Daniel Ritort

Yearly Archives: 2011

Europe facing recession fears for 2012

Growth in Europe has slowed in recent months as the euro zone debt crisis has forced governments to rein in spending and has hit confidence in global financial markets. Analysts believe recession will return to Europe in 2012. Some of … Continue reading

Hungary restricts central bank’s independence

Government of Hungary has passed a new law that critics say undermine the independence of its central bank. Fidesz, the ruling party, which has two-thirds majority, has approved the constitutional change. Last week, Standard & Poor’s downgraded Hungary’s debt to … Continue reading

Huge budget surplus in Saudi Arabia

Saudi Arabia has posted more than 80,000 million dollar budget surplus for 2011 as its income beat forecasts by more than double. Revenues grew to 296,000 million dollar in 2011, while finance ministry forecasted 144,000 million. Most of the income … Continue reading

TEPCO shares fall on fears of nationalization

Tokyo Electric Power Company’s shares fell by 12% on the Tokyo Stock Exchange on fears that the utility provider could be nationalized. Yesterday, TEPCO asked the government for an extra 9,000 million dollar to help pay earthquake’s compensation claims. Yukio … Continue reading

Italian government’s yields goes down

Italian government halved its borrowing cost at its last debt auction. It raised 9,000 halvemillion euro in short-term debt and 1,700 million in two-year debt. The yield on the six-month bills was 3.25%, down from 6.50% at similar November’s auction, … Continue reading

China’s Beidou starts competing with American GPS

Beidou, the Chinese satellite navigation system, has become operational. It offers location, timing and navigation data to China and surrounding areas. Chinese government has been working on the system since 2000 to provide an alternative to the United States government’s … Continue reading

China and Japan to cut their US Dollar dependence

Japan and China agreed to promote direct trading of the Yen and the Yuan without using United States Dollars. Both Japanese and Chinese governments said they will encourage direct Yen-Yuan settlement to reduce currency risks and trading costs. According to … Continue reading

Toyota to increase production by 20%

Toyota said it has plans to boost its production by 20% in 2012 as it will recover ground lost due to Japan’s earthquake. The firm wants to produce near 8.5 million vehicles next year, and increase sales by 25% to … Continue reading

Volkswagen to stop to turn off employees email after work

Volkswagen has agreed with unions to stop sending emails to its employees when they are off-shift. The company confirmed it made the move earlier this year, but it only covers employees in Germany working under trade union negotiated contracts. A … Continue reading

10 million Catalan speaking people demand the same rights as other European

Catalan language has grown to become one of the hundred most spoken languages in the world. Catalan speaking population has increased by 500,000 over the past ten years. Currently, more than 10 million people, which represents 75% of the population … Continue reading

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