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Business community looks to APEC to facilitate trade
Business community looks to APEC to facilitate trade As leaders of the 21 economies in the Asia-Pacific Economic Cooperation (APEC) community arrive here Friday to convene their annual meeting, CEOs of companies in the region are also kicking off their APEC CEO summit as part of the private sector input to the forum. Business leaders [...]
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Bank of Korea (BOK) governor sees monetary policy still accommodative
BOK governor sees monetary policy still accommodative The Bank of Korea (BOK) Governor Kim Choong-soo said Friday the central bank’s current monetary policy remained accommodative, indicating the bank would sustain its interest rate normalization policy from the long-term perspective. “There is no change in our view that the current monetary policy remains accommodative. No change [...]
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What could Europe and the world do to avoid a recession?
What could Europe and the world do to avoid a recession? EU’s recent autumn economic forecast hints standstill in European economy in the near term. The recent hike in Italian government bond yields also raise fears of another round of debt crisis. And a lack of concrete measures at the recent G20 summit to maintain [...]
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China’s imports, exports exceed 3 trln USD
China’s imports, exports exceed 3 trln USD China’s imports and exports reached a record high of more than 3 trillion U.S. dollars as of Nov. 2, according to preliminary calculations, the General Administration of Customs (GAC) said on Thursday. Despite global economic uncertainties, the country’s foreign trade maintained steady growth this year, the GAC said [...]
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Fed lowers U.S. economic outlook, open to further stimulus
Fed lowers U.S. economic outlook, open to further stimulus The U.S. Federal Reserve on Wednesday downwardly revised its projection of the country’s economic outlook and reaffirmed openness to further stimulating policy if needed. The economy is expected to grow by 1.6 to 1.7 percent in 2011 and 2.5 percent to 2.9 percent next year, said [...]
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Greek Prime Minister insists on referendum on EU aid deal despite political turmoil
Greek PM insists on referendum on EU aid deal despite political turmoil Greek Prime Minister George Papandreou insisted on Tuesday night on his initiative that a recent European aid deal for Greece will be put to referendum in early 2012, despite the political turmoil caused that rocks his socialist administration. “There is no way that [...]
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Bank of America drops plan for 5 dollars debit card fee
BofA drops plan for 5 dollars debit card fee Bank of America, the second- biggest U.S. bank, announced on Tuesday it no longer planned to charge 5 U.S. dollars a month for debit usage in response to customer feedback and the changing competitive marketplace. The bank had planned to start collecting the debit-card fee as [...]
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Eurozone bailout package “only way” to save Greece: French President Nicolas Sarkozy
Eurozone bailout package “only way” to save Greece: Sarkozy The eurozone bailout package for Greece was the “only way” to save the country, French President Nicolas Sarkozy said Tuesday, urging Athens to make its own effort to exit the debt crisis. In a statement issued by the Elysee Palace, Sarkozy called Greek decision to hold [...]
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Apple iPhone 4S to arrive in China’s HK, South Korea
Apple iPhone 4S to arrive in China’s HK, South Korea Apple announced on Tuesday that its latest iPhone 4S smartphone will be available in China’s Hong Kong, South Korea and 13 additional countries next Friday. Customers will be able to pre-order iPhone 4S beginning this Friday, the Cupertino, California-based company said in a statement. The [...]
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Australian major banks should “pass on” RBA’s rate cut: PM
Australian major banks should “pass on” RBA’s rate cut: PM Australian Prime Minister Julia Gillard on Tuesday said Australian banks should pass on in full the Reserve Bank of Australia’s (RBA’s) cut in its official cash rate. The central bank on Tuesday announced to cut the cash rate by 25 basis points to 4.5 percent, [...]
