euro zone

German apex court ruling on EU debt will benefit India, says envoy


September 12th, 2012 - 10:47 pm ICT by IANS
New Delhi, Sep 12 (IANS) Germany's apex court judgment upholding European Central Bank's decision to buy unlimited sovereign bonds of euro zone countries under financial stress will also benefit India, ... Read more...

Posted in Business |

Russia prepared for second global crisis: Putin


September 7th, 2012 - 9:03 am ICT by IANS
Moscow, Sep 7 (IANS/RIA Novosti) Russia is better prepared for a second global financial crisis, President Vladimir Putin has said."I believe we are even better prepared because we've already experienced ... Read more...

Posted in World |

Spanish banks’ bad-loans ratio hits new record


August 18th, 2012 - 1:10 pm ICT by IANS
Madrid, Aug 18 (IANS/EFE) The ratio of non-performing loans to total outstanding loans held by Spanish banks has risen to a record 9.42 percent, topping the previous mark of 9.15 ... Read more...

Posted in Uncategorized |

South Korean economy shows weaker growth momentum


August 9th, 2012 - 1:44 pm ICT by IANS
Seoul, Aug 9 (IANS) The South Korean economy has seen a weakening growth momentum due to lacklustre exports and domestic demand, the central bank said Thursday."The domestic economy showed weaker ... Read more...

Posted in Business |

Spain told to take decisive actions to cope with crisis


July 28th, 2012 - 1:30 pm ICT by IANS
Washington, July 28 (IANS) The International Monetary Fund (IMF) has said that Spain needs to take "decisive actions" to tackle economic challenges and restore market confidence."The economy has entered an ... Read more...

Posted in Business |

EC approves Spanish bank recapitalization programme


July 26th, 2012 - 11:28 am ICT by IANS
Brussels, July 26 (IANS/EFE) The European Commission said Wednesday it has approved a Spanish programme to recapitalize its banks through the end of 2012."The recapitalization scheme is the first stepping ... Read more...

Posted in Business |

Moody’s downgrades Eurozone bailout fund credit outlook


July 25th, 2012 - 1:17 pm ICT by IANS
New York, July 25 (IANS) Moody's Investors Service has cut the outlook for the credit rating of the European Financial Stability Facility (EFSF) to negative from stable, warning that the ... Read more...

Posted in Business |

Spain to trim another $80 bn with new austerity measures


July 12th, 2012 - 12:41 pm ICT by IANS
Madrid, July 12 (IANS/EFE) Spanish Prime Minister Mariano Rajoy announced Wednesday the fourth austerity package of his seven-month-old administration, a move aimed at achieving 65 billion euros ($80 billion) in ... Read more...

Posted in Business |

Finland expects tough loan collateral talks with Spain


July 6th, 2012 - 12:07 pm ICT by IANS
Berlin, July 6 (IANS/EFE) Finland's finance minister said she expects "long and difficult" talks with Spain on the collateral to be offered to the Nordic country in exchange for aid ... Read more...

Posted in Business |

Greek PM to miss EU summit for eye surgery


June 24th, 2012 - 8:18 pm ICT by IANS
Athens, June 24 (IANS) Greek Prime Minister Antonis Samaras will not attend the June 28 EU summit in Brussels as doctors have advised him to rest following eye surgery.Samaras underwent ... Read more...

Posted in Politics |

Wall Street rises on monetary easing hopes


June 20th, 2012 - 7:57 am ICT by IANS
New York, June 20 (IANS) US stocks closed higher Tuesday as investors' expectations of further monetary easing policy by the Federal Reserve boosted the market, while positive news from Europe ... Read more...

Posted in Business |

New Democracy party leads in Greek polls


June 18th, 2012 - 3:32 am ICT by IANS
Athens, June 18 (IANS/RIA Novosti) The conservative New Democracy party is leading at the pivotal parliamentary elections in Greece, the interior ministry said Sunday.Greece's two largest pro-bailout parties, New Democracy ... Read more...

Posted in Uncategorized |

US stocks retreat after short relief rally


June 12th, 2012 - 1:19 am ICT by IANS
New York, June 11 (IANS) US stocks retreated after a short rally Monday as enthusiasm on the Spanish bank aid package faded.Spain will be lent up to 100 billion euros ... Read more...

Posted in Business |

Eurozone agrees to bail out Spanish banks


June 10th, 2012 - 7:53 am ICT by IANS
Moscow/Madrid, June 10 (IANS/RIA Novosti) Eurozone finance ministers have agreed to lend Spain up to 100 billion euros ($125 billion) to bail out its troubled banks as Madrid officially stated ... Read more...

Posted in Business |

Japan’s current account surplus drops


June 8th, 2012 - 12:59 pm ICT by IANS
Tokyo, June 8 (IANS) Japanese government said Friday that the nation's current account surplus declined 21.2 percent in April from a year earlier to 333.8 billion yen (about $4.2 billion). ... Read more...

Posted in Business |

Oil tumbles on weak US jobs report


June 2nd, 2012 - 4:51 am ICT by IANS
New York, June 2 (IANS) Crude prices tumbled Friday as weak US jobs report for May, weak manufacturing data from China, and a spiralling euro zone debt crisis deepened worries ... Read more...

Posted in Business |

US stocks open mixed


May 25th, 2012 - 12:41 am ICT by IANS
New York, May 24 (IANS) US stocks opened mixed Thursday on mixed economic reports and ongoing euro zone concerns.On the economic front, orders for durable goods increased a slight 0.2 ... Read more...

Posted in Business |

Fitch cuts Greece’s rating


May 18th, 2012 - 1:49 pm ICT by IANS
London, May 18 (IANS) International ratings agency Fitch has announced cutting Greece's credit rating from B- to CCC, citing the "heightened risk" that Greece could leave the euro zone.Recent Greek ... Read more...

