Economic News September 25, 2012
Italy saw its two-year borrowing costs decline at an auction on Tuesday. The Italian Treasury raised EUR 3.937 billion from the sale of its zero coupon bonds known as CTZ, which was close to the top target of EUR 4 billion set for the sale. The bond will mature in September 2014. (Sep 25, 2012) Full Article
European Court Of Justice may soon be engaged to clarify the doubts regarding the legality of the European Central Bank's recently announced bond-purchase program, Germany's Bild reported on Tuesday. (Sep 25, 2012) Full Article
The Funding for Lending Scheme was designed to support the economy and not the banks, Bank of England policymaker Paul Fisher said Tuesday. (Sep 25, 2012) Full Article
Spanish short-term borrowing costs increased at a debt auction on Tuesday as it remains uncertain if the embattled country would seek a bailout for its economy. The Spanish Treasury raised nearly EUR 4 billion from the sale of its 3 and 6 month bills. The target set for the sale was between EUR 3 billion and EUR 4 billion. (Sep 25, 2012) Full Article
Hungary's central bank slashed interest rates for the second consecutive month as expected, on Tuesday. The Monetary Council of the Magyar Nemzeti Bank cut the two week MNB bill rate by 25 basis points to 6.50 percent. The decision was in line with economists' expectations. (Sep 25, 2012) Full Article
Forex Top Story
The International Monetary Fund continues to forecast a gradual recovery for the global economy, but the pace of growth is likely to be weaker than projected earlier, weighed down by risks and policy uncertainty, IMF Managing Director Christine Lagarde said Monday. (Sep 25, 2012) Full Article
The South Korea government proposed higher spending in its 2013 budget proposal to mitigate the impact of global slowdown and delayed further its target of balancing budget to 2014. (Sep 25, 2012) Full Article
A leading indicator for China's economic activity rose at the fastest pace in seven months in August, raising hopes of a moderate rebound in growth that slowed to a three-year low in the second quarter. (Sep 25, 2012) Full Article
Germany's consumer confidence is set to remain unchanged in October, survey results from market research group GfK showed Tuesday, which slightly eased fears of the economy slipping into a recession. (Sep 25, 2012) Full Article
Political News
The Western world has denounced the parliamentary elections in Belarus as one that lacked international standards, freedom or fairness. (Sep 25, 2012) Full Article
The United States said that it was saddened and outraged by the murder of Honduran attorney and human rights defender Antonio Trejo Cabrera, and urged the Honduran government to conduct a full and transparent investigation into his death immediately. (Sep 25, 2012) Full Article
Iranian President Mahmoud Ahmadinejad has called for a total structural overhaul of the United Nations Security Council (UNSC) in order to facilitate the observance of the rule of law in international interactions. (Sep 25, 2012) Full Article
An armada of 40 Taiwanese fishing boats entered what Japan claims its territorial waters around the disputed Senkaku islands in the East China Sea on Tuesday, and left the region after Japanese Coast Guard patrol vessels fired water cannons at them when they ignored repeated warning to clear the area. (Sep 25, 2012) Full Article
Currency Alerts
The NZ dollar edged up against its major opponents in the Asian session on Tuesday amid a gain in regional stocks. (Sep 25, 2012) Full Article
The euro showed mixed performance against its major rivals in early deals on Tuesday. (Sep 25, 2012) Full Article
The Canadian dollar edged higher in early New York deals Tuesday following a report showed that the nation's retail sales in July rose well-above last month's reading. Canada's retail sales rose 0.7 percent to C$39.0 billion in July, led by higher sales at motor vehicle and parts dealers, and general merchandise stores, statistics Canada said in a report today. (Sep 25, 2012) Full Article
General News
As many as 35 federal police officers have been arrested in Mexico for suspected links with one of the country's most powerful drug cartels, the Zetas. (Sep 25, 2012) Full Article
The United States said that it was saddened and outraged by the murder of Honduran attorney and human rights defender Antonio Trejo Cabrera, and urged the Honduran government to conduct a full and transparent investigation into his death immediately. (Sep 25, 2012) Full Article
The United Nation's Broadband Commission for Digital Development has released its first-ever country-by-country snapshot of the state of broadband deployment worldwide. (Sep 25, 2012) Full Article
Twenty people were killed after two carriages taking mine workers back to the ground crashed in an illegally-run coal mine in China's north-west Gansu province early on Tuesday, state media reported. (Sep 25, 2012) Full Article
Amnesty International and Greenpeace Netherlands have demanded that the British government open a criminal investigation into the dumping of toxic waste by the multinational company (MNC) Trafigura in Ivory Coast in 2006, which resulted in over 100,000 people seeking medical assistance. (Sep 25, 2012) Full Article
A refurbished Soviet-era aircraft carrier was commissioned as China's first aircraft carrier on Tuesday. (Sep 25, 2012) Full Article
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