Government

Greece elections: Clear mandate holds the key on $96-bn bailout package

Greece is set for elections on 20 September this year. Judge Vassiliki Thanou is the care taker Prime Minister till the new government is formed. Thanou was sworn in on last Friday and became the first female Prime Minister for Greece.

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China's Yuan up on suspected intervention, set for August loss

The marginal rise in Chinese currency Yuan on Monday is believed to be the extended support by the central bank of the world's second largest economy.

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Japan inflation weakens consumer purchasing power in July

Japan's economy continues to decline. Inflation rate and household spending crawled in July. This is according to data that was released onFriday that will possibly add pressure on the central bank to raise its barrage of monetary stimulus.

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Brazil is financially ruined, under recession

Whether Brazilians like it or not they are again headed for their worst economic crisis. The government reported Friday that the country's gross domestic product (GDP) had plunged 1.9% in Q2 alone and once again putting the nation into a technical recession.

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China infuses GBP 14B emergency funds into banking system to bridge gap of cash supply position

Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.

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Lloyds and Royal Bank of Scotland takes beating during plunge in stock market; Government seeks privatization

As the onslaught of the stock market tumult continues to wreak havoc on some of Britain's banks, Lloyds and Royal Bank of Scotland lost almost £3 billion from their value.

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Ex-US Treasury Secretary urges Federal Reserve to not make the 'Serious Error' of Raising Interest Rates

Former U.S. Treasury Secretary Larry Summers claims that the aggressive sell-off on the global markets can lead to "a very serious situation" and raising interest rates could be a big mistake.

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Home Care Workers Extra Compensation, But From Whose Pocket?

Many home health workers and other direct care workers will have the best day of their lives because they are going to have a raise. What drives this wage increase include union assertive campaigns, bountiful state minimum wage laws, an authoritative court decision on Friday and most significant is demand growth for paid home care by consumers.

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China plans to boost lending to support slowing economy - report

China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.

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Trump's tax plan to amp US economy

A few sentences from Donald Trump's previous speech are, he wants the system simplified to the minimum and he wants to see a reduction in all taxes, especially for the corporate and middle class.

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Drama in Greece continues with Tsipras calling the vote

Greece's Prime Minister, Alexis Tsipras, resigned recently, triggering a snap election on September. This is just in time as the country is about to tap it new 86 billion bailout package.

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Indian banking system in transformation mode

With Reserve Bank of India (RBI) licensing 11 companies to commence banking operations as 'Payment Banks,' Indian banking system is poised for a major revolution in the days to come.

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Drop in consumption, exports squeeze Japan’s export basket

The reduction in consumer spending and drop in exports are squeezing the world's third largest economy. During April-June quarter, exports from Japan eased putting further pressure on the Japanese economy, which slowed down at 1.6 percent annual growth rate as against the forecast of 1.9 percent.

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Iran's huge potential now open for global investments as crisis-hit nation comes out of sanctions

With sanction being waived off, Iran's underdeveloped oil and gas sector is now open to global investors. Six global powers- the US, the UK, Germany, Russia, France, and China- have agreed on a deal to lift sanctions on Iran with conditions.

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IMF dashes hopes of China; Yuan still out of fund's currency basket

The world's second largest economy China has to wait for one more year to make its currency 'Yuan' a part of International Monetary Fund's (IMF) currency basket. Dashing the dragon country's hopes, IMF's board favored a decision to keep renminbi as it is until 30 September 2016 year.

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