Economic News July 20, 2012
Germany's economic growth slowed 'somewhat' in the second quarter amid weak industrial production, the Finance Ministry said in its monthly report on Friday. (Jul 20, 2012) Full Article
Forex Top Story
The U.K. government should not accelerate its fiscal consolidation if growth fails to gather momentum despite further monetary and credit easing, the International Monetary Fund said in a review report on Thursday. (Jul 20, 2012) Full Article
Eurozone finance ministers are expected to sign an agreement on the proposed financial assistance to Spain to recapitalize its troubled banks, at a meeting on Friday. (Jul 20, 2012) Full Article
Import prices in Australia rose more than expected in the June quarter with the weak dollar pushing up prices of fuel and pharmaceutics. (Jul 20, 2012) Full Article
Germany's producer price inflation eased more-than-expected in June to its lowest level in two years, the Federal Statistical Office said Friday. (Jul 20, 2012) Full Article
The U.K. public deficit widened in June raising concern about the ability of the government to bring down its shortfall to the target as the economy is struggling to avoid sinking deeper into a double-dip recession. (Jul 20, 2012) Full Article
Eurozone finance ministers unanimously agreed the bailout deal for Spanish banks on Friday during a conference call, the Eurogroup said in a statement. The bailout will provide funding up to EUR 100 billion, as agreed last month. In the beginning, EUR 30 billion will be set aside to be used in case of 'urgent unexpected financing needs'. (Jul 20, 2012) Full Article
Political News
Syrian rebels have seized all border crossings to Turkey as well as the control of a post on the Turkish border after security forces posted in the area were pulled back to Damascus to counter a recent spurt in rebel attacks in the capital, according to media reports. (Jul 20, 2012) Full Article
A court in Chinese capital Beijing has rejected an appeal filed by dissident artist Ai Weiwei against a $2 million fine imposed on his company for alleged tax evasion, the artist's lawyer said on Friday. (Jul 20, 2012) Full Article
China and the United States will hold the 17th session of their Human Rights Dialogue in Washington on July 23 and 24, the U.S. State Department announced late on Thursday. (Jul 20, 2012) Full Article
Finland's parliament approved a Eurozone-sponsored rescue deal for Spanish banks and the collateral deal struck by the country with Spain, during a confidence vote on Friday. (Jul 20, 2012) Full Article
Hundreds of thousands of people took to the streets across Spain on Thursday to protest against the latest austerity measures being implemented in the country as part of the government's efforts aimed at achieving deficit targets amid a severe recession. (Jul 20, 2012) Full Article
Currency Alerts
The euro has been extending its slide against most major currencies in European deals on Friday after reports said that the Spanish 10-year benchmark yields climbed back above the critical threshold of 7 percent, despite both German and Finnish parliaments approval of the aid funds directed to the Spanish banking system. (Jul 20, 2012) Full Article
General News
Major Japanese railcar maker Nippon Sharyo opened its first overseas manufacturing facility in the U.S. state of Illinois on Thursday. (Jul 20, 2012) Full Article
Taiwan's export orders decreased less than economists expected in June, data from the Department of Statistics of the Ministry of Economic Affairs showed Friday. (Jul 20, 2012) Full Article
At least 80 people are still missing after a Tanzanian ferry with more than 280 people on board sank in the Indian Ocean off the coast of Zanzibar's main island on Wednesday. (Jul 20, 2012) Full Article
Japan will be able to use in three years the huge rare earth metal reserves found in its deep territorial waters if extraction work is expedited up, says a top Japanese scientist. (Jul 20, 2012) Full Article
Top U.S. officials who have just returned from visits to Turkey and Jordan said that 140,000 people have fled to neighboring countries to escape the deteriorating conflict in Syria, and that everyday more Syrians were crossing borders seeking safety. (Jul 20, 2012) Full Article
At least 12 people were reported killed when a masked gunman opened fire into a packed theater during the premiere of a new Batman film at a suburban cinema in Denver, capital of the U.S. state of Colorado, on Thursday night. (Jul 20, 2012) Full Article
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