Asian shares rise on ECB hopes despite uncertainty

Published : 12:02 am  August 22, 2012  |  Category: International  |  1 Comment  |  508 views  |  
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Reuters: Shares rose on Tuesday as investors held on to hopes the European Central Bank can trim borrowing costs and help restore confidence in the euro bloc, even as officials denied a report about the shape of its planned bond buying strategy. But most other assets – from the euro to oil and gold – drifted in ranges due to uncertainty surrounding major events that will take place after a couple of weeks of summer lull. There’s an ECB’s policy meeting on September 6 and euro zone finance ministers will meet in mid-September.  Read More →


Iran unveils new missile, other weapons

Published : 12:02 am  August 22, 2012  |  Category: International  |  1 Comment  |  531 views  |  
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Reuters: Iran unveiled upgrades to six weapons on Tuesday, including a more accurate short-range missile and a more powerful naval engine, Iranian media reported, in what seemed to be its latest response to international pressure over its nuclear programme. The hardware was presented at a ceremony marking Defence Industry Day and attended by President Mahmoud Ahmadinejad and Defence Minister Ahmad Vahidi.  Read More →


Russia warns West over Syria after Obama threats

Published : 12:02 am  August 22, 2012  |  Category: International  |  1 Comment  |  599 views  |  
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Reuters: Russia warned the West on Tuesday against unilateral action on Syria, a day after U.S. President Barack Obama threatened “enormous consequences” if his Syrian counterpart used chemical or biological arms or even moved them in a menacing way. Russian Foreign Minister Sergei Lavrov, speaking after meeting China’s top diplomat, said Moscow and Beijing were committed to “the need to strictly adhere to the norms of international law…and not to allow their violation”.  Read More →


Italy’s Monti sees end of crisis getting closer

Published : 12:29 am  August 21, 2012  |  Category: International  |  Leave a Comment  |  578 views  |  
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Reuters: Italian Prime Minister Mario Monti said on Sunday the end of the economic crisis in his country was in sight and that the euro zone must not let the single currency become a source of friction between the north and south in the bloc.  Read More →


Myanmar will be middle income nation if reforms stay on track – ADB study

Published : 12:27 am  August 21, 2012  |  Category: International  |  1 Comment  |  587 views  |  
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BANGKOK, THAILAND: Myanmar could follow Asia’s fast growing economies and expand at 7% to 8% a year, become a middle income nation, and triple per capita income by 2030 if it can surmount substantial development challenges by further implementing across-the-board reforms, a new Asian Development Bank (ADB) study says.  Read More →


Asia shares ease after recent gain, policy bets persist

Published : 12:26 am  August 21, 2012  |  Category: International  |  Leave a Comment  |  610 views  |  
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Reuters: Asian shares inched lower on Monday, taking a break after investor risk appetite had risen on hopes that Europe’s policymakers will take decisive steps to tackle the euro zone’s debt crisis in coming weeks.  Read More →


UK lawmakers say Libor case shows Barclays flawed

Published : 12:00 am  August 20, 2012  |  Category: International  |  1 Comment  |  532 views  |  
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Reuters: Company culture at Barclays) was “deeply flawed” and the Bank of England’s hand in ditching its chief executive Bob Diamond was hard to justify, a UK parliamentary report into the “disgraceful” rigging of Libor interest rates said on Saturday. Few emerge unscathed from the Treasury Select Committee’s 300-page report, based on a string of high-profile hearings after Barclays was fined a record $453 million on June 27 for manipulating the London Interbank Offered Rate or Libor.  Read More →


Small states squabble over euro zone’s future

Published : 12:00 am  August 20, 2012  |  Category: International  |  1 Comment  |  463 views  |  
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VIENNA/HELSINKI (Reuters): Smaller euro zone countries that have retained top credit ratings through the region’s crisis squabbled on Friday over whether struggling nations like Greece that threaten the currency union’s stability should be kicked out. Top Austrian and Finnish politicians insisted they were committed to keeping the union intact after ministers from junior coalition parties said they were preparing for a break-up of the bloc, or called for countries that broke promises to be thrown out.  Read More →


PM’s econ panel lowers India’s GDP forecast, warns of rating downgrade

Published : 12:00 am  August 20, 2012  |  Category: International  |  Leave a Comment  |  524 views  |  
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Reuters: Advisers to the prime minister issued a stern warning to the government on Friday on the need to rein in the country’s fiscal and current account deficits to avoid the risk of a credit ratings downgrade to junk status. They urged the government to raise subsidised diesel prices and adopt measures to attract foreign investment, both of which would help ease pressure on the twin deficits and so help an economy that has shifted down several gears this year and the weak rupee.  Read More →


Data points to lacklustre economic growth in US

Published : 12:58 am  August 18, 2012  |  Category: International  |  Leave a Comment  |  491 views  |  
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WASHINGTON (Reuters): A trend measure of Americans signing up for new jobless benefits fell close to a four-year low last week, but weakness in a regional factory gauge showed US recovery still faces an uphill climb.  Read More →


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