The higher interest rates imposed on small businesses hurt the Spanish recovery program. Despite the expansion of Spanish manufacturing and services sectors of the country, which is the first time in the past two years, the lack of available funds for lending clearly hindered the growth of the country.
Legal & Regulatory
Japan starts study of LNG joint purchase program next month
The government of Japan announced that by next month, it would begin to thresh out the details of a joint procurement plan for the purchase of liquefied natural gas.
South Korea Pension Fund increases stake in local firms as it eases disclosure requirement
The National Pension Service of South Korea increased its stake in six local companies as the government lengthened disclosure times for share purchases over 10%.
OSX Brazil SA to undergo restructuring
Eike Batista's OSX Brasil SA engaged the services of Bingham McCutchen LLP for its restructuring efforts.
Telecom Commission clears TCI exit
The Indian Telecom Commission had cleared the planned exit of Telecommunication Consultants India (TCIL) for its 30% stake in Bharti Hexacom.
Latest News
Standard and Poor's analysts have criticized the practice of Scandinavian banks. The biggest banks of Scandinavia have failed to curb risks of financial innovation and would avoid downgrades unless national regulators requiring stricter measures, according ratings agency to Standard & Poor's.
The rule increasing the processing time from five to fifteen days was met with waves of complaints as it hinders business operations.
Sentix Research Group reported that investor sentiment in the Euro zone was positive and upbeat this month.
Monte Paschi announced that it would approve a stricter restructuring plan on September 24 to qualify for a state bailout.
The General Administration of Customs registered above projected numbers in terms of overseas shipments.
The Municipality of Abu Dhabi launched a new project and sought for investors in its planned installation and operation of street retail kiosks.
BMW is appealing a decision to impose a EUR150 million fine for alleged customs laws violations. German car giant BMW is set to face fines worth EUR100 million in India for allegations of violations committed against the country's importation rules.
An agreement was made between EU Commission and bank officials for a capital hike for the world's oldest bank.
Allegations of anti-competitive activity would be investigated on by the European Commission. A formal statement is being prepared by the European Commission for Gazprom to inform them that allegations have been raised regarding anti-competitive gas pricing.
