Outgoing BoE Governor Mervyn King is expected to dispel some clouds over the UK economy as he is due to present his final forecast. Analysts are strongly convinced that Mr. King will indeed share news indicating that there are signs of a blossoming recovery which is so highly anticipated. Certainly, a delicate taste of optimism would be a beautiful envoy of his service at the Bank of England. Truth be told, Mark Carney, who is going to take the helm from Mervyn King, will have anyway a hard nut to crack as the UK economy is still far from being in the perfect shape.
The doubling of Chinese Yuan trading band indicates official buoyancy in the strength of the economy’s expansion and suggests that the dismissal of Bo Xilai from the communist party leadership has not hampered the policymaking. The change that took effect Monday has added to Jim O’Neill’s confidence in a soft landing.
Las Vegas Sands Chairman and CEO Sheldon Adelson, the U.S. billionaire, launched its long-delayed fourth resort, Cotai Central on Wednesday. It is a $4.4 billion complex that is its latest bet on continued strong growth in the world’s biggest gambling market. The executives of Sands China Ltd. inaugurated the Sands Cotai Central opening the doors to a traditional Chinese dragon dance, high-wire tightrope performance and the unveiling of a 5,500 pound bronze and gold ‘God of Fortune’ statue.