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Japan’s jobless rate rose for a second month and retail sales dropped, underscoring the challenge for incoming Prime Minister Yoshihiko Nodain securing Japan’s recovery from the March 11 earthquake. The unemployment rate rose to 4.7 percent in July as payrolls fell by 40,000 from a month earlier, the statistics bureau said today in Tokyo. Retail sales slid a seasonally [...]
Record gold prices, rather than denting China’s enthusiasm for bullion, have emboldened investors to plough more money into gold bars and riskier bullion-based derivatives. August is traditionally a slow month for Chinese jewelers, but many shops in Shanghai visited by Reuters reported surprisingly solid gold sales over the last few weeks, with shoppers unfazed by [...]
Gold regained strength on Tuesday as bargain hunting resurfaced after prices dropped more than 2 percent in the previous session, but higher equities and easing worries about recession in the United States could limit gains. The physical market saw demand from Jewelers as prices remained below all-time highs, while main consumer India was expected to [...]
The newly appointed Governor of the State Bank of Vietnam, Nguyen Van Binh, has vowed to force the interest rates down to 17-19 percent per annum. Commercial banks are drawing up a plan to meet the commitment. Commercial banks have offered new credit packages specifically designed for production businesses, importers and exporters, and the enterprises [...]
The policy on equitizing foreign invested enterprises (FIEs) is being reconsidered, after experts gave warnings about the foreign capital withdrawal through the equitization, which may cause bad impacts on the national economy. The Decree 38 promulgated in 2003 once set up strict regulations on the equitization and share listing of FIEs, which were established [...]
American employers added more jobs than forecast in July and wages climbed, easing concern the world’s largest economy is grinding to a halt. Payrolls rose by 117,000 workers after a 46,000 increase in June that was larger than earlier estimated, the Labor Department said today in Washington. The median estimate in a Bloomberg News survey [...]
European Central Bank President Jean- Claude Trichet may be forced to step up his fight against the sovereign debt crisis after a resumption of bond purchases yesterday failed to halt a rout in Italy and Spain. Over opposition from Germany’s Bundesbank, Trichet yesterday sent the ECB back into bond markets as yields on Italian and Spanish yields [...]
China, which led the rebound from the global recession in 2009, may have limited room to counter weakening growth in the U.S. and Europeas inflation restrains policy makers from loosening monetary policy. Consumer prices rose 6.4 percent in July from a year earlier, according to the median forecast in a Bloomberg News survey of 25 economists. [...]
Chairman Ben S. Bernanke and his Federal Reserve colleagues are preparing to meet next week as two-year Treasury yields near a record low signal a U.S. economy on the knife’s edge between growth and contraction. Guiding their assessment of the outlook for the world’s largest economy will be forecasts contained in the so-called Teal Book, a confidential staff report [...]
In a year when stocks around the world are getting cheaper, Indonesian shares are growing more expensive as surging profits lure Asia’s biggest investors. The Jakarta Composite Index’s 11 percent advance this year lifted its valuation to 15 times estimated profit, the highest level among 45 benchmark stock gauges tracked by Bloomberg and a record 36 [...]