The Manila-based Asian Development Bank (ADB) has trimmed its GDP growth projection for the Asia Pacific region from 6.2% to 6.1% in 2014 and from 6.4% to 6.2% in 2015, Asia First reported.…
World Economy
General Motors Co has developed contingency plans in case recalls of potentially lethal Takata-made air bag inflators widens, forcing the US automaker to repair millions of vehicles, the company…
Canada’s inflation rate cooled to two percent in November, down from 2.4 percent the previous month mainly due to a sharp decline in gasoline prices.
Statistics Canada said that gasoline…
The prospect of European Central Bank starting sovereign-debt purchases in 2015 pushed Spain’s 10-year yields down by the most in three months this week, with record-low rates proving no deterrent…
A few years ago, hedge fund Level Global Investors made $54 million selling Dell Computer stock based on insider information from a Dell employee. When charged with illegal insider trading, Global…
The Fitch rating agency has cut the long-term credit rating of Venezuela two notches to triple-C, saying a default is highly likely, as slumping oil prices make the country one of the biggest…
Russia’s Central Bank may further raise its key rate to stabilize the currency market, national development bank Vnesheconombank Deputy Chairman and former Deputy Economic Development Minister…
Fitch Ratings upgraded Egypt’s credit rating one rank to “B” with a “stable” outlook, saying the authorities seemed committed to major reforms, AFP said. “Fuel subsidy cuts and tax hikes have been…
Switzerland's National Bank (SNB) will bring in a negative interest rate cutting the value of large sums of money left on deposit in the country.
The Bank is imposing a rate of minus 0…
China revised up the size of its economy in 2013 but sees that having little effect on economic growth this year. This comes amid expectations that Beijing may roll out more stimulus to…
France’s national statistics agency on Thursday forecast a slight lift in economic growth thanks to falling oil prices and a weaker euro, but warned it would not be enough to lower the nation’s…
China has officially overtaken the United States economy, becoming the largest economic power in the world. According to the newly released data by the International Monetary Fund, when national…
The International Monetary Fund held back $106 million (86 million euro) in bailout funds for Cyprus Friday, after the eurozone government suspended a foreclosure law that was required under the…
The Federal Reserve is taking “unacceptable” inflation risks, raising the specter of Japanese-style deflation, Minneapolis Fed President Narayana Kocherlakota said Friday.
The World Trade Organization strengthened its support Thursday for China in a final ruling in a dispute over punitive duties imposed by the United States on a range of Chinese products.
A…
The German parliament Thursday backed plans to extend a credit program for Greece, with Finance Minister Wolfgang Schaeuble voicing hope for a “happy ending” to Athens’ economic and political woes…
The International Monetary Fund announced Thursday that it had approved the release of $1.05b for Pakistan, the fifth installment of a $6.6b loan to the crash-strapped nation. The Washington-based…
Brazil’s inflation in the month through mid-December accelerated faster than forecast, and unemployment unexpectedly increased, as the central bank continues to raise rates in the…
President Vladimir Putin assured Russians on Thursday that the economy would rebound after the ruble’s dramatic slide this year but offered no remedy for a deepening financial crisis.
Switzerland on Thursday cut its growth forecast for 2015 as a recovery in the eurozone turns out to be more sluggish than earlier thought, AFP reported. The national statistics agency said it…
US regulators have labeled insurer MetLife as a potential threat to the financial system, a designation that brings stricter government oversight. AP said.
Foreign direct investment into Thailand reached $178 billion in 2013, up from $172 billion in the previous year, according to the International Monetary Fund (IMF) report.
Japanese firms are holding a record amount of cash equivalent to almost half the country’s gross domestic product, Bank of Japan figures showed Thursday, despite growing calls to open up those…
Gold edged up above $1,200 an ounce on Friday as buyers helped the metal hold up against rising equity markets, paring losses fueled by worries over a looming hike in US interest rates.
Britain’s Marketing and communication group UBM has completed the acquisition of US-based VSS-AHC Consolidated Holdings for £599m ($938m). The group said that by purchasing the American firm, also…
