Economic News September 5, 2012
The Bank of Thailand decided to leave key rate unchanged as expected by economists, but through a split vote. (Sep 5, 2012) Full Article
Eurozone's
private sector contracted more than initially estimated in August,
adding to concerns that the economy is on course to fall back into
technical recession in the third quarter, data from a survey by Matkit
Economics showed Wednesday. (Sep 5, 2012) Full Article
The
number of persons singing-up for job-seekers' allowance in Ireland
decreased in August, after rising for three successive months, data from
the Central Statistics Office showed Wednesday. (Sep 5, 2012) Full Article
The
medium-term risk to financial stability has been building up largely
due to strong momentum in the mortgage and real estate markets, Swiss
National Bank Vice Chairman Jean-Pierre Danthine said Wednesday. (Sep 5, 2012) Full Article
Labor
productivity in the U.S. increased by much more than previously
estimated in the second quarter, according to a report released by the
Labor Department on Wednesday, with the report also showing a smaller
than previously estimated increase in labor costs. (Sep 5, 2012) Full Article
Forex Top Story
Retail
sales in the UK declined in August as the Olympics failed to spur
spending, particula
The
gross domestic product in Australia was up a seasonally adjusted 0.6
percent on quarter in the second quarter of 2012, the Australian Bureau
of Statistics said on Wednesday. (Sep 5, 2012) Full Article
Shop
price inflation in the UK rose marginally in August, while food price
inflation remained at its lowest level in nearly two years, a report
from the British Retail Consortium (BRC) showed Wednesday. (Sep 5, 2012) Full Article
China's
service sector activity slowed to its weakest level in a year in
August, mainly due to weak growth in new order volumes, a report from
Markit Economics revealed Wednesday. (Sep 5, 2012) Full Article
Retail
sales volume in Eurozone declined in July after showing some
improvement in the past two months as the debt crisis in the region
continued to weigh on consumers' ability to spend. (Sep 5, 2012) Full Article
Bank
of England policymakers are set to hold fire on quantitative easing and
interest rate as officials continue to assess the impact of bond
purchases and the lending facility on economic activity. Given the weak
economic condition, the case for more stimulus is seen in the pipeline. (Sep 5, 2012) Full Article
The
European Central Bank on Thursday is widely expected to announce
measures to battle the sovereign debt crisis that has plagued the euro
area, which could include buying bonds of peripheral governments as
indicated by the bank's President Mario Draghi last month. The central
bank of 17 nations may also cut the refinancing rate, which is currently
at 0.75 percent, while the deposit rate that is already at zero is
likely to be left unchanged. (Sep 5, 2012) Full Article
Commodities
The
price of gold was easing from its six-month high Wednesday morning as
traders await a key meeting of the European Central Bank this week. (Sep 5, 2012) Full Article
The
price of crude oil was moving lower Wednesday morning as traders were
cautious ahead of the European Central Bank's policy meeting Thursday. (Sep 5, 2012) Full Article
Political News
U.N.-Arab
League new special representative on Syrian crisis Lakhdar Brahimi on
Tuesday warned of steadily deteriorating situation in Syria, noting that
the destruction and humanitarian suffering caused by the ongoing
conflict has reached "staggering" levels. (Sep 5, 2012) Full Article
U.S.
Secretary of State Hillary Clinton held talks with Chinese President Hu
Jintao in Beijing on Wednesday, with the two leaders pledging to
improve bilateral relations despite some obvious differences on several
issues. (Sep 5, 2012) Full Article
Colombia's
President Juan Manuel Santos announced on Tuesday that the currently
stalled peace talks between his government and the Leftist FARC rebels
would resume after a gap of ten years in Norway next month. (Sep 5, 2012) Full Article
One
person has been killed and another injured after a gunman opened fire
at an election victory rally organized by a separatist party in the
Canadian province of Quebec, media reports citing officials said late on
Tuesday. (Sep 5, 2012) Full Article
An
article in the Washington Post describing Indian Prime Minister
Manmohan Singh as "a dithering, ineffectual bureaucrat presiding over a
deeply corrupt government" evoked protest by the ruling Congress party,
which sought an apology from the U.S. daily. (Sep 5, 2012) Full Article
Currency Alerts
The
New Zealand dollar edged higher against its major opponents on
Wednesday morning in Asia despite a fall in Asia-pacific equities. (Sep 5, 2012) Full Article
The
Australian dollar lost ground on Wednesday morning in Asia following a
report showed that the nation's economy grew at a slower than expected
rate in the three months to June. (Sep 5, 2012) Full Article
The
Japanese yen climbed against other major currencies in late Asian deals
on Wednesday as investors purchased safe-haven assets amid worries
about the global economy. (Sep 5, 2012) Full Article
The euro was the clear underperformer among major currencies on Wednesday (Sep 5, 2012) Full Article
General News
At
least 25 civilians have been killed when a suicide-bomber attacked a
funeral procession in Afghanistan's eastern Nangarhar province on
Tuesday, media reports said citing local officials. (Sep 5, 2012) Full Article
At
least 42 people have been killed and more than 24 injured after a
passenger bus plunged into a ravine in the Atlas Mountains of southern
Morocco, media reports citing local officials said late on Tuesday. (Sep 5, 2012) Full Article
Following
on the recent U.S. government meetings on economic assistance to Cairo,
on September 8 Deputy Secretary of State Thomas Nides will join the
U.S. Chamber of Commerce and more than 100 U.S. company executives as
part of a delegation to promote private-sector development in Egypt. (Sep 5, 2012) Full Article
At
least 31 people were killed and dozens suffered burn injuries in a
massive fire that broke out in a fireworks factory in the southern
Indian state of Tamil Nadu on Wednesday. (Sep 5, 2012) Full Article
Mexican
Navy has captured Mario Cardenas Guillen, suspected leader of a faction
of the dreaded Gulf Cartel, in a raid carried out in the country's
north, it was announced late on Tuesday. (Sep 5, 2012) Full Article
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