Key Economic News To Watch This Week

A quick preview of the key economic events for the upcoming week:

Monday, 31 October

The World Wind Energy Conference and Renewable Energy Exhibition begins in Cairo. Speakers will focus on the latest developments in wind power and how to advance it in the Middle East and elsewhere.

Related: Blowing in the wind: Europe’s energy debate has stalled

Tuesday, 1 November

A quick preview of the key economic events for the upcoming week:

Monday, 31 October

The World Wind Energy Conference and Renewable Energy Exhibition begins in Cairo. Speakers will focus on the latest developments in wind power and how to advance it in the Middle East and elsewhere.

Related: Blowing in the wind: Europe’s energy debate has stalled

Tuesday, 1 November

The two-day London Conference on Cyberspace is staged by the UK Foreign Office with the aim of setting standards for cyberspace. International politicians, civil society and business representatives will address how to maintain the internet’s economic and social benefits, and guard against criminal and security threats. Speakers include Hillary Clinton, UK foreign secretary William Hague, and Jimmy Wales, co-founder of Wikipedia.

Mario Draghi of Italy takes over as president of the European Central Bank from Jean-Claude Trichet of France. Draghi will preside over his first ECB governing council meeting in Frankfurt on Thursday.

The Nordic Council meets in Copenhagen, Denmark (until November 3), at which leaders of member nations discuss issues of mutual interest.

Related: Haven and hell: Norway’s looming economic dilemma

Wednesday, 2 November

The World Pension Summit opens in Amsterdam. Experts from around the world will discuss topics such as pension scheme development, asset and portfolio management, shifts in social security structures, and regulation.

The 2011 Bribe Payers Index is launched in Berlin by anti-corruption group Transparency International. The index ranks the likelihood of companies from 28 leading export nations to bribe abroad.

Related: 2010 Corruption Perceptions Index Rank and Score

Thursday, 3 November

The G20 group of industrialized nations holds a two-day summit in Cannes, to tackle the eurozone and wider global economic problems. The EU leaders are hoping for a significant Chinese participation in the European Financial Stability Facility, but with China making it very clear that they want guarantees and that they should not be viewed as a “source of dumb money”, the G20 meeting will be an event worth following. 

Related: Can the Financial Stability Board live up to its name?: Olin Wethington

Related: EU confirms 1 trillion euros bailout fund, 50% Greek writedown

Mario Draghi’s unfortunate first decision as president of ECB will likely be to lower the rates by 0.25% – a proposal that didn’t materialized in Trichet’s last meeting as president of the ECB. With deteriorating economic conditions in both core and peripheral countries, the ECB can help growth by lowering the rates.

BMW reports its earnings growth for the second half of the year, after it surprised analysts in August when it posted more than 14 percent operating margin at its car division. Despite the uncertain economic outlook, there is little evidence that indicates a slower demand for its broad range of models, which includes the Rolls-Royces and Mini Coopers.

Friday, 4 November

U.S. Non-Farm Employment Change and Unemployment Rate: The U.S. created 103,000 new jobs in September – well above the 55,000 expected. Nevertheless, monthly employment figures tend to be volatile and should not be followed meticulously each month, with a broader look indicating improvement in the job market. The US non-farm sector is expected to add 100,000 jobs this time and the unemployment rate will probably remain unchanged at 9.1%.

The Hajj, the pilgrimage to Mecca and one of the main religious observances in Islam, is expected to begin.

Sunday, 6 November

Daylight saving time ends in most of the United States with clocks going back an hour.