Taiwan’s government bonds dropped
and the local dollar advanced as signs the U.S. economic
recovery is gaining momentum brightened the outlook for exports
and fueled demand for higher-yielding assets.
Global funds bought $378 million more of the island’s
stocks than they sold yesterday, the highest net purchases in a
month, according to exchange data. Taiwan’s overseas sales
gained 10.3 percent in February from a year earlier after
slumping 16.8 percent the previous month, official data show.
The central bank, which left its benchmark interest rate at
1.875 percent in December, will next review monetary policy on
March 22. The Ministry of Finance will release its second-
quarter bond auction plan the next day.
Link (submitted by Anna)
Australian manufacturers and the tourism industry are set to face further pain because of efforts to prop up Europe's economy.
Economists warn the recent large cash injection into the eurozone is pushing the Australian dollar higher.
There are also concerns that the growth of China's manufacturing sector is slowing to dangerous levels, and since the Australian economy is so reliant on China that could spell bad news for the local market.
Link (submitted by Jason)
Taiwan stocks clinched a four-day winning streak yesterday, while the New Taiwan dollar surged, as investors became more upbeat over the economy of Taiwan as well as the rest of the world.
Taiwan share prices rose further yesterday amid improved sentiment after China, the United States and Germany reported expansion in their manufacturing activities, dealers said.
Link (submitted by Anna)
Europe's biggest economy exported €1.06 trillion ($1.4 trillion) in the whole of last year, exceeding the one-trillion mark for the first time, the national statistics office Destatis said in a statement. Imports also rose to a record €902 billion.
Exports declined by 4.3 percent in December alone to their lowest level since April, as the effects of the region's debilitating debt crisis increasingly made themselves felt, the data showed.
And with imports also falling by 3.9 percent, Germany's trade surplus - which had ballooned to €158.1 billion throughout the whole of 2011 - contracted to €13.9 billion in December.
Link (submitted by Japhet)
After joining the World Trade Organization, Russia will have to start taxing some agricultural products that are now exempt, a top government official said Thursday.
The government encourages cultivation of several types of produce by waiving value-added tax. Maxim Medvedkov, chief of trade negotiations at the Economic Development Ministry, said the tax will have to be levied on these products so Russia doesn't discriminate against imports.
For example, "if VAT for our carrots is zero, it should be zero for the imports," he said.
Link (submitted by Sun Jin)
