Browsing articles in "Global Economy"
Jul
5
2012

ECB rate cut seen as a recent relief:

ECB rate cut

The European Central Bank (ECB) cut it’s benchmark interest rates to an all time low at 0.75% from the earlier level of 1.00% . This rate cut of 25 basis points is done as a measure to boost liquidity in the markets. Even the overnight deposit rate has been brought down at zero percent. The ECB president Mario Draghi made the interest rate changes to bring an effective liquidity in the Eurozone’s banking system in […]

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May
24
2012

Worsening PMI data for China:

HSBC PMI data

The HSBC flash PMI (Purchasing Managers Index) data for the month of May dropped to 48.7 from 49.3 level in April marking a contraction in the world’s second largest economy. The PMI data dropped due to contracting exports and new orders. This is seventh month in a row for contracting economic numbers for the Chinese economy. The PMI data below 50 indicates a contraction, whereas data above 50 indicates a growing economy. The HSBC PMI […]

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May
7
2012

France encounters a change of power:

Francois Hollande

For the first time since 1980’s a socialist has won the presidential elections of France. Francois Hollande has been voted by 51.9% French people to head them and drive them off the economic turmoil. Mr. Hollande has been declared as the President on 6th May 2012 by defeating Nicolas Sarkozy. The people have voted down Sarkozy due to his inability to cope-up with the economic problems and to put France on a growth track. People […]

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Apr
27
2012

Spain’s credit rating downgraded by S&P:

S&P credit rating

Standard and Poor’s has downgraded the credit rating of Spain – the fourth largest economy of Eurozone, by one notch second time in a row. The earlier “A” rating enjoyed by Spain was cut down to“BBB+” by S&P for the second time owing to economic concerns. Spain’s economy has been contracting since last few months and the banking system has become one of the weakest section of it. The banks have gone cash stripped and […]

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Apr
19
2012

Jim Yong Kim elected as World Bank President:

World Bank

Jim Yong Kim, who hails from Korea has been finally elected on Monday (16th April 2012) to succeed Robert Zoellick as the next World Bank president. Kim is an active educator and an anthropologist working to elevate the health conditions of the poor in developing countries. Kim was nominated by the American president Barack Obama and was considered as the strongest contender since nomination. Kim will start his duties from July 1 after Zoellick steps down […]

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Apr
18
2012

Warren Buffett an iconic investor detected with cancer:

Warren Buffett

Warren Buffett, the CEO of Berkshire Hathaway and a legendary investor who sets the direction for the markets for trade, has been detected with prostate cancer but thankfully in stage 1. He has been detected with a completely curable cancer for which the treatment would be started from mid of July. Buffett has written a letter to all his shareholders on this disease detection and about his treatment to be done.  As stands the condition […]

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Apr
15
2012

China’s weak quartely results – impact on Indian economy:

chinese stock markets

The first quarter data for FY12 for China poses such bad numbers that it affected the US markets badly on Friday(13th April 2012) trading. As stands the most accepted myth of ‘Friday the 13th'; the impact was clearly seen on world markets. The Chinese GDP grew at 8.1% for the first quarter, which is slowest year-on-year (y-o-y) since Q1 of FY2009. Even though the consumption grew for the economy at 76% but weak investments and […]

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Mar
28
2012

Nigerian Finance Minister nominated to succeed Robert Zollieck:

Ngozi Okonjo-Iweala World Bank President Nominee

The Nigerian Finance Minister has been nominated for the President of World Bank as Robert Zollieck is completing his tenure in July this year. This is the first time that several candidates are being nominated for heading the World Bank. Since inception only Americans have held this position  But nominations have been done after an agreement by leaders of G20 group of nations in 2009. Ngozi Okonjo-Iweala, 57 has been nominated on Friday by the African power […]

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Mar
27
2012

Ben Bernanke led U.S. markets to reach high:

Ben Bernanke

The Federal Reserve Chairman Ben Bernanke drove the U.S. markets to gain on Monday trading session. While addressing National Association for Business Economics, Bernanke told that the unemployment rate has eased down to 8.3% from it’s previous figures of 9.1% but still there is room for further downside and U.S. would follow easy monetary policy for the move. He told that unemployment rate has eased since the recession of 2008 but still some more hiring […]

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Mar
25
2012

Obama nominates Jim Yong Kim for World Bank President:

World Bank

Obama on Friday nominated Jim Yong Kim to be the next World Bank President, the successor for Robert Zoellick. Robert Zoellick will step down in June with his term getting over. Jim Yong Kim is a Dartmouth College President, a 1991 graduate of Harvard Medical School. He is a doctor, educator and an anthropologist. He has been working for the developmental work for more than two decades. He has been working in the field of HIV/AIDS. […]

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