Potential buyers at an RV exhibition in China , 2011. Photo from www.rvchina.cn The motor monstrosity beloved by suburban Americans, the recreational vehicle (RV), is gaining a die-hard fan-base in China
Investors are making a "flight to quality" faster than a runner chased by a bull through the streets of Pamplona. Investors are increasingly looking for alternatives to credit-default swaps (CDS) on Spanish national debt and on Europe's primary CDS index and moving it to German CDs, a trend which indicates higher expectations that periphery nations will be unable to repay their debts and a lack of confidence in the political will of the economic union. The cost of buying credit-default swaps, a kind of insurance to protect investors against the default of bond issuers, has been growing steadily in the last month for euro zone periphery nations like Spain
The International Olympic Committee has narrowed down the bidders to host the 2020 Summer Olympics from five to three, eliminating Baku, Azerbaijan and Doha, Qatar, in favor of Tokyo, Madrid and Istanbul. Japan 's stake in the games may be higher than its competitors: Tokyo 2020 bid chief Tsunekazu Takeda said on Thursday that hosting the games would lift the spirits of and "give big, big power to" those who suffered from the 2011 earthquake and tsunami, which killed about 19,000 people. All three cities still in the running are hoping that the Olympics will not only increase national pride, but also fatten the national wallet
Ohio could become Thursday the sixth U.S. state with laws regulating the controversial drilling practice known as fracking. The state's House on Thursday is expected to vote on a bill that would bolster rules on hydraulic fracturing, and has already been approved by the Senate.
Even as a possible Greece exit from the euro zone is creating ripples of fear in the global economy, it seems that the Asian countries, especially India , is better placed to face the euro zone breakup storm than other regions. The political and economic crises in the euro zone are threatening to prolong the economic slowdown across the countries. The uncertainty in Greece over its possible debt default and exit from the euro zone is driving down the euro and other major currencies against the dollar
European leaders reaffirmed their desire to keep Greece in the euro zone on Wednesday, but warned the ailing country to stick to strict debt reduction conditions or face expulsion from the currency community. Speaking at a summit in Brussels, the heads of Germany and several EU institutions all urged the debt-stricken country to stick to the deeply unpopular tax hikes, labor reforms and welfare cuts that have divided Greece and pushed it to the brink of exiting the currency union. "We discussed the political and economic situation in Greece.
Spanish bond yields hovered above the 6 percent mark Thursday, prompting Spain's prime minister to urge the European Central Bank to buy Spain's bonds as it did in August 2011, according to a report by Bloomberg News. Yields on the benchmark 10-year bond were 6.088 percent, and the price of credit defaults swaps protection on the bonds rose 1.65 percent.
The India n Government announced Wednesday the single largest hike in petrol prices by Rs. 7.50 per liter (including tax).