Economic News August 17, 2012
Finland is preparing measures to face any kind of eventuality in the face of a breakup of the euro currency-bloc, the country's Foreign Minister Erkki Tuomioja told the British newspaper The Daily Telegraph. (Aug 17, 2012) Full Article
The Taiwanese economy contracted at a slightly faster rate than initially estimated, marking the first decline in more than two years, final figures from the Directorate General of Budget, Accounting & Statistics (DGBAS) showed Friday. (Aug 17, 2012) Full Article
Eurozone current account surplus increased in June, data published by the European Central Bank showed Friday. (Aug 17, 2012) Full Article
The European Commission wants the European Central Bank to act as the supervisor for all major banks in the euro area, German business daily Handelsblatt reported Friday. (Aug 17, 2012) Full Article
Spanish banks' bad loans reached the highest on record in June, the Bank of Spain reported Friday. (Aug 17, 2012) Full Article
Forex Top Story
Prices received by New Zealand producers rebounded in the June quarter amid a surge in electricity costs, data from Statistics New Zealand showed Friday. (Aug 17, 2012) Full Article
Singapore's export growth increased more than expected in July, driven largely by demand from Asian countries, data released by International Enterprise Singapore showed Friday. (Aug 17, 2012) Full Article
German producer price inflation eased to its lowest level in more than two years in July amid a fall in production costs for electricity and intermediate goods, a report from the Federal Statistical Office showed Friday. (Aug 17, 2012) Full Article
Japan's government expects the nominal economic growth to exceed real expansion in fiscal 2013 for the first time since 1997 and also sees an end to deflation in the economy. (Aug 17, 2012) Full Article
Eurozone foreign trade surplus increased more than expected in June led by robust growth in shipments, the latest figures published by Eurostat showed Friday. (Aug 17, 2012) Full Article
Commodities
The price of gold was little changed Friday morning as the U.S. dollar was trading mixed, with the euro turning strong following comments from German Chancellor Angela Merkel that the European Central Bank's approach to defend the euro is in line with the ideology of the politicians in the region. (Aug 17, 2012) Full Article
The price of crude oil was hovering near its three-month high Friday morning, with possible tensions in Middle-East supporting prices. (Aug 17, 2012) Full Article
Political News
Ecuador has granted political Asylum to WikiLeaks' founder Julian Assange, nearly two months after the Australian took refuge in the South American nation's Embassy in London while fighting extradition from Britain to Sweden to face charges of sexual misconduct. (Aug 17, 2012) Full Article
The U.N. Security Council (UNSC) has decided to terminate its observer mission in Syria when its mandate expires on Sunday and to replace it with a small liaison office for supporting ongoing efforts to find a political solution to the Syrian crisis, it was announced on Thursday. (Aug 17, 2012) Full Article
The verdict in the trial of Gu Kailai, wife of disgraced senior Chinese Communist Party leader Bo Xilai, over her alleged involvement in the murder of British businessman Neil Heywood is set to be announced on Monday, media reports citing Chinese court officials said on Friday. (Aug 17, 2012) Full Article
Japan has urged South Korea to join with it in taking their territorial dispute over islands in the Sea of Japan to the International Court of Justice (ICJ) at The Hague. (Aug 17, 2012) Full Article
The European Union on Thursday voiced concern over the three-year prison term given to Bahraini rights activist Nabeel Rajab for taking part in unauthorized protests in the Middle East nation, and expressed hopes that his case would be reconsidered on appeal. (Aug 17, 2012) Full Article
Currency Alerts
The Australian dollar declined against other major currencies in Asian trading on Friday after the Australian Treasury dismissed calls for the currency intervention. (Aug 17, 2012) Full Article
General News
At least 12 people were killed and several injured when police opened fire to disperse rival miners who clashed at the Marikana platinum mine in South Africa's North West province on Thursday. (Aug 17, 2012) Full Article
Peru's military said on Thursday that five of its soldiers were killed after their patrol was ambushed by Shining Path rebels in the country's central region. (Aug 17, 2012) Full Article
An economic conference between South Sudan and major international donors and financial institutions agreed to work together to help the north-east African country address short term financial issues as it prepares to resume oil production. (Aug 17, 2012) Full Article
Norway's national police commissioner Oystein Maeland resigned from his post on Thursday after an independent commission suggested in a report released three days ago that last year's deadly twin attacks by right-wing extremist Anders Behring Breivik could have been averted had the police acted faster. (Aug 17, 2012) Full Article
The Commander of the NATO-led International Security Assistance Force (ISAF) in Afghanistan has strongly condemned Taliban leader Mullah Omar's Eid ul-Fitr Message, calling it "an unmistakable message of death, hate and hopelessness for the Afghan people." (Aug 17, 2012) Full Article
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