Markets Archives - Page 582 of 782

Australia Cost Of Living On The Rise

A report by The Economist’s Intelligence Unit called the “Worldwide cost of living index 2013” has named two of Australia’s major cities in the top five most expensive cities in the world to live in. Sydney ranked third behind Japan’s Tokyo and Osaka, while Melbourne took fifth spot after the Norway’s capital, Oslo.

The index, which compares all cities with New York and US dollars revealed that the price of a loaf of bread skyrocketed in Sydney from $1.81 a decade ago to $3.48.

Will H2 See A Rebound In Global Investment Confidence?

The US Federal Reserve has signaled that barring new signs of weakness in the economy, it will likely slow its asset purchases this year and conclude them next year. But Fed officials appear somewhat surprised by the sharpness of the rise in interest rates and have tried to allay fears that tapering is tightening.

Key Economic News To Watch This Week: July 8

This week, the United States and European Union begin negotiations on a transatlantic free trade and investment agreement, though progress might be overshadowed by the US’ alleged spying activities on EU member states. Also, South Sudan celebrates its second anniversary of independence.

Monday, July 8

China vs. India: Who Will Win The Race To Be More Financially Open?

Since the 2008 financial crisis, both China and India have taken steps to become more financially open. But while the Indian economy appears to be ahead at present, policy continues to segment onshore and offshore markets in both economies and policymakers face challenges in further financial integration.

China Backs Shanghai To Be Mainland’s First Free Trade Zone

China’s key financial centre Shanghai has received State Council approval to establish a trial free-trade zone within its surrounding area, serving as a test for some of the government’s financial overhauls, including interest rate liberalisation and full convertibility of the renminbi, reported the China Daily on Thursday.

India To Launch $22bn “Right-To-Food” Programme

The Indian government on Wednesday approved an ambitious $22 billion food security programme that will guarantee cheap food grains for nearly 800 million citizens; a move which critics say is a populist measure that will weigh on the country’s strained public finances.

“The cabinet has unanimously approved the food security ordinance,” Food Minister K. V. Thomas told reporters in New Delhi. The interim Food Security Ordinance is expected to become law this week but must be ratified by Parliament in its next session.

Fed To Impose Stricter Capital Rules On Wall St Banks

The United States Federal Reserve on Tuesday voted unanimously in favour of tougher bank capital rules for Wall Street, a move in line with developing international standards meant to prevent another catastrophic bank bailout seen in 2008.

At a board meeting in Washington, Fed officials led by Chairman Ben Bernanke agreed to force banks to abide by the new, tougher international standards on bank capital and debt.

China’s Rise As An Economic Power: Dan Steinbock

In the early 1870s, the United States, the largest emerging economy of the era, overtook the United Kingdom. Now, as the United States’ liquidity-driven growth eclipses, the once-in-a-century transition of economic power – from U.S hegemony to China’s peaceful rise – will likely accelerate.

China’s Cash Crunch Eases But Officials Lower Economic Expectations

China markets stabilised on Monday as policymakers offered reassurance that there is ample liquidity in the financial system, bringing to a close June’s record credit squeeze which raised fears that China’s years of relying on debt to finance massive projects are coming to an end.

China markets continued its rebound on Monday in a sign of growing confidence that credit conditions were improving as cash rates extended their decline from peaks reached during June’s credit crunch.

US Calls For Stronger Economic Ties With Africa

Speaking at the last leg of his weeklong Africa tour, U.S. President Barack Obama on Monday called for stronger and more effective economic partnerships with Africa, one that would help sustain the region’s fast growing economic growth while extending the benefits to as many people as possible.