Posted in Business |

Wall Street extends loss


May 18th, 2012 - 5:52 am ICT by IANS
New York, May 18 (IANS) Wall Street extended losses Thursday, with the Dow Jones industrial average suffering its 11th loss in last 12 trading sessions, amid intensified fears about ... Read more...

Posted in Business |

Fitch cuts Greece credit rating


May 18th, 2012 - 2:45 am ICT by IANS
London, May 18 (IANS) International ratings agency Fitch has cut Greece's credit rating from B- to CCC, citing the "heightened risk" that Greece could leave the euro zone.Recent parliamentary elections ... Read more...

Posted in Business |

BJP raises concern over depreciating rupee


May 16th, 2012 - 8:08 pm ICT by IANS
New Delhi, May 16 (IANS) Bharatiya Janata Party (BJP) leader Murli Manohar Joshi Wednesday raised concerns over the depreciating value of the rupee against the dollar and questioned if ... Read more...

Posted in Politics |

Rupee hits record low of 54.50 against dollar (Lead)


May 16th, 2012 - 7:21 pm ICT by IANS
Mumbai, May 16 (IANS) The Indian rupee slumped to a record low of 54.50 against the US dollar Wednesday with risk aversion in global markets adding to the pressure, ... Read more...

Posted in Business |

Moody’s cuts 26 Italian banks’ ratings


May 15th, 2012 - 1:28 pm ICT by IANS
New York, May 15 (IANS) Moody's Investors Service cut the long-time credit ratings of 26 Italian banks Monday, underlining the banking woes in both the country and the euro zone.The ... Read more...

Posted in Business |

Sharma seeks differential rate for industry as output falls


May 11th, 2012 - 7:25 pm ICT by IANS
New Delhi, May 11 (IANS) The Reserve Bank of India (RBI) should devise a mechanism of differential rate of credit for manufacturing sector to revive growth, Commerce and Industry ... Read more...

Posted in Business |

Greeks vote in crucial parliamentary election


May 6th, 2012 - 4:02 pm ICT by IANS
Athens, May 6 (IANS) Greeks are participating in crucial parliamentary elections Sunday that is expected to decide the country's future in the euro zone, RIA Novosti reported.A total of 9.9 ... Read more...

Posted in Uncategorized |

India to cut subsidies to 1.75 percent of GDP in 3 years: Mukherjee


May 5th, 2012 - 8:21 pm ICT by IANS
Manila, May 5 (IANS) The Indian government is committed to bringing down subsidies to below two percent of the country's gross domestic product (GDP) in the current fiscal ... Read more...

Posted in Business |

Developing nations should work together: President Patil


April 24th, 2012 - 10:57 pm ICT by IANS
New Delhi, April 24 (IANS) Welcoming the envoys of 12 countries, President Pratibha Patil Tuesday said it was very important to work together and have institutions in which the ... Read more...

Posted in Uncategorized |

Sensex closes 207 points up, banking, realty, auto stocks rally (Roundup)


April 17th, 2012 - 6:56 pm ICT by IANS
Mumbai, April 17 (IANS) A benchmark index for Indian equities markets closed 206.99 points or 1.12 percent higher Tuesday after the Reserve Bank of India (RBI) cut key interest ... Read more...

Posted in Business |

Spanish banks borrow a record $417 bn


April 14th, 2012 - 12:02 pm ICT by IANS
Madrid, April 14 (IANS/EFE) Spanish financial institutions borrowed a record 316.34 billion euros ($417 billion) from the European Central Bank last month, according to data released by Spain's central bank.The ... Read more...

Posted in Uncategorized |

Botswana diamond exports triple


April 12th, 2012 - 8:07 am ICT by IANS
Gaborone (Botswana), April 12 (IANS) Botswana's diamond exports bounced back from a four-month slump in February, rising to 2.23 billion pula (nearly $306 million) or three times their level in ... Read more...

Posted in Uncategorized |

US stocks rebound on strong Alcoa earnings


April 12th, 2012 - 6:03 am ICT by IANS
New York, April 12 (IANS) US stocks rebounded Wednesday, snapping a five-day losing streak, after aluminum producer Alcoa reported better-than-expected earnings.The Dow Jones industrial average gained 89.46 points, or 0.70 ... Read more...

Posted in Business |

US stocks rebound on strong Alcoa earnings


April 12th, 2012 - 6:03 am ICT by IANS
New York, April 12 (IANS) US stocks rebounded Wednesday, snapping a five-day losing streak, after aluminum producer Alcoa reported better-than-expected earnings.The Dow Jones industrial average gained 89.46 points, or 0.70 ... Read more...

Posted in Business |

Spain blames Europe growth concerns for debt-risk premium rise


April 6th, 2012 - 12:31 pm ICT by IANS
Malaga (Spain), April 6 (IANS/EFE) Spain's economy and competitiveness minister on Thursday blamed a sharp rise in the country's debt-risk premium to market volatility triggered by "doubts about growth in ... Read more...

Posted in Business |

BRICS ministers to discuss trade, investment


March 27th, 2012 - 8:35 pm ICT by IANS
New Delhi, March 27 (IANS) Trade ministers from Brazil, Russia, India, China and South Africa (BRICS), representing over 40 percent of the world's population, will meet here Wednesday to discuss ... Read more...

Posted in Business |

Consumer confidence rises in Italy


March 27th, 2012 - 3:39 pm ICT by IANS
Rome, March 27 (IANS/AKI) Italy's consumer confidence rose in March, defying tax hikes and other reforms that are expected to cut into paychecks in the euro zone's third-biggest economy.The confidence ... Read more...

Posted in Business |

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