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Cyprus receives first installment of its bailout funds
Cyprus has received 2bn Euros, the first installment of a 10bn-Euro bailout package, from the European Union (EU) and the International Monetary Fund (IMF).
Eurozone finance ministers are also expected to sign off the latest tranche of Greece’s...
Unexpected decline in China’s manufacturing growth in April
China’s Purchasing Managers’ Index (PMI) dropped from 50.9 to 50.6 in April, indicating an unexpected slowdown in China’s manufacturing sector.
The drop in the growth of manufacturing sector, China’s main driver of economic growth, poses...
Economic morale of the Eurozone at a 4 month low
Economic sentiment in the Eurozone economy hits its 4 month low in April, slipping 1.5 points to a worst than expected 88.6, according to the European Commission.
“The further and increased slippage in economic sentiment in April reinforces...
US to print new 100 dollar bills
The United States Central Bank, the Federal Reserve, have said new $100 bill which has been redesigned with high-tech security features will be circulated throughout America in October.
The revamped note includes added security features to...
US manufacturing sector grew at its slowest pace in six months
The US manufacturing sector’s growth was at its worst in six months during April.
According to Research Firm Market, the Purchasing Manager’s Index fell from 54.6 to 52, slightly above the 50 level, marking the line between growth and contraction.
Chris...
Indian companies accused by US Senator of abusing H-1B visas
Senator Richard Durbin, during a Congressional hearing on immigration reform by the Senate Judiciary Committee on Monday, accused big Indian IT companies-TCS, Infosys and Wipro- of abusing the H-1B visa system.
“These outsourcing firms...
Iran to export oil to North Korea
Iran is considering signing an oil deal with North Korea on the export of oil in an attempt to revive its economy shattered by the tough sanctions from the West
A delegation from North Korea’s oil ministry is currently visiting Iran to mull...
Greek debt is containable, says the troika
The troika, which includes the European Commission, the European Central Bank and International Monetary Fund (IMF), has said Greece will return to growth in 2014 after the release of the next tranche of financial support.
The troika recently...
Gold price falls to its lowest amid diminishing inflation
The price of gold has fallen 9.1% to USD 1,395 an ounce, its lowest in two years, amid fears that high inflation is to recede.
Some analysts said that the decline may have been triggered by the investors expecting the US central bank to tighten...
Data on bond purchases by Bank of Cyprus missing
Investigators have found that key data about bond purchases by bank of Cyprus are missing, with gaps discovered in computer records for the period 2007-2010.
Whether the mass deletion of data was deliberate or accidental is not yet clear.
The...
