Chinese government to support first time home purchasers

Source: Marketwatch
People's Bank of China is preparing to ease lending rules for first time house buyers to ensure cheaper house projects. Wei Yao, economist at Societe General admitted the decision is likely to spur private demand in rapidly fading property market. Nevertheless, Yao does not expect softer requirements for developers as the government still fears to fuel speculative demand. 
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Wed, 08 Feb 2012 07:56:47 GMT

Papademos postpones his meeting with Greek parties

Greek PM Lucas Papademos decided to postpone the meeting with leaders of Greece's three main political parties for the second time in few days. Instead Papademos prepares to meet so called Troika or ECB, IMF and European Comission to finalize details of measures required to receive EUR 130 billion bailout package. 

Wed, 08 Feb 2012 10:09:25 GMT

Japan faces its first current account shortfall since 1963

Japanese merchandise trade experienced the first yearly deficit in more than a 50 years as the trade gap reached JPY 1.609 trillion. In December, however, the current account surplus broadened to JPY 303.5 billion (USD 3.95 billion) compared to predicted JPY 331.4 billion. Exports lost 7% while imports gained 9.8% in the last month of 2011. 

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