Eurozone central banks may decide on loans worth $201bn via IMF

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Source: Bloomberg

European officials could agree on 150 bn euros ($201 bn) channelled through IMF to provide fresh financing source to tackle crisis, told EU diplomat. Euro region governments expect during the summit to get an affirmation from other non-euro countries to contribute extra 50bn euros. European leading economy Germany has not stated its position on the proposition. 

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Fri, 09 Dec 2011 06:09:27 GMT

US Senate blocks proposal to extend payroll tax reduction

The US Senate blocked a Democrat's motion to prolong a workforce tax cut for employees in 2012 and compensating it by the cost by enforcing a 1.9% levy on revenue exceeding $1 million. The proposal failed as 50 voted for and 48 against. The bill had a shortage of 60 votes. The legislature would have reduced payroll tax from 4.2% to 3.1% on the first $110,100 of

Thu, 08 Dec 2011 20:28:43 GMT

South Africa manufacturing output slows in October

South African production growth declined in October to 1% or significantly more than was previously predicted by economists. The deepening debt turmoil in Europe which accounts for about one third of South African produced goods has seriously undermined countries exports. Hampering output may force Gill Marcus, the Governor of Reserve Bank to leave key lending rate at 5.5% or 30-year record low.

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