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Greek Prime Minister Alexis Tsipras

Recovery in Greek economy likely in 2016; 2.7% GDP growth in 2017

The ongoing recession in Greek economy after long-lasting uncertainty is projected to end in 2016 and may witness real growth in 2017, according to European Commission (EC). The unsuccessful conclusion of second adjustment program of bailout package continued and worsened the economic recession in the ailing Greece economy further weakened the recovery prospects in the first half of 2015.

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Kingdom of Saudi Arabia

Saudi Arabia may face cash crunch after 5 years

The indications are strong such that mighty Middle East (ME) region also may not sustain cheaper oil prices for long. If oil price continues to hover at $50 per barrel, the majority of Gulf nations will run out of cash in the next five years, according to International Monetary Fund (IMF). There's no exception to Saudi Arabia, the leader of Organization of Petroleum Exporting Countries (Opec), Oman and Bahrain. The oil price drop is expected to pull $350bn out of the ME region this year alone. The current account deficit of Saudi Arabia may touch 20 percent of its GDP this year.

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Factory worker

China sees 10,000 start-ups a day amid government support

There's good news in a form of startups for China, which is reeling under the pressure of the slowdown in the economy. Giving much breath to China, over 10,000 startup firms are to take off every day. The majority are small enterprises.

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Yuan note

IFC sees Panda bond market exceeding $50B by 2020

The Panda bond market in China is expected to surpass $50-billion mark in next five years. International Finance Corporation (IFC) is planning to sell bonds in Yuan-denominated from this year onwards.

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Venezuela

Dollar-starved Venezuelan telecoms turn weaker

Venezuelan telecom sector is reeling under pressure as it lacks additional funds availability, the physical currency of dollars. The cash-strapped telecom companies are unable to strengthen their networks. The soaring inflation doesn't allow them to raise a tariff.

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National Bank of Serbia

Serbia cuts rates for 2nd time this month

With an objective of boosting economic growth, Serbia has slashed interest rate for a consecutive second month. The inflation rate is below the government's target and GDP growth rate was also eased in 2014. The decision of Serbia, the biggest former Yugoslav republic, to slash interest rate for a consecutive second month surprised everyone as it unexpected one both the times.

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Gas Station

Oil price decline makes gasoline less expensive

Gas becomes less expensive because the bottom has fallen out on oil prices. Crude is responsible for almost half the cost of a gallon of gas, as reported by CNN Money. Since June, prices have been plummeting and according to AAA, the regular gasoline's average price is now at $2.40 per gallon or more than a dollar less than it was a year ago. The plunge has been widespread and average prices are still above $3 in only four states namely: California, Nevada, Alaska, and Hawaii wherein the last two states have everything that is often more expensive.

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US and Yuan notes

China's economic distress is risk to global economy: IMF and ECB

After the market downfall from the previous weeks, IMF and ECB gave a warning on the effects of China's deceleration. Both European Central Bank and International Monetary Fund admonished the risks of economic growth from China's slowdown and other establishing markets.

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Yuan note

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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Greece

Euro nations take a vote on Greece bailout ahead of crucial meetings

Greek is heading towards a third round of bailout package when the crisis-hit nation is about to make repayment of euro 3.2billion to the European Central Bank. The third bailout plan for ailing Greece economy is creating tremors in the European Union (EU). German's decision is crucial on Wednesday.

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Consumer

China requires bold structural reforms for new sources of growth: IMF

Though China's growth rate is slowing down, the world's second-largest economy can bounce back to regain the momentum and manage the risks involved, observes International Monetary Fund (IMF).

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Greece

Greek government says discussing draft of third bailout deal

Greek government officials discussed a draft of the country's third bailout agreement drawn up on the basis of discussions with EU/IMF lenders, a government official said on Saturday, boosting hopes a deal could be wrapped up in days.

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Stock Market

Stock markets expected to be under 4% annual growth

The slowdown in economic growth in major economies is expected to keep the stock markets under four percent annual growth in the near future. The second half of 2015 is expected to be sluggish following the bleak economy outlook for the US, EU and China.

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Mexican peso bills

Mexican government hikes dollar auction by almost 4 folds; holds rates

The continuous fall of peso currency is giving jitters to the Mexican economy. The second largest economy in Latin America is making all the possible efforts to prevent the arrest of its falling peso. It increased dollar auction level by almost four times to support the weakening peso.

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European and Greek flag

All eyes on talks over bailout plan for Greece

The delayed talks over a third 85 billion euro bailout plan is set to take place on Tuesday. Syriza government led by Prime Minister Alexis Tsipras will hold negotiations with European troika, the tripartite committee led by the European Commission (Eurogroup), European Central Bank (ECB) and International Monetary Fund (IMF).

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