Economic News August 7, 2012
Sri Lanka's central bank on Tuesday decided to leave its key policy rates unchanged, saying an increase in inflation was due to adverse weather conditions and resulting disruptions to domestic food supplies. (Aug 7, 2012) Full Article
Switzerland's consumer prices continued to decline in July, but at a slower than expected pace, the Federal Statistical Office said Tuesday. (Aug 7, 2012) Full Article
Japan's Finance Minister Jun Azumi said Tuesday that the government will extend its dollar-loan program by six months through March 2013 in an attempt to deal with the strong currency. (Aug 7, 2012) Full Article
Sweden's central government payments showed a shortfall of SEK 2.2 billion in July, the Swedish National Debt Office said Tuesday. The deficit was line with the government forecast of SEK 2.3 billion. (Aug 7, 2012) Full Article
CRISIL on Tuesday downgraded India's growth outlook citing deficient rainfall and worsening Eurozone growth outlook. (Aug 7, 2012) Full Article
Forex Top Story
Retail sales in the United Kingdom rose unexpectedly in July as warm weather and Olympics boosted sales of food and drinks, a report from the British Retail Consortium (BRC) revealed Tuesday. (Aug 7, 2012) Full Article
The Reserve Bank of Australia decided to retain its benchmark cash rate unchanged at 3.5 percent for a second consecutive rate-setting meeting on Tuesday, saying it is too early to see the full impact of past policy easing. (Aug 7, 2012) Full Article
Taiwan's merchandise exports decreased for the seventh successive month in July as the global economic slowdown and debt worries in Europe continued to weigh on demand. (Aug 7, 2012) Full Article
Production in the British industrial sector shrank notably in June mainly due to extra holidays for the Queen's Diamond Jubilee celebrations, the latest figures from the Office for National Statistics showed Tuesday. (Aug 7, 2012) Full Article
The Italian economy remained stuck in recession in the second quarter as austerity measures weighed heavily on economic activity. (Aug 7, 2012) Full Article
German factory orders declined more-than-expected in June as both domestic and foreign demand deteriorated, raising fears that the economy shrunk in the second quarter. (Aug 7, 2012) Full Article
Political News
The defections of the Syrian Prime Minister and other top government officials in recent days show that the discredited regime of President Bashar al-Assad is "crumbling from within," the U.S. said late on Monday. (Aug
Japan and China have agreed to launch 47 projects including the creation of a "smart city" as part of cooperation in promoting environment-friendly and power-saving projects in the context of China's increased energy needs. (Aug 7, 2012) Full Article
India's new Finance Minister Palaniappan Chidambaram has announced measures aimed at attracting foreign investments and allaying investor fears, including a review of the retrospective tax laws proposed in the 2012 Budget and easing the country's high interest rates. (Aug 7, 2012) Full Article
The top U.N. political envoy to Somalia has urged all concerned parties in the Horn of Africa nation to ensure that the country's political transition process is completed before a U.N.-set deadline expires in two weeks time. (Aug 7, 2012) Full Article
Russian prosecutors on Tuesday sought three years' prison for each of the three members of the feminist punk band Pussy Riot for singing a song derogatory to President Vladimir Putin at Moscow's main cathedral five months ago. (Aug 7, 2012) Full Article
Currency Alerts
The Australian dollar that recovered its early Tuesday Asian session's losses ahead of the Reserve Bank of Australia's meeting has extended its rally after the central bank announced its decision to retain benchmark cash rate unchanged at 3.5 percent. (Aug 7, 2012) Full Article
The yen slipped against other major currencies in early European deals on Tuesday as investors await the outcome of Bank of Japan's policy meeting that starts tomorrow. (Aug 7, 2012) Full Article
The pound gained ground on Tuesday following a report showed that the rate of the U.K. industrial production decline was weaker than forecast by economists. (Aug 7, 2012) Full Article
General News
Tuesday, the 11th day of the ongoing London 2012, promises to be another day of excitement as the 21 gold medals up for grabs through the day are expected to have a significant impact on the final medal table. (Aug 7, 2012) Full Article
The Human Rights Watch (HRW) has called on Texan authorities not to execute a man who has significant intellectual disabilities. (Aug 7, 2012) Full Article
At least 15 people have been killed and several others injured after unidentified gunmen opened fire on worshipers inside an evangelical church in central Nigeria, media reports citing local officials said late on Monday. (Aug 7, 2012) Full Article
NATO Secretary-General Anders Fogh Rasmussen has appointed Dutch Diplomat Maurits R. Jochems as the next NATO Senior Civilian Representative (SCR) in Afghanistan. (Aug 7, 2012) Full Article
The European Commission on Tuesday confirmed that it would provide an additional funding package to help the Yemeni people and the transitional government respond to the country's multiple governance challenges and address some of the grievances which led to protests that swept the Arab world in 2011. (Aug 7, 2012) Full Article
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