April 10, 2013
Barack Obama unveils $3.77tn budget plan
US President Barack Obama has unveiled a $3.77tn (£2.4tn) budget that proposes fresh taxes on the wealthy along with cuts to benefit programmes. The White House is offering to trim pensions and healthcare costs, but only in return for $700bn in…
April 10, 2013
WTO cuts 2013 trade growth forecast
The World Trade Organization (WTO) has cut its trade growth forecast for 2013 because of risks from the eurozone crisis and from greater protectionism. Global trade is now expected to grow by 3.3% this year, the WTO says, down from its earlier…
April 10, 2013
Brussels warns on Spanish and Slovenian ‘imbalances’
UK hourly labour costs have fallen nearly two euros (£1.7; $2.6) below the EU average, data from the EU's statistics agency Eurostat show. The EU average in 2012 was 23.4 euros hourly - and in the UK it was 21.6. Eurostat calls the figures…
April 10, 2013
Jamaica to Receive $200 Million More from IMF
Jamaica is set to receive some US$200 million more in financial assistance under the International Monetary Fund (IMF) agreement, than initially anticipated. A statement by the lending agency on Monday, April 8, noted Jamaica’s progress in the…
April 9, 2013
Dominican Republic woos China, but Taiwan ties loom large
Dominican Republic can be the gateway for Chinese products to U.S. and European markets, due to the Caribbean country’s free trade agreements with both regions, said Economy minister Temistocles Montas, who’s visiting the Chinese capital today.…
April 9, 2013
Taiwan plastics heir sues over ‘$15 billion in Bermuda trusts’
The Bermuda Supreme Court must decide a case that involves one of Taiwan’s largest companies and a family fortune worth billions held in trusts on the Island. Winston Wong, the son of Formosa Plastics Group’s late founder Wang Yung-ching, has sued…
April 9, 2013
Government auction of bonds under-subscribed – treasury bills over-subscribed
Grenada’s recent default on an international bond and uneasiness in the long-term capital market have been blamed for St. Vincent and the Grenadines being unable to successfully auction an EC$40 million (One EC dollar = US$0.37 cents) 10 year-bond.…
April 3, 2013
Cyprus bailout: Finance Minister Michalis Sarris quits
Cypriot Finance Minister Michalis Sarris has resigned as a judicial panel prepares to investigate the role that he and others played in a financial crisis that pushed the eurozone member to the brink of bankruptcy. Sarris submitted his resignation…
April 3, 2013
Eurozone unemployment rate at record high
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April 3, 2013
US factory orders rise thanks to aircraft sales
New orders at US factories rose in February from January mainly due to a jump in demand for commercial aircraft. Orders for aircraft nearly doubled, and orders for motor vehicles and parts also increased by 1.4%. The Commerce Department said…