Tim Geithner departing his post at the US Treasury

Tim Geithner departing his post at the US Treasury… US Treasury Secretary Timothy Geithner signaled to White House officials that he is considering leaving the administration after a deal to raise the debt limit is reached, it was reported Thursday from # anonymous sources, one of the three people familiar with the matter said Geithner [...]

Commodities News

On the Commodities Front Following yesterday’s austerity vote in Greece we saw a quieter session for commodities. August Gold settled lower by 0.5% to 1502.90 oz, and Sept Silver finished near unchanged at 34.76 oz. Both precious metals gave back modest gains from earlier in the session. August Nat Gas finished higher by 1.4% to [...]

HK stocks close higher

HK stocks close higher on heavyweight gainers Hong Kong stocks jumped in the last trading day of June, as heavyweights, like HSBC and CCB, gained on Thursday. The benchmark Hang Seng Index moved up 336.92 pts to close at 22,398.1 pts, after trading between a day high of 22,464.05 pts and a day low of [...]

German unemployment falls in June

German unemployment falls in June German unemployment dropped again in June thanks to the Strong upswing of the Country’s economy, the German Federal Employment Agency (BA) said on Thursday. The number of Germans without a job dropped by 67,000 to 2,893,000 in June, about 255,000 less than in the same month last year, putting Germany’s [...]

China voices confidence on EuroZone

China voices confidence on EuroZone economy China said Thursday it believes that the EuroZone will realize steady economic growth. Foreign Ministry spokesman Hong Lei made the remarks when asked to comment on Greece’s approval of a key austerity bill and the country’s debt crisis. “The difficulties Greece and some other countries have encountered indicated that [...]

Lynas Saga Continues

Lynas, the Australian Rare Earths miner, meets requirements as its controversial plant in Malaysia receives Green Light An Australian firm that built a controversial rare earth refinery in Malaysia said Thursday it was ready to meet the International Atomic Energy Agency (IAEA) ‘s requirement, putting an end to protest over radiation concerns in the country. [...]

World’s longest cross-sea bridge opens in east China

World’s longest cross-sea bridge opens in east China The World’s longest cross-sea bridge, spanning 36.48 kilometers across the mouth of the Jiaozhou Bay in eastern Shandong Province, opened to traffic Thursday, just 4 yrs after construction started. The bridge, connecting urban Qingdao with the city’s less-developed district of Huangdao, cost about 14.8B Yuan (US$2.3B). Authorities [...]

South Korea-EU FTA a Win-Win

South Korea-EU FTA a Win-Win for both parties The free trade agreement (FTA) between South Korea and the European Union (EU) will be a Win-Win strategy for both parties, a top EU trade official said Thursday. “The agreement will be a win-win strategy for both parties. All the consumers in the EU and South Korea [...]

Australian’s provides aid package for cattle industry

EuroZone inflation stable at 2.7% in June

EuroZone inflation stable at 2.7% in June Annual inflation in the EuroZone remained at 2.7% in June, according to the flash estimate released by the European Union (EU) statistics office Eurostat Thursday. The figure remained unchanged from May, but was still well above 2% ceiling preferred by the European Central Bank (ECB) in order to [...]