Spain to implement bank reform

Source: BBC
The government of Spain is expected to report on the further bank reform later in the day. The government is likely to oblige the banks to increase reserves up to 30 billion Euros to improve the situation with rising number of bad loans. However, it is still uncertain whether the country sorts the problem by itself or requires additional monetary aid from the Euro Zone and IMF, said Robert Preston from BBC.

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Fri, 11 May 2012 12:51:13 GMT

Indian factory production slumped by 3.5% in April

India's factory production contracted by 3.5% last month as manufacturing activity in the country declined. The data lingered concerns that global stagnation and weak domestic demand may impact the overall growth of the country. Experts urged that the slowdown in manufacturing activity is likely to continue until the government puts more effort in boosting economic expansion.

Fri, 11 May 2012 11:03:11 GMT

UK consumer confidence deteriorated in April

The UK consumer confidence index declined more than initially expected in April, reported Nationwide. Nationwide index of consumer sentiment dropped to 44 in April on a seasonally adjusted basis as compared to 53 in March. Experts predicted the index to ease down to 52 in April. After the data release, the British pound moved lower against the common currency and

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