Economic News August 15, 2012
The non-performing loans ratio of Chinese banks remained stable in the second quarter, the China Banking Regulatory Commission (CBRC) reported Wednesday. (Aug 15, 2012) Full Article
Ireland's first issue of sovereign annuity bonds underlines the improving financing flexibility of the nation, Fitch Ratings said Wednesday. (Aug 15, 2012) Full Article
Greece is set to seek an extension of the austerity programme agreed by it with lenders, the Financial Times reported Tuesday citing a document. (Aug 15, 2012) Full Article
With a continued drop in energy prices offset by higher prices for shelter and medical care, the Labor Department released a report on Wednesday showing that U.S. consumer prices unexpectedly came in unchanged in the month of July. (Aug 15, 2012) Full Article
Conditions for New York manufacturers have unexpectedly deteriorated in the month of August, according to a report released by the Federal Reserve Bank of New York on Wednesday, with the index of regional manufacturing activity turning negative for the first time since October of 2011. (Aug 15, 2012) Full Article
Forex Top Story
Australia's consumer confidence deteriorated in August despite interest rate cuts and government pay-outs, a closely watched survey showed Wednesday. (Aug 15, 2012) Full Article
Singapore's retail sales declined on a sharp contraction in automobile sales in June, reflecting weak economic activity in the second quarter. Nonetheless, the rate of decline slowed more than expected from the previous month. (Aug 15, 2012) Full Article
Policymakers of the Bank of England were unanimous in maintaining quantitative easing at GBP 375 billion early this month, the minutes of the August meeting revealed Wednesday. (Aug 15, 2012) Full Article
Malaysia's economic growth unexpectedly accelerated in the second quarter, after slowing in the previous two quarters, as robust domestic demand, spending and investment, offset a further moderation in exports hurt by falling global demand, latest data showed. (Aug 15, 2012) Full Article
Indicating the remarkable resilience of the U.K. labor market amid a severe recession, the number of Britons seeking jobless benefits unexpectedly declined in July, apparently due to a temporary boost from the Olympics. (Aug 15, 2012) Full Article
Commodities
Gold was extending losses Wednesday morning as the U.S. dollar was steady ahead of inflation data, due out later today. (Aug 15, 2012) Full Article
The price of crude oil was little changed Wednesday morning as traders await cues from the official inventories data from the EIA. (Aug 15, 2012) Full Article
Political News
The United States has accused Iran of building and training a Syrian militia group as part of its efforts to bolster the tottering regime of President Bashar al-Assad in the strife-torn Middle East nation, and expressed concerns at the growing Iranian involvement in Syria. (Aug 15, 2012) Full Article
China and North Korea have agreed to speed up the development of special economic zones in the North set up by the two countries, media reports said. (Aug 15, 2012) Full Article
Egypt's new Defense Minister has pledged his commitment to the country's long-standing military ties with the United States, U.S. Defense Secretary Leon E. Panetta claimed at a press briefing at the Pentagon on Tuesday. (Aug 15, 2012) Full Article
South Korean President Lee Myung-bak on Wednesday urged Japan to take sincere steps to resolve the long-standing grievances over Tokyo's wartime sexual enslavement of Korean women, saying the act was a violation of "universal human rights and historic justice." (Aug 15, 2012) Full Article
Australia's Lower House of Parliament on Wednesday voted for a legislation that re-opens offshore centers set up in the remote Pacific island state of Nauru and Papua New Guinea for processing asylum claims. (Aug 15, 2012) Full Article
Currency Alerts
The Australian and New Zealand dollars edged lower against their key counterparts on Wednesday morning in Asia as traders fled from risk-associated assets on global growth concerns. (Aug 15, 2012) Full Article
The pound erased some of its Asian session losses against other major currencies in early London/European deals Wednesday (Aug 15, 2012) Full Article
The euro slipped against most major currencies in the European session on Wednesday on reports that Greece wants two-year extension for its austerity measures and Spain may request for a bailout. (Aug 15, 2012) Full Article
General News
Australia's top court on Wednesday upheld a controversial law that makes it mandatory for tobacco companies to have plain packaging for cigarettes intended for sale in the country, dismissing a challenge from international cigarette companies. (Aug 15, 2012) Full Article
Hundreds of Greek Orthodox Christians gathered for the annual religious service at the Sümela Monastery in Turkey's Black Sea coastal province of Trabzon on Wednesday morning, marking the third religious ceremony to be held at the monastery in the history of the Turkish Republic. (Aug 15, 2012) Full Article
Three people were injured when a bomb exploded in a Syrian military compound near a hotel used by the U.N. observer mission in capital Damascus on Wednesday. (Aug 15, 2012) Full Article
At least five people have been killed and nine others wounded after a unit of Yemen's Republican Guards loyal to the son of the country's ousted President Ali Abdullah Saleh attacked the headquarters of the Defense Ministry in capital Sanaa on Tuesday, according to local media reports. (Aug 15, 2012) Full Article
In a goodwill gesture on the occasion of India's Independence Day, Pakistan has freed 55 Indian fishermen from a jail in the southern port city of Karachi. (Aug 15, 2012) Full Article
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