The dollar fell against most major currencies on Monday as a new Greek state bonds issue eased worries over the country's debt crisis.
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Greece raised $6.94 billion Cdn in the bond markets Monday but paid dearly for the money.
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HSBC (HSBA.L), one of the largest creditors to Dubai World, put its weight behind a debt restructuring plan put forward by the state-owned conglomerate, saying it expected positive results soon.
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Long-dated government bonds issued by Brazil, Indonesia and Poland are attracting the attention of even cautious investors, as they now offer strong yields as well as the chance to gain from an uplift in the exchange rates of their domestic currencies.
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World Bank President Robert Zoellick said Monday that it was timely for China to revalue its currency, amid US criticism that Beijing was deliberately keeping the yuan down to gain a trade advantage.
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South Korea's won and Thailand's baht appreciated on speculation global funds will pour more money into the region to tap the world's fastest economic growth.
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In the middle of the 2001 debt crisis, Argentines stormed their nation's banks to get their money out. To stop the stampede, the government imposed controls that allowed them to take out only $250 at a time and limited withdrawals for overseas trips to $1,000.
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The idea that a hung parliament could be disastrous for the pound is not a new one. For some months, commentators have been writing as much - that the policy stasis it might imply would potentially derail any difficult political decisions to cut the deficit; check out my colleague Jeremy Warner's column on this from four months ago.
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Evidence seems to be mounting that we are headed towards some sort of implosion in the paper Gold market, and perhaps the currency/bond markets in general. Let's take a look
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The population of Dubai increased by 7.6 per cent last year, the emirate's statistical body said yesterday.
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Moody's Investors Services has today announced the credit ratings of the world's four largest AAA-rated nations are viewed as safe.
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Government debt is growing, as is the deficit. The economy is struggling to get out of recession and there is talk of spending cuts or higher taxes. The unions are on edge. And the currency is plummeting.
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Markets have been moving in a very tight range. How do you see them panning out from here?
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The Government today rejected a warning by the European Commission that Britain must do more to reduce its budget deficit, arguing that steep cuts would damage public services.
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THE PRICE OF GOLD slipped last week, now trading 3.6% off its recent high, writes Dan Denning in his Daily Reckoning Australia.
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India's rupee advanced to its strongest level in almost two weeks after Finance Minister Pranab Mukherjee pledged to rein in the budget deficit.
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Ireland enjoyed a boom like no other in the last 10 years, fuelled by foreign investment and runaway property speculation. But it is all over now, and the desire to emigrate, set deep in the nation's psyche, has taken hold once more
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Greece's efforts to restore confidence in its finances have only called attention to its woes, and now investors are fretting debt contagion could spread to other countries, starting with similarly troubled Portugal, but with markets wondering who's next.
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Economic issues in Europe have dominated the news over the last few days. Greece is in real danger of going bust; years of corruption, government overspending, and tax avoidance are coming home to roost.
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GIVING its broad backing to Greece's latest austerity package on Wednesday February 3rd, the European Commission nevertheless said the country’s government must do more to restore its finances, including further cuts in the public-sector pay bill. Although sounding tough in public, the EU's leaders have decided privately that they will have no choice but to bail out Greece if it proves unable to keep funding itself through the bond markets.
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