Bank of Spain figures show that net capital outflows—including bank withdrawals and sell-offs of Spanish stocks and bonds—equaled more than 50% of the country’s economic output over the year ended July 31.
World Bank Group President Jim Yong Kim announced the appointment of Indian national Kaushik Basu as the institution’s new Chief Economist and Senior Vice President.
Chancellor Angela Merkel defended the European Central Bank on Friday after its plan to buy the debt of troubled Euro zone states stirred outrage in Germany and threats from some in her own party to try and block the scheme.
Europe's trade chief threatened to take Russia to the World Trade Organization over a string of restrictive practices, saying Moscow needed to play by the rules now it was a member of the global body.
US President Barack Obama said on Friday the labour market is not hiring workers fast enough, following the release of a government report that showed weaker-than-expected employment figures.
Brazil will cut energy costs for companies and consumers while pressuring banks to lower lending rates to accelerate growth, said President Dilma Rousseff in a speech on national television to commemorate the country’s independence.
Global food prices remained steady in August, the United Nations food agency said Thursday, but warned that the game is not over as it was only the beginning of the harvest season.
Managing Director Christine Lagarde of the International Monetary Fund (IMF) showed strong support of the European Central Bank's new framework for intervention in the Euro zone debt crisis, deeming Thursday’s action 'an important step toward strengthening stability and growth.'
Asian shares looked set for their biggest daily gain in nearly five weeks on Friday after the European Central Bank outlined its bond-buying scheme to help calm the Euro zone's debt crisis, while firm US data fed speculation of a strong jobs report later in the day.
Argentina's trade surplus rose to 1.64 billion dollars in August, more than double the surplus in the same month a year ago achieving the twelve months target four months ahead, President Cristina Fernandez announced on Thursday.