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Nepal And The World News In Brief (25 November - 01 December)

  2 min 4 sec to read

Fed Plans to Trim Stimulus Soon
Federal Reserve officials said they plan to begin trimming the central bank's stimulus efforts in "the coming months". In the meeting minutes, released on Wednesday, policy makers said they "generally expected that the data would prove consistent with the Committee's outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months". They believe that the US recovery is strengthening, according to minutes from their October meeting.
 
Global Economic growth Slowing: OECD
Global growth for 2013 and 2014 has been downgraded "significantly" after weak prospects in emerging markets, says the Organisation for Economic Co-operation and Development. Global GDP this year is now expected to grow by 2.7%, down from 3.1% forecast in May. But it said global economic growth would speed up by 2015.
 
JP Morgan in Record $13bn Settlement 
US bank JP Morgan Chase has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation. 
 
Gold Posts Biggest Weekly Loss in 2 Months 
Gold ended little changed on Friday but the metal posted its sharpest weekly drop in more than two months as strong US economic data raised uncertainty over the timing of a slowdown in stimulus measures. Spot gold inched up 31 cents to close at $1,242.66 an ounce. The metal hit a fresh 4-1/2-month low of $1,236.29 in the previous session. 
 
China’s Gezhouba Completes Hydro Project in Pakistan
China Gezhouba Group Company recently completed the construction of  N-J Hydro-Power Project successfully. Pakistan State Councilor Syed Ahemed appreciated CGGC for completing the project successfully, CGGC’s representative in Nepal said in a press release issued on Sunday. “CGGC have made great contribution to the N-J hydro power project, I hope the company will continue to work effectively in the days to complete the project successfully,” the press release quoted Ahemed as stating during his visit to the project site recently.

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