The measures by Barack Obama-led US government to keep more pressure on lawmakers to bring Puerto Rico out of the economy crisis are facing strong resistance from Republicans. The US Treasury has listed out proposals, for which it sought the support of Congress to enact them to help the US territory Puerto Rico Island in dealing with the ongoing financial crisis.
Right after defeating his rivals, Canada's new Prime Minister is immediately under heavy pressure to perform and deliver on his promises, especially on climate change, legalizing marijuana, and fighting terrorism.
China's economy grows at its slowest pace in more than six years in the third quarter. Gross domestic product between July and September expanded 6.9% from a year ago, its weakest since the first quarter of 2009. While that is better than the forecasted 6.7% growth, it is lower than the 7% recorded in the first two quarters.
There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
The world's second largest economy witnessed its lowest growth rate in the last two decades. China's gross domestic product (GDP) growth rate dipped below seven percent during the third quarter for the first time after the financial crisis. A record of 6.9 percent, below the Chinese government's target of seven percent and slightly better than the forecasted 6.8 percent. This is translating into more pressure on the Chinese government to lower interest rates and some measures to strengthen the growth rate.
The Reserve Bank of India (RBI) Governor Raghuram Rajan's latest measure to slash benchmark repurchase rate is finally giving results as commercial banks started cutting down interest rates.
The China's withdrawing from the US government debt is being overlooked as robust demand in the domestic market is increasing. Several US mutual funds have started buying treasuries at auction. The US investors are also increasing their buying.
Indonesian president is scheduled to visit US's giant tech companies during his first trip in the United States. The trip will start on October 26 and it will be a five-day trip full of bilateral business agenda.
Despite down 12.7 percent from the 52-week high of 20,952.71 points, Japan's Nikkei offered 27.89 percent return for 2015 so far and the last two sessions of the previous week further indicated the upward momentum in the market.
Under Social Security rules, some 70 percent of Medicare beneficiaries will not get increases when the cost of living adjustment in Social Security is zero.
The use of the public surveillance mobile app by some frustrated Indonesians serves as a wake-up call for government's bureaucrats to immediately address the pressing problem of their shoddy public services.
The labor market in Brazil, one of the BRICS (Brazil, Russia, India, China and South Africa) nations, is fast worsening owing to intensifying recession in the domestic economy. The unemployment rate rose to 7.6 percent from the record low of 4.3 percent at the end of 2014. Many industrial estates in Brazil are running down signaling next big crisis for the economy.
The commodities-fuelled boom has transformed many millions of Brazilian poor people into 'the new middle class' and the ongoing recession is again eroding their spending and earning capacity. Middle-class people in Brazil find it difficult to sustain their living standards amid intensifying economy recession and soaring inflation rate. Many owners of small shops, coffee stalls and other small vendors see their dwindling earnings by more than half during the past three years. As a result, many middle-class people are slashing their spending levels, which result in a cascading impact on other segments.
The EB-5 immigrant investor program, popular green card route for Chinese rich investors, may pose tough time for potential investors from the world's second largest economy if the changes under consideration come into force. The US government grants permanent residency to foreigners who invest $500,000 in the US economy creating employment opportunities.
By the middle of next year, Greece will go back to its economic growth only if the government will give importance and devoted attempt to reacquire financial strength.