Economic News August 30, 2012
South Korean manufacturers' outlook on business conditions for September improved after easing for three consecutive months. (Aug 30, 2012) Full Article
Poland's economic growth slowed for the second straight quarter and at a faster-than-expected pace, preliminary data from the statistical office indicated Thursday. Gross domestic product grew a non-seasonally adjusted 2.4 percent year-on-year, following 3.5 percent expansion in the first quarter. Economists had forecast 2.9 percent growth. The latest pace of growth is the weakest in more than two years. (Aug 30, 2012) Full Article
Approvals of loans for house purchase in the United Kingdom rose in line with expectations in July, data released by the Bank of England showed Thursday. Mortgage approvals for house purchases rose to 47,312 from a revised 44,124 in June. Economists had forecast a figure of 47,000. The increase came after a steep decline in the previous month. (Aug 30, 2012) Full Article
Portugal's consumer confidence improved for the seventh consecutive month in August to its highest level in a year, data from Statistics Portugal revealed Thursday. The consumer confidence index rose to -49.2 from July's -50.4. The latest reading is the best since August last year, when the score was -49.1. (Aug 30, 2012) Full Article
Initial claims for U.S. unemployment benefits unexpectedly came in unchanged in the week ended August 25th, according to a report released by the Labor Department on Thursday. (Aug 30, 2012) Full Article
Forex Top Story
Australia's business investment expanded more than expected in the second quarter as investment growth in mining offset declines in the manufacturing and other sectors. (Aug 30, 2012) Full Article
Philippine economic growth eased in the second quarter, but at a slower than expected pace, as spending and exports underpinned activity. (Aug 30, 2012) Full Article
German unemployment increased for the fifth month in August as firms shed jobs fearing a recession in the 17-nation currency bloc. (Aug 30, 2012) Full Article
Italy had a successful auction on Thursday as it sold its five- and 10-year debt at lower yields as investors remained hopeful that the European Central Bank may resume its bond-buying to help lower the borrowing costs of troubled euro area countries. The Italian Treasury raised a total EUR 7.29 billion from today's auction, close to the maximum target set for the sale. The latest auction follows two successful sales yesterday and the day before. (Aug 30, 2012) Full Article
Eurozone economic sentiment deteriorated further in August reflecting the sharp weaknesses in confidence among consumers, retailers and construction managers due to concerns over recession and the lingering sovereign debt crisis. (Aug 30, 2012) Full Article
Commodities
Gold was extending losses for a third session Thursday morning as hopes for further quantitative stimulus measures from the world's largest economy weakened following the recent batch of encouraging economic data from the U.S. (Aug 30, 2012) Full Article
The price of crude oil was little changed Thursday morning as the U.S. dollar was trading mixed ahead of a key central bankers' meeting at the weekend. (Aug 30, 2012) Full Article
Political News
The Governor of Japan's Fukushima prefecture has called upon German firms specializing in renewable energy to invest in his tsunami-devastated prefecture. (Aug 30, 2012) Full Article
Japan has urged North Korea to address its abductions of Japanese citizens during World War II in future governmental talks. (Aug 30, 2012) Full Article
Egypt's Mubarak-era last Prime Minister Ahmed Shafiq will be detained for questioning over an alleged corruption case on his return from abroad, said an investigating judge on Wednesday. (Aug 30, 2012) Full Article
Japan plans to take up with the International Court of Justice (ICJ) unilaterally its territorial dispute with South Korea after the latter rejected a joint move on the issue. (Aug 30, 2012) Full Article
A meeting of officials of Asia-Pacific economies agreed on Thursday to try to conclude a pact in 2015 to set up a free trade zone. (Aug 30, 2012) Full Article
Currency Alerts
The Australian dollar slipped against other major currencies in the early Asian session on Thursday as regional stocks declined. (Aug 30, 2012) Full Article
The US dollar was trading mostly lower in early deals Thursday (Aug 30, 2012) Full Article
The pound erased much of its Asian session losses against other major currencies (Aug 30, 2012) Full Article
General News
Three Australian soldiers were killed and two others injured when a man in an Afghan Army uniform opened fire on them on Wednesday night in the latest of "insider attack" in the war-torn country. (Aug 30, 2012) Full Article
A gas explosion at a coal mine in south-west China on Wednesday killed 19 people and left 28 trapped underground, state media reported. (Aug 30, 2012) Full Article
Strong winds accompanied by heavy rains were expected to lash South Korea as Typhoon Tembin neared the southern island of Jeju on Thursday morning, the state weather agency said. (Aug 30, 2012) Full Article
China on Thursday signed a deal with Airbus to buy 50 A320 aircraft worth $3.5 billion from the European manufacturer. (Aug 30, 2012) Full Article
A French musician played a violin made of tsunami de
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