Economic News November 27, 2012
Mark
Carney, currently the head of Canada's central bank, has been appointed
as the new Governor of the Bank of England on Monday. He will succeed
Mervyn King, who steps down next June. (Nov 27, 2012) Full Article
Germany's
import price inflation slowed to 1.5 percent annually in October, the
Federal Statistical Office said Tuesday. Economists had forecast the
annual rate to remain unchanged at 1.8 percent. (Nov 27, 2012) Full Article
Sentiment among French consumers remained unchanged in November, the latest report from statistical office Insee showed Tuesday. (Nov 27, 2012) Full Article
Hong Kong exports fell unexpectedly in October, data released by the Census and Statistics Department showed Tuesday. (Nov 27, 2012) Full Article
An
indicator of British service sector output declined in September
compared to the previous month, data from the Office for National
Statistics showed Tuesday. (Nov 27, 2012) Full Article
New
orders for U.S. manufactured durable goods came in essentially
unchanged in the month of October, according to a report released by the
Commerce Department on Tuesday, with a drop in orders for
transportation equipment offsetting strength in other sectors. (Nov 27, 2012) Full Article
Forex Top Story
New
Zealand posted a seasonally adjusted merchandise trade deficit of
NZ$718 million in October, Statistics New Zealand said on Tuesday -
representing 21 percent of exports. (Nov 27, 2012) Full Article
The Eurozone and the International Monetary Fund reached agreement on a new bailout program for financially strapped Greece. (Nov 27, 2012) Full Article
International
Monetary Fund Chief Christine Lagarde said the Fund would release its
share of Greek loan payments after Eurozone delivers on its commitments
made at the latest Eurogroup meeting on Monday. (Nov 27, 2012) Full Article
China's
industrial profits recorded strong gains in October, adding to evidence
that the economy is beginning to recover after seven quarters of
slowing growth. The net profits of Chinese industrial firms grew 20.5
percent year-on-year to CNY 500.1 billion in October, the National
Bureau of Statistics said Tuesday. (Nov 27, 2012) Full Article
The
U.K. economy exited double-dip recession as previously expected in the
third quarter, as the nation gained widespread support from spending and
investment. The Olympic games was a major factor behind the recovery
that was hard hit by the government's fiscal consolidation and weak
global demand. (Nov 27, 2012) Full Article
The
Organization for Economic Co-operation and Development, or OECD,
trimmed its global growth forecast as the recovery is expected to be
uneven over the coming two years largely due to the serious threat posed
by the euro area crisis. (Nov 27, 2012) Full Article
Commodities
The
price of gold was ticking lower Tuesday morning as traders now shifted
their focus to US fiscal cliff, with the US dollar trading steady versus
a basket of currencies. (Nov 27, 2012) Full Article
The
price of crude oil was moving higher Tuesday morning after euro zone
ministers and the International Monetary Fund reached an agreement to
help reduce Greece's debt. (Nov 27, 2012) Full Article
Political News
Egyptian
President Mohammed Mursi has held talks with the country's senior
judges in an apparent effort to defuse the crisis triggered by his
controversial constitutional decree that gave him sweeping powers, it
was announced late on Monday. (Nov 27, 2012) Full Article
European
Union Foreign Policy chief Catherine Ashton on Monday reiterated the
European bloc's continued support to Georgia and welcomed the peaceful
transfer of power that followed the recent parliamentary elections in
the former Soviet Republic. (Nov 27, 2012) Full Article
Three
young Tibetans have self-immolated in China in the past 48 hours to
protest against Chinese rule in the autonomous Tibetan region, a rights
group said late on Monday. (Nov 27, 2012) Full Article
Currency Alerts
The
Australian dollar firmed against most major currencies in early Asian
deals on Tuesday as sentiment improved after Eurozone finance ministers
reached agreement on a new bailout program for debt-ridden Greece. (Nov 27, 2012) Full Article
In
the Asian session on Tuesday, the Japanese yen retraced from early
gains and dropped against other major currencies as Eurozone finance
ministers entered into agreement for the much awaited Greek bailout
program, reducing demand for safe-haven assets. (Nov 27, 2012) Full Article
The euro pared its Asian session advance in early deals Tuesday as risk-rally fizzled (Nov 27, 2012) Full Article
The pound strengthened against the euro and the Swiss franc in early deals Tuesday (Nov 27, 2012) Full Article
General News
A
major police base in the Nigerian capital Abuja was attacked by
unidentified gunmen on Monday and freed some of the prisoners being held
there, media reports citing local officials said. (Nov 27, 2012) Full Article
U.N.
Secretary-General Ban Ki-moon has congratulated Sierra Leone President
Ernest Bai Koroma on his re-election in the recent elections, and urged
all political leaders in the West African nation to maintain calm and
work towards unity and reconciliation. (Nov 27, 2012) Full Article
The
U.S. Navy has cracked its whip again on its sailors stationed in Japan
by banning them from night drinking after a series of alcohol-induced
incidents involving American soldiers enraged the Japanese people, Media
reports from Tokyo said. (Nov 27, 2012) Full Article
Remains
of the late Palestinian leader Yasser Arafat have been exhumed from a
limestone tomb in the West Bank city of Ramallah by international
experts as part of an investigation into allegations that he was
poisoned, media reports citing Palestinian officials said on Tuesday. (Nov 27, 2012) Full Article
NATO
Secretary-General Anders Fogh Rasmussen has said that he believes
Afghan security forces are capable of handling Afghanistan's security
responsibilities by themselves after the planned withdrawal of foreign
coalition forces from the country by the end of 2014. (Nov 27, 2012) Full Article
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