UNECE: New European member states will provide growth

The United Nations Economic Commission for Europe (UNECE) reports that it expects the new members of the European Union to form the main engine of economic growth in Europe for 2005.It predicts that the eight central European states which joined the EU last year will see 4.6% growth, and specifically points to countries such as […]

Federal Reserve consider inflation

The US Federal Reserve moved closer to setting up formal inflation objectives.It released data showing expectations of Inflation remaining between 1.50%-1.75% over the next two years.Although not expected during Alan Greenspan’s chairmanship, he ends his position next year, and formal inflation targets are expected to be drawn up by his successor.The issue is expected to […]

US records record trade deficit

In the USA, the Commerce Department has reported that the US trade deficit for 2004 was a record $671.7bn (484bn) - 24.4% above the previous record, which was 2003’s final deficit of $496.5bn.Of that figure, a huge $162 billion was with China alone - the largest ever recorded with a single country, and up 30.5% […]

FTSE 100 enjoys minor high

London’s FTSE-100 share index reached a two-and-a-half year high on the back of a string of strong trading sessions.Expectations of strong economic growth in China for the mid-term provided a boost for UK mining companies with Sino-English operations, in the wake of already good expectations on profit alerts by mining companies such as BHP Billiton, […]

Russian investment rating up

Standard & Poor, a major credit rating agency, has finally followed Fitch and Moody’s positive reclassification of Russia’s debt - and investment rating.Despite the poor publicity surrounding the effective state seizure of Yukos, overall tax and legal reforms, coupled with strong government finances, mean that S&R upgraded Russia as “speculative” to “investment grade”.Under President Putin, […]