Category Archive: News
China reports slowest growth since 1999
Though China’s GDP growth slowed to its lowest in 13 years, the country finished 2012 in a slightly stronger position reporting 7.9 percent growth in the last quarter, compared to 7.4 in the three months before. The overall growth rates for the year topped 7.8 percent, significantly higher than some estimates of 7.5 percent. The […]
World Bank advises against fiscal stimulus
The World Bank has stated that despite weak growth forecasts countries should not be tempted by the quick fix of artificially stimulating their economies this year, and should instead invest in developing the backbone drivers of growth. New World Bank President Jim Yong Kim said: “The economic recovery remains fragile and uncertain, clouding the prospect […]
New EU draft for rescue fund rules
The EU has released a new draft of regulations that would force countries to take a greater participation alongside the European Stability Mechanism (ESM) rescue fund, or protect the fund against any losses accrued from rescuing banks. The plan was circulated among eurozone finance ministers at the end of last year but has now been […]
Managing the Venezuelan exchange control system
Since January 23 2003, an exchange control regime authorised by the Venezualan Central Bank (BCV) has been in force in Venezuela, strongly restricting the sale and purchase of foreign currency. This restricted currency market was initially developed by Exchange Control Convention Number One, and was then reviewed by several other Exchange Control Conventions. Resolutions were […]
Tort team attack Big Food
In 2009, a group of parents filed a class action lawsuit with the potential to bring Big Food down to its knees. The parents had taken issue with an ad campaign that tried to pass off Nutella – the chocolate and nut paste – as a healthy breakfast staple, citing the wholesome ingredients used to […]
Ireland confident in debt deal after €2.5bn bond sale
Ireland’s National Treasury Management Agency has held a successful five-year bond auction, attracting €7bn of orders and allowing the debt office to raise €2.5bn- a yield of about 3.35 percent. The auction was the latest in a series of steps towards rebuilding the country’s finances and regaining the trust of the markets. The auction was […]
Bank of America ramps up lending
Bank of America CEO Brian Moynihan has announced that the company should overtake JPMorgan Chase in direct-to-consumer mortgage lending over the next six months, according to the Financial Times. Moynihan says he has instructed bankers to be “more aggressive” in pursuing and offering loans to companies. In the first nine months of 2012, BofA originated […]
India benefits from a billion brains
Clip on a harness, lift your legs and hurtle down a wire towards the sharp corners of a 15th-century Rajasthani fort. As you whizz, you might have a few niggling doubts. Was the zip-wire serviced by someone who knew what they were doing? Is the safety adviser any good? Who is trained in first aid? […]
Global trade enters new era
Historic news this August, as Russia officially became a member of the World Trade Organisation (WTO) after 20 years of negotiations and debates over preferential treatment for domestic manufacturers. A spate of major deals involving its oil, petrochemical and metals industries no doubt greased its path to WTO accession. Putin has since done something of […]
Plans for quotas for women on boards dropped by Brussels
The original plan obliged all publicly traded companies to fill a quota of 40 percent of women by 2020 or risk incurring fines and sanctions, has now been scrapped. EU lawyers have ruled that mandatory gender quotas are not allowed under the region’s treaties. The EU justice commissioner, Viviane Reding, announced the suspension of the […]
