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London 2012 boosts British economy by 10 bn pounds

Friday, 19 July 2013 21:25
London: The British economy received a 9.9-billion-pound ($15 billion) boost due to trade and investment from the 2012 London Olympic and Paralympic Games, the government said Friday.The UK Trade and Investment (UKTI) and Department for Business, Innovation and Skills said…

Chrysler to recall 60,720 vehicles in China

Friday, 19 July 2013 13:05
Beijing: US automaker Chrysler will recall 60,720 vehicles exported to China to fix various problems that could pose safety risks, China's top quality watchdog said Friday.The recall affects 49,754 Chrysler's Compass and Patriot vehicles manufactured between Oct 14, 2009 and…

South Korea's corporate bankruptcies fall

Friday, 19 July 2013 13:02
Seoul: Corporate bankruptcies in South Korea fell to a record low last month as local financial institutions eased lending attitude toward small businesses, central bank data showed Friday.The number of companies that went belly-up decreased 13 from a month earlier…

US petroleum demand down

Friday, 19 July 2013 13:00
Washington: The overall petroleum demand in the US edged down in June, said a leading industry group in a report.The total petroleum deliveries, a measure of demand, fell one percent in June from a year ago to average just above…

Brazil to keep raising interest rate in 2013

Friday, 19 July 2013 12:38
Brasilia: Brazil's Central Bank has said it would continue raising the basic interest rate this year.It was stipulated in a document issued at last week's Monetary Policy Committee (Copom) meeting, when the rate was raised from 8 percent to 8.5…

Japan, Myanmar discuss economic cooperation

Friday, 19 July 2013 12:35
Yangon: Japan and Myanmar have discussed bilateral economic cooperation in agricultural sector in Nay Pyi Taw, official media reported Friday.The meeting on cooperation in agricultural sector was held Thursday, attended by a Japan-Myanmar goodwill delegation and led by Minister for…

Moody's raises outlook on US sovereign rating to stable

Friday, 19 July 2013 12:34
New York: Global rating agency Moody's Investors Service has lifted its outlook on the US government bond rating to stable from negative and reaffirmed the US government's Aaa rating.The move was based on the assessment that the federal government's debt…

Venezuela vice president in China to talk trade

Friday, 19 July 2013 11:58
Beijing: Venezuelan Vice President Jorge Arreaza Thursday kicked off an official visit to China with several meetings with top political and financial leaders."We have the region's most significant natural resources despite not being that big of a country: the world's…

Bernanke says recent financial tightening `unwelcome'

Friday, 19 July 2013 11:58
Washington: US Federal Reserve chairman Ben Bernanke Thursday said recent financial tightening which is associated with the rise in interest rates is "unwelcome".In his testimony to the Senate Banking Committee, Bernanke said there are three main reasons for the rise…

South African inflation to rise this year: Central bank

Friday, 19 July 2013 11:56
Pretoria: The South African Reserve Bank announced it had revised up its inflation forecast for this year owing to volatility pressures.Gill Marcus, the governor of the South African Reserve Bank, made the announcement Thursday as she released a monetary policy…