Government Policy

US's Geithner To Shape Hill Debate On China FX Bill Thursday

Treasury Secretary Tim Geithner will spend most of next Thursday on Capitol Hill, defending his department's international economic and foreign exchange report, and trying to persuade lawmakers that he is making progress in...

Fri, 09/10/2010 - 12:50

Investing

Obama: Entire Agenda Now To Stimulate Jobs, Economic Growth

President Obama Friday defended his administration's handling of the U.S. economy's recovery from the "Great Recession" onward, using the platform of a late morning news conference to counter claims the government is tackling...

Fri, 09/10/2010 - 14:28

North America

BOC Governor Carney: World Can Slip Back Into Crisis Without Reforms

The world can easily fall back into economic crisis, this time with recession hitting advanced economies and inflation besetting emerging markets, Bank of Canada Governor Mark Carney said Friday.

Fri, 09/10/2010 - 12:05

Deutsche Bank Planning Pre-Basel III Rights Issue: Press

FRANKFURT (MNI) - Deutsche Bank is planning to raise E8 billion to E9 billion via a rights issue in order to meet new capital and liquidity requirements being hammered out in Basel, the Financial Times reported Friday.

The newspaper cited people close to the plan as saying that Germany's biggest bank could announce the offer by Monday or Tuesday, and that it could prompt other banks around the world to follow with similar fund raising exercises.

ASIA FX: Dlr-Yen Rises After BOJ Minutes Highlight Yen Risk

SINGAPORE, Sept. 10 (MNI) - Dollar-yen rose through resistance after minutes from the Bank of Japan's Aug. 9-10 meeting suggested increasing worries about yen strength amongst board members.

"Many members" of the policy making board voiced concern over the impact of the strong yen on the outlook for Japan's economic and price developments, the minutes released by the BOJ showed.

"Many members raised the possibility that the appreciation of the yen might depress growth in exports and corporate profits," the minutes said.

China Dlr-Yuan Parity Set At Record High Of 6.7625

BEIJING (MNI) - The People's Bank of China set the yuan's central parity rate at a record high of 6.7625 to the U.S. dollar on Friday.

The fixing was higher than the previous trading day's central parity of 6.7817 and beats the previous record of 6.7685, set on Aug.9.

The yuan finished at 6.7832 against the U.S. dollar on the over-the-counter (OTC) market Thursday, higher than Wednesday's close of 6.7943.

China August House Prices 9.3% Y/Y Vs +10.3% July: NBS

BEIJING (MNI) - The growth of Chinese house prices slowed for a fourth month in August, rising 9.3% y/y, and were unchanged over the previous month, the National Bureau of Statistics reported Friday.

Investment in the real estate sector rose 36.7% y/y during the first eight months of the year versus 37.2% during January-July and the first half's 38.1% increase.

House prices were up 10.3% y/y in July, 11.4% in June and 12.4% in May.

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