MINING Goldcorp CEO Chuck Jeannes “Our bBalance Sheet Is In Great Shape”»
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The U.S. Federal Reserve said Wednesday it will extend Operation Twist, launching another round of bond buying in an effort to drive long-term interest rates even lower. The aim would be to spur more borrowing, spending and economic growth. Chairman Ben Bernanke said the Fed Reserve is open to purchasing more Treasury bonds to lower [...]
Billionaire US investor George Soros has said that German Chancellor Angela Merkel and her government must solve the ongoing euro crisis in the next three months – or Europe will fall into a “lost decade.” “In my judgment, the authorities have a three months’ window during which they could correct their mistakes and reverse the [...]
OTTAWA — Bank of Canada governor Mark Carney will unveil a redesigned $20 bill on Wednesday. The new polymer bank note features an updated design of Queen Elizabeth II and Canada’s National Vimy Memorial and incorporates the latest in anti-counterfeiting technology. Polymer versions of redesigned $100 and $50 bills are already in circulation, and new [...]
STOCKHOLM– On Tuesday, Sweden’s Riksbank released its newest designs of the long awaited new banknotes. The face of Swedish film director Ingmar Bergman will adorn the new 200 kronor note, while children’s author Astrid Lindgren will be the new face on the 20 kronor note, replacing the popular Selma Lagerlöf. Former United Nations secretary-general Dag [...]
AUSTRALIA – There have been proposals to unite the New Zealand and Australian currencies. The suggestion has come from the Productivity Commissions of both countries who are looking into ways to create closer economic relationships between the two trading partners/competitors. At the moment New Zealand enjoys the most value for its agricultural exports because its [...]
The BRICS – Brazil, Russia, India, China and South Africa – have agreed to provide credit to each other in local currencies. Officials say the deal will facilitate economic growth in times of crisis. The currency swap deal is aimed at promoting trade and investment in local currencies as well as to cut transaction costs. [...]
China’s central bank set the daily reference rate for the yuan against the dollar at 6.2891 on Friday, marking the first time the rate has fallen below 6.29 since China began to reform its system for setting exchange rates in 2005. “The change conforms to our expectations as China strengthens its reform of the [...]
DUBAI is set to become the Middle East’s yuan clearing and settlement center by 2015, a United Arab Emirates government economist said on Tuesday. Starting this year, major UAE banks will offer yuan bank accounts for corporate clients. This will be another step to boost the yuan’s role in the region, following a currency-swap agreement [...]
ZIMBABWE has ordered foreign mining firms to deposit their export earnings with local banks, state media reported on Sunday, the latest government move to exert pressure on miners as it tries to address the dollar crunch afflicting its economy. Mines Minister Obert Mpofu told theSunday Mail that cabinet last week had decided to tell mining companies [...]
When we published an article last November on a campaign in Iceland to adopt the Canadian dollar, the notion seemed more like the plot of a whimsical satire than a sombre issue of monetary policy. Think of it: an eccentric little country with a population smaller than Halifax seeks to reverse its sagging fortunes through [...]
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