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05th of October 2010
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News Tag: global

October 3, 2010

Global stock markets experience strong September

by Kay Murchie
Global stock markets experience strong September
Stock markets throughout the world improved during September with Wall Street experiencing its biggest September recovery since the start of the Second World War - more than seven decades ago. The S&P; 500 was up almost 9% during the month, while the Dow Jones gained 7.7%. Increases like this have not been seen since September 1939 - when the Dow Jones surged by ...



September 20, 2010

CEBR: Global economy not heading for double dip

by Kay Murchie
”CEBR:
Influential think tank, the Centre for Economics and Business Research (CEBR), has today said the world is not in danger of a double-dip recession. Despite this, it has revised its growth forecasts downwards, now predicting that the global economy will expand by 3.5% this year and 3.4% next year. Down from the 3.7% and 4.1% respectively. Other economic forecasts are ...



September 9, 2010

Double-dip recession unlikely, says OECD

by Kay Murchie
”Double-dip
Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has today said the global economic recovery is slowing faster and has therefore revised its growth forecast downwards for the G7 leading economies. However, the think tank has said a return to recession is unlikely but "great uncertainty" remains. It has therefore slightly revised its growth forecast for 2010 for the G7 nations ...



August 3, 2010

Australia continues to put brakes on rate hikes

by Kay Murchie
”Australia
The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5% after a series of aggressive rate hikes since October. It is the third consecutive month in which rates have been at this level but economists say the central bank will only leave rates on hold for the short-term. Australia was the first economy ...



July 14, 2010

Australia revises growth forecast downwards

by Kay Murchie
”Australia
Australia has today revised its annual growth forecast from 3.25% to 3% due to uncertainty surrounding the global economic recovery. Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world as it has benefited from an increase in commodity prices, while exports have received a boost due to demand from China for its ...



July 8, 2010

IMF upwardly revises global growth

by Kay Murchie
”IMF
The International Monetary Fund (IMF) has today lifted its global growth forecast for 2010 to 4.6%, up from the 4.2% forecast in April. However, it maintained its 2011 growth forecast at 4.%. The upward revision for 2010 comes despite ongoing financial turmoil in the euro zone, triggered by Greece’s debt crisis that threatened to spread across the region. Washington-based IMF said the revision was ...



June 9, 2010

euro zone debt crisis could hit global economy

by Kay Murchie
euro zone debt crisis could hit global economy
There are fears that the debt crisis in the euro zone could hit the global economy but Australia believes its economy will be unaffected. According to the Reserve Bank of Australia (RBA) governor, Glenn Stevens, the country’s strong trade connections with East Asia means it will be relatively unaffected by the events in the euro zone. The Australian economy is one ...



June 7, 2010

Global stock markets down on US jobs data and Hungary debt fears

by Kay Murchie
Global stock markets down on US jobs data and Hungary debt fears
Asian stock markets were down earlier today while European stock markets followed suit over disappointing US jobs data on Friday and fears that Hungary could suffer a Greek-style debt crisis. Earlier today, Japan's Nikkei 225 closed down 3.8% - its biggest daily fall in 14 months, while the Chinese Hang Seng index lost 2.3%. European markets followed ...



May 26, 2010

OECD raises global growth forecasts

by Kay Murchie
”OECD
Influential think-tank, the Organisation for Economic Co-operation and Development (OECD), has raised its worldwide growth forecasts in its twice-yearly report. The Paris-based Organisation said the global economy is recovering faster than expected with Asia continuing to drive the expansion. However, debt crises in many countries may threaten expansion in the developed world, the OECD warned. Furthermore, there is a risk of overheating in the Chinese ...



May 16, 2010

IMF report reveals “urgent” need to cut deficits

by Kay Murchie
”IMF
In its latest Fiscal Monitor report, the International Monetary Fund (IMF) said that despite the recovery in the global economy, the world’s wealthiest economies urgently need to tackle their debt levels. Its report, and warning, comes as several euro zone nations have introduced tough austerity measures to trim their debt levels, which have caused violent protests amid national strikes. Tough austerity ...



