Key Economic News To Watch This Week: Nov. 21
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A quick preview of the key economic events for the upcoming week:
Some progress has been made in Europe: New governments are in place in Italy and Greece, and though it might be painful, the technocratic leaders will be looking at difficult but important structural economic reforms. In Spain too, voters kicked out the Socialist government Sunday, in what many saw as a referendum on the handling of the European debt crisis. The historic result makes it the fifth European government to fall in the past year because of the debt crisis.
A quick preview of the key economic events for the upcoming week:
Some progress has been made in Europe: New governments are in place in Italy and Greece, and though it might be painful, the technocratic leaders will be looking at difficult but important structural economic reforms. In Spain too, voters kicked out the Socialist government Sunday, in what many saw as a referendum on the handling of the European debt crisis. The historic result makes it the fifth European government to fall in the past year because of the debt crisis.
Monday, 21 November
Following last week’s Organisation of Islamic Co-Operation meeting in Kuala Lumpur, the World Islamic Banking Conference takes place in Bahrain. Key topics include the expanding cross-border transactions and development of new financial products.
Related: Islamic Banking and Islamic Banks, Islamic Finance
Related Story: Oman becomes the latest entrant to the Islamic Financial Industry
Hewlett-Packard announces its quarterly earnings. New CEO Meg Whitman is expected to report a 4 percent fall in sales, most likely a consequence of the flooding in Thailand that has constrained the production of disk drives.
Related: New HP CEO to get $1 annual salary while ousted CEO walks away with $13 million
The International Maritime Organisation, the UN agency responsible for shipping safety and regulation, holds its biennial meeting in London.
Related: The shipping industry
The Barcelona Economic Week begins with the aim of enhancing economic co-operation and business opportunities in the Mediterranean region. The event highlights issues such as corporate governance, youth employment, development of small businesses, sustainable production and the integration of women.
Tuesday, 22 November
The High Pay Commission, a year-long independent investigation into the causes and effects of high rewards in the UK private sector, issues its final report.
The World Congress of the Organisation of World Heritage Cities takes place in Sintra, Portugal, to discuss the effect of climate change on historic cities.
Wednesday, 23 November
The U.S. Congressional deficit reduction committee faces a deadline today to come up with $1.2 trillion in cuts.
The European Commission is scheduled to present in Brussels proposals on extra economic surveillance of euro states with excessive deficits, and a green paper on euro stability bonds. It is also due to issue proposals to reform the European audit market, following weaknesses identified by the 2008 global financial crisis.
The challenges facing UK retail banks – including increased competition, stricter regulation, changing consumer behaviour and the Vickers Report recommendations – are discussed at the two-day Future of Retail Banking conference in London.
Related Story: Vickers’ banking reforms: Yay or Nay?
The Future of UK Postal Services conference takes place in London, with politicians, regulators and public and private operators discussing the industry’s prospects.
Related: Save the US postal service from default! US Postmaster General to beg congress today
Thursday, 24 November
The United States celebrates its national Thanksgiving holiday.
Friday, 25 November
Black Friday, the traditional shopping day after Thanksgiving begins with stores opening early and offering massive discounts. Amid the economic slowdown and intense competition, retailers are vying hard for customers – slashing prices and attempting to outdo each other by opening their stores earlier.
Parliamentary elections are held in Morocco, following the constitutional reforms agreed in response to the Arab spring.
Related: Why inequality will only lead to our downfall: Nouriel Roubini
Saturday, 26 November
New Zealand goes to the polls – A general election and referendum on the voting system is held.
Sunday, 27 November
The final race of this year’s Formula One championships takes place in Sao Paulo, Brazil.
Related: The Formula One industry
Related Story: Singapore Economy: F1 a success but more tourism needed
