Front Page: EC chief: eurozone collapse would wipe out half of Europe’s economy

11th November 2011

BRICS

 

Brazil Has World's Sixth Largest Economy

Brazil is set to become the world's sixth economy by the end of 2011, if projections by the International Monetary Fund (IMF) and two leading economic consultancies, the EIU and the BMI, are correct. The Rio Times

 

China's Oct foreign trade drops 8.3% from Sept

China's foreign trade in October this year fell 8.3 percent from September to $297.95 billion but still rose 21.6 percent year-on-year, according to GAC data. China Daily

 

Car sales drive Russian imports up

Russian car sales skyrocketing by 27% in October compared to the same period in 2010 with more demand pushing imports higher. Russia Today

 

Food inflation falls to 11.81%

Food inflation declined marginally to 11.81 per cent in the week ended October 29, but the slight moderation in the rate of price rise provided little respite to consumers. Times of India

 

Bank holds rates steady with an eye on inflation

Reserve Bank dwells more on the risks to the inflation outlook than the threat slower global growth posed to South Africa's economy. Business Day

 

Developed Markets

 

Bundesbank sees increasing risks for German banks

Risks for German banks from the eurozone debt crisis are increasing, but recent efforts to strengthen capital resources meant those risks were still manageable, the Bundesbank said Thursday. The Local

 

Toyota, Mitsubishi to resume Thailand production

Japanese auto giants Toyota and Mitsubishi Motor have said they will resume production in Thailand after the country's flood disaster closed factories for more than a month. Japan Today

 

EC chief: eurozone collapse would wipe out half of Europe's economy

José Manuel Barroso warns collapse of eurozone would send continent spiralling into depression, as head of eurozone crisis fund Klaus Regling calls on debt-ridden Italy to act swiftly to reassure markets. The Telegraph

 

Frontier Markets

 

Kenyan broadcasters have only days for new licences

Over 26 broadcasters have until Tuesday to apply for new licences or risk losing their frequencies, the Communications Commission of Kenya says. Daily Nation

 

Gas exporters meet in Doha as euro turmoil hits demand

Gas exporters meeting in Qatar next week are unlikely to come up with a plan to protect against a looming eurozone led demand drop which threatens to reverse any improvement in gas sales since Japan's nuclear crisis. Gulf-Times

 

Fenech says 3% deficit target is ‘clear target' for government

Finance minister Tonio Fenech said the reduction of the country's deficit to 3% of GDP was attainable, in a statement released after European Commissioner Olli Rehn said Malta and four other member states had to speed up their deficit cutting measures. Malta Today

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