Tuesday, December 06 , 2011 - 14:54 UTC
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.Uncertainty around the global economic outlook has increased in the weeks since the Bank released its October Monetary Policy Report (MPR). Conditions in global financial markets have deteriorated as the sovereign debt crisis in Europe has deepened. Additional measures will be required to contain the...
Thursday, December 01 , 2011 - 13:29 UTC
Why did six of the world's central banks, including the US Federal Reserve and the Bank of England, announce new co-ordinated action on Wednesday?What are the central banks doing?They are taking action together to prevent the markets' panic about the future of the eurozone and the health of the banking sector from turning into a full-blown credit crunch, when banks refuse to lend to each other. How will they do that    ? The Federal Reserve will make it cheaper for other...
Thursday, November 03 , 2011 - 12:34 UTC
Since the last ECB meeting, and the economic activity continue to show further contraction especially on Germany, and by looking at the overall economic activity of the Euro Zone, we can notice the risk of another contraction as well.  Starting with EU Inflation Rates, Eurozone Manufacturing PMI, EU Services PMI and EU Composite PMI  dropped well below 50.0 barrier (Pessimist).                  ...
Wednesday, November 02 , 2011 - 18:52 UTC
For immediate release Information received since the Federal Open Market Committee met in September indicates that economic growth strengthened somewhat in the third quarter, reflecting in part a reversal of the temporary factors that had weighed on growth earlier in the year. Nonetheless, recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. Household spending has increased at a somewhat faster pace in recent months...
Thursday, October 27 , 2011 - 12:19 UTC
The following is a statement by European Council President Herman Van Rompuy following Wednesday’s euro-zone summit: We are all aware that the situation is serious. From a series of national debt crises, the situation was evolving into a systemic concern, threatening the stability of the Eurozone as whole. This threat has to be contained. We therefore took last Sunday and tonight important decisions on the four fronts where action is needed. 1. A sustainable solution for Greece. We...
Wednesday, October 26 , 2011 - 22:13 UTC
The EU-27 heads of state attending today's key eurozone summit in Brussels have released a joint statement. Here it is in full. At today's meeting, in line with paragraph 7 of the European Council conclusions of 23 October concerning relations between the EU and the Euro area, the members of the European Council were informed by President Van Rompuy about the state of preparations of the Euro Summit that will take place later in the day. They discussed the situation and underlined...
Friday, September 30 , 2011 - 13:31 UTC
Amana Capital has appointed Mr Noor Eldeen Al-Hammoury as Chief Market Strategist. Noor will lead the analysis for major currency pairs as well as examine the decisions made by the main international central banks impacting currencies, commodities, and the equity markets. He will play a significant role in client education and support through various communication platforms including conventional and social media. Ahmad Khatib, Chief Executive Officer, said: "Amana Capital has a huge...
Wednesday, September 21 , 2011 - 19:12 UTC
For immediate release Information received since the Federal Open Market Committee met in August indicates that economic growth remains slow. Recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. Household spending has been increasing at only a modest pace in recent months despite some recovery in sales of motor vehicles as supply-chain disruptions eased. Investment in nonresidential structures is still weak, and the...
Wednesday, September 14 , 2011 - 20:38 UTC
In January 1980 gold hit a record 850 US dollars an ounce. After reaching those dizzy heights it then plummeted down and remained steady in the 300-400 dollar range for some years before starting to climb again to new levels. Now gold has broken through the 1800 dollars an ounce gold barrier and some investors and analysts are wondering, is this going to be a repeat of the 1980 gold spike? In fact, there are many differences between the 1980 spike in the gold price and the current rise in gold...
Sunday, August 07 , 2011 - 21:14 UTC
1. The Governing Council of the European Central Bank (ECB) welcomes the announcements made by the governments of Italy and Spain concerning new measures and reforms in the areas of fiscal and structural policies. The Governing Council considers a decisive and swift implementation by both governments as essential in order to substantially enhance the competitiveness and flexibility of their economies, and to rapidly reduce public deficits. 2. The Governing Council underlines the importance...

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