U.S. expects legal software sales to rise in China
The U.S. can expect greater legal software sales in China, the top U.S. trade official said Wednesday.
S&P raises China’s debt rating
Standard & Poor’s upgraded its long-term foreign and local currency sovereign credit ratings on the People’s Republic of China to ‘AA-’ (its fourth-highest ranking) from ‘A+’.
Top political and economic risks for Asia next year
The Asia-Pacific region will continue to be the fastest-growing region of the world in 2011, according to a forecast by IHS Global Insight. However, the report says the region faces significant risks in the backdrop of the fragile state of some of the largest economies in the world, the raging sovereign debt crisis in the European Union and 'deep-seated structural problems facing Japan.
New house permits fall despite higher housing starts in Nov.
Construction of new homes in the U.S. rose during November but permits fell surprisingly, according to a report by the U.S. Commerce Department, indicating that the housing market might face some weakness in the coming months.
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Europe should expand its sovereign bailout fund: experts
Many experts in the private sector favor expanding the size of the 750-billion euro European Financial Stability Facility (EFSF), which was created to bail out European countries under sovereign debt pressures.
Greek unions again strike to protest government austerity program
Greek unions have again staged strikes and demonstrations to protest the government’s austerity measures, including changes in labor laws and widespread cuts in wages.
What Roubini predicts for major global economies in 2011
Roubini Global Economics (RGE) has predicted that global economy's growth next year will be marginally weaker than this year, with eurozone holding the biggest risk to global growth, and that the U.S. will not emerge any time soon from the worst unemployment crisis it has faced in decades.
Tankan survey shows Japan’s recovery is fading
The Bank of Japan's Tankan business survey showed on Wednesday business confidence among large manufacturers dropped in December, the first decline in seven quarters, and that the prognosis going forward was gloomier.
What exactly is an emerging market anyway?
Some of the so-called emerging markets have advanced to a point where they might be considered “developed” -- or not, depending on one’s views and criteria. Further complicating this picture is the arrival of “frontier” markets – countries even less developed than the emerging markets, but boasting even greater long-term growth potential.
Why the Chinese save so much
The rise in income uncertainty and the 1997 pension reform measures have been largely responsible for the recent rise in China's savings rate. Other factors include health care costs and astronomical real estate prices.
China strikes a dovish tone, eases inflation target to 4 percent
After some seemingly hawkish moves in the past few weeks, Chinese policy makers adopted a dovish tone on Tuesday by easing the consumer inflation target to 4 percent for 2011.
IATA raises airline industry’s 2010 profit forecast, but warns of tough conditions next year
The International Air Transport Association (IATA) estimated that airlines will earn net profit of $15.1-billion this year – a 70 percent jump from its previous forecast made only three months ago when it forecast profits of $8.9-billion. But the group warned that net profit margins in the airline industry are pathetic
US retail sales rose in November
U.S. retail sales continued to rise in November for the fifth month, boosted by holiday shopping as well as fuel prices, the U.S. Commerce Department said.
Push to make R&D credit permanent
As Congress considers a broad tax deal proposed by President Barack Obama and Republicans, high tech and manufacturing businesses are particularly favorable to a provision that would extend research and development tax credits.
Finance Executives See No Need for Additional Stimulus
A survey conducted by Association for Financial Professionals showed the executives do not believe that additional fiscal stimulus is necessary or desirable at this stage.
German economic sentiment continues to improve
German economic sentiment rose more than expected in December, posting an increase for a second consecutive month.
Portugal seeks to sell government debt to China
The finance minister of debt-troubled Portugal is in Beijing, China to try to convince Chinese government authorities to purchase Portuguese government bonds.
China's inflation soars as markets ponder over policymakers' intentions
China is stepping up its efforts to contain inflation, even as the latest economic report indicates that inflation hovers around a 28-year high of 5.1 percent in November.
US economy could grow more than expected in 2011: WSJ Survey
Economists are more positive about economic growth in 2011 in the United States, according to a survey by the Wall Street Journal.
Who wins if Yuan is significantly revalued?
China has stubbornly refused to cede to U.S demands to let the yuan rise against the dollar. The question is, among the US and China who will gain and who will lose if China ever agreed to appreciate its currency?
China's real estate bubble economy is in big trouble: Chanos
Jim Chanos, arguably the most well-known short-seller in the world, is setting his sights on China's troubled real estate construction-driven economy.
The economic advantages of dictatorship
Dictatorships are faster and more efficient than democracies, which can be bogged down by long-drawn out debates among deeply polarized political parties who can't seem to agree on anything.
Why there will be no Treasury crisis
There are plenty of concerns surrounding U.S. Treasuries, yet a Treasury crisis doesn't seem to be happening.
Nobel peace prize winner Liu Xiaobo absent for award
Norway's Nobel committee held its Peace Prize awards ceremony on Friday without the award's recipient, human rights activist Liu Xiaobo.
US consumer sentiment up in December: Survey
Consumer sentiment in the U.S. rose more than expected during December, and an index of current conditions touched its highest level since January 2008, the Thomson Reuters/ University of Michigan Survey said.
US trade deficit falls to nine-month low in October
US trade deficit declined sharply in October to reach a nine-month low as exports rose, the US commerce department said on Friday.
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