| Economic News CBI Sees Serious Damage For UK Financial Services From EU Rules The U.K. financial services sector would face serious problem from Europe's heavy-handed regulations, the Confederation of British Industry's Director-General John Cridland said Thursday. (Oct 14, 2011) Full Article    Trichet Urges Eurozone Leaders To Resolve Crisis Eurozone leaders must resolve the crisis in Europe and take concrete steps to restore confidence, the outgoing President of the European Central Bank, Jean-Claude Trichet, said as the policymakers prepare for the crucial October 23 summit. (Oct 14, 2011) Full Article Japan Azumi Calls For Large-Scale Funding To Support European Banks Japanese Finance Minister Jun Azumi on Friday said that he will urge the euro area policymakers to introduce a large-scale funding scheme to support financial institutions in euro area, according to reports. (Oct 14, 2011) Full Article ECB's Stark Says Europe Needs Budget Office: Report European Central Bank Executive Board member Juergen Stark told Latvian Radio that Europe requires an independent budget office to monitor the developments among member states and to advise policy makers. (Oct 14, 2011) Full Article U.S. Retail Sales Jump More Than Expected In September Driven in part by a jump in auto sales, U.S. retail sales increased by more than expected in the month of September, according to figures released Friday by the Commerce Department. The report showed that retail sales came in at $395.5 billion in September, representing a 1.1 percent increase over August figures. While economists had expected an increase in sales, most had expected a more modest 0.8 percent increase. (Oct 14, 2011) Full Article U.S. Import Prices Show Modest Increase In September U.S. import prices showed a modest increase in the month of September, according to a report released by the Labor Department on Friday, with the report also showing an increase in export prices. (Oct 14, 2011) Full Article Forex Top Story Singapore Q3 GDP Up 1.3% On Quarter Singapore's gross domestic product jumped by a seasonally adjusted annualized 1.3 percent in the third quarter of 2011 compared to the previous three months, the Ministry of Trade and Industry said on Friday in an advance estimate. (Oct 14, 2011) Full Article S&P Downgrades Spain One Notch On Risks To Growth Outlook, Banking System Standard and Poor's downgraded Spain's long-term credit rating by one notch, citing heightened risks to Spain's growth prospects and a possible further weakening of the financial profile of the Spanish banking system. (Oct 14, 2011) Full Article Singapore Eases Monetary Policy Singapore's central bank on Friday decided to ease its monetary policy at its semi-annual meeting, given the weak growth outlook and expectations for a moderation in core inflation. (Oct 14, 2011) Full Article China Inflation Moderates Again Chinese inflation eased for a second consecutive month in September after peaking to a three-year high in July, providing room for the central bank to relax policy in the face of deteriorating global growth prospects. (Oct 14, 2011) Full Article Eurozone Inflation Surges, Trade Deficit Narrows Eurozone inflation surged to a 35-month high in September on higher energy prices adding to the dilemma of the central bank amid slowing recovery. (Oct 14, 2011) Full Article Political News China Calls For Speedy Reforms In Restive Syria Apparently expressing its displeasure at what is going on in Syria, China urged President Bashar al-Assad to speed up reforms that he had promised by holding talks with the Opposition. (Oct 14, 2011) Full Article US Governors To Visit China For Business Promotion Washington Governor Chris Gregoire will lead next week a delegation of U.S. State and Territorial Governors to China on a mission aimed at boosting trade with the Communist nation. (Oct 14, 2011) Full Article Cape Verde Accedes To Rome Statute Cape Verde has acceded to the Rome Statute, the treaty that established the International Criminal Court (ICC) which prosecutes individuals for genocide, crimes against humanity and war crimes. (Oct 14, 2011) Full Article Analyst Currency Comments USD/SGD Faces Downside Bias As MAS Keep Tightening Bias – Westpac Westpac analysts said on Friday that USD/SGD sees a downside bias in the coming sessions, as the Singapore central bank maintained a tightening bias despite easing the monetary policy. However, the gains in the Singapore dollar may be limited to some extent due to the central bank's dovish outlook. (Oct 14, 2011) Full Article Currency Alerts Australian And New Zealand Dollars Rise Ahead Of G20 Meeting After falling slightly in early Friday Asian deals in response to the Spain rating downgrade, the Australian and New Zealand dollars reversed direction and strengthened further ahead of the European session as investors focus on the G20 leaders two-day meeting, which starts later in the day. (Oct 14, 2011) Full Article Euro Advances Against Most Majors; G20 Meeting Eyed The euro climbed against its most major counterparts, hitting a 2-day high against the dollar, ahead of the G20 nations meeting later in the day. (Oct 14, 2011) Full Article Canadian Dollar Strengthens As Crude Oil Rebounds The Canadian dollar inched higher against its major rivals in early deals on Friday as crude oil, the nation's key export, recovered from yesterday's multi-day lows and rose above $85 a barrel as the US dollar weakened on increasing risk-sentiments. (Oct 14, 2011) Full Article Dollar Stuck Near 4-week Lows Ahead Of Data Deluge, G-20 The dollar was locked in a stalemate versus major rivals Friday morning, ahead of a pivotal meeting of G-20 finance ministers in France. (Oct 14, 2011) Full Article General News Fighter Jet Crashes In China During Air Show A fighter jet of China crashed during an air show in Pucheng county in the country's northwest Shaanxi province on Friday morning. (Oct 14, 2011) Full Article UN Human Rights Chief: Syria Protest Death Toll Crosses 3,000 The U.N. High Commissioner for Human Rights Navi Pillay expressed deep dismay at the worsening human rights situation in Syria, where she says the death toll in seven months of protests against the rule of President Bashar al-Assad has crossed 3,000. (Oct 14, 2011) Full Article Greenpeace UK Director Denied Entry Into Indonesia The Executive Director of Greenpeace UK has been denied entry into Indonesia, where the environment protection agency faced a number of attacks since it stepped up campaign to save the country's rain-forests. (Oct 14, 2011) Full Article Kenya Continues Search For Abducted Spanish Aid Workers Kenyan police continued on Friday search for the two Spanish women aid workers abducted from a refugee camp in a border village amid reports that they had already been taken to neighboring Somalia. (Oct 14, 2011) Full Article | 
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