April 25, 2010

G20 summit unveils optimism for global recovery

by Kay Murchie
’G20
The finance ministers of the G20 group of developed and emerging economies issued optimism about the global economic recovery, after it met on April 23 in Washington, D.C. An announcement after the meeting stated that the global economy is emerging faster than expected from its worst recession since World War II. According to the G20 ministers, the recovery was primarily due ...



March 8, 2010

Sustainable banks pledge to serve the poor

by David Masters
Sustainable banks pledge to serve the poor
Eleven industry leading sustainable banks have pledged to deliver banking services to the world's poorest people. The banks made the promise at the second summit of the Global Alliance for Banking on Values (GABV) in Dhaka, capital of Bangladesh, earlier this month. "Fighting poverty will remain the first priority for the banking sector in the foreseeable future," said Fazle Hasan, GABV co-founder. This ...



February 22, 2010

Taiwan and Thailand’s GDP surges due to demand from China

by Kay Murchie
Taiwan and Thailand’s GDP surges due to demand from China
There was further evidence of Asia leading the global recovery today after Taiwan's economy grew at an annualised rate of 18% in the final quarter of 2009. The strong performance was fuelled by demand for hi-tech products from top buyer China and other key export markets in the region. Last month, Taiwan exports experienced their strongest growth in more ...



January 26, 2010

IMF increases growth forecasts for global economy

by Kay Murchie
”IMF
The International Monetary Fund (IMF) has raised its forecast for the global economy in its latest World Economic Outlook report. The IMF believes the global economy will grow by 3.9% in 2010, up from the 3.1% forecast it published late last year. The increase in its projection comes as it emerged that the UK exited recession in the fourth quarter by experiencing ...



January 18, 2010

IMF: Asia leads global recovery

by Kay Murchie
”IMF:
The International Monetary Fund (IMF) has today warned that the global recovery “remains very fragile“. Dominique Strauss-Kahn of the IMF said the global economy has been stronger than expected and China and developing Asian economies are leading the way in the global economic recovery but warned all major economies of an early withdrawal from stimulus packages. He said stimulus measures have led to a ...



November 30, 2009

Stock markets recover after Dubai debt fears ease

by Kay Murchie
Stock markets recover after Dubai debt fears ease
Global markets rallied this morning as fears over the Dubai debt crisis started to ease. As the facts of Dubai’s debt crisis unravelled at the end of last week, shares across the world plunged but have today recovered as confidence returns. It emerged last week that state-owned company Dubai World wanted a six-month holiday from its debt repayments. The state-owned conglomerate ...



November 6, 2009

OECD: Recovery clearly visible in major economies

by Kay Murchie
OECD: Recovery clearly visible in major economies
The Organisation for Economic Co-operation and Development (OECD) has provided a positive outlook for major economies saying "a recovery is clearly visible in the US, Japan and all other OECD economies and major non-OECD economies." The report will give a boost to the UK which did not emerge from recession in the third quarter as expected. According to the OECD, its ...



November 3, 2009

Nokia Siemens and Johnson & Johnson announce thousands of job losses

by Kay Murchie
”Nokia
One of the world’s largest telecommunications equipment suppliers, Nokia Siemens Networks, is to lay off almost 6,000 workers globally in a bid to cut annual costs by €1 billion. The company, which is a joint venture between Finland's Nokia Corp. and Siemens AG of Germany, is struggling amid tough competition and the global recession which has hit ...



September 30, 2009

IMF: Recovery ahead but risks remain

by Kay Murchie
”IMF:
The International Monetary Fund’s (IMF) Global Financial Stability Report has provided a positive assessment of the global economy. It has cut its amount likely to be written off globally in bad loans and investments by $600 billion to $3.4 trillion (£2.1 trillion). According to the IMF, co-ordinated efforts by Governments and Central Banks have helped reduce the losses. The organisation also revised its forecast ...



September 16, 2009

Global recession could result in 25m job losses

by Kay Murchie
”Global
The Organisation for Economic Co-operation and Development (OECD) warned today that in spite of signs of recovery in major economies, the global recession could mean 25 million people will lose their jobs. The news comes after the Office for National Statistics (ONS) today revealed that unemployment in the UK grew by 210,000 to 2.47 million in the three months to ...



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