Obama urges EU officials to find a solution

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

1.       President Obama pushes European officials to avoid knocking down the common currency ahead of today's meeting in Brussels. 17-member countries' Finance ministers today will attempt to develop details how the EFSF will increase its firepower to back national debts with guarantees. Officials are preparing for the summit scheduled on December 9 to recoup investors' confidence.

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Tue, 29 Nov 2011 08:39:15 GMT

India's growth rate is likely to drop

India's growth rate is expected to have declined in the period between July and September; the rate is projected to fall below 7%, being two-years low. The decrease indicates the necessity to cease the central bank's policy aimed at lowering inflation rate. However, despite changing interest rates for 13 times since March last year, the inflation rate is still above 9%.

Tue, 29 Nov 2011 09:02:33 GMT

Asia central banks cut rates

According to economists familiar with the region, Asian national banks might be preparing to reduce interest rates, as the increasing negative impact from European debt trouble hurts growth. Thailand is planning to cut its borrowing rate tomorrow, while Philippines is expected to lower its benchmark on December 1. Last week Citigroup Inc and Morgan Stanley lessened economic estimates for Asian countries.

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