German factory orders drops 1.9% in January

Source: Businessweek

Factory orders in Germany unexpectedly decreased in the month of January as the huge amount of debt in Europe weakened the demand for the shared currency, the Economy Ministry in Berlin showed in a report on Thursday. German factory orders dropped at the seasonally adjusted 1.9% in January compared to predictions of a 0.6% rise, following a 1.1% gain the month before.


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Thu, 07 Mar 2013 14:24:03 GMT

Taiwan export goes down 15.8% in February

Taiwan's export dropped notably in the month February mainly due to a steep decline of electronics, basic metals and chemical product shipment, a report released by the Ministry of Finance showed on Thursday. The export rate decreased by 15.8% in February, much more than was initially forecast at 8.1%, at the same time, imports fell 8.5% annually exceeding the expectations

Thu, 07 Mar 2013 15:51:05 GMT

Swiss central bank spends $199 billion in 2012 on foreign currencies

The Swiss National Bank (SNB) spent nearly a third of the country's gross domestic product, 188 billion francs ($199 billion), in 2012 in order to enforce the currency cap to protect the economy, the bank showed in its Accountability Report on Thursday. The Swiss central bank's decision to maintain the floor of 1.20 francs per euro has helped the country

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