Economy

Long-standing Identity of US was at Stake, says Federal Reserve Chair

Long-standing Identity of US was at Stake, says Federal Reserve Chair

On Friday, Chair of the Board of Governors of the Federal Reserve System Janet Yellen made an announcement about broadening economic inequality in the United States. According to her, identity of the country as a land of opportunity was in the state from where it might be lost.

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Five Indian-Origin Entrepreneurs in Forbes List of US’ Richest 400

Five Indian-Origin Entrepreneurs in Forbes List of US’ Richest 400

Forbes, American business magazine, has released its annual list of 400 richest people in the US, where Microsoft's former chairman Bill Gates topped the list for the 21st year in a row. His net worth is about $81 billion. Warren Buffett, the CEO and largest shareholder of Berkshire Hathaway, has grabbed second place with a net worth of $67 billion, while Larry Ellison, co-founder and chairman of Oracle Corporation, has been locked in number three spot with a whopping $50-billion net worth.

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Producer inflation moderates by around 1% in August

Producer inflation moderates by around 1% in August

Producer inflation or the producer price index (PPI) for final manufactured goods eased by around 1 percentage point from July 2014 to August this year, according to recently released Statistics SA figures.

In its latest report released on Thursday, Statistics SA said that the PPI for final manufactured goods eased from 8 per cent to 7.2 per cent.

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China sets up new bureau to enhance real estate tax system

China sets up new bureau to enhance real estate tax system

In a bid to augment its land management regulations, China recently set up a Bureau of Real Estate Registration that will roll out a national system of real estate registration.

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Philippines Economy Witnesses more than Expected Growth in 2nd Quarter

Philippines Economy Witnesses more than Expected Growth in 2nd Quarter

The National Statistical Coordination Board unveiled that the economy of Philippines has witnessed more than expected growth in the second quarter. As per the board, majority of the credit should be given to the rise in foreign demand.

Economists expected the gross domestic product for the second quarter to show 6.1% growth. The actual figure turned out to be 6.4% year-on-year growth in GDP. But the first quarter growth was less when compared to the same period last year. The first quarter growth this year was 5.6% and in the same period last year, the growth was 7.9%.

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Draghi says Inflation Expectations Deteriorated across Euro Area

Draghi says Inflation Expectations Deteriorated across Euro Area

According to Mario Draghi, inflation expectations have gone down across the euro area. Draghi has passed signals that policy makers are all set to add fresh monetary stimulus.

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Recovery is not Satisfying for federal Reserve Chair Janet Yellen

Recovery is not Satisfying for federal Reserve Chair Janet Yellen

Federal Reserve Chair Janet Yellen said the recovery in the US has not been satisfying for her and the labor market will take more time to recover fully. Yellen said on Friday in a speech at the Kansas City Fed's annual conference in Jackson, Wyo, that there is no doubt that more Americans are getting jobs, but it is more important to figure out the potential of the economy to attain its maximum employment goal.

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Growth in Germany’s Private Sector strengthens Euro

Growth in Germany’s Private Sector strengthens Euro

Recovery has been finally seen in the Euro after hitting an eleven-month low against the US dollar. Growth in German private sector has contributed significantly in the recovery of the European currency. Rise in Treasury yields has helped the US dollar remain afloat, in addition to benefits of widening interest rate differentials. But the US dollar was still recorded trading below 11-month peaks against a range of major currencies.

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Gold drops to a Two-Month Low

Gold drops to a Two-Month Low

Currently prevailing high U. S. interest rates have strengthened the dollar and this in turn has caused gold to decline to a two-month low in the longest run of declines since June, in London.

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Changes in Temperature and Precipitation Could Lead to Economic Crisis in Cameroon

Changes in Temperature and Precipitation Could Lead to Economic Crisis in Camero

Cameroon's economy is primarily agrarian. About 70% of its population is involved in farming. Changes in temperature and precipitation cause a serious threat to the nation's economy, where agriculture contributes about 45% to the annual GDP.

The semi-arid lowlands and hills are mostly dependent on rainfall and groundwater in the northern parts of Cameroon.

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