China to Expand Asset-Backed Securities Trial

China pledged to expand the packaging of loans into securities to dissipate financial risks, part of efforts to increase the use of markets and sustain economic growth.

US, Swiss reach deal on American tax evaders

WASHINGTON: The US government and Switzerland have reached an agreement that could expose Americans who have used Swiss banks to avoid paying taxes.

Will Financial Regulation Trash Global Economic Securi

Alexander Mirtchev, Contributor

Under the auspices of the Financial Stability Board, more than 30 recommendations have been set out as part of a massive and far-reaching G-20 financial regulatory reform package to ostensibly minimize risk in the financial system and maximize consumer protection.

German business confidence rises for fourth month: Ifo

German business confidence rose for a fourth month in a row in August, data showed on Tuesday, exceeding expectations as companies in Europe's top economy voiced more satisfaction with their situation.

Middle East stock markets still red hot

Stocks in the Middle East fell sharply Tuesday, as the threat of a U.S. military strike against Syria rattled investors. But the region still is home to several of the top performing markets this year.

"You Must Confess": China's Red Campaign Against Multinationals

Beijing’s Maoist revival, roiling Chinese society and politics, is now beginning to poison China’s business environment as well.

Merkel ally fuels Greek aid row before election

(Reuters) - Germany's commissioner to the European Commission said on Saturday he expects a new bailout for Greece to amount to a little more than 10 billion euros, fuelling a debate that could hurt Chancellor Angela Merkel in next month's election.

US Federal Reserve's tapering 'not bad' for Southeast Asia: Singapore finmin Tharman Shanmugaratnam

SINGAPORE: A wind down of the US Federal Reserve's stimulus programme will "not be a bad thing" for Southeast Asia, Singapore's finance minister said Friday, at the end of a week that saw a huge sell-off in emerging markets.

Economic slowdown: China launches Shanghai free trade zone hub

BEIJING: Looking to reverse the economic slowdown, the new Chinese leadership initiated further financial reforms by approving its biggest experimental project to establish a pilot free trade zone in China's biggest business hub, Shanghai.

British manufacturing at highest level for two years

Britain's manufacturers have cranked up production to its highest level for two years, according to business group the CBI, in the latest piece of evidence that the economy is picking up speed.

Greece says privatisations go on, despite sack for head

ATHENS: Greece will stick to its programme of privatisations, a key part of bailout conditions, despite the sacking of the head of the privatisation fund, a government official assured on Monday.

Hong Kong 2013 second-quarter GDP up 3.3% on year

HONG KONG: Hong Kong's economy grew "moderately" year-on-year in the second quarter, with domestic demand and growth in the mainland Chinese economy offsetting a weak environment in the West, officials said Friday.

Jobless Claims in U.S. Decline to Lowest Level Since 2007

Employers fired the fewest workers last week since before the recession began almost six years ago, raising expectations that bigger job gains will soon give U.S. consumers the ability to boost spending.

Key Euribor rate steadies as ECB rate cut expectations fade

(Reuters) - The key Euribor bank-to-bank lending rate was unchanged on Thursday, consolidating gains from the prior session when data showing the euro zone emerged from recession in the second quarter dented hopes for another ECB rate cut.

Euro zone exits recession in Q2 slightly faster than expected

BRUSSELS: Stronger growth in the euro zone's two largest economies, Germany and France, helped the euro zone to emerge from its longest recession to date in the second quarter, confirming expectations a fragile recovery was under way.

British unemployment steady at 7.8% but outlook brightens

LONDON: Britain's unemployment rate held steady at 7.8 per cent in June but a sharp fall in jobless benefit claims in July pointed to a strengthening labour market.

Coal Mine Fight Embodies an Economic Struggle in Rural Australia

BULGA, Australia — Bulga, a hamlet nestled in the verdant hills of the wine country north of Sydney, is at the center of a legal dispute that could reshape the regulatory environment of a national economy heavily dependent on natural resource extraction.

