The leaders of Germany, France, Italy and Spain agreed yesterday on a 130 billion euros ($156 billion) package to try to revive economic growth in Europe but differed over whether and how to launch joint bonds to combat the euro zone's debt cr
The downturn in the euro zone's private sector is becoming entrenched and Chinese factories are finding the going tough, business surveys showed yesterday, painting a darker outlook for the world economy.
US manufacturing grew in June at i
German imports tumbled at their fastest rate in two years in April and exports fell, adding to evidence that Europe's largest economy is beginning to feel the chill from the euro zone debt crisis.
But while Germany has struggled to find bu
The Mena region faces headwinds amid economic crisis, but should be able to manage 3.5 per cent growth in GDP as domestic demand returns, said Saxo bank, an online trading and investment specialist, in its outlook for 2012.
The debt-stricken euro zone was back in the firing line yesterday after last week's EU summit deal afforded only a brief respite and leaders warned of a two-speed Europe.
Ratings agency Moody's was first to turn the screw. It declared the
France and Germany planned to lobby conservative European leaders on Thursday to back a plan to defuse the euro zone's debt crisis, as Europe's central bankers began a crucial meeting hours before a high-stakes EU summit.
Paris and Berlin
Standard & Poor's fired a second warning shot at the euro zone in 24 hours on Tuesday, threatening to cut the credit rating of its financial rescue fund as European leaders raced to find a political solution to their sovereign debt crisis.
The euro faces a decisive week as European Union (EU) leaders, urged on anxiously by the US, seek agreement on the definitive rescue plan that has eluded them for two years.
Despite short-term market optimism about a possible deal to tackl
Drugmakers are counting the cost of the deepening euro zone crisis, with further austerity-driven price cuts expected in important European markets, including Italy and France, said experts.
Growing alarm at multiple government-imposed cut
International bankers and European Union officials made no progress in securing a private sector contribution for a second bailout of Greece and bond yields climbed on concern about the scheme.
The managing director of the Institute of Int