The Mongolian government faces a crushing debt burden and is having trouble meeting its civil service payroll as it has burned through much of its foreign currency reserves.   Very recently, to prop up the tugrik, the world’s worst performing currency in August, the central bank hiked...

US regulators have introduced a set of rules to avoid collapse of systemically important credit institutions. However, smaller banks have to merge to cope with costs of meeting these requirements. The largest banks in the country are actually not allowed to make big deals, yet regional banks are...

Oil production in Norway in July 2016 increased to a record volume for the last five years, exceeding forecasts of experts, said the Norwegian Petroleum Directorate (NPD). According to the NPD, local Norwegian producers are doing everything possible to increase oil production and to compensate for...

European banks and insurance companies are considering custody of money reserves in cash as more financially justifiable in terms of further rate cuts, writes Financial Times. If the world’s financial institutions adopt such a practice, it would undermine ability of central banks to stimulate...

Major US stock indices S&P 500, Dow Jones and NASDAQ synchronously reached historic highs during trading on August 11. Last time this happened in 1999. Value of S&P 500 rose to 2188.45 points during the trading session. This is the highest opening in the index’s history, which began publication...

In the second quarter of the year, debt of the US population increased by $ 35 billion to $ 12.3 trillion. Such a growth was triggered by Fed’s low interest rate, and entailed increased volume of car loans, an increase in credit card debt. Volume of educational and mortgage loans fell slightly....

Consumer spending slows down while business services begin to crawl. On Wednesday, the 10th of August 2016, the Bank of England came out with a survey result that deals with the slow growth of business services and the customer spending rates, which has been partly affected by Britain’s voting...

The emerging economies are gaining the confidence of investors who are being driven by the hunt for yield but this time there are a few key differences this time in the investment types.   Measured by the MSCI Emerging Markets Index, emerging market equities have rallied by 13 percent since...

EU authorities have established new fiscal targets for Spain and Portugal after cancellation of penalties to these countries for the failure of budgetary obligations. Eurozone finance ministers said that Portugal should implement consolidation measures in the amount of 0.25% of GDP in 2016. The...