*OPEC output rises in Aug from July- survey. *Russian troops enter Ukraine, tensions flare. SINGAPORE, Aug 29- Brent crude held above $102 a barrel on Friday, but prices were heading for a second monthly loss as ample supply and softening demand in Europe and China outweighed geopolitical concerns.» Read More
Germany and France publicly clashed on Tuesday over plans to put the European Central Bank in charge of supervising banks, deepening a dispute over the scope of the ECB's powers that threatens to undermine one of Europe's boldest reforms.
Greece has hired Deutsche Bank and Morgan Stanley to conduct a voluntary buy back of its debt, a senior finance ministry official told Reuters.
Greece’s international lenders once again failed to reach an agreement on how to bring down its debt levels, delaying the release of vital aid to Athens and pushing the euro lower. Yet all is not lost for Greece and the single currency, analysts told CNBC.
The euro, which hit a two-month low against the dollar on Tuesday as hopes that Greece would receive essential aid soon, faces further losses as concern about Greece’s future grow, currency analysts warn.
The state’s grip on the economy has been tightening. Could foreign pressure persuade the new leadership to reverse course?
Will they or won’t they? That’s the big question markets have been asking about Spain for the past few weeks—whether the country will ask for a credit line from Europe’s rescue fund and trigger a bond-buying program by the European Central Bank (ECB).
Malaysia, which refused bailout from the International Monetary Fund (IMF) during the Asian financial crisis, says Greece should be given more time to implement reforms and clean up its finances, otherwise an overly-stringent austerity drive could push the country into a prolonged recession and make recovery even more unlikely.
A dispute between the U.S. and China over illegal trade practices, which has sparked worries over a potential trade war between the world’s two largest economies, has “more bark than bite”, according to the World Trade Organization’s (WTO) Director General Pascal Lamy.
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.
China’s dominance over rare earths supply could be challenged in the coming years as investors pour money into exploration outside China, says the CEO of Canadian rare earths miner Quest Rare Minerals.
A day after the United States, the European Union and Japan filed a joint complaint to the World Trade Organization against China’s export restrictions on strategic rare earth metals, the President of exploration firm U.S. Rare Earths tells CNBC that the trade case will not help solve current supply issues.
The World Health Organization recently released a report on air quality in countries around the globe, on which we based a list of the ten most polluted countries.
The US and Japan “have yet to produce credible medium-term plans” to stabilize their debt, while other countries need to provide more clarity on how their fiscal consolidation targets will be met, according to the Organisation for Economic Cooperation and Development’s 2011 Economic Outlook, which says that risks to the global recovery remain significant.