Greece asks for more time to complete reforms

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Source: BBC

Greece's Prime Minister Antonis Samaras wants international lenders to give Greece more time to implement reforms and cuts that have been demanded as a condition for financial aid. The "troika" is to decide, whether Greece is to receive its next tranche worth 31.5bn euros in order to stay in the Eurozone and avoid default or not.

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Thu, 23 Aug 2012 07:01:53 GMT

China's manufacturing may shrink at faster pace

China's manufacturing is expected to contract at faster pace in August, indicating more fiscal and monetary stimulus may be required. The preliminary reading for a purchasing managers' index was 47.8 following July's 49.3 figure. Export growth decreased to 1% in July from the previous year after an 11.3% increase in June, whereas lending and industrial output missed economists' expectations. 

Thu, 23 Aug 2012 15:08:34 GMT

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