Chinese banks to face slower profits growth in 2014. World Economic Forum to be held in the next few days in Davos. China’s fixes asset investments showed stable growth in 2013. Wipro shares up by 4.5%.
Senior French politicians have been forced to defend the state of the country’s economy after Labor Minister Michel Sapin set off a storm of controversy by claiming France was “totally bankrupt”.
Sapin made the remarks in a radio interview on Jan. 27 after he was asked about Former Prime Minister Francois Fillon comment in September 2007 that France was a “bankrupt state.” Sapin responded, “But it’s a totally bankrupt state,” adding “that’s the reason we have to put deficit- reductions programs in place.”
Chanda Kochhar, CEO of ICICI, commented that the India needs to take example from China’s banking sector if it wants to be able to cope with its needs for economic and infrastructure development, reported Financial Times.
By Wolf Richter:The four largest banks in China, the banks that have to officially show big profits and profit growth no matter what because they're an integral part not only of the government but also of China's miraculous debt-driven expansion, are showing officially tolerated signs of increasing stress.
MELBOURNE — Canada’s Finance Minister Jim Flaherty has not yet decided whether to run for office again in the 2015 general election, he told Reuters on Tuesday, amid speculation he may step down before then to attend to health issues.
“We’ll see. I haven’t decided,” Flaherty said in an interview when asked to confirm his intentions.
He answered “yes” at a Nov. 13 news conference when asked whether he would run for re-election in October 2015 in the southern Ontario district he represents.
As withering criticism of the oil sands continues unabated, the industry is fighting back, armed with its own set of facts and highlighting the strides made in tackling the environmental issues that have sullied its reputation.
By David Fry (ETF Digest): Greece is at a political impasse (as if you care now). Spain saw most bank stocks getting trashed (Santander down 6%) while sovereign debt exceeded 6% for the first time since November 2011-and that wasn't a great period.
Which side is right in the debate over spending cuts and the economy? The truth is that no-one can know. Because the only thing everyone can agree on is that we live in extraordinarily uncertain times.
But the question of how fast to the cut the deficit is one of the most important facing this country today. This week I've summarised the best arguments for each side. You should think about where you stand.
China has spent 10 million yuan (1.5 million dollars) on computers for thousands of members of an advisory body attending the annual parliamentary session -- in an effort to reduce paper waste.The 2,000-plus delegates to the Chinese People's Political Consultative Conference -- from Mao Zedong's grandson to former Olympic champion hurdler Liu Xiang -- received a free Lenovo laptop worth 5,000 yuan (730 dollars).