International Economics

Portugal Resumes Selling 5-Year Bonds For the First Time Since it Received a Bailout in May 2011

January 24, 2013

“Portugal sold 2.5 billion euros ($3.33 billion) of five-year bonds through banks, the first offering of that maturity in almost two years as it makes progress in regaining access to long-term debt markets.”

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International Monetary Fund (IMF) Projects 3.5% Global Economic Growth in 2013

January 24, 2013

“The International Monetary Fund is projecting a modest rise in global economic growth for 2013, but also warning that problems in the eurozone and the United States could derail momentum.”

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International Monetary Fund (IMF) Projects the European Union (EU) will Remain in Recession in 2013

January 24, 2013

“The eurozone will stay in recession in 2013 with the currency area’s economy contracting by 0.2 percent, the International Monetary Fund predicts.”

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Australia Discovers Up To $20 Trillion Worth of Oil Shale Reserves

January 23, 2013

“Brisbane company Linc Energy yesterday released two reports, based on drilling and seismic exploration, estimating the amount of oil in the as yet untapped Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to 233 billion barrels of oil.”

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France and Germany Promise to Present Joint Economic and Monetary Reform Proposal to the European Union

January 22, 2013

“Berlin and Paris have a different vision of a closer union, with Merkel favoring tighter central controls over budgets and Hollande seeking more solidarity.”

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Price of Oil Decreases Due to High Supply and U.S. Debt Uncertainty

January 22, 2013

“Benchmark oil for February delivery was down 32 cents to $95.24 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.”

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Bank of Japan Looks to Combat Inflation, Setting a 2% Inflation Target

January 22, 2013

“The Bank of Japan also said that it intended to purchase assets indefinitely, promising to stick to a program that has allowed the bank to pump funds into the Japanese economy, even with interest rates at virtually zero.”

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Germany Opposes a European Union Bailout for Cyprus

January 18, 2013

“They wonder openly whether tiny Cyprus going bust would affect the eurozone at all.”

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International Monetary Fund (IMF): Austerity Cuts Restored Greece Recovery Program

January 18, 2013

“Earlier this week, the IMF approved a long-delayed $4.3 billion loan installment to Greece following an economic review.”

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In 2012, China’s Economy Grew At Its Slowest Pace Since 1999

January 18, 2013

“Year-on-year growth of 7.9 percent in the fourth quarter beat a consensus forecast of 7.8 percent in a Reuters poll and snapped a streak of seven consecutive quarters of slowdown.”

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World Trade Organization Chief: Kazakhstan May Join the WTO Later This Year

January 17, 2013

“Kazakhstan applied to join the WTO in 1996. The oil-rich Central Asian state is one of the few countries in the world that remains outside the international trading club.”

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Iranian President Ahmadinejad: Iran Must Reduce Its Dependence on Oil

January 17, 2013

“It also represents the first major acknowledgment by Ahmadinejad that the economic squeeze from sanctions demands “structural changes” in Iran’s industries and exports.”

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International Monetary Fund Approves $4.3 Billion Loan for Greece

January 17, 2013

“The decision by the IMF’s board was expected following the Greek parliament’s approval this week of an emergency bill ratifying dozens of conditions set by bailout lenders.”

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Saudi Arabia Pledges $100 Million to Help with Palestine’s Budget Crisis

January 17, 2013

“The Saudi aid will make little progress toward lowering the government’s debt of more than $1.3 billion.”

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World Bank Cuts Estimated 2013 Economic Growth Forecast to 2.4%, Down from 3%

January 16, 2013

“The second half of 2012 saw a worsening of the euro crisis, fiscal brinksmanship in the United States that left central debt and spending issues unresolved, and a recognition that developing countries were slowing as well.”

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