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Reaction of Indian Media After Pakistan 3rd test Against England on 6th feb 201...
Monday, February 6, 2012
FOREX-Euro dips as Greece delays debt deal approval
NEW YORK, Feb 6 (Reuters) - The euro dropped against
the dollar on Monday as Greece's political leaders
delayed a decision on a new bailout package, raising concerns of
a disorderly default that could spread to other debt-ridden
countries in the region.
A European Commission spokesman said Greece was already past
the deadline for finalizing talks on a second financing package
and needed to move urgently.
German Chancellor Angela Merkel told Greece to make up its
mind quickly on accepting the painful terms for a new EU/IMF
bailout, but the country's political leaders responded by
delaying their decision for yet another day.
"Headlines out of Europe are affecting sentiment on the
euro. Earlier, we had hit stop losses in the euro and we saw it
trim some losses. But it's more...
Europe crisis could halve China's growth: IMF
A Chinese paramilitary policeman standing guard outside the European Union Delegation in Beijing in 2011 (AFP/File, Peter Parks)
WASHINGTON — An escalation of Europe's debt crisis could slash China's economic growth in half this year, the International Monetary Fund said Monday, urging Beijing to prepare stimulus measures in response.
The IMF, in an economic outlook report on the world's second-largest economy, highlighted China's vulnerability to global demand.
"The global economy is at a precarious stage and downside risks have risen sharply," the IMF said, citing the possible deep crunch in the financial sector in Europe that would be felt around the globe.
"Should such a tail risk of financial volatility emanating from Europe...
Brent jumps to 6-month high on Europe cold snap
NEW YORK (Reuters) - Brent oil rose for a fifth straight session on Monday to settle at a six-month high as cold weather in Europe boosted heating fuel demand and pushed the crude's premium to U.S. oil to the highest since November.
European gasoil led gains across the oil complex, rising more than 3.5 percent as bitter weather killed another 33 people in Europe.
Italy announced it would allow electricity providers to fire up oil-fueled generators to limit natural gas after six-straight days of reduced supplies from Russia.
Additional support for Brent came amid supply concerns from OPEC members Iran and Nigeria.
"The cold weather is giving us a lift in the products and that is feeding through to Brent," said Rob Montefusco, a trader...
Market Watch: Bourse surges to six-month high
KSE’s benchmark 100-share index jumps 154 points. KARACHI: The stock market closed at a six-month high on Monday as investors took activity up a notch on rumours of foreign buying and ease in the circular debt in the next few days.
The Karachi Stock Exchange’s (KSE) benchmark 100-share index jumped 1.29 per cent or 154.3 points to end at the 12,136.92 point level.
“Term Finance Certificates are expected to be issued in the next few days to resolve the circular debt issue,” said JS Global Capital analyst Shakir Padela.
A healthy intra-day upward correction was also witnessed after reports surfaced that Supreme Court suspended membership of a few senators and parliamentarians including Finance Minster...
How the major stock indexes fared on Monday
Stock indexes closed slightly lower Monday as talks dragged on between Greek political leaders over a package of spending cuts and other measures required for the country to get more bailout loans.
President Nicolas Sarkozy of France and German Chancellor Angela Merkel warned Greek leaders that they need to push through another package of cost-cutting measures or risk letting the country go bankrupt.
The Dow Jones industrial average fell 17.10 points, or 0.1 percent, to close at 12,845.13.
The Standard & Poor's 500 index slipped 0.57 of a point to 1,344.33.
The Nasdaq composite fell 3.67, or 0.1 percent, to 2,901.99.
For the year so far:
The Dow is up 627.57 points, or 5.1 percent.
The S&P 500 is up 86.73 points, or 6.9 percent.
The Nasdaq...
Deal of the week
