{DAILY GLOBAL BUSINESS POINT}

The European PIGS countries namely, Portugal / Ireland / Greece / Spain collectively need over 90 billion dollars in the coming two months to repay their maturing debts. The cost of borrowing for these four countries are now over three times the cost of borrowing for UK and Germany.
And the downgrading by Standard & Poors [...]

Standard and Poors is the leading rating agency of the world, and it shook the global markets yesterday by downgrading Greece sovereign rating to Junk status. The rating downgrade made it almost impossible for Greece to borrow any money from the market, even at very high cost of interest.
Now Greece is expected to push through [...]

The next round of global dip or recession is all set to happen, say seasoned experts. In the last few months, the Greece debt problem has been haunting it’s head every few weeks, but the European lead countries like UK , France and Germany have been coming out with suitable soothing statements and vocal commitments.
But [...]

The UK economy continued to recover from recession in the first three months of the year, according to official estimates.
GDP grew by 0.2% between January and March, the Office for National Statistics (ONS) said.
That was weaker than the 0.4% growth predicted by many economists, but the figure may be revised.
The last quarter of 2009 saw [...]

The world’s net rate of forest loss has slowed markedly in the last decade, with less logging in the Amazon and China planting trees on a grand scale.
Yet forests continue to be lost at “an alarming rate” in some countries, according to the UN Food and Agriculture Organization (FAO).
Its Global Forest Resources Assessment 2010 finds [...]

The US technology chief has called on developers to build the “YouTube” of government data.
Vivek Kundra , who is in charge of the US data.gov website, which gives citizens access to reams of official statistics told that he envisaged a world where anyone could “slice and dice” government information and share their results. People can [...]

Pakistan and Iran have signed an agreement for the construction of a much-delayed natural gas pipeline, officials say.
The $7.6bn project is crucial for Pakistan’s growing energy requirements. The country has suffered severe electricity shortages.
The deal was signed between the two countries in Turkey.
The pipeline was initially intended to carry gas on to India, but Delhi [...]

The dragon never seems to sleep. It never even seem to stutter. It grows and grows year after year. And, grows at a fast and furious pace. We are here, talking about China’s growth rates as released by World bank.
The World Bank has raised its 2010 economic growth forecast for China to 9.5% from 9%.
It [...]

The OPEC is getting its act together to curb the oil price drops. The Organisation of Oil Exporting Countries (Opec) has agreed to keep to its existing oil output quota. The decision was widely expected but nonetheless sent the price of the UK benchmark, Brent crude oil, up by 72 cents to $81.25 a barrel.
US [...]

The US Federal Reserve has repeated its pledge to keep interest rates at record lows in order to nurture the economic recovery. The Fed said its main interest rate would be kept at the current 0% to 0.25% range, as widely expected. Its rate-setting committee said that data on the US economy painted a mixed [...]