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Wednesday January 16
The newly released World Bank global economic report identified Uganda as the third fastest growing economy in East Africa. The forecast predicted the country would grow at 6.2% according to The Monitor.
Related Blog: Africa: equities and beyond
Ahead of David Cameron’s EU speech, Swedish Finance Minister Anders Borg warned on Wednesday that it was crucial to keep Britain at the center of the union, The Telegraph reported last week. An exit could threaten London’s position as Europe’s top financial centre, he said.
Thursday January 17
The IMF announced on Thursday that it is willing to unfreeze the next tranche of bailout funds to the Greek government. City A.M. reported that the €3.24bn (£2.69bn) installment of cash had been frozen as the IMF “mulled over” reviews of the country’s performance.
Related Viewpoint: Sovereign debt: Patricia Gabaldon on the advantages and difficulties of cuts and spending
Bloomberg Businessweek published an article on Thursday looking back on Mario Draghi’s achievements with the EU. While he had nothing to back up his promises a year ago, “Draghi’s bluff worked” the piece argued. Bond markets were lifted and boosted by the belief that the ECB would deliver on its promise.
Friday January 18
Russia is expected to become Europe's leading economy by 2030, according to an article published by The Guardian last Friday. A newly published report by PWC entitled “Brics and Beyond” predicted that Russia will take Germany’s position and push the UK out of the top 10 by 2050.
Related Viewpoint: Lessons from Russia
In Germany Reuters reported things are starting to look a little better as the country’s business morale and investor sentiment is improving.
Monday January 21
House prices increased across the UK in January, The Wall Street Journal reported on Monday. While the number of new sellers is rising as well, market sentiment seems to have improved according to recent reports.
Related Viewpoint: The Tragedy of the Euro
An article from the EU Parliament News last Monday referred to Italy as a “good example for others to emulate”. According to finance minister Vittorio Grilli, the country seems to be changing strategy and will hope to deliver a balanced budget by the end of the year.
Tuesday January 22
Google has reported stronger than expected revenues in the final quarter of its financial year thanks in part to the 'Gangnam Style' dance craze, The Times reported on Tuesday. Revenue from Google's search page and other assets including YouTube rose to $12.9bn in the quarter with an $8m contribution from advertising on 1.2 billion YouTube views of the Korean pop song.
Related Viewpoint: One-In-Fifty-Year Event
A Bloomberg Businessweek article on Tuesday raised worries over a potential ‘Minsky moment’, in reference to late economist Hyman Minsky. “In light of today’s calm and renewed risk-taking, could another Minsky moment be in the offing?” Businessweek suggested.
The FP&A Innovation Summit taking place in San Diego February 20 & 21, 2013 promises to bring leaders and innovators together to create insight into the forecasting and planning process. Attendees will also gain 14.5 CPE credits. This critically acclaimed event also boasts a high calibre of speaker including: CFO, Food Solutions North America, Unilever- Associate Director, Corporate Finance, Procter & Gamble- Executive Director, Finance & Administration, Estee Lauder
and many more...
Come back next week for another report on the world of business and finance.
Tags: central banks , China , EU , euro , European Monetary Union , Federal Reserve , Germany , Greece , regulation , sovereign debt , UK , US