China: China to overtake the US as top trader
According to the BBC News, China has claimed that it is “very likely” that it overtook the US as the world’s top trading nation, a title the US has held for decades. According to the latest data, China’s total trade grew at an annual rate of 7.6% to $4.16tn (£2.5tn) last year. The US is yet to release it full-year figures, but its trade for the first 11 months of 2013 totaled $3.5tn.
Greece: Three arrested, 25 charged over Hellenic Postbank loans worth 500 mln euros
Kathimerini reports another scandal involving Greek banks. A total of 25 people, bank officials of the Hellenic Postbank (TT) have charges of money laundering and fraud against the state. It is believed that the bank have issued loans of EUR 500 million to several entrepreneurs between 2007 and 2012.
United Kingdom: UK Treasury to make debt pledge to Scots
According to the BBC News, the UK Treasury said it will honor all UK government debt issued up to the date of the referendum on Scottish independence, which is due in September 2014. The announcement came amid increasing concerns about rising yields of UK debt.
Thailand: Thailand crisis: Protesters launch Bangkok ‘shutdown’
Protesters have begun blocking roads in parts of Thailand’s capital Bangkok, aimed at ousting the government before snap elections on 2 February.
India: Is India’s recovery over?
CNBC’s interest article about India’s recent economic data. According to CNBC, most analysts remain skeptical about India’s incipient recovery.