The economy of Singapore surged by an astounding 14.7 percent in 2010, primarily driven by a surge in manufacturing activity, versus a 1.3 decline in the prior year, making it Asia’s fastest-growing economy.
The Gold Price in Euros has risen more than 38% so far in 2010. The Gold Price in Swiss Francs has also hit record highs. It looks as if the SNB will have to revoke its decision to stop intervening, says Steven Barrow, chief currency strategist at Standard Bank in London today.
Cote d'Ivoire's disputed president, Laurent Gbagbo, has announced that he would be willing to engage with the rival faction of Alassane Ouattara. In a televised address, he announced that the international community had declared a war on the African nation. The incumbent president also called on the Opposition to leave Abidjan's Golf Hotel and return to their homes.
The Hong Kong property market -- fueled by strong capital inflows -- soared almost 20 percent so far this year.
China on Tuesday offered support to Europe's efforts to deal with the peripheral debt crisis and said Beijing will not cut down its holdings of European sovereign bonds.
Moody's Investor Services on Friday downgraded debt-stricken Ireland's rating by five notches, citing the country’s troubled banking sector, uncertain economic outlook and decline in the Irish government's financial strength.
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 have again staged strikes and demonstrations to protest the government’s austerity measures, including changes in labor laws and widespread cuts in wages.
Employment rates remained mostly stable in the euro area during the third quarter, dropping only by 0.2 percent, while unemployment rate in the U.K. touched its highest since the beginning of the year.
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.
The finance minister of debt-troubled Portugal is in Beijing, China to try to convince Chinese government authorities to purchase Portuguese government bonds.
An Irish delegation led by former prime minister John Bruton has travelled to the Middle East, gauging the interest of Arab investors, including sovereign wealth funds, in buying some troubled Irish banks, as the Dublin government seeks foreign investors for financial investment.
On an interview today with CNBC, famed investor and hedge fund manager Jim Rogers said some European countries should be allowed to go bankrupt so that they can restructure their debt without hurting other parties.
The Irish government has presented what is likely the toughest austerity budget in its history, comprising spending cuts of 6-billion euros ($8-billion) and an increase in taxes, in addition to other measures already outlines last month in the so-called “National Recovery Plan.”
The United States is expected to see weak employment prospects though employers expect the modest hiring pace to continue in the first three months of the year, a survey reported.
A study by IMF economists Luc Laeven and Hui Tong found that U.S. monetary policy shocks drive global stock market prices.
The International Monetary Fund (IMF) is urging the European Union (EU) to expand the size of its rescue fund in the wake of weakening market performance in the euro zone’s peripheral members.
The precious metals were mixed in November, with silver outshining the rest with a 13.6 percent jump, followed by palladium which rose 7.75 percent. Gold managed to end the month with marginal gains of 1.87 percent while platinum fell 2.7 percent from its end-October level.
After enjoying nearly two decades of an unprecedented economic prosperity at home, many Irish are now seeking to leave for greener pastures elsewhere as the nation finds itself on the brink of an economic collapse.
Standard & Poor’s said it cut its long-term sovereign credit rating on the Republic of Ireland to 'A' from 'AA-' and its short-term rating to 'A-1' from 'A-1+'.
Germany's argument for a policy to make private investors pick up part of the bill for any future bailouts won support from France as more European countries seem to require financial aid.
The IMF published a study asserting that growing income inequality in the U.S. triggered the two most severe financial crises and economic downturns of the last 100 years by creating unsustainable imbalances.
