Economy

40% of Americans are Struggling Financially: Survey

40% of Americans are Struggling Financially: Survey

A recently released Federal Reserve survey has revealed that it has been five years since the great recession took place but till now four in 10 American households are careworn financially. Reasons for this may vary from tight credit, education debt to retirement issues.

The Federal Reserve survey undertakes the study of American consumers, so as to assess their economic well-being and know about the overall economic picture of the economy.

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Nifty Stays above 7700; Markets Rebounds

Nifty Stays above 7700; Markets Rebounds

Indian Stock Market traded positive on Tuesday and BSE Sensex closed just 100 point less than 26,000 while NSE Nifty closed at 7,746.

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Saudi Bourse Bill Approved by Cabinet

Saudi Bourse Bill Approved by Cabinet

To open the Arab World's largest stock market, Saudi Arabia's cabinet finally gave permission to the financial regulator. This is to make direct investment by foreign financial institutions. In the world's largest oil exporter, the Saudi market which is capitalized around $530 billion is amongst the most awaited monetary reforms.

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China’s central bank cuts requirement to support small firms

China’s central bank cuts requirement to support small firms

China's central bank, People's Bank of China has announced its decision to allow reserve-requirement cut to Industrial Bank Co. and China Minsheng Banking Corp in order to allow the small firms to boost business.

The central bank is aiming to boost economic growth without the need for a large scale economic stimulus programme. The PBOC has approved a half percentage-point cut for Industrial Bank and Minsheng Bank.

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Addition of 192,000 Jobs in U.S. Economy in March

Addition of 192,000 Jobs in U.S. Economy in March

Despite of slowdown in economic recovery in winters, the U.S. economy has added 192,000 jobs in March, a good news for jobseekers. The Obama Administration has taken the decision to increase the number of jobs after considering the difficult situation regarding the long-term unemployment, which is about 33% in the country.

Out of total jobs, about 57,000 have been added with rapid expansion of the professional and business services sector, 19,000 jobs in the health care industry and the construction sector.

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Poverty Declining; Financial Inequality Major Issue

Poverty Declining; Financial Inequality Major Issue

The new stats released have suggested decline in the number of poor by 4 million in the country. The prices of commodities are rising and it is becoming increasingly difficult for locals to manage their expenses. As per the data till year 2011, 16.3 million people were below lower-bound poverty line, said statistician general Pali Lehohla.

Social grants have helped in reducing poverty. Compared to 2.6 million grants in 1993, 16.6 million grants were issued in 2011.

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Current Account Deficit Declines; Economy Weakens

Current Account Deficit Declines; Economy Weakens

Lower imports during fourth quarter helped in keeping current account deficit in control. However, the bigger trouble for the economy is the lower spending, which touched low of year 2009 in fourth quarter.

As per the data released by Reserve Bank, the current account deficit declined to 5.1 percent during Q42013. Compared to high of 6.4 percent during third quarter, the current data would give some breather to Reserve Bank and the Ministry of Finance.

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SA GDP Growth 3.8 percent in Fourth Quarter

SA GDP Growth 3.8 percent in Fourth Quarter

The gross domestic product was recorded higher than expected in fourth quarter offering further momentum to economic recovery. The GDP grew by 1.9 percent in 2013 compared to 2.5 percent in 2012. The fourth quarter growth in 2013 remained much higher at 3.8 percent, the only point market experts see positive in the recently announced data.

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Hong Kong Exports Decline Marginally

Hong Kong Exports Decline Marginally

After posting impressive growth in exports for the last 5 months, Hong Kong has reported decline of 0.4 percent decline in exports in January. The imports were also lower and resulted in decline in the trade deficit.

Compared to yearly basis, the imports were down by 2.7 percent in January. During December 2013, imports were higher by 1.8 percent.

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Unemployment Drops Slightly in Last Quarter

Unemployment Drops Slightly in Last Quarter

The unemployment rate in South Africa dropped to 24.1 percent as per the data released for last quarter of 2013. The change is unemployment is small compared to 24.5 percent during previous quarter.

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