The Federal Reserve chairman, Ben S. Bernanke, has warned against complacency over the growing federal deficit. Speaking on the recent positive trends in the economy he said that it is just ‘calm before the storm’. He further indicated that threatening deficits in Social Security and Med[...]
Archive for June, 2012
June 30th, 2012 - 11:04 am § in News Of Economy
US Congress votes to withdraw Tax Breaks for oil companies
Democrat controlled U.S. Congress has finally passed legislation that would withdraw $14 billion in tax breaks and subsidies given to oil drillers. The money will now be used to develop alternative energy projects and conservation technologies. However, the Bush administration has criticized the bil[...]
June 30th, 2012 - 11:04 am § in News Of Economy
WTO Chief launches fresh efforts to revive Doha round, U.S. still unhurried in trade talks
The U.S. and European Union may soften their stance on agricultural subsidy if India agrees to make concessions, said Pascal Lamy, Director General of the WTO. Pascal Lamy has recently held high level talks with Indian establishment with a view to push the stalled Doha round of global trade talks. T[...]
June 29th, 2012 - 11:03 am § in News Of Economy
Asian stocks rise records first weekly gain
Asian stocks posted their first weekly gain of the year amid investor expectations profits at companies in the region will outperform global peers. The Morgan Stanley Capital International Asia Pacific Index added 1.1 percent this week to 140.27, ending a two-week, 1.3 percent slide. Japan’s N[...]
June 29th, 2012 - 11:03 am § in News Of Economy
UK economy to witness robust growth
A recent report has suggested that the UK economy is moving ahead to mark a robust growth this year, motivated by the thriving financial sector and constantly increasing business investment. The report was prepared by the Ernst & Young ITEM Club that has used Treasury’s own model of the ec[...]
June 29th, 2012 - 11:02 am § in News Of Economy
US financial sector loosing its shine, says report
The U.S. financial sector is losing its edge as the leading financial center says a report prepared by Senator Charles E. Schumer and Mayor Michael R. Bloomberg. The report has suggested undertaking a series of measures to improve its legal and regulatory mechanism. The report warned that if measure[...]
June 28th, 2012 - 11:02 am § in News Of Economy
Merkel hopes for smooth energy deliveries
German Chancellor Angela Merkel stressed to build up favorable atmosphere, and urged Russia to improve communications with the EU following the latest crisis over energy supplies. In the new year Moscow stopped pumping oil along a pipeline through Belarus accused Minsk of stealing oil, a move that, [...]
June 28th, 2012 - 11:01 am § in News Of Economy
China plans to consolidate coal industry
China, world’s biggest producer of coal, plans to consolidate fragmented coal industry for producing good quality coal and to improve technology and safety in the notoriously perilous industry. The country’s planning agency issue a five-year blueprint for the industry said; The key missi[...]
June 28th, 2012 - 11:01 am § in News Of Economy
EU laws likely to hurt online trade and small businesses
The proposed European Union laws on cross-border trade are expected to inflict significant damage on online sales and it may cause legal chaos. UK business sphere in particular are very much concerned of this development. For some smaller companies that rely on internet sales, the laws will make it [...]
June 27th, 2012 - 11:00 am § in News Of Economy
Asian economies raise concern over currency risk due to surging capital inflows
Asian central bankers have raised a deep concern over threatening impact of surging capital inflows and volatile currencies in the region. Toshiko Fukui, governor Bank of Japan, has said keeping foreign exchange rates stable would be on of the most challenging tasks for financial and monetary author[...]