Nepal And The World News In Brief (22-28 July 2013)

China Seen Surpassing US in Superpower Shift 

A new Pew Research Center survey of 38,000 people in 39 countries found the widespread belief that China is well on its way. Overall, a majority or plurality of respondents in only six of the countries surveyed believe the U.S. will remain on top. In both the United States and China, an increasing number of respondents agree with this thesis. (Agency) 

 

Detroit Files for Bankruptcy 

Detroit, known as the center of US auto industry filed for bankruptcy Thursday, becoming the nation’s largest public sector bankruptcy. The move could slash pension benefits to city workers and retirees, and leave bond holders with only pennies on the dollar. The city faces total liabilities of about $18 billion. (Agency) 

 

Strauss-Kahn Joins Rosneft bank 

Two years after resigned as head of the International Monetary Fund (IMF), Dominique Strauss-Kahn has joined the supervisory board of the bank owned by Russia’s largest oil company, Rosneft, the bank said last Monday.The 64-year-old Frenchman was appointed one of the 11 board members of the Russian Regional Development Bank, a subsidiary of the state oil company, a bank spokeswoman said. Strauss-Kahn resigned from the IMF in 2011 after a New York hotel maid accused him of rape. (The Hindu Business Line) 

 

Gold Up on 2nd Straight Week 

Gold rose on Friday to notch its second weekly gain after many investors were soothed by the Federal Reserve’s assurance this week that it will be careful in tapering its economic stimulus. The spot price of bullion hovered near $1,295 an ounce and U.S. gold futures for August delivery settled at $1,292.90 an ounce. 

 

G20 Puts Growth Before Austerity 

The Group of 20 nations put growth ahead of austerity, seeking to rebalance a multi-speed global economy and pledging to shift policy carefully so recovery is not derailed by volatile financial markets. Finance ministers and central bank governors meeting in Moscow on Saturday put the finishing touches to a joint communique. (Agency)