Global Business & Economy
Thursday, 09 May 2013 02:55
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NEW YORK: US Treasuries prices rose on Wednesday, ending a three-day losing streak as yields near the upper end of their recent range drew some buyers.Gains were posted even though the US Treasury's $24 billion sale of 10-year government debt got a tepid reception.The Treasury will sell 30-year bonds on Thursday in the final leg of its three-part refunding. It sold three-year notes on Tuesday.Longer-dated yields rose to three-week highs in early trade on surprisingly strong Chinese and German economic data that soothed concerns about a global slowdown.But the higher yields, along with comments from a top European policymaker on limiting future stimulus, revived a bid for bonds."We got to the higher end of a short-term trading range - the top part of that range between 1.55 percent and 1.81 percent on the 10-year yield," said Wilmer Stith, portfolio manager at the Wilmington Broad Market Bond Fund in Baltimore, Maryland. ...
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BRUSSELS: The European Commission proposed Wednesday what an EU source said was an urgently needed anti-dumping levy on imports of Chinese solar panels, allegedly unfairly subsidised by a government that has retaliated in kind to similar moves.The Commission, the EU's executive arm, is now canvassing member states to see if they agree with a provisional heavy tariff of 47 percent, the source said."The consultation process has been launched," the source said, adding that the Commission ...
MOSCOW: He is one of a few people who can stand up to Vladimir Putin, but even Russia's former finance minister failed to persuade the president his economy's problems lie at home not abroad.When Alexei Kudrin took Putin to task live on television during the president's annual question-and-answer session and said the economy was tanking because of a poor business climate in Russia, Putin brushed off the criticism - jokingly calling Kudrin a "slacker" for ...
TOKYO: Japan's Ministry of Agriculture said it received no bids to buy imports of feed wheat or feed barley in a tender issued under the simultaneous buy and sell (SBS) system that closed on Wednesday.The ministry had sought to find takers for 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley imported from abroad. Under the SBS system, Japan's end-users can negotiate the origin, price and quantity of grains with trading companies prior ...
BRUSSELS: The European Commission agreed on Wednesday to impose punitive import duties on solar panels from China in its boldest move yet to protect against what it sees as Chinese dumping of cheap goods on the European market.EU Commissioners backed EU Trade Chief Karel De Gucht's proposal to levy the provisional duties by June 6 and make Chinese solar exports less attractive in Europe, two officials said, confirming news first reported by Reuters.Shares in German ...
CAIRO: Egypt's newly appointed Planning Minister Amr Darrag said on Wednesday that the government was targeting economic growth of 4.1 percent in the fiscal year that will begin on July 1.The government had previously been predicting gross domestic product growth of 3.8 percent.Darrag, a member of the Freedom and Justice Party of President Mohamed Mursi, is expected to take a leading role in Egypt's negotiations for a $4.8 billion loan from the International Monetary Fund. ...
WELLINGTON: A housing boom in New Zealand's largest cities threatens to destabilise the country's financial system, the central bank warned Wednesday.The Reserve Bank of New Zealand said low interest rates and improving sentiment in global financial markets had resulted in a rise in household credit over the past six months, fuelling the property market.It said the problem was worst in New Zealand's biggest city Auckland, where house prices are near record levels, and Christchurch, where ...
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