Author Archive: Jeremy Parkinson
Hungary govt plans steps to improve economy
The Hungarian government’s economic action plan to be published after a release of its report on the budget will contain steps to improve the financial situation and structural changes, Prime Minister Viktor Orban has announced. “It cannot be about…an adjustment, about patching up (the economy)…measures aimed at improving the financial situation must be linked with […]
Canada GDP growth seen at 3.3% this year
“There is no firm plan to go forward this year with respect to interest rates. We just have to watch and wait and see,” Flaherty told reporters in an interview in Shanghai. He said Canada’s GDP was expected to grow 3.3 percent this year, up from an expectation of around 2.9 percent previously. The Bank […]
UK firms’ foreign takeovers hit record low in Q1
The number of foreign firms bought by British companies fell to its lowest in more than 20 years in the first three months of 2010, official data shows. The Office for National Statistics said spending by UK firms on foreign acquisitions fell to £192m in the three months to March, the lowest since records began […]
Euro rates at 0900 GMT
Current High Low USD 1.2135 1.2309 1.2116 JPY 109.94 112.26 109.77 GBP 0.839 0.8474 0.8385 CHF 1.4171 1.4221 1.4158 DKK 7.439 7.4399 7.4386 NOK 7.9468 7.9662 7.9305 SEK 9.6366 9.643 9.579 AUD 1.4625 1.4666 1.4504 CAD 1.2766 1.2852 1.2769 HKD 9.4542 9.583 9.4423 RUB 38.0455 38.098 37.9 SGD 1.7178 1.7241 1.7163
Eurozone factory PMI sinks, output growth slows
The 16-nation bloc and its common currency have been hit by waves of investor insecurity churned up by the region’s debt crisis and fears that troubles in Greece may be spreading to other peripheral eurozone economies. “There has been a slowdown in growth globally and in the eurozone there is subdued domestic demand due to […]
Ryanair speeds up first dividend as profit rising
Irish airline Ryanair brought forward plans to pay its first dividend since being floated in 1997 as it swung back to a full-year profit ahead of most rivals and expected to grow earnings further this year. Europe’s biggest low-cost carrier earlier said it could end its no-dividend policy around 2013 when it will scale back […]
Nigeria looks to alter key 2010 budget assumptions
The ministry raised the alarm earlier in May that government revenues, mostly from oil sales, were not enough to fund this year’s expansionary spending plans and could force the OPEC member to use all of its windfall oil savings. Remi Babalola, minister of state for finance, told reporters it would propose revisions to the budget’s […]
NATO says security key to economic growth
NATO Secretary General Anders Fogh Rasmussen has been quoted as saying economic growth was dependent on global security and that governments should be aware of this when cutting defence budgets. Rasmussen said in an interview that pressure on governments to reduce budget deficits would undoubtedly lead to cutbacks in defence spending but urged NATO countries […]
Geithner offers China vow of greater fiscal discipline
US Treasury Secretary Timothy Geithner told future Chinese leaders that the Obama Administration will cut its budget deficit once it is sure the economy is safely growing. In a speech to about 30 middle-aged cadres at the Central Party School, Geithner said Washington is aiming to steadily lower its deficit as a percentage of national […]
China avoids commitment to US on currency
China struck a conciliatory note at the opening of talks with the US by vowing to spur domestic demand and keeping a guarded opening to exchange rate reform, which the Obama administration says is needed to rebalance the global economy. The US treaded softly on the subject and welcomed Beijing’s long-standing pledge to reform the […]
