Eurozone finance ministers decided on Saturday to lend Spain up to €100bn ($125bn, £80bn) to save its troubled banking sector. The aid is expected to cover all capital requirements Spain's banking sector needed. "The loan amount must cover estimated capital requirements with an additional safety margin, estimated as summing up to 100 billion euros in total," said the Eurogroup statement
Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday, but the trade deficit with China worsened.
After George Soros , the influential hedge fund manager, posted a speech he gave at an economics conference in Italy last week, the financial blogosphere and the mainstream media, including the New York Times and the Washington Post lit up -- mostly with praise. Joe Weisenthal, Business Insider's blogger, called it "brilliant," "dynamo" and "killer." On Twitter , Tony Fratto, a CNBC contributor and former treasury secretary, wrote that he'd "never had anything recommended to him more frequently." The speech begins with a wonky description of the state of modern economics and then dives deeply into an intriguing analysis of the European financial crisis -- and warns that there are only a few months left to resolve it or the debacle will bring down global economies with it. His assessment is novel: He sees the crisis as a political "bubble" that began to emerge with the very first steps of European unification; the road to this crisis, Soros says, was paved with the best of geopolitical intentions.
Greece's conservatives have regained an opinion-poll lead that could foreshadow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed on Saturday. Greece was forced to call repeat elections for June 17 after a May 6 vote left parliament divided evenly between groups of parties that support and oppose the austerity conditions attached to a €130 billion bailout agreed with the European Union and International Monetary Fund in March
GCC: Can The Arab Gulf States Form A Political And Economic Union To Rival The EU And Shut Out Iran?
Iran's long conflict with its Arab neighbors in the Persian Gulf region reached a new low recently over a controversial proposal by Saudi Arabia to form a “union” of sorts with Bahrain.
Fearing a political backlash, the India n government has postponed the decision to hike the diesel prices for the time being.