Thailand: Rate cut talk growing in Thailand
According to CNBC, Bank of Thailand is expected to cut its interest rate as soon as in its March meeting, mainly due to the political limbo in which the country is trapped lately. Elections held on 2 February have failed to restore political stability in Thailand. As a result the government is expected to delay large spending including a controversial rice subsidy.
Mexico: Pemex in Joint Venture Talks to Boost Crude Production, CEO Says
Pemex CEO Emilio Lozoya has revealed that the Mexican oil company is already in joint venture talks with foreign companies following the passage of a historic energy reform bill last year. Lozoya explained that there is potential to boost production in the short term, and also envisions greater collaboration with the U.S. and Canada to leverage the region’s oil and gas boom.
Ukraine: Russia boosts Ukraine’s Yanukovich with $2 billion fresh credit
As Reuters reports, Russia said on Monday it would give Ukraine USD 2 billion in cash in order to support its heavily indebted economy. The measure, aims at giving president Yanukovich time, as the economy is starting to perceive the effects of the 12 weeks of unrest and the external balance of the country, as well as its currency has been under severe pressure in the last weeks.
Germany: German house prices overheating, Bundesbank warns
The German Central Bank has warned that international investment has helped to fuel a property bubble in the eurozone’s largest economy. According to official figures, residential real estate prices in 125 cities rose by 6.25 per cent on average last year. In October, it reported that property prices in the biggest German cities were 20 per cent overvalued, suggesting the problem is getting worse.
Greece: Greek 2013 fiscal outcome may be better than expected
Reuters reports that Greece may have achieved a better than expected fiscal outcome in 2013, and might meet the conditions for further disbursements from international lenders.