Front Page: Business chiefs

4th November 2011

BRICS

 

Economy looms over G20 summit

CANNES, France – President Hu Jintao called for reform of the international monetary system in a speech at the G20 summit that convened on Thursday. China Daily

 

Services sector shrinks to 2 ½-yr low

India's service sector contracted for a second straight month in October, as new business grew at its weakest pace since May 2009, a survey showed on Thursday, dragged by sagging global demand and tight monetary policy. Times of India

 

Russia ready for WTO compromise

Russia is ready for a compromise solution to its longtime bid to join the WTO, President Dmitry Medvedev told reporters on the sidelines of the G20 summit in Cannes. Voice of Russia

 

Dilma: Brazil is ready to help boost the IMF

President stressed that the country is able to help Europeans in crisis. Jornal do Brasil

 

Business confidence beats a steady retreat

An uncertain economic outlook and lack of supportive policy measures were blamed for the latest fall in the business confidence index compiled by the South African Chamber of Commerce. Business Day

 

Developed Markets

 

George Osborne: Britain won't 'go out on a limb' with cash for IMF

Britain will not "go out on a limb" in pumping extra cash into the International Monetary Fund to help restore the health of the global economy, the Chancellor said. The Telegraph

 

Tokyo stocks close up 1.86% on eased Greece fears

Tokyo stocks closed up 1.86% Friday, with confidence boosted by a European interest rate cut and Greece's decision to back away from its plan for a referendum on last week's eurozone rescue deal. Japan Today

 

Greek Leader Calls Off Referendum on Bailout Plan

Prime Minister George A. Papandreou's decision to abandon a popular vote on Greece's new debt deal with the euro zone did not end the country's political turmoil. New York Times

 

Frontier Markets

 

Government sets ceiling for 2012 budget deficit

A government circular on Thursday set 5.6 per cent of the gross domestic product (GDP) as a ceiling for the 2012 budget deficit. Jordan Times

 

Business chiefs ‘must lead way to economic stability'

The spectre of global meltdown and growing calls by experts to re-define the operating systems of the world economy make it imperative for the business community to take the lead in formulating policies, chief of the Qatar Chamber of Commerce and Industry has said. Gulf Times

 

Visitors from new markets boost Kenyan tourism

The high number of holidaymakers from non-traditional markets – Eastern Europe and Asia – has boosted tourism at the Kenyan Coast. Daily Nation

 

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