Singapore economic growth will be affected as the countries due to the aftereffects of the downgrading of the US credit rating by Standard and Poor's and even the other major economies have been besieged under the debt and growth problems.
Recent reports have revealed that Rio Tinto, the mining firm has won an official approval by the Government of Western Australia for continuing the initial phase of the iron ore expansion project at the Pilbara region. This huge project includes a sum of $3.9 billion.
While addressing audience during observance of a joint session of Congress, the President of the United States, Barack Obama raised question about the constant and significantly growing national crisis and said stressed on the need of some efficient measures to support the economy although, confessed helplessness to completely stop the political crisis.
In an independent review, Chemical company Orica has shared the actual cause of the chemical leakage accident occurred last month on August 8. Done by consulting firm Johnson Matthey, the embattled company had been under scanner to ensure that accountability is being set, lack of which is believed to have triggered the leak of hexavalent chromium from Orica's ammonium nitrate plant at nearby Kooragang Island.
It seems that the fears of the Australian Competition and Consumer Commission (ACCC), revolving green signal for the deal between grocery wholesaler Metcash and, the Franklins supermarket business could monopolies Metcash’s position, are coming true. It has been reported that the acquisition bid worth $215 million by Metcash has been accepted, though the ACC has made it clear that it would challenge the deal in Federal Court.
Europe’s largest economy, Germany, is reported to have managed to achieve the inflation of 2.4% in the month of August, as per the national statistics office.
Perhaps the inflation is driven from increase in the cost of energy and not to forget, petroleum prices, which recently, faced lot of uncertainties due to running political crisis in Arab nations.
It's raining money in the region my dear. You can say that, these days, people have far more cash than they can spend, or even think about spending, so to speak.
The standard interest rate of the Bank of Korea (BOK) has remained 3.25% since June as the US and Europe still remains under the burden of uncertain debt and growth problems.
Monetary Policy Board Members and Governor Kim Choong-Soo had announced the rate to remain unbothered. Earlier the rate had witnessed a 25 basis points (bps) change in June following the same change in March and January.
Indian Prime Minister Manmohan Singh and Bangladeshi Prime Minister Sheikh Hasina met to sign the Bengal tiger conservation deal.
Asian stocks boosted as the inventors favored the stocks based on international economic development and the exporters of Japan were eased by the fall of Yen.