ECB: Financial Sector In Best Condition Since 2011

The euro zone’s financial sector is in better health now than at any time in the last two years, the European Central Bank said Wednesday in its half-yearly Financial Stability Review.

Japan Risks Yield Jump Undermining BOJ Easing, Fiscal Panel Says

A Japanese government fiscal advisory panel warned that a failure to improve the nation’s finances could trigger a spike in bond yields that makes central bank easing less effective.

John Kerry unveils $4 billion Palestinian investment plan

AL SHUNAH: US Secretary of State John Kerry unveiled a plan to boost the Palestinian economy by attracting $4 billion in private investment, saying it could transform the lives of the people.

Coeure says ECB ready to help set up financial transaction tax - FT

FRANKFURT (Reuters) - The European Central Bank is willing to offer help setting up Europe's planned financial transaction tax to ensure the levy does not destabilise financial markets, the Financial Times quoted a policymaker on Monday as saying.

Fed History Shows Punch Bowl Goes as Jobs Rise: Cutting Research

An improving labor market rather than accelerating inflation made the Federal Reserve decide to end its last three episodes of easy monetary policy. It may be about to happen again, says Barclays Plc strategist Barry Knapp.

Portugal warns of deficit target miss

LISBON: Portugal may request a third revision to deficit targets agreed with EU-IMF creditors as part of its 78-billion euro international bailout, Prime Minster Pedro Passos Coelho warned Friday.

Europe needs Britain, says ECB president Mario Draghi

Mario Draghi, president of the European Central Bank, has issued a plea for a more co-operative Britain to stay in Europe.With the political row over Europe escalating in the UK, Mr Draghi suggested a British exit would be bad for both sides.

Swiss banks facing huge fine over US assets: report

GENEVA: Swiss banks holding US citizens' funds that are not declared to American tax authorities are set to have to pay a massive fine, under a deal between Switzerland and Washington, a newspaper reported Wednesday.

IMF raises Egypt 2013 CPI forecast to 10.9%, highest since 2010

DUBAI: Inflation in Egypt is expected to climb to 10.9 percent this year, the highest level since 2010, the International Monetary Fund said on Tuesday, more than it expected in April.

Vince Cable urges British business to explore non-bank funding

British businesses should look for funding outside the banking sector, Business Secretary Vince Cable has said, marking the latest effort to generate growth among small-and medium-sized businesses.

Unemployment falls in 40 US states, rises in 3

WASHINGTON (AP) — Solid hiring helped lower unemployment rates in 40 U.S. states last month, the most since November.

BOE Will Keep Reviewing Performance of Economic Forecast Model

The Bank of England said that it will continually review its forecasting framework and has made it flexible enough to change its central model if needed, according to a research paper published by the central bank today.

EU Bank Stress Tests Delayed to 2014 on Asset-Quality Review

The European Union’s top banking regulator delayed stress tests until 2014, allowing time for a European Central Bank-led probe into the quality of assets held by some lenders in the debt-laden bloc.

Bank of England offers ray of hope for UK economy

LONDON: Britain's central bank lifted a bit of the gloom hanging over the economy on Wednesday, issuing a slightly improved outlook for inflation and growth for the first time since the financial crisis.

France Leads Europe in Growing Disillusionment With EU

France’s frustration with Europe has soared as French attitudes diverge from German public opinion, a Pew Research Center report shows.

Spain, Portugal push for full banking union as Germany finds hurdles

(Reuters) - Spain and Portugal called on Monday for the euro zone to complete a banking union as Germany underscored legal hurdles before a central element of the plan to deal with failing banks can be introduced.

Fed's Bernanke warns shadow banking risks persist

(Reuters) - Federal Reserve Chairman Ben Bernanke said on Friday that the shadow banking system still posed a threat to financial stability, and funding markets might still not be able to cope with a major default.

G7 nations agree to target tax evasion and avoidance

LONDON: The Group of Seven industrialised nations today agreed that collective action was needed to target tax evasion and avoidance, including by multinational companies using transfer pricing rules to shift profits into tax havens.

Central Banks Keep Easing After Cuts Fail to Spur Growth

Global central bankers are poised to ease monetary policy even further after a wave of interest-rate cuts from India to Poland.

ECB won't cut deposit rate below zero: Poll

LONDON: The European Central Bank will not cut its deposit rate below zero in the next few months, even if some policymakers have talked openly about the possibility, says a firm majority of economists polled by Reuters.

Reinhart and Rogoff correct austerity research error

Two Harvard economists whose widely-cited research on austerity was called into question last month have published a formal correction.

European banking union? Don't hold your breath

BRUSSELS: In June last year, European Union leaders made a great fanfare of committing to 'banking union', a three-step plan to shore up the region's 8,000 banks and prevent a repeat of the debt and financial crisis.

Mario Draghi and the ECB haven't saved the eurozone

Financial markets have a lot of faith in Mario Draghi. Too much faith, in all likelihood. They rallied last summer when the president of the European Central Bank said he would do "whatever it takes" to save the euro.

Israel 2023 Benchmark Bond Yield Jumps After S&P Rating, Syria

Israeli government bonds fell, lifting the yield on the benchmark 10-year debt the most in almost nine months, after Standard & Poor’s cut the country’s rating and amid reports Israel attacked targets in Syria.

Recovery from recession: For US businesses, it has been the best in decades

The economic recovery from the recession that officially ended in 2009 has been extremely disappointing for US consumers.

Banks to repay ECB 616 million euros of crisis loans

FRANKFURT: Banks will return early 616 million euros ($805.29 million) of crisis loans to the European Central Bank next week, the lowest amount since banks started to repay the funds earlier this year.

ECB's Draghi 'ready to act if needed'

The European Central Bank (ECB) said it was "ready to act if needed", should more be required to boost the eurozone's economic health.

Global consumer confidence improves, noticeably in U.S., Japan

LONDON (Reuters) - Global consumer confidence rose in the first quarter, with a marked increase in sentiment in the United States, Japan and northern Europe, a survey showed on Wednesday.

Cyprus parliament readies for bailout vote

NICOSIA: Cyprus' lawmakers are voting Tuesday on a multi-billion bailout agreement aimed at preventing the country from going bankrupt.