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Prospects Daily: European stocks slipped on Friday with the benchmark index falling to a three-week low

Financial Markets…European stocks slipped on Friday with the benchmark index falling to a three-week low as early optimism on Spain’s new austerity measures was short-lived.

Spanish 10-year bond yield rose back above 6% amid uncertainty over its troubled banks before stress test results, fading optimism on the country’s debt cutting plan, and a looming Moody’s rating review which may cost the country its investment grade rating. 

Prospects Daily: European shares and euro continue to slump

Important developments today:

1. European shares and euro continue to slump as Moody’s cuts the rating outlook for Germany, the Netherland, and Luxembourg

2. Output in the Euro Area contracts for the sixth month in July

Prospects Daily: Crude oil prices fall from 9-week high

Important developments today:

1. Crude oil prices fall from 9-week high

2. German producer price inflation falls to lowest in two years

Is There Support for International Development?

Anne-Katrin Arnold's picture

Foreign aid has always been a contentious issue – especially when donor countries are in recession or trying to struggle out of one, while (some) formerly developing countries emerge with a stable and growing economy. From the viewpoint of policy makers in donor countries, the issue certainly has two sides: allocating support to the poorest countries in the world or those plagued by hunger and conflict, or stocking up much needed domestic programs for the poor and disadvantaged at home. Pressure from national interest groups is likely to push policy-makers toward domestic programs.

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

One
The Promising Game-Changers in Global Development: Social Innovators

“Turning on a light, warming a house, and using an appliance are activities that most of us take for granted. But in many parts of the developing world, access to electricity is scarce. Enter “sOccket,” a soccer ball that harnesses the kinetic energy of play to generate electricity. When kicked, it creates energy that can be stored and then used later to charge a battery, sterilize water or light a room.

SOccket has received a lot of attention recently – from the likes of Aneesh Chopra, the first White House chief technology officer, to former President Bill Clinton, who called sOccket “quite extraordinary.” The attention isn’t surprising – the invention is clever, it’s creative, it’s relatively cheap, and it takes on one of the biggest challenges in the developing world.”  READ MORE

Prospects Daily: Financial market volatility is at its lowest since 2007

Important developments today:

1. Financial market volatility is at its lowest since 2007

2. US manufacturing activity remains resilient amid contraction in Eurozone

Prospects Daily: Bank deposits are moving out of riskier European countries

Important developments today:

1. Bank deposits are moving out of riskier European countries.

Prospects Daily: Portuguese government bonds advance following successful short-term debt auction

Important developments today:

1. Portuguese government bonds advance following successful short-term debt auction.

2. Deceleration in Eurozone manufacturing activity slows.


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