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QFINANCE: financial news roundup (August 12 - 16, 2013)

Each week brings you some of the biggest news stories from the past five days in finance and business – essential reading to keep you up to date with the latest topics.

If you have any views on how we can improve this service or new areas you would like to see covered, please do not hesitate to contact us at

Friday August 16

The Indian rupee has hit a record low against the dollar today, the BBC reported. Despite the country’s central bank’s efforts to stabilize the currency, it seems overseas investors have been pulling money out of Indian shares.

Related article: Why India's love of gold has its down side

The drop of the rupee and an all-time high yuan, have put a strong pressure on Asian markets today, Reuters reported. “Asian markets rode a roller-coaster” the article said.

Thursday August 15

In the US, consumer price inflation has increased last month, pushing the annual rate to 2%, the BBC reported on Thursday.

Related article: US Economy, signs of hope?

In the UK, unemployment dropped to its lowest level since early 2009, the Office for National Statistics announced as Jobseekers’ Allowance claims fell by 29,200, The Guardian reported.

Wednesday August 14
The eurozone has finally emerged from recession after a record 18 months of economic contraction, the BBC announced on Wednesday. The group’s GDP grew ahead of forecasts, by 0.3% according to Eurostat, while Germany and France both recorded much stronger than expected growth.

Related article: Forget Greece and Cyprus, Portugal as the next exit candidate?

China wants to invest in energy-saving industries, the Guardian reported, with intentions to combat pollution. The country's State Council announced plans to make green industries central to the Chinese economy by 2015.

Tuesday August 13

Mexican President Enrique Peña Nieto has announced its plans to amend the country’s constitution to open up Mexico’s energy sector to foreign investors for the first time in 75 years, the FT reported on Tuesday.

Country profile: Mexico-Economy

“The Indian economy may be looking at a perfect storm”, the Times of India reported. Tight monetary policy and loose fiscal policy added to high inflation and misgovernance are worrying, while recently announced plans to reinvigorate the economy are “quite inadequate”, according to the report.

Monday August 12

Latin America’s biggest economy, Brazil, has announced plans to negotiate a separate trade deal with the EU, MercoPress reported last Monday. The country has been struggling since 1999 to reach such a deal alongside its Mercosur economic bloc partners (Argentina, Venezuela, Paraguay and Uruguay).

Related article: India and Brazil—Still Winners as the Global Economy Collapses?

India and Brazil—Still Winners as the Global Economy Collapses

Bundesbank, Germany's central bank said it expected Greece to need more rescue loans from its EU partners by the start of next year, weekly Der Spiegel reported on Monday.

Come back next week for another report on the world of business and finance.

Tags: banking , China , emerging markets , EU , European Central Bank , eurozone , financial crisis , Greece , regulation , sovereign debt , Spain , UK , US , US economy
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