Philippines: Will typhoon Haiyan derail Philippines’ economy?
CNBC makes an initial assessment of the impact of the recent typhoon on the Philippines’ economy. It is likely that effects will show most in data for the first quarter of next year, with the agricultural sector taking the hardest hit given that much of this year’s harvesting had yet to be completed. The province of Leyte, which was at the center of the storm, produces a high level of rice and sugar. The peso is also expected to suffer the effects of a short term selloff, although a massive amount of foreign aid and remittances will provide much needed support.
Global: EU and US to reach the largest free trade deal
After the US shutdown delayed the meetings scheduled for October, the US and EU will restart negotiations to reach a trade agreement that should provide USD 119 billion annnual benefits for the 28 member countries, as the BBC Reported. An area for which liberalization is supposed to have an essential impact is in the automobile sector.
Greece: Greek Government Survives No-Confidence Vote
The New York Times reports that on Monday the Greek Parliament voted against the no-confidence motion called by the opposition last week after the police raid of the occupied premises of the former ERT’s headquarters.
China: Economists React: Better China Data May Open Door for Reform
WSJ’s China Real Time Report presents a compilation of China’s recent data and the four-day meeting of the Communist Party which will define the country’s direction on economic policy for the next 10 years.
India: India’s Trade Deficit Widens In October Missing Expectation
According to recent data released by the Ministry of Commerce and Industry, the trade deficit widened in October, overshooting market expectations.