It isn't entirely clear why Indonesian President Joko Widodo, popularly referred to as Jokowi, cancelled his dinner plans with Cook but regional experts and media have pinned the blame on the country's forest fires.
"There's a lot of concern about the way growth is calculated and about the speed with which it's calculated. But to me these are sort of minor quibbles. I'm much more concerned about the debt numbers, because no matter how you look at it those are growing much too quickly."
Three officials at the federal labour ministry told Reuters that the ministry was drafting a bill for the upcoming parliamentary session that proposes to loosen strict hire-and-fire rules and make it tougher for workers to form unions.
The 19-country bloc's combined economy grew by 0.3 percent in the final three months of the year from the previous quarter, according to official figures published Friday. This was above analyst expectations and higher than a 0.2 percent expansion in the third quarter.
European Central Bank (ECB) will announce its own version of quantitative easing (QE) or sovereign bond buying at its policy meeting next week. Diego Iscaro, Senior Economist of IHS Global Insight spoke about what kind of QE this will be by the ECB. Watch his interview with Menaka Doshi on CNBC-TV18.
The poll of 36 economists, conducted Feb 19-25, predicted Asia's third-largest economy grew 4.9 percent over a year ago in the three months to December, similar to the 4.8 percent rate in the previous quarter.
In an interview to CNBC-TV18, Paul Edelstein, Director of Financial Economics at IHS Global Insight, spoke about what to make of those Federal Open Market Committee (FOMC) minutes and that entire taper talk.
Until the Fed sees a longer term budget agreement at least going up for the rest of the year, the Fed is not going to taper and it is going to take a couple of months in 2014.
The loss of government services during the three-week shutdown will take a roughly USD 3.1 billion bite out of gross domestic product, according to economists at IHS Global Insight. The shutdown also forced non-government business losses, temporary layoffs and other interruptions in business spending.
Fed has a last chance to taper in middle of December in a situation where the shutdown ends, debt ceiling is raised for a year or two and labour market data looks good. It is more likely they might wait into 2014 when Janet Yellen takes over, says Paul Edelstein, Director-Financial Economics.
The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction.
Nigel Gault, Chief US Economist at IHS Global Insight & Richard Ross of Auerback Grayson shared their view on all this unemployment data in an interview with CNBC-TV18‘s Menaka Doshi.
According to Jan Randolph, director of sovereign risk at IHS Global Insight, Germany is already feeling the effects of the euro zone crisis.
Simon Wardell, crude and geopolitical specialist, director, IHS Global Insight, says that it appears that Syria political situation is moving closer to a resolution as the regime is weakening. Saudi Arabia is producing more than they had ever produced in the past so one can‘t expect more from OPEC states.
Diego Iscaro of IHS Global Insight believes that national governments should step in and help European Union leaders save the eurozone from the financial crisis it is currently experiencing.
A deepening global crisis saw the Peoples Bank of China (PBoC) delivering a surprising 25 basis points rate cut. Todd Lee, chief China economist, IHS Global Insight says any further monetary easing in China will depend on the severity of the situation.
Two major European nations, Greece and France are ready for elections. While Greece will hold its parliamentary elections, France will vote for the second round of presidential elections. The battle between Francois Hollande and Nicolas Sarkozy is very close, with Hollande taking a slight lead in the pre-poll surveys.
The US Federal Reserve and European Central Bank may go their separate ways if Middle East unrest provokes a sustained, inflationary oil price spike.