Current Affairs Global - 23 August 2013

1. Foreign Direct Investment to China jumped to USD 9.41 billion in July which is 24.13% year on year increase compared to same month last year. For the first seven months of the current year, China-s FDI jumped by 7% to USD 71.39 billion. At the same time, China-s Outbound Direct Investment (ODI) crossed USD 50 billion mark in the first six months. In spite of lower growth, China continues to attract strong FDI due to high investors- confidence in Chinese growth story while India is struggling with high Current Account Deficit and record Rupee depreciation.

2. Germany-s Gross domestic product (GDP) expanded by 0.7% sequentially in the second quarter of current year due to strong pickup in consumption and investment. GDP had stagnated in the first quarter after contracting by 0.5 per cent in the last quarter of 2012. Also Germany posted a budget surplus during the first half of the year which increases optimism about its financial health.