Category: World
America’s Greece in the making, Puerto Rico defaults another bond payment
Aug 06, 2015 (LBO) – One of the unincorporated territories of the United States, Puerto Rico, is to default another bond payment due on September 01 after the government defaulted its first bond payment in their history on Monday.The second default is a payment of 92 million US dollars a month into a general obligation […]
Asian shares continue to fall on fears of US interest rate rise
Aug 05, 2015 (LBO) – Asian shares dipped on Wednesday as investors saw signs of US interest rate rise as early as next month, foreign media reports said.The shift to higher rates in the US has been resulted in the withdrawal of funds from emerging markets, putting pressure on their currencies.The dollar rose against the […]
Illegal immigrants to UK face eviction without court order with new law
Aug 04, 2015 (LBO) – Britain’s government is to introduce new measures to crackdown illegal immigrants renting properties in the country. “It will ensure anyone without the right to live in this country will find it more difficult to rent a home,” a statement issued by the department for communities and local government said. “Measures […]
Greece stock exchange to reopen today with trading restrictions
Aug 03, 2015 (LBO) – The Athens stock exchange will reopen Monday with restrictions, more than a month after the Greece financial crisis pressured the closure of the exchange. The Athens Exchange Stock Markets Steering Committee and the Boards of Directors of AthexClear last Friday decided to reopen the Regulated market and the Multilateral Trading […]
Chinese stocks continue slide following historic sell-off
July 28, 2015 (LBO) – China’s main stock index, Shanghai Composite continued its slide and fell by 4.3 percent to 3,567.38 points in early trade Tuesday, foreign media reports said. China has tried to calm investors by reassuring them it would implement prudent monetary policy to stabilise markets with the country’s central bank injecting 8.05 […]
BRICS Development Bank To Counter Western Lenders
July 22, 2015 (LBO) – The BRICS group of emerging economies launched its New Development Bank (NDB) in Shanghai on Tuesday with the promise of more financial security to its member states and developing countries. Set up by Brazil, Russia, India, China and South Africa, it is seen by many as a counter to the […]
Greece clears arrears at IMF and repays ECB
July 21, 2015 (LBO) – Greece has cleared overdue debt repayments of 2.05 billion euros to the International Monetary Fund (IMF), foreign media reports said.“The IMF confirmed that Greece is no longer in arrears,” the report said. This comes following missing two IMF payments worth 1.556 billion and 0.456 billion euros respectively in June last […]
Greek MPs vote in favour of new austerity measures: Secure third Brussels bail-out
July, 16, 2015 (LBO) – Greek MPs have secured a third Brussels bail-out to ward off the threat of bankruptcy following a vote in favour of new austerity measures, foreign media reports said. “The 300 member parliament voted by a majority of 229 to 64 against on a raft of tax hikes and pension reforms, […]
BRICS, emerging economies launch new development bank
July 10, 2015 (LBO) – Emerging economies, Brazil, Russia, India, China and South Africa (BRICS) launched a development bank and a currency pool, Thursday, foreign media reports said.“Countries attending a two-day summit in Russia for the world’s emerging economies, known as BRICS, have launched their biggest initiative to date: a development bank and a currency […]
Greek Banks extend daily limit on ATMs
July 09, 2015 (LBO) – The government of Greece has extended bank closures and a 66 US dollar daily limit on ATM withdrawals until Monday, Foreign Media reports said.The European Central Bank has decided not to increase support for Greek banks until the debt crisis is resolved, the report said. This is ahead of the […]
The NYSE resumes trading after technical failure; rejects reports of cyber attack
July 09, 2015 (LBO) – The New York Stock Exchange resumed its trading activities after the exchange facing a major technical failure that suspended trading on Wednesday afternoon.“The issue we are experiencing is an internal technical issue and is not the result of a cyber breach,” the NYSE said in a statement.“We chose to suspend […]
Chinese shares drop over 8-pct, amid regulators help
July 08, 2015 (LBO) – China’s main stock index, Shanghai Composite fell 8.2 percent at the start of trading Wednesday with the index dropping 4 percent to 3576.79, foreign media reports said. The smaller Shenzhen Composite fell 3.9 percent. The media report said, the slump came despite more moves by China’s regulators to try and […]