Archive for January, 2010
U.S. consumer spending still weak
Stocks had begun the year with a strong start, with the Dow rallying 155.91 points, or 1.5%, on Monday and the S&P 500 and Nasdaq producing comparable percentage gains. Investors are watching the market moves especially closely because January is generally seen as a harbinger of stocks’ performance for the rest of the year.
Indian, Israeli diamond dealers sign MoU
The Israel Diamond Institute Group of Companies (IDI) has signed a Memorandum of Understanding (MOU) with the All India Gems & Jewellery Trade Federation (GJF) for the establishment of areas of cooperation between the two parties, reports IndiaPRWire Tuesday.
Healthy ISM’s manufacturing index greets 2010
The ISM’s manufacturing purchasing managers’ index reported Monday was above the 54.0 forecasted by economists and the U.S. stocks climbed up on the first trading day of 2010. The dollar lost some esteem and the price of commodities rose.
Pakistan meets IMF loan terms
The State Bank of Pakistan claims to have achieved the milestones set by the International Monetary Fund in the Stand-by Agreement signed in December 2008.
US to raise rate, drain reserves
Federal Reserve Chairman Ben Bernanke said Sunday the U.S. central bank has a robust strategy to exit from the extraordinary stimulus it made to counter the worst recession in decades.
The reeling Pakistan rupee
Some of the main factors for the rupee finding the floor in 2009 were the IMF program, slowdown in imports, S&P upgrade of the sovereign credit ratings, easing of inflationary pressures, return of portfolio investment to the equities market and record remittances.