India’s foreign minister says India’s economic growth will be slower than expected due to the global financial crisis and a series of interest rate hikes. Pranab Mukherjee said Wednesday India’s growth rate will not reach the 9 percent predicted for the current fiscal year. The finance minister said “we must not lose perspective of the […]
Greek Police, Anti-Austerity Protesters Clash in Athens
Posted October 19th, 2011 at 11:35 am (UTC-5)
Demonstrators protesting Greece’s latest austerity measures clashed with riot police Wednesday in Athens, as tens of thousands of workers massed on Greek streets for a two-day general strike. The Athens protesters hurled rocks and fire bombs at police on Syntagma Square outside Parliament, with police countering with bursts of tear gas and stun grenades. A […]
IMF Predicts Economic Progress in Sub-Saharan Africa
Posted October 19th, 2011 at 10:45 am (UTC-5)
The International Monetary Fund says the rate of economic growth in sub-Saharan Africa is expected to rise slightly next year. In a regional outlook report released Wednesday, the IMF predicted the growth rate will rise from more than 5 percent this year to nearly 6 percent in 2012. The IMF said that overall, low-income countries […]
US Pensions Set To Rise Slightly
Posted October 19th, 2011 at 9:55 am (UTC-5)
U.S. pensioners will get a modest increase in payments next year, when Social Security benefits are raised 3.6 percent to make up for inflation. Social Security is the government-funded pension program for the elderly. It is the first such increase since 2009, because the financial crisis kept inflation very low for a while. The Associated […]
Greek Police, Anti-Austerity Protesters Clash in Athens
Posted October 19th, 2011 at 9:50 am (UTC-5)
Demonstrators protesting Greece’s latest austerity measures clashed with riot police Wednesday in Athens, as tens of thousands of workers massed on Greek streets for a two-day general strike. The Athens protesters hurled rocks and fire bombs at police on Syntagma Square outside Parliament, with police responding with bursts of tear gas. Police estimated that about […]
Greek General Strike Ahead of Austerity Vote
Posted October 19th, 2011 at 7:30 am (UTC-5)
A 48-hour general strike is underway in Greece ahead of parliamentary votes on austerity measures meant to stave off bankruptcy. The work stoppage is predicted by union officials to be the largest in years. Tens of thousands of protestors from all sectors converged near the parliament building in central Athens Wednesday to express their anger […]
Greek General Strike Ahead of Wednesday Austerity Vote
Posted October 19th, 2011 at 5:15 am (UTC-5)
A 48-hour general strike is underway in Greece ahead of parliamentary votes on austerity measures meant to stave off bankruptcy. The work stoppage is predicted by union officials to be the largest in years. The work stoppage is disrupting health services, air travel, public transportation, public services and closing schools. However, air traffic controllers are […]
Moody’s Cuts Spanish Credit Rating
Posted October 18th, 2011 at 6:20 pm (UTC-5)
Moody’s has cut Spain’s credit rating by two notches and says the outlook for the Spanish economy is negative. The credit rating agency downgraded Spain’s rating Tuesday to A1 from Aa2. It says no credible resolution to the country’s debt crisis has emerged and that it will take time for confidence to return. Moody’s says […]
Greek Unemployment Nears Record High
Posted October 18th, 2011 at 5:40 pm (UTC-5)
Unemployment in Greece has risen to a near-record high as workers prepare for a two-day general strike to protest plans to cut salaries and fire 30,000 government workers. The Greek government Tuesday said the jobless rate hit 16.5 percent in July, just a shade below the record set in May. Young workers were the hardest […]
Greek Jobless Rate Nears Record High
Posted October 18th, 2011 at 2:05 pm (UTC-5)
Unemployment in Greece has risen to a near-record high, even as workers prepare for a two-day general strike to protest the latest government plan to cut salaries and eliminate 30,000 civil service jobs. Greece said Tuesday that its jobless rate hit 16.5 percent in July, just a shade below the record set in May. Young […]
