There is a common misconception that the euro area is a monetary union without a political union. But this reflects a deep misunderstanding of what monetary union means.
World Economy
Prince Alwaleed bin Talal has lashed out at the Saudi fiscal policy after projecting the largest ever budget deficit for 2015 following the slump in oil prices, Middle East online reported…
Afghanistan and Pakistan officials have once again agreed to strengthen economic and bilateral ties, this time on a new set of plans, Wadsam reported. An Afghan delegation met with Pakistan’s…
The Russian government is pumping money into big companies that are being starved for cash by western sanctions, CNNmoney reported. In the past week alone, it invested $1.7b in Russian bank…
Global manufacturing activity expanded at its weakest pace in more than a year at the end of 2014, even though factories cut their prices at the steepest rate for nine months, a business survey…
The pound fell against the dollar for a third week, reaching a 16-month low, as reports showed growth in manufacturing and the housing market slowed, spurring bets the Bank of England …
The China International Capital Corporation (CICC) has predicted a stable exchange rate for the Chinese currency, the yuan, in 2015, despite a weaker Rmb-USD rate, AsiaFrist reported. The macro…
The Eurasian Economic Union (EEU) has officially come into force on January 1, 2015. On January 2, Armenia joined Belarus, Kazakhstan, and Russia in the new Union, which provides for four key…
The value of the euro has fallen to its lowest level since the middle of 2010, following comments from Mario Draghi, the president of the European Central Bank (ECB).
In a newspaper…
Equity capital markets activity totaled $890.4 billion during full year 2014, an 11% increase compared to full year 2013 and the strongest annual period for global equity capital markets issuance…
Two of Europe’s leading pension markets are about to undergo a dramatic shake-up in the new year with the introduction of ground-breaking reforms.
Spain’s CaixaBank and Barclays Bank PLC have concluded the deal on the purchase by the Spanish retail of Barclays Bank SAU, the bank’s Spanish branch. The sale includes the retail business of…
Apple is facing a lawsuit for not telling users about the amount of memory required by its flagship operating system, BBC said. The legal complaint revolves around iOS 8 and the amount of memory…
China’s Three Gorges dam has broken the world record for annual hydroelectric power production, more than a decade after it became the world’s largest power plant, its operator said, AFP said in a…
Gold inched up on Friday as higher oil prices boosted its safe-haven appeal, but the metal looked set to post its third straight weekly loss, weighed down by a strong dollar.
Bullion ended…
New months are typically meant to bring fresh cash into many market.
Indeed, many use this as an explanation for the so-called “January effect”, the idea that share markets in…
South Korea enjoyed record exports last year, data showed Thursday, despite slow economic growth in key market China and a sluggish recovery in Europe.
For the whole of 2014, overseas…
Brazil’s manufacturing activity ended a three-month contraction in December as new orders picked up, though overall growth remained very slight, as President Dilma Rousseff kicked off a second…
Price stability in the eurozone is more at risk than six months ago, according to ECB President Mario Draghi said, and urges member states to speed up reforms.
Tata Steel Ltd. restarted one of its biggest iron ore mines in India, four months after the nation’s top producer was ordered to suspend operations pending lease renewal.
It’s the first time since 2007 that the American economy did not take the top spot as Americans’ biggest concern in the survey, and the first time in its history that politicians were labeled the…
Borrowing rates in France, Spain and Italy fell to fresh historic lows on Friday in thin holiday trading, as investors eyed possible new anti-deflation measures from the European Central Bank, AFP…
Non-OPEC member Oman on Thursday announced a budget deficit for 2015 of $6.47b, reflecting the effect on Persian Gulf producers of plummeting crude oil prices, AFP reported. The budget includes…
Lithuania welcomed a New Year and a new currency on Thursday, becoming the last Baltic nation to adopt the euro in a bid to boost stability despite fears of inflation and eurozone debt woes, AFP…
A boost in new orders helped Germany’s manufacturing sector return to growth in December, a survey showed on Friday, fanning hopes for a modest recovery in Europe’s largest economy.
