Malaysia: ETP goes into overdrive
The Economic Transformation Programme (ETP) switched into overdrive in the new year; with an additional 19 entry-point projects (EPP’s) and developments that are expected to contribute almost RM67bn in investments. The government has also upped the ante in the oil, gas and energy National Key Economic Area (NKEA) with four EPPs contributing in excess of RM20bn in investments from the slew of projects unveiled yesterday. (Bloomberg)
Japan: Japan to buy Euro Bonds, joins china to avert crisis
Japan plans to buy bonds issued by Europe’s financial-aid funds, its finance minister said, joining China in assisting the region as it battles against a debt crisis that prompted bailouts of Ireland and Greece. “There is a plan for the euro zone to jointly issue a large amount of bonds late this month to raise funds to assist Ireland,” Finance Minister Yoshihiko Noda said at a news conference in Tokyo today. “It’s appropriate for Japan to make a contribution as a leading nation to increase trust in the deal. We want to buy more than 20%.” (Bloomberg)
India: India’s Singh calls meeting to counter price surge
Indian Prime Minister Manmohan Singh convened a meeting with his cabinet colleagues to discuss ways to rein in food prices as opposition parties prepared to launch nationwide protests against inflation. India, where elections have been won or lost on the price of onions, a key ingredient in the nation’s cuisine, is holding polls in nine states in the next 18 months. (Bloomberg)
EU: ECB gains EU parliament support to toughen budget law
The European Central Bank picked up allies in its fight against a French-German push to dilute tougher budget rules meant to avert future euro-area debt crises. European Parliament members proposed more automatic sanctions on high-deficit nations such as Greece, bolstering calls by ECB President Jean-Claude Trichet. European Union governments led by France and Germany said in October that penalties against budget violators should be left in political hands. (Bloomberg)
US: Fed regional bank directors last month saw “modest growth”
Directors at Federal Reserve district banks expected economic growth to remain “modest” even as they saw signs of improvement, according to minutes of Board of Governors’ meetings in November and December. The minutes indicated that most directors at the 12 regional banks agreed with the Fed’s assessment that the economic recovery isn’t strong enough to reach the central bank’s twin goals of full employment and price stability. (Bloomberg)
U.S: Wholesale inventories fell 0.2% MoM in November and followed a revised 1.7% MoM gain in October. Sales rose 1.9% MoM in November. (Source: Bloomberg)
U.S: Job openings fell in November from two-year high. The number of positions waiting to be filled decreased by 80,000 to 3.25 million, the Labor Department said in Washington. The number of people hired, dropped from the prior month and separations climbed. (Source: Bloomberg)
U.K: Retail sales fell last month as snow and the coldest December temperatures in at least a century deterred shoppers, the British Retail Consortium said. Sales at stores open at least 12 months, measured by value, dropped 0.3% YoY, compared with a 0.7% YoY gain in November, the London based BRC said in an emailed statement. (Source: Bloomberg)
Greece: Central government budget deficit, contracted by more than a third last year as spending cuts more than offset slower than forecast revenue growth. The gap, which doesn't include outlays by state, owned institutions and companies shrank 36.5% to EUR19.6b (USD25.3b), according to preliminary data released by the Finance Ministry. The decline was more than the 33.5% forecast in the government plan that helped Greece secure a EUR110b bailout from its European partners and the International Monetary Fund. Final data are due on Jan. 20. (Source: Bloomberg)
China: Foreign-exchange reserves climbed by a record last quarter and lending exceeded the government's annual target, increasing pressure on the central bank to tighten policies to rein in liquidity and inflation. The currency holdings, reported by the central bank on its website, rose by USD199b to USD2.85tr, the biggest quarterly gain since Bloomberg data began in 1996. Full year yuan denominated lending of CNY7.95tr (USD1.2tr) compared with a target of CNY7.5tr. (Source: Bloomberg)
Australia: Trade surplus narrowed in November as the value of coal exports dropped, and economists said it may deteriorate further as rising floodwaters in the nation's northeast shutter mines and ruin crops. The excess of exports over imports totaled AUD1.93b (USD1.92b), down from a revised AUD2.56b surplus in October, the Bureau of Statistics said. (Source: Bloomberg)
No comments:
Post a Comment