Category: News Desk

China FDI Falls For the Sixth Consecutive Month


In the latest sign of trouble for the world’s second largest economy, foreign direct investment into China fell 0.7 percent in April – the longest stretch of decline since the start of the global financial crisis.

China’s Ministry of Commerce announced yesterday that April’s inbound investment dropped 0.7 percent from a year earlier to $8.4 billion, following a 6.1 percent decline in March. FDI fell 2.4 percent in the first four months, from a year earlier, to $37.9 billion while outbound direct investment grew by 72.8 percent to $23.2 billion.

Eurozone Narrowly Escapes Recession


On the back of strong export growth in Germany, the 17-nation eurozone currency bloc has managed to narrowly avoid recession in the first three months of the year.

The European Union statistics agency, Eurostat, announced today that growth in the eurozone was zero percent in the first quarter of 2012, helped by Germany’s better than expected economic performance.

Expanding at 0.5 percent for the same period, Germany helped the euro area avoid its second recession in three years, cementing hopes that Europe’s largest economy can underpin the eurozone.

China Wary of Australia-US Military Ties


China has voiced it concern over the growing military ties between Australia and the United States, with Chinese officials saying that “the time for Cold War alliances has long passed.” China is one of the largest trading partners for Australia, and exports more than a quarter of its products to China.

Infographic: Ways to Maximise the Summer Vacations


As we approach the summer holidays, the tourism industry in many countries prepare for its highest traffic as well as highest revenues in the year. For students, the summer holidays are also the longest vacations in the academic year. Besides travelling, what else can students do to maximize their holidays?

While vacations are fun, there are several alternatives available for college students.

Key Economic News To Watch This Week: May 14


A quick preview of the key economic events for the upcoming week: While Ben Bernanke said last week that the US banking system has recovered significantly; mortgage lending in the US remains tight and is likely to improve slower than expected. In Europe, Greece’s failure to form a government and Spain’s mounting economic problems will no doubt have an impact that goes far beyond the eurozone.

Monday, May 14

Mexican Cartel Dumps 49 Mutilated Bodies on Highway


Mexican authorities have found the dismembered bodies of at least 49 people on a highway connecting the northern industrial Mexican city of Monterrey to the US border. Mexico’s most violent organised crime-group, the Zetas, has claimed responsibility for bodies, as violence between drug cartels intensifies in a turf war.

In the latest series of horrific mass killings, officials say the headless torsos of 43 men and 6 women were found in the town of San Juan on the non-toll highway to the border city of Reynosa, forcing police and troops to close off the highway.

Facebook-Instagram $1 Billion Deal Under Investigation


The U.S. Federal Trade Commission (FTC) has launched an investigation into Facebook Inc $1 billion acquisition of photo-sharing service Instagram reported the Financial Times on Thursday, with the steep price of the deal said to be under scrutiny by the federal agency.

Big Four Accounting Firms Ordered To Hire More Locals In China


China has unveiled new rules that will effectively force the Big Four international accounting firms – Ernst & Young, KPMG, Deloitte and PricewaterhouseCoopers – to appoint a local citizen as the head of their mainland operations within the next five years, or face severe financial penalties.

Portugal Cancels Four Public Holidays To Boost Economy


The Portuguese government has decided to eliminate four public holidays from its national calendar so as to increase the national productivity, claimed a report by the BBC on Wednesday.

Goldman Gorges On Italian Debt


U.S. financial firm Goldman Sachs Group Inc has more than doubled its exposure to short-term Italian government debt over the first quarter of this year, said the Wall Street Journal on Thursday, as Goldman continues to reduce its stake in other troubled European nations.

In a securities filing, the New York-based company revealed that it was holding close to $8.22 billion of Italian debt – as of March 31 – compared to just $3.05 billion at the end of 2011.