Economic News August 22, 2012
Standard & Poor's on Wednesday said China's government has significant capacity to support economic growth, if needed. (Aug 22, 2012) Full Article
Bank of England policymaker Adam Posen on Wednesday indicated that the Bank of England should do more to stimulate growth in the economy, which saw deeper contraction in national output in the second quarter of 2012. (Aug 22, 2012) Full Article
South Africa's annual inflation weakened faster than expected and hit a fourteen-month low in in July, adding to speculation that the central bank may reduce interest rates further to support economic growth. (Aug 22, 2012) Full Article
Germany saw weaker demand for its two-year debt at an auction on Wednesday than what was witnessed in a sale last month, as investors remained hopeful that Eurozone leaders would find a solution to the debt crisis. The country sold EUR 4.08 billion of zero coupon Treasury notes due 2014 against a target of EUR 5 billion, the Bundesbank said. The bids totaled EUR 6.238 billion. The sale of a similar maturity security on July 18 drew EUR 8.354 billion bids. (Aug 22, 2012) Full Article
Egypt's President Mohammed Morsi formally requested a $4.8 billion loan from the International Monetary Fund, when he met the IMF chief Christine Lagarde, presidential spokesman Yasser Ali reportedly said Wednesday. (Aug 22, 2012) Full Article
Forex Top Story
Japan posted a merchandise trade deficit of 517.382 billion yen in July, the Ministry of Finance said on Wednesday - sinking into the red for the eighth time in 10 months. (Aug 22, 2012) Full Article
Greece needs more time to implement the reforms and spending cuts requisitioned by the country's international creditors, Prime Minister Antonis Samaras told German daily Bild, ahead of his crucial meeting with Eurozone leaders. (Aug 22, 2012) Full Article
A leading indicator of Australia's economic activity rose at the fastest pace in almost a year in June, suggesting a moderate but improved economic growth in the second half of 2012 and into 2013, a survey by Westpac Institutional Bank and Melbourne Institute showed Wednesday. (Aug 22, 2012) Full Article
Iceland's central bank decided to keep key policy rates on hold as previous rate hikes helped to bring inflation down. (Aug 22, 2012) Full Article
Commodities
The price of gold was firm near its three-month high Wednesday morning amid hopes that the European Central Bank will take steps to reduce borrowing costs for Spain and Italy. (Aug 22, 2012) Full Article
The price of crude oil was ticking lower Wednesday morning as traders await cues from the official inventories data from the EIA, due out later today. (Aug 22, 2012) Full Article
Political News
The visiting Pentagon chief has said that the United States is frustrated by delays in the foreign military sales program to equip the Iraqi security forces. (Aug 22, 2012) Full Article
After nearly two decades of accession process, Russia on Wednesday became the 156th member of the World Trade Organization (WTO). (Aug 22, 2012) Full Article
Anti-nuclear protesters on Wednesday urged Prime Minister Yoshihiko Noda to scrap all of Japan's nuclear plants and free the country from depending on nuclear power. (Aug 22, 2012) Full Article
The European Union has repeatedly urged the Israeli government to immediately end all settlement activities in the West Bank, including East Jerusalem. (Aug 22, 2012) Full Article
The European Union has welcomed Russia's accession to the World Trade Organization (WTO), and described it as "a major step for Russia's further integration into the world economy." (Aug 22, 2012) Full Article
Currency Alerts
The Australian and New Zealand dollars edged lower against their major rivals on Wednesday in Asia as traders sold off high-yielding currencies ahead of some key risk-events. (Aug 22, 2012) Full Article
The dollar was mildly weaker against most major currencies in early deals Wednesday ahead of the minutes of the Federal Reserve's July 31st-August 1st meeting, which is due for release later in the New York session. (Aug 22, 2012) Full Article
The Canadian dollar slipped against other major currencies in European trading on Wednesday following a decline in oil prices. (Aug 22, 2012) Full Article
General News
Amnesty International has called on the Pakistan government to urgently reform its blasphemy laws and ensure the safety of Ramsha Masih, a disabled Christian girl arrested by police for allegedly committing an act of blasphemy. (Aug 22, 2012) Full Article
The United Nations Working Group on discrimination against women in law and in practice called on the new Tunisian government to take all necessary steps to safeguard the country's achievements on equality, non-discrimination and women's human rights in accordance with its international human rights obligations. (Aug 22, 2012) Full Article
A comprehensive range of labor standards for the world's 1.2 million merchant sailors, covering decent working conditions and health and safety issues, is now set to go into effect following its final two required ratifications, the International Labor Organization (ILO) announced on Tuesday. (Aug 22, 2012) Full Article
A 40-member panel of Japanese nuclear scientists was constituted on Tuesday to investigate last year's accident at the Fukushima-Daiichi nuclear power plant that forced the evacuation of thousands of residents in a 20-kilometer radius of the plant operated by the Tokyo Electric Power Company (TEPCO). (Aug 22, 2012) Full Article
Japanese business people expect that Russia's WTO entry will give them an opportunity to boost their car exports and investment in that country. (Aug 22, 2012) Full Article
Stocks To Watch
This multilevel marketing company hops on our radar, after boosting annual financial guidance on better-than-expected quarterly results. (Aug 22, 2012) Full Article
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