Germany to speed up bailout payments

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Source: Bloomberg

According to announcement of Angela Merkel's party, Germany is considering speeding up bailout payments to European Stability Mechanism in order to ensure higher ratings for nation's bonds and get higher independence from rating agencies. Germany is likely to pay 8.6 bn Euros in bailout fund to encourage other Euro Zone members to amplify their payments. 

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Fri, 30 Dec 2011 08:45:48 GMT

US pending house sales surge to 19-month high

US pending home sales increased essentially in November, approaching 19-month high. The pending home sales index jumped by 7.3% last month while analysts expected only 1.5% increase, reported the National Association of Realtors. The jump may be a result of delayed transactions, said Lawrence Yun, chief economist. After the release of data, USD advanced against the Euro and the pair EUR/USD was traded at 1.2928,

Fri, 30 Dec 2011 09:01:20 GMT

Lending in South Africa surges on low interest rates

In November South African borrowing rose faster compared to previous month reaching increase of 6.22% as nation's central bank maintained its interest rate unchanged at 5.5% or 30-year record low to boost growth in Africa's biggest economy. Borrowing by businesses and households added 5.5% compared to October, reported Reserve bank. South African economy expanded 1.4% in third quarter.

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