TODAY’S TOP ARTICLES – 12 DEC 2013

Slovenia: Fallen star Slovenia to reveal cost of bank clean-up
CNBC reports that the Slovenian government will publish a report today that shows the extent of losses incurred by its banks since the crisis hit, how much money is needed to keep them afloat and whether help from other Eurozone countries will be required.

Mexico: Mexico opens oil fields to foreign investment
As BBC News reported, Mexico’s Senate decided to open the state-run oil fields to foreign investment for the first time in 75 years. The measure would let private firms explore and extract oil and gas along with state-run oil firm Pemex, and take a share of the profits.

United Kingdom: UK economy set for fastest growth in seven years in 2014 – BCC
Reuters reports that the British Chamber of Commerce (BCC) upgraded its growth forecasts for next year and now expects the economy to expand at the fastest pace in seven years. UK’s economy is projected to grow 2.7%, up from the 2.2% previously estimated. The upgrade comes amid stronger household consumption.

Ukraine: EBRD will fund Sustainable Energy programs
The Kyiv Post reported that the European Bank for Reconstruction and Development (EBRD) has approved the provision $100 million to Ukrainian banks and leasing companies to finance the Sustainable Energy Finance Facilities in Ukraine. The provision comes amid Ukrainian recent conflict with Russia regarding unpaid gas debt and is regarded as a step towards less dependency on Russian gas.

Brazil: Brazil rises rate for subsidized credit lines
Finance Minister Guido Mantega announced that the Subsidized Investment Program (PSI) will be prolonged until, at least, 2014. Mantega also announced a hike in the rate at which the credit to buy capital goods is provided. For the purchase of capital goods and trucks will climb to 6% (from 4%), while a special credit line for exports will bear rates of 8% (from 5.5%).

For latest economic indicators from around the world, please visit us at FocusEconomics.

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