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Bulgaria will apply in November to join the exchange-rate mechanism, the European Union’s two-year currency stability test before the country can drop the lev and adopt the euro, Finance Minister Simeon Djankov said.
“We have already started preparing the necessary documentation to apply to join ERM in November,” Djankov said in an interview in […]
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President Barack Obama sought to reconcile improving economic data and his own sagging poll ratings by telling Americans that many are still struggling even as an end to the recession may be near.
The president opened two events yesterday outside Washington designed to focus on health care with a defense of his economic policies, […]
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Japan’s retail sales fell for a 10th month in June, extending the longest losing streak since 2003 as job losses and wage cuts forced households to trim spending.
Sales slid 3 percent from a year earlier, the Trade Ministry said today in Tokyo. Economists surveyed by Bloomberg News predicted a 2.5 percent drop.
The […]
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The International Monetary Fund, which has mounted rescues from Iceland to Ukraine in the past year, approved a loan of about $2.5 billion to Sri Lanka, the country’s ambassador to the U.S. said in an interview.
The IMF earlier this week said it reached a staff-level agreement for a stand-by loan to help the […]
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Singapore’s industrial production fell for the first time in three months in June as electronics and chemicals output dropped and a surge in pharmaceuticals manufacturing eased.
Manufacturing, which accounts for about a quarter of Singapore’s economy, declined 9.3 percent from a year earlier following a revised 2.1 percent gain in May, the Economic Development […]
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Australia’s economy is better than the central bank forecast a few months ago, helped by exports to China, the lowest borrowing costs in half a century, and government spending, said Assistant Governor Guy Debelle.
“Stimulus to our economy has been effective and we’re seeing some benefits from that,” Debelle said at a business luncheon […]
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Asia’s export-dependent nations may see their recoveries falter in the second half of the year as overseas demand remains subdued, economists said.
“Recovery in Asia does not look especially durable,” said Michael Taylor, a senior economist at Lombard Street Research Ltd. in London. “Sustainable Asian growth still depends on a global recovery lifting demand […]
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The U.S. won’t see a return to “full” employment for another six years, helping to hold down inflation, according to former Federal Reserve Governor Laurence Meyer.
“I think there’s going to be a long legacy of the financial crisis and the deep recession,” Meyer said in an interview today on Bloomberg Radio. Meyer, who […]
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Federal Reserve Chairman Ben S. Bernanke will brief Chinese officials at a summit this month about how the U.S. plans to keep inflation in check over the next few years, according to people advised on the plans.
David Loevinger, a U.S. Treasury official coordinating the meeting, told business lobbyists and lawyers in Washington yesterday […]
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New Zealand’s long-term sovereign credit rating outlook was cut to negative from stable by Fitch Ratings, which said it is concerned by the economic outlook and the size of the nation’s current account deficit.
The deficit is large and projected to remain above the level necessary to stabilize and reduce net debt, Ai Ling […]
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