bank of Australia decided to retain its benchmark cash rate
unchanged at 3.5 percent for a second consecutive rate-setting meeting
on Tuesday, saying it is too early to see the full impact of past policy
easing. (Aug 7, 2012) Full Article
Taiwan's
merchandise exports decreased for the seventh successive month in July
as the global economic slowdown and debt worries in Europe continued to
weigh on demand. (Aug 7, 2012) Full Article
Production
in the British industrial sector shrank notably in June mainly due to
extra holidays for the Queen's Diamond Jubilee celebrations, the latest
figures from the Office for National Statistics showed Tuesday. (Aug 7, 2012) Full Article
The
Italian economy remained stuck in recession in the second quarter as
austerity measures weighed heavily on economic activity. (Aug 7, 2012) Full Article
German
factory orders declined more-than-expected in June as both domestic and
foreign demand deteriorated, raising fears that the economy shrunk in
the second quarter. (Aug 7, 2012) Full Article
Political News
The
defections of the Syrian Prime Minister and other top government
officials in recent days show that the discredited regime of President
Bashar al-Assad is "crumbling from within," the U.S. said late on
Monday. (Aug
Japan
and China have agreed to launch 47 projects including the creation of a
"smart city" as part of cooperation in promoting environment-friendly
and power-saving projects in the context of China's increased energy
needs. (Aug 7, 2012) Full Article
India's
new Finance Minister Palaniappan Chidambaram has announced measures
aimed at attracting foreign investments and allaying investor fears,
including a review of the retrospective tax laws proposed in the 2012
Budget and easing the country's high interest rates. (Aug 7, 2012) Full Article
The
top U.N. political envoy to Somalia has urged all concerned parties in
the Horn of Africa nation to ensure that the country's political
transition process is completed before a U.N.-set deadline expires in
two weeks time. (Aug 7, 2012) Full Article
Russian
prosecutors on Tuesday sought three years' prison for each of the three
members of the feminist punk band Pussy Riot for singing a song
derogatory to President Vladimir Putin at Moscow's main cathedral five
months ago. (Aug 7, 2012) Full Article
Currency Alerts
The
Australian dollar that recovered its early Tuesday Asian session's
losses ahead of the Reserve Bank of Australia's meeting has extended its
rally after the central bank announced its decision to retain benchmark
cash rate unchanged at 3.5 percent. (Aug 7, 2012) Full Article
The
yen slipped against other major currencies in early European deals on
Tuesday as investors await the outcome of Bank of Japan's policy meeting
that starts tomorrow. (Aug 7, 2012) Full Article
The
pound gained ground on Tuesday following a report showed that the rate
of the U.K. industrial production decline was weaker than forecast by
economists. (Aug 7, 2012) Full Article
General News
Tuesday,
the 11th day of the ongoing London 2012, promises to be another day of
excitement as the 21 gold medals up for grabs through the day are
expected to have a significant impact on the final medal table. (Aug 7, 2012) Full Article
The Human Rights Watch (HRW) has called on Texan authorities not to execute a man who has significant intellectual disabilities. (Aug 7, 2012) Full Article
At
least 15 people have been killed and several others injured after
unidentified gunmen opened fire on worshipers inside an evangelical
church in central Nigeria, media reports citing local officials said
late on Monday. (Aug 7, 2012) Full Article
NATO
Secretary-General Anders Fogh Rasmussen has appointed Dutch Diplomat
Maurits R. Jochems as the next NATO Senior Civilian Representative (SCR)
in Afghanistan. (Aug 7, 2012) Full Article
The
European Commission on Tuesday confirmed that it would provide an
additional funding package to help the Yemeni people and the
transitional government respond to the country's multiple governance
challenges and address some of the grievances which led to protests that
swept the Arab world in 2011. (Aug 7, 2012) Full Article
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