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QFINANCE: financial news roundup (August 19 - 23, 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 23

The Office for National Statistics has revised up UK economic growth during the second quarter of this year, Bloomberg reported. The economy's expansion, helped by construction and manufacturing and a boost from trade, has prompted some economists to raise their forecasts for this year and next.

Related article: UK recession is officially over

The eurozone is growing at the fastest pace for 26 months, the BBC reported today. The Markit composite purchasing managers' index increased to 51.7 points, from 50.5 last month.

Thursday August 22

In Brazil, new steps to boost the real are being taken, the WSJ reported. The country’s central bank announced it would provide at least $60 billion more in dollar liquidity through to the end of the year.

Related article: India and Brazil, still winners as the global economy collapses?

Wednesday August 21

The central bank of India has announced that it will inject 80bn rupees ($1.3bn; £806m) into the country's banking system, the BBC reported on Wednesday. After tightening money supply, the bank will be buying long-term government bonds, it said.

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

Greece will need a third aid package, German finance minister Wolfgang Schaeuble announced on Wednesday. The surprise move comes just weeks ahead of German elections, the Daily Telegraph reported.

Tuesday August 20

In Vietnam, the dominance of state-owned enterprises has been a problem for nearly three decades as the country is transitioning from central planning to a “socialist market economy”, the BBC reported. The Communist Party is still in charge and the country viewed as the "next China" has started to raise concerns about a looming debt crisis.

Country Profile: Vietnam

“When it comes to investment in climate finance, the data's not there”, Mark Fulton wrote in the Guardian on Tuesday.  Information on the flow of funds and sources are missing and it would be useful to know “who has the money and where they are putting it to work out”.

Monday August 19

In Japan, exports have increased to the highest level since July 2010, Bloomberg reported. This comes along Prime Minister Shinzo Abe’s efforts to drive an economic recovery, the article said.

Related article: Japanese PM targets deflation as the main battle

“India edges towards crisis”, CNN Money reported on Monday, as the rupee dropped to a record low and stocks lost 10% in a month. The Indian government insists the country's economy is not in crisis.

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

Tags: banking , central banks , China , emerging markets , financial crisis , fiscal stimulus , global imbalances , Greece
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