TODAY’S TOP ARTICLES – 21 AUG 2014

United States: Fed Surprises with Hawkish Tone, but will Yellen?
Markets are now anticipating a more hawkish tone from the Fed, but maybe not from Fed Chair Janet Yellen when she addresses the annual Jackson Hole symposium Friday. (Source: CNBC)

Thailand: Thailand Coup General Prayuth Chan-ocha Named PM
Thailand’s junta leader Prayuth Chan-ocha has been named the new prime minister of the southeast Asian nation. (Source: BBC News)

China: China State-Owned Enterprises Chiefs Face 50% Salary Cuts As Xi Jinping Launches Reform
Bosses at China’s state-owned enterprises, or SOEs, may face pay cuts of up to 50 percent and endure a restructuring of both their jobs and the organizations they lead, under reforms outlined by President Xi Jinping this week. (Source: International Business Times)

Eurozone: Euro Zone Business Growth Slows in July, Prices Fall: PMI
The PMI survey showed on 21 August that growth in businesses slowed more than expected this month. However, the index remains above the 50-threshold which indicates expansion in the sector. (Source: Reuters)

Ecuador: S&P Raises Long Term Ratings on Ecuador to B-plus
International credit ratings agency Standard&Poor’s raised Ecuador’s credit rating from B to B+. While the new rating still leaves the country below investment grade, the agency stated that it upgraded the rating on the back of the government’s greater fiscal flexibility, better external liquidity position, and the improving investment climate in the country. The ratings change comes after Ecuador issued USD 2.0 billion in denominated bonds in June, for the first time since Rafael Correa voluntarily defaulted on USD 3.2 billion debt in 2008, calling bondholders “real monsters.” (Source: Reuters)

For the latest economic indicators from around the world, please visit us at Focus-Economics.com.

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