Banks cut 5,500 branches across Europe in 2012

(Reuters) - Banks cut 5,500 branches across the European Union last year, 2.5 percent of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008.

RBS sell-off may not happen for another five years, says Vince Cable

A sell off the taxpayer's 81% stake in Royal Bank of Scotland may not take place for another five years, according to business secretary Vince Cable.

Is too much welfare preventing initiative in US?

America was once the land of Lady Liberty, beckoning the world: "Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore.

Israel seeks to negotiate on planned EU sanctions

(Reuters) - Israel appealed to the European Union on Friday to rethink planned sanctions against its organizations in the occupied territories and called for talks, a shift in tone from previous Israeli anger and retaliatory measures.

U.S. Fed balance sheet grew in latest week

(Reuters) - The U.S. Federal Reserve's balance sheet grew in the latest week as the Fed's holdings of U.S. Treasuries increased, Fed data released on Thursday showed.

How the Alternative Energy Megatrend will impact global geopolitical relations

The Greening of Geopolitics

By Dr Alexander Mirtchev

 

The advent of renewable energies is generally regarded from a fairly narrow perspective: whether – and to what extent – they are able to replace fossil fuels and what this would mean for the energy system and the economy. Such a perspective profoundly underestimates the potential consequences of what is in fact a revolutionary global development: a socio-political and techno-economic megatrend that has the ability to become a global societal game-changer, writes Alexander Mirtchev, Vice-President of the Royal United Services Institute for Defence and Security Studies (RUSI). According to Mirtchev, the ‘Alternative Energy Megatrend’ will have far-reaching effects on global geopolitical relations and security concerns – effects that have yet to be fully grasped by most observers. This article is adapted from his upcoming book: “The Alternative Energy Megatrend: A Global Security Discourse in the Universally-Securitized World”.

Alternative Energy And Global Energy Security In Aftermath Of Rio+20

“Life always gets harder toward the summit–the cold increases, the responsibility increases.” These words by Friedrich Nietzsche aptly characterize the atmosphere among global leaders at June’s international summits.

Romania Unexpectedly Speeds Up Rate Cuts to Record-Low 4.5%

Romania cut its main interest rate more than economists forecast and central bank Governor Mugur Isarescu indicated further easing, a sign policy makers are growing more confident of meeting their inflation target.

Singapore seen revising down Q2 growth on Aug 12

SINGAPORE: Economists expect Singapore to revise downwards second quarter gross domestic product growth from preliminary estimates when it releases a detailed report of the data at 8 a.m. (0000 GMT) on Aug 12, the Ministry of Trade and Industry said on Monday.

UK service sector at six-year high, PMI survey suggests

The UK's services sector has expanded at its fastest pace since December 2006, a survey has indicated.

Australians to go to the polls on Sept. 7

CANBERRA, Australia (AP) -- Prime Minister Kevin Rudd called an election for Sept. 7 and said Sunday that it will be fought over who can be trusted to manage the Australian economy as it transitions from a decade-old mining boom fed by Chinese industrial demand that is now fading.

S&P downgrades Croatia's outlook to negative

ZAGREB: Standard & Poor's on Friday affirmed its rating for Croatia but revised its outlook from stable to negative, warning of a possible deterioration in the finances of the European Union's newest member.

IMF urges urgent action from Spain to create jobs, growth

MADRID: Spain's reform progress and a correction in its fiscal and external imbalances are helping it to stabilise its economy, but urgent action is needed to create jobs and stimulate growth, the International Monetary Fund said.

Central banks in Europe keep rates on hold

The European Central Bank and the Bank of England left their benchmark interest rates unchanged Thursday, while both move towards issuing more Fed-style guidance on future policy plans.

China leader: Shelve sea disputes for development

BEIJING: China's president said at a high-level meeting Wednesday that Beijing would put aside territorial disputes and seek joint maritime development in disputed waters, though he insisted that China would not give up its sovereignty claims.