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Morning briefing: Greece set to get second installment of loan

*Greece is expected to receive the second installment of a rescue loan from the IMF and the EU next month after making "remarkable" progress in an austerity program that cut civil service pay and increased taxes. The IMF and EU, however, are warning that Greece still faces significant risks in resolving its debt crisis. Greece had come to the brink of defaulting on its mountain of debt in May.

*The Indonesian government said that it has no plans to limit BlackBerry services in the country, contradicting reports on Wednesday. Those reports quoted a member of the Indonesia's telecommunications regulatory board, who said that the country has security concerns similar to those of the U.A.E. and may ban the service. The Ministry of Communication and Information Technology said Thursday that, "So far, there is absolutely no plan to implement a similar ban policy pursued by the United Arab Emirates as we don't see an urgent or strong reason to impose it."

*German industrial orders returned to growth in June, with orders jumping 3.2 percent from the previous month. The country's Economy Ministry said there were an above-average number of large orders, including ones for special vehicles from foreign buyers.

*Russia's record heat wave and worst drought in 50 years may spur inflation and make economic growth more reliant on state support, analysts said.

*Taiwan and Singapore said Thursday that the countries will meet to discuss an economic cooperation agreement. The development could be a breakthrough for Taipei, which was hoping that its improved relations with Beijing would allow it to sign bilateral trade deals that in the past may have been opposed by China.

For more economic and domestic policy news, see my colleague Ezra Klein's Wonkbook.

By Ariana Eunjung Cha  |  August 5, 2010; 7:04 AM ET
Categories:  *Morning briefing  
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