A complicated week for Japan: car production in April plunged as manufacturers continue to face a shortfall in parts supply and credit rating agencies downgraded the outlook on the country’s debt to negative from stable.
Interest for Uruguayan ten-year bonds in Yens more than doubled the issue equivalent to 490 million US dollars. The bonds are guaranteed by Japan Bank for International Cooperation with a 1.6% yield.
The Air France jet which crashed into the Atlantic en route from Rio in 2009 stalled and fell in three and a half minutes, French investigators report. The air accident investigations bureau (BEA) found the crew had struggled with contradictory speed readings just before the plane crashed.
Finance Minister Christine Lagarde is the wrong choice to head the International Monetary Fund as it gets deeper into the Euro-zone rescue, a former IMF chief economist said this week.
Origen Private Equity Ltd., a boutique investment firm headquartered in London, is launching in June what is set to be the first impact investment fund developing low-cost housing in north-east Brazil in conjunction with the Brazilian government's Minha Casa Minha Vida programme.
World Trade Organization Director General Pascal Lamy warned world leaders that adopting protectionist measures can have “devastating effects” on the global economy. Addressing the G 20 group Lamy called on the leaders to resist “the temptations of protectionism”.
Nouriel Roubini, the New York University economist known as Dr Doom, says Greek restructuring would not bring down Europe's financial system. The economist, who earned his nickname by predicting the global financial crisis, says an orderly debt restructuring could pre-empt more trouble.
The World Organization for Animal Health (OIE) declared rinderpest, one of the deadliest diseases of cattle and of several other animal species, eradicated from the surface of the earth.
Doha round of negotiations on world trade faces collapse unless world leaders can reach a final agreement to lift trade tariffs before the end of the year, a new report by the governments of the UK, Germany, Turkey and Indonesia warned this week.
The Group of Eight leaders meeting in France are expected to approve on Friday billions of dollars in aid in support of the ‘Arab spring’ with a program designed to foster change sweeping North Africa and the Middle East.