No further dramatic interventions by the Russian authorities overnight with the result that the rouble has opened five percent weaker against the dollar in Moscow.
The new government will pursue an economic reform agenda that foresees introducing the goods and services tax, encouraging foreign investment and speeding approvals for major business projects, President Pranab Mukherjee said in a parliamentary address on Monday.
The big euro zone development over the weekend was the re-election of ageing Italian President Giorgio Napolitano for a second term. The presumption is that to put himself through this again he must have got pretty serious expressions of intent from the warring political parties that they will strive for some form of grand coalition. That may have been made easier by the resignation of centre-left leader Bersani who was in danger of splitting his own caucus.
If you think of the current presidential campaign as a movie, the economy, by all rights, should have pre-empted most of the drama and handed the lead role to the lantern-jawed financier. The movie would have told of a decent man, so unflappable that he never broke a sweat, who tried his best but couldn’t work his will on the world and make things right. Into that void, walked Republican nominee Mitt Romney, who vowed that he had the experience and strength to turn things around.
Many South Sudanese hoped the country's emergence as the world's newest nation would begin an era of prosperity, but the country has remained mired in disputes with its northern neighbour over oil, the border and a many other issues.
South Africa's economy is still largely under the control of whites who held power under apartheid, President Jacob Zuma has said calling for a "dramatic shift" to redress the wealth balance more evenly in favour of the black majority.
The African Union has moved its July summit to the Ethiopian capital after Malawi blocked the attendance of Sudan's President Omar Hassan al-Bashir, who is wanted by the International Criminal Court (ICC), the bloc said