European Markets Fall On Euro Zone Concerns
European markets fell Monday as investor sentiment turned negative after fears of the debt crisis affecting the euro zone were revived undermining the optimism over the stimulus measures announced by policymakers to bolster economic growth.
IMF Chief Christine Lagarde’s Statement At APEC Leaders Summit (FULL-TEXT)
Christine Lagarde, managing director of the International Monetary Fund (IMF), issued the following statement at the opening of Asia-Pacific Economic Cooperation (APEC) Leaders Summit in Vladivostok, Russia on Sunday.
China’s August Trade Surplus Widens As Exports, Imports Disappoint
China reported a trade surplus of $26.66 billion in August amid the slower-than-expected growth in exports and imports, raising concern that the world's second largest economy isn't doing enough to stimulate the economy and avert a slowdown.
Draghi: ECB Agrees Unlimited New Bond Program - OMT
European Central Bank President Mario Draghi said Thursday the “euro is irreversible” and announced a new bond-buying plan “Outright Monetary Transactions,” or OMTs, aimed at lowering the struggling euro zone countries’ borrowing costs which would serve as a “fully effective backstop.”
US Promises $1B In Debt Relief For Egypt, Even More For Military Aid
The United States is getting ready to finalize a deal for $1 billion in debt relief for Egypt, a move that could set a new tone for Egypt-U.S. relations.
Jackson Hole, Bernanke And Draghi: Economic Events for Aug. 27-31
The biggest event this week is Friday's Jackson Hole meeting. While this week's economic calendar is rather packed, Wall Street seems to care more about Federal Reserve Chairman Ben Bernanke's speech at the Kansas City Fed's annual economic symposium.
Merkel Backs Bundesbank Chief's Rejection Of ECB Bond Buying
German Chancellor Angela Merkel voiced support for Bundesbank chief Jens Weidmann on Sunday, saying she welcomed his warnings about the handling of the euro zone debt crisis and saw his influence within the European Central Bank as positive.
China's Local Governments Readying A Stimulus Package Bigger Than Most Economies
Local governments in China are getting ready for major stimulus spending worth as much as 1.1 trillion dollars, despite warnings about the possibly detrimental effects.
Egypt Seeks $4.8-Billion Loan From IMF
The Egyptian government Wednesday sought a $4.8-billion loan from the International Monetary Fund to help boost the country's economy struggling to recover from a political turmoil since last year's uprising that led to the fall of President Hosni Mubarak.
China's Manufacturing Activity Slumps To 9-Month Low In August: HSBC PMI?
China's manufacturing activity fell in August compared to that in July, according to the preliminary HSBC Flash Purchasing Managers Index released Thursday.
'Give Me Air To Breathe': Greek PM Pleads For Time Ahead Of EU Charm Offensive
Both Juncker and German Chancellor Angela Merkel, who Samaras will meet on Friday, are under enormous political pressure to act tough with Greece and are expected to offer little room for renegotiation.
Not Going Anywhere: Can Hungary Force Travel Ban On Its Brightest College Grads?
Hungary's best and brightest are feeling pinched by an increasingly demanding government.
As Portugal’s Pain Deepens, Investors Reward Nation
Investors rewarded Portugal's efforts to trim its budget gap by sending the credit-default swaps on Portugal to a low of 725 basis points on Thursday, down from 1,515 in January and 1,237 in May, according to Bloomberg. The implied probability of Portugal defaulting on its debt fell to 46 percent from 73 percent.
Weekly Roundup: Asian Markets Gain On US Data, China Stimulus Hopes
Asian markets gained this week on buoyed investor confidence with indications of an improving U.S. economy and the hopes of an announcement of stimulus measures by China to regain the economic growth momentum.
China’s Economic Slowdown Calls For Urgent Stimulus Measures
With China’s economy continuing to slowdown in 2012 market participants feel it is imperative that stimulus measures be implemented to regain the growth momentum.
China Manufacturing Growth Slows Down In July, Says Official PMI
China's manufacturing activity grew at a slower pace in July compared to that in the previous month, increasing concerns over a slowdown in the economic growth of the country.
?We Are On The Brink?: Greek Government Nearly ?Out Of Cash? Says Finance Minister
While Greece awaits the latest round of bailout cash from international lenders, the country is fast approaching a new payment deadline and has until the end of August to repay a ?3.2 billion ($2.6 billion) bond or face the catastrophic consequences of defaulting on its debts.
Weekly Roundup: Asian Markets Fall On Euro Zone Fears
Most of the Asian markets fell in the week following the revival of the investor concerns about the deepening debt burden faced by the euro zone and worsening global economic growth.
Central Bank Preview: What Will Fed, ECB, BOE Do Next Week?
Next week could see some major worldwide financial implications, depending on what three of the world's largest central banks do at their scheduled meetings.
Japan Retail Sales Growth Retards In May
Japan’s retail sales growth slowed down in June as compared to May, indicating that private consumption being affected by the faltering global economic conditions.
Spain: The Next Wave Of The Financial Crisis Arrives
The Spanish crisis, last week’s German vote, talk of a possible withholding of funds for Greece, and now the downgrading of the credit outlook for Europe’s strongest economies, point to a worsening of the financial crisis, a reduction in support for the euro, and a global economy increasing at risk.
Asian Stock Market Advance On Easing Hopes
Asian stock markets advanced for the first time in five days on Thursday as disappointing U.S. housing data boosted hopes for further monetary stimulus from the Federal Reserve.
IMF Welcomes Sudan Austerity But Urges More Reforms
Sudan must press ahead with reforms to ensure its economic stability, an International Monetary Fund mission said on Wednesday, while welcoming the country's recent moves including scaling back its fuel subsidies and devaluing its currency.
Worsening Euro Zone Crisis Drag US Stock Futures
The U.S. stock index futures pointed to a lower opening Wednesday as investor confidence continued to be dragged down with no resolution to the euro zone crisis visible on the horizon.
US Stock Futures Signal Flat Open Amid Euro Zone Concerns
U.S. stock index futures point to a flat opening Tuesday as investor sentiment continue to be affected by the mounting borrowing costs faced by Spain and worsening economic condition of Greece.
European Stocks Push High But Economic Fears Continue
Most European markets rose Tuesday but investors remained watchful amid continuing concerns of the deepening economic conditions in the euro zone.
China's Manufacturing Activity Picked Up In July: HSBC PMI?
China's manufacturing activity rose in July compared to that in June, according to the preliminary HSBC Flash Purchasing Managers Index (PMI) released Tuesday.
Troika To Review Greece's Austerity Progress
Representatives of the creditors that are keeping Greece economically afloat are set to arrive in Athens Tuesday to appraise Greece's slow progress in implementing austerity measures required for it to continue to receive bailout money.
US Q2 GDP, Durable Goods, Pending Home Sales: Economic Events For July 23-27
In a fairly light week of data, Friday's first take on the U.S. second-quarter gross domestic product will be the main event. Economists expect a feeble reading of 1.4 percent. This will be the final major data point to influence participants at the July 31 - Aug.1 meeting of the policy-setting Federal Open Market Committee.
Asian Stocks Tumble On Spanish Fears, China Slowdown
Asian stock markets slumped Monday as renewed concerns over the euro zone debt crisis and worries about the Chinese economic slowdown dented investor sentiment.