Economy

Economy
Wednesday, October 15th 2014 - 08:28 UTC

Germany insists with a 2015 balanced budget despite slower growth forecast

“Germany's stance is important. If we stray from our path then that gives grounds for others to do the same,” said Merkel at a party conference

German Chancellor Angela Merkel on Tuesday rejected calls for Berlin to ditch its plans for a balanced budget next year and to instead invest more in order to shore up the faltering German and Euro zone economies. On Tuesday Germany slashed its 2014 growth forecast from 1.8% to 1.2%.

Wednesday, October 15th 2014 - 08:16 UTC

Oil prices hit new lows with prospects of further slide; excess supply, weak demand

In its monthly oil market report, the IEA said Opec production hit a 13-month high in September.

Global oil prices have fallen further after the International Energy Agency (IEA) reported higher output and cut its forecast for demand growth. Brent crude fell 2.72 to 86.17 dollars a barrel before seeing a slight recovery, while US crude dropped 1.75 to 83.99.

Tuesday, October 14th 2014 - 16:43 UTC

IMF urges economic reforms or face brittle growth, high debt and unemployment

Lagarde has been beating the drum on deeper economic reforms for at least the past two years

The world's policymakers must take economic reforms more seriously, or they could see their economies stuck in a muddle of mediocre growth with high debt and unemployment, the head of the International Monetary Fund said at the multilateral organization assembly.

Tuesday, October 14th 2014 - 05:35 UTC

Bank of England governor warns 'bankers' behavior still needs to change”

Governor Carney's warning comes amid a radical reshape of the industry aimed at limiting the impact of any future bank collapses.

Bankers' behavior still needs to change following the financial crisis, Bank of England governor Mark Carney has warned. He added that top executives had “got away without sanction”.“Maybe they were not at the best tables in society after that, but they're still at the best golf courses. That has to change,” he said. Mr Carney was speaking at the International Monetary Fund's annual meeting in Washington.

Monday, October 13th 2014 - 07:17 UTC

Argentina doesn't need international credit, “we have foreign currency to face debt maturities”

Kicillof argued the problem with foreign credit is “conditions demanded”

Argentine Economy Minister Axel Kicillof has assured that the government of president Cristina Fernandez is not seeking international financing despite current economic problems, since it has foreign trade surpluses and all the foreign exchange needed to face debt maturities.

Monday, October 13th 2014 - 06:54 UTC

US against China proposal to create a regional development bank for Asia

Xi Jinping want to make the formal announcement at a summit meeting of Asian leaders in November

For almost a year, China has been pitching an idea to its neighbors in Asia: a big, internationally funded bank that would offer quick financing for badly needed transportation, telecommunications and energy projects in underdeveloped countries across the region.

Saturday, October 11th 2014 - 03:24 UTC

Special Master Pollack to meet with Argentina's and holdout lawyers next week

Daniel Pollack confirmed that he anticipated a meeting, but declined to provide further details

A United States court-appointed mediator said on Friday he would hold a meeting next week between lawyers for Argentina and 'holdout' creditors suing the country in a longstanding dispute over defaulted debt.

Saturday, October 11th 2014 - 03:22 UTC

Morales confident he will win Sunday's election in all nine Bolivian districts

“Bolivia is now united, the so-called ‘half-moon’ (the opposition’s bastion of support in the east) has now become a full moon. We’ve all joined together”

At an event to mark the closing of his campaign ahead of Sunday’s elections, a self-assured Evo Morales told Bolivians that he will win all over the country and will even take the opposition’s bastions of support in the east.

Saturday, October 11th 2014 - 01:18 UTC

Falklands lawmakers at CPA conference discuss support for the Islands and education

The 60th annual meeting of the Commonwealth Parliamentary Association (CPA) conference was held in Yaounde, Cameroon. has 53 country members.

Falkland Island lawmakers, MLAs, Barry Elsby and Phyl Rendell have been attending the 60th annual meeting of the Commonwealth Parliamentary Association (CPA) conference in Yaounde, Cameroon. CPA is made up of Parliamentarians from 53 democratic countries with 188 branches in 9 Regions across the world.

Friday, October 10th 2014 - 06:13 UTC

Bumper harvests and stockpiles driving down cereal prices, says FAO report

World wheat production in 2014 is forecast to reach a new record

Food markets are more stable and prices for most agricultural commodities are sharply lower than they have been in recent years, according to the latest edition of FAO's biannual Food Outlook report and a new update to the Organization's monthly Food Price Index.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement