Archive for the ‘Economy News’ Category
G-8 leaders began talks Friday in Muskoka, Canada, north of Toronto.
U.S. officials stated that the leaders of major industrialized countries in the world closer to achieving consensus on how to prevent the global economy slipped back into recession.
Leaders from the Group of Eight (G-8), including U.S. President Barack Obama, German Chancellor Angela Merkel and French President Nicolas Sarkozy, to start talks on Friday in Muskoka, Canada, north of Toronto.
President Obama has been urging countries to stimulate economic growth, while European leaders have focused attention on the financial responsibility. U.S. officials said that despite the differences, the talks had produced “the meeting point of view.” Read the rest of this entry »
Recent study from Boston Consulting Group found the global wealth rose 11.5 percent in 2009, to U.S. $ 111.5 trillion.
If referring to assets in the form – cash deposits, money market funds, and listed securities – United States continues to lead with more than 4.7 million “millionaire family” then, followed by Japan and China.
The number of millionaires in China is soaring along with the continued growth of the domestic economy of this country. Although other countries in crisis, China can still rely on the domestic economy with a lucrative market.
Singapore, a country with a population of about 5.1 million inhabitants, has the largest proportion of millionaire families, i.e. 11.4 percent of the total population.
BCG estimates that the family fortune may have returned to levels before the crisis last year, although confidence in the economy is still not completely recovered. BCG estimates that the global family wealth grew an average of 6 percent per year to 2014, led by the powerful countries in the Asia-Pacific region.
Here is a list of countries with the most millionaires in the world.
The order of 10-10 read here
11. Canada
Population: 33.7 million
Number of millionaires: 162 thousand
Increase: 4.8 percent
Contribute to the total wealth of the population: 20 percent
Read the rest of this entry »
Spain and Portugal, possibly a warning to Greece to avoid the impact of the crisis in the economy since the two countries were also experiencing soaring budget deficits.
Two days after European governments to allocate funds to the financial system worth U.S. $ 1 trillion, the Prime Minister of Spain Jose Luis Rodriguez Zapatero, yesterday, announced the largest budget deficit reduction since last 30 years.
Meanwhile, in Portugal, Finance Minister Fernando Teixeira dos Santos revealed his side prepares to face social pressure after the announcement of the additional deficit cuts policy.
Policy makers in the euro area is running a policy to improve market confidence, although trade unions urged the government does not allocate the aid in the form of a loan to Greece.
A number of economists said the EU had to act to help countries experiencing a deficit to the impact of the failure of the government’s financial system did not spread to the entire region. Zapatero cut wages by 5%.
“The crisis today is used as a chance to announce cut in the budget deficit. Currently the euro area need not call moral moral mistake, “said Erik Nielsen, Chief European Economist, Goldman Sachs Group Inc. in London.
Spanish bond yields on two-year duration decreased by 12 basis points to 1.861%, yesterday, after rising by 3.14% last week. Portugal showed the addition of a request from the sale of duration of 10-year bonds with a total value of U.S. $ 1.3 billion (1 billion euros).
EU bail-out strategy which is still half-hearted response by the investors also caused to drop in general prices of commodities markets.
Commodity index Reuters / Jefferies (CRB index) in trading today (11-05) opened a gap down yesterday after trading closed lower at approximately -0.24%.
Also returning investor worried about the global economic recovery process, so that crude oil prices also declined. Light Sweet Crude oil prices on the New York Mercantile Exchange observed weakening again.
Light Sweet Crude oil prices was observed to decrease by approximately -1.56% at today and traded at around 75.81 USD / bbl.
Research Vibiz analyst from Vibiz Consulting propose one that one the investor concerns that shaken the commodity markets are the occurrence of potential of moral hazard that can represent a very significant factor in creating Europe economic hollow.
Concerns were also impacted the increase in investor interest to the save haven assets like gold. Gold in the spot market price was observed to have increased approximately 1:16% at night, and traded at around 1215.80 USD / troy oz.
Entering this May the problem of Greek debt crisis is still the main concern of public investors in the country where the ability to handle the crisis will become a benchmark in assessing the overall European economy.
Greek debt crisis has a sufficiently large dimension, where the fiscal problems of the country responded to the social frictions that increase negative sentiment for the possible recovery of the country in the near future.
With a total public debt of about 300 billion Euros and exacerbated by the country’s debt rating lowered causing fiscal problems of the Greek government to face a heavy burden.
Research Vibis Analyst from Vibiz Consulting revealed that related to the foregoing, the bail out of the European Union and the International Monetary Fund (IMF) is expected to provide positive sentiment on the economy of Europe.
Where it has the potential to strengthen the euro against other major currencies, where there is indication that the technical movements of the Euro in the range of support that is strong enough.
Euro Index on the trade this week, moving down approximately -0.22%, and the pattern of movement of the Euro showed a potentially defensive pattern continued with the strengthening of the index over the Euro.
Japanese Yen currency movements on these days was observed to tend to move higher against other major currencies, especially against the Euro, Pound Sterling and U.S. Dollars.
In the USD / JPY pair the back of Yen began to show potential muffled of U.S. Dollar rally against those currencies.
While against the Euro and pound sterling, yen tends to show a continuing pattern of pressure against the second yen currency.
The tendency of strengthening of the Yen in the second half of this year estimated the impact of the strengthening economic fundamentals of Japan signaled it along with the increasing optimism a global economic recovery.
Vibiznews analysts from Vibizconsulting suggested that Japan’s economic recovery is still a significant factor in the increased of investors optimism against the Yen.
In trading the currency pair USD / JPY last week after opening at around 93.07 yen has gained around 115 points, or around -1.24%.
As for the GBP / JPY Yen trading at around 143.65, which opened at the opening ceremony, continued with the strengthening yen around 310 points, or about -2.16%.
Similarly to the euro in pair EUR / JPY is trading at around 127.10 yen opened at the opening and has gained about 319 points, or about 2:51%.