NICOSIA, Cyprus— Rating agency Standard& Poor's gave Cyprus a pat on the back with a one notch upgrade to its credit grade, to B+, citing its commitment to the terms of its bailout program and better-than-expected economic growth. It hailed Cyprus' strong budgetary performance and projected a shallower recession this year. The agency said Friday that it expected...» Read More
PTT Exploration and Production, the subsidiary of PTT, may be still holding out its bid for Mozambique-focused oil and gas explorer Cove Energy, but one analyst says the acquisition is a bad idea for the Thai oil company because it would hurt its balance sheet.
India’s Prime Minister Manmohan Singh, credited with turning around the economy in the 1990s, is once again fully in charge of economic policy and experts say there is growing urgency to deal with the deteriorating economy.
Despite recent data suggesting that China’s economy is cooling faster than economists expected, one analyst says consumer sentiment in the world’s second biggest economy remains strong, which will in turn boost domestic industrial and consumer stocks.
Import growth in the world’s second largest economy decelerated sharply in June, but economists tell CNBC that the slowdown is temporary and forecast a pick-up by the fourth quarter driven by recent policy easing.
China’s latest inflation numbers suggest the economy is cooling faster than economists expected, but the drop in producer prices by a steeper-than-expected 2.1 percent in June could provide a boost for corporate margins according to experts.
Most Asian economies from Indonesia to India will deteriorate in the second half of the year because demand from both domestic and foreign buyers will weaken, according to Nomura. The exception is China, where monetary easing and fiscal policies are already starting to take effect and will help its economy rebound in the third quarter.
The rate cuts from three major economies on Thursday may have dominated headlines, but it did little to inspire confidence in global stock markets, which fell as investors took the move to mean the world economy remains in trouble.
China’s unexpected cut in interest rates – the second in less than a month – suggests that the world’s second-biggest economy is in worse shape than it appears and the government is getting worried about growth prospects ahead of the release of key economic data next week.
Speculation over whether China’s central bank will cut the reserve requirement ratio (RRR) for lenders as early as this weekend heightened on Thursday after local media reports urged the People’s Bank of China (PBoC) to act to boost liquidity and spur economic growth.
The European Central Bank needs to go beyond lowering interest rates – which has already been priced in by markets – to boost growth and authorities may be better off ramping up their asset-purchasing programs instead, economists tell CNBC.
A surprise contraction in U.S. manufacturing activity in June has raised the prospects of a worsening slowdown in the U.S., but one economist says the economy may actually be showing signs of bottoming out.
Even as China’s manufacturing activity hit seven-month lows, a further sign of a slowdown in its economy, economists do not see major stimulus measures similar to the massive 4-trillion yuan ($629.6 billion) stimulus package it passed in 2008.
Easing inflation and weak economic data out of key export destination China, is unlikely to push Australia’s central bank to cut interest rates at its next meeting on Tuesday.
While foreign demand for Japanese government debt is rising, analysts warn that a" mother of all bubbles" may be brewing in this safe haven asset.
Indonesian property stocks have fallen 18 percent this year from their peaks, but one of the country's biggest property developers, Lippo Karawaci says the real estate sector is in its prime.
Germany’s resistance to a banking union and stimulus measures is in the way of a solution to Europe’s debt crisis, and could turn this week’s meeting of the region’s leaders into a “fiasco”, according to billionaire investor George Soros.
Commodities bulls may have finally “thrown in the towel,” Marc Faber, the editor and publisher of the Gloom, Boom and Doom report told CNBC, after commodities suffered their biggest one-day fall this year on Thursday.
Asian markets fell on Thursday amid growing worries about global growth after China’s factory sector contracted for an eighth straight month, with economists telling CNBC it’s time for Asian policymakers to do more to boost growth.
The Federal Reserve’s monetary easing has reached its limit and it is now time for the government to put fiscal policy to work, according to Robert Heller, a former governor of the U.S. central bank.
The U.S. central bank will most likely ease monetary policy when it meets this week as recent data point to a worsening labor market and the crisis in Europe intensifies, Goldman Sachs said.
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