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ANALYSIS: IN RUSSIA-UKRAINE GAS WAR, PUTIN GROWS STRONGER AND KIEV FACES STARKLY HIGHER PRICES

Posted by Gilmour Poincaree on January 20, 2009

12:54 PM EST, January 19, 2009

by Douglas Birch – Associated Press Writer

PUBLISHED BY ‘NEWSDAY’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘NEWSDAY’ (USA)

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Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, NATURAL GAS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, STAGFLATION, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, UKRAINE | Leave a Comment »

LOW INTEREST RATE CLIMATE WILL BE BASE FOR STRONG MARKET RECOVERY

Posted by Gilmour Poincaree on January 7, 2009

Wednesday January 7, 2009

Comment by Raymond Tang (Chief Investment Officer at CIMB-Principal Asset Management Bhd)

PUBLISHED BY ‘THE STAR'(Malaysia)

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PUBLISHED BY ‘THE STAR'(Malaysia)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, STAGFLATION, THE FLOW OF INVESTMENTS | Leave a Comment »

SUZLON ACQUIRES FIRST TRANCHE OF MARTIFER’S STAKE IN REPOWER (India)

Posted by Gilmour Poincaree on December 31, 2008

30 Dec, 2008, 13:31 hrs IST

ET Bureau

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in AEOLIC, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, GERMANY, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, PORTUGAL, STAGFLATION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

INDITEX GANÓ 843 MILLONES EN LOS NUEVE PRIMEROS MESES, UN 2% MÁS – Las ventas crecieron un 11% entre febrero y octubre, y alcanzaron los 7.353 millones de euros, un incremento que, a tipo de cambio y perímetro constante, se eleva hasta el 14%

Posted by Gilmour Poincaree on December 11, 2008

11/12/2008 08:07

PUBLISHED BY ‘LA GACETA DE LOS NEGOCIOS’ (Spain)

Madrid. Inditex registró un beneficio neto de 843 millones de euros en los nueve primeros meses de su ejercicio fiscal, lo que supone un incremento del 2% respecto al resultado obtenido en el mismo periodo del año anterior, un 4% más a perímetro constante, informó hoy la compañía a la Comisión Nacional del Mercado de Valores (CNMV).

El grupo textil explicó que sus ventas crecieron un 11% entre febrero y octubre, y alcanzaron los 7.353 millones de euros, un incremento que, a tipo de cambio y perímetro constante, se elevó hasta el 14%.

La compañía precisó que, transcurridas seis semanas desde el inicio del cuarto trimestre del ejercicio 2008, las pautas de crecimiento son “similares a las del tercer trimestre”.

El margen bruto de la compañía avanzó un 12%, con lo que se situó en 4.235 millones de euros, y supuso el 57,6% de las ventas. El beneficio bruto de explotación (Ebitda) subió un 5% y se colocó en los 1.545 millones de euros, mientras que el beneficio neto de explotación (Ebit), por su parte, repuntó un 2%, hasta 1.132 millones de euros.

Crecer sin recurrir al endeudamiento

La compañía que preside Amancio Ortega destacó su “fuerte capacidad de generación de caja”, cuya posición neta se incrementó un 9%, hasta 525 millones de euros, lo que le permitió financiar su crecimiento “sin recurrir al endeudamiento”.

En los nueve primeros meses, el grupo abrió un total de 456 nuevas tiendas, 45 más que en el mismo periodo del año anterior, con una inversión de 806 millones. De esta forma, al cierre de octubre Inditex contaba con 4.147 tiendas en 71 países, 456 más que al inicio del ejercicio.

Apuesta por Asia y Europa del Este

Entre los mercados en los que se produjo un mayor incremento en la presencia comercial destaca Rusia, donde el número de tiendas casi se ha duplicado desde el inicio del ejercicio. Otras aperturas reseñables son la tienda Zara inaugurada en Tokio, con la que el grupo alcanzó los 4.000 puntos de venta, así como las primeras tiendas en Montenegro, donde el grupo ha lanzado simultáneamente las cadenas Zara, Pull and Bear, Bershka, Stradivarius y Oysho.

Por su parte, Uterqüe, cadena especializada en accesorios, alcanzaba un total de 24 tiendas a 31 de octubre, entre ellas las primeras en Portugal.

Asimismo, el grupo creó un total de 7.171 nuevos empleos en los nueve primeros meses, de forma que la plantilla de la compañía estaba integrada por 86.688 personas al cierre de octubre. (ep)

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PUBLISHED BY ‘LA GACETA DE LOS NEGOCIOS’ (Spain)

Posted in ASIA, BANKING SYSTEMS, COMMONWEALTH OF INDEPENDENT STATES, ECONOMIC CONJUNCTURE, ECONOMY, EUROPE, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GARMENT INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, SPAIN, STAGFLATION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

CLOSED-DOOR SESSIONS IN ISLAMABAD ON 16TH, 17TH – World experts to discuss 5-year plan to boost tax collection

Posted by Gilmour Poincaree on December 5, 2008

Friday, December 05, 2008

by Ikram Hoti

PUBLISHED BY ‘THE NEWS’ (Pakistan)

ISLAMABAD: International experts are converging on Islamabad to hold “closed-door” sessions on December 16-17 to devise a five-year plan of taxation in the post-IMF-agreement era to boost tax collection in Pakistan without burdening the poor majority who are already suffering history’s worst stagflation.

The sessions are to be aimed at dealing with Pakistan’s national taxation and introduce sub-national taxation for the first time. Details of this version for Pakistan will be chalked out at the sessions of experts. It is IMF condition to improve collection but Pakistan has remained hesitant and needed international help not only in a foreign exchange injection but also in expert assistance that could plan the rescue without causing much stir, inflation and poverty enhancement.

The World Bank and the DFID are the main sponsors of the Dec 16-17 workshop and the media would not be informed about the conduct of, and decisions, at the workshop but The News has been able to acquire some details.

In the first place, the format for the sessions is “closed door’ so that there can be uninhibited discussion of the “issue and concerns of the main stakeholders.”

International experts will include Professor Martinez-Vasquez, Michael Keen, Christopher Waerzeggars and Carlos Silvani, along with the staff of a number of international agencies including the IMF, WB, WHO and DFID.

A “blueprint” for taxation and reforms will be prepared with a clear plan to increase the collection of taxes from 10 per cent (one of the lowest in the world) of GDP to 14-15 per cent.

A new mechanism would be proposed for this purpose to tax areas where the subsistence economy of the poor does not undergo additional cost. This would be simultaneous with another mechanism that would ensure plugging all slippages by installing an online connectivity between the Customs, Income Tax and Sales Tax Departments.

This connectivity would ensure information input to the three sides from taxable business generated in the country and through imports and exports. Efforts already made administratively and technically in this connection would be examined and the Pakistani bosses would be asked to explain why feet were dragged on this previously IMF-sponsored (1995) mechanism and it could not made operational.

They will also be asked to explain as to why the gap between the businesses generated and the taxes collected on them remained unattended and nothing significant was ever done conclusively to asses the gap and to minimise it. That would be a sensitive issue, as it would relate not only to the corruption and dereliction on the part of the tax machinery but also to politicians, the bureaucratic channels in the civil and military apparatus.

A key element in this regard would be the establishment of a tax system that “does not penalise investment and production incentives or discriminate against the poor, and, at the same time, provides adequate revenues in an orderly manner