Business Corner

International Monetary Fund (IMF) and the European Union eventually stopped to review a Hungarian funding programs implemented since 2008 to save the country from financial crisis. The reason, the two institutions to see Hungary must take strong action in advance to meet the target of cutting its budget deficit.

With the suspension of the talk means that Hungary will not have access to the funds remaining at $ 25, 1 billion packages of loans, made by the International Monetary Fund and the European Union and is now used as a financial safety net, to review the achievements in the country of Hungary. Negotiations with creditors are expected to be completed by early next week. Analysts said the currency could fall sharply Forint when financial markets reopened Monday because of uncertainty over the international safety net for Hungary. Read the rest of this entry »

The leaders of 27 European Union countries, Thursday, giving them the green light to Estonia to adopt the euro currency is problematic since January 1, 2011.

“As a signal that the euro zone is open to all, we make sure that Estonia will adopt the euro on January 1 next year. We congratulated Estonia on the results and all of his efforts,” said President Herman Van Rompuy the European Union after the EU summit in Brussels agreed to step these.

European Parliament gives green light on Wednesday, which means that Estonia is guaranteed to become the 17th state to switch to a common currency. In Tallinn, Prime Minister Andrus Ansip praised the news as confirmation that “a responsible fiscal policy we’ve walked right to Estonia.” Read the rest of this entry »

Shares in Australia’s trading floor went up 0.7 percent in the opening session this morning, led by the raise of mining stocks after Prime Minister Kevin Rudd replaced by his deputy. It breathes hope a deal can be reached regarding the new tax package proposed by the government. Global stocks BHP Billiton and Rio Tintu jumped 2 percent and Fortescue Metals Group grew 2.5 percent.

Julia Gillard becomes Australia’s first woman Prime Minister this morning when Kevin Rudd finally retreated, so the Labor Party government to find a way to anticipate the defeat in elections later this year by replacing its leaders. Gillard estimated would bring more changes in leadership style rather than substance. But investors hoping he would be more lenient on a controversial mining tax plan is “super profitable”, which threatens an investment property worth $ 20 billion in Australia and has been troubling the electorate. Read the rest of this entry »