Markets Archives - Page 699 of 782

Should Wall Street Be So Sure About Greece Deal?

Wall Street hit its biggest four-day rally last week amid optimism that Greece will avoid default. The Dow Jones Industrial average was up 153 points, S&P’s 500 Index went up 13 points – even our Consumer Confidence Index registered optimistic activity in the US after a long period of pessimism. But is the US celebrating too soon?

With news of Greek lawmakers approving the second critical legislation tied to austerity, coupled with stabilizing US housing market data, Wall Street cheered and ended the week in positive territory.

Problems Pile Up As Yemen Struggles With Fuel Crisis

Socio-economic problems have erupted in Yemen as the petrol crisis enters into its fifth month with little to no end in sight.

The Yemeni oil industry, which is the country’s largest source of income, came under attack by Yemeni tribesman in March this year with political leaders both for and against Yemeni President Ali Abdullah Saleh accusing each other of backing the armed tribesmen.

The Yemeni President himself was injured in an assassination attempt on June 3^rd and is currently recuperating in Saudi Arabia.

High Oil Prices: Caught in a Sea of “Vicious Cycles”

1 July 2011.

Weekly Round-Up: Big Banks Buy into Brazil and Other News

Here’s a weekly look at the top business, finance and world economy news.

EconHumor: Politicians Say the Dumbest Things

Politicians are typically smart and well-educated. But under pressure – and especially when they’re trying to sugarcoat the ugly truth or blatantly lie, they tend to come up with some pretty dumb things.

Here’s a collection of some of the best political blunders:

“Do you own sombreros? Do you know the Mexican hat dance?” — Sidney Yates, U.S. representative from Illinois, addressing Hispanic high school students.

New Economic Growth Model For Russia?

The Russian economy needs a new growth model for economic development, said Russian President Dmitry Medvedev in his budgetary address on Wednesday.

Addressing budgetary matters for the next three years, Medvedev outlined 12 key priorities that would raise the efficiency of state governance, modernise the economy and improve living standards in the country.

New Clashes in Egypt Leave 1,000 Injured and Democracy Teetering on the Edge

In the aftermath of the fiercest street fights to be seen in central Cairo since the fall of Hosni Mubarak, analysts have questioned whether the level of violence that have erupted in the post-Jasmine Revolution Arab World could be a hindrance to the democratic process in the region.

The Great Food Price Balancing Act

29 June 2011.

Rising food prices affect everybody, though obviously certain demographic groups – usually the poor – are affected more than the rest. As food prices continue to retain high levels of volatility, Jeffrey Frankel questions whether food prices can be stabilized and asserts that speculators could potentially act as “detectors of change” or as a “stabilizing force”.

BRIC Support For New IMF Chief

French Finance Minister Christine Lagarde received support from the four major emerging economies (Brazil, Russia, India and China) as she was officially elected to become the new IMF Managing Director for a five-year term beginning on July 5, 2011.

While Brazil, Russia and China had previously already expressed their support for Lagarde, India chose to wait for the official IMF announcement of Lagarde’s appointment before backing the French Finance Minister for the job.

OPEC Outrage at IEA’s Release of Oil Reserves

A war of words could erupt between oil-consuming nations and oil producers, after the IEA (International Energy Agency) – representing 28 oil-consuming countries – announced last Thursday that it would release about 2 million barrels of oil per day from its emergency stocks over the next month in order to boost supply and drive down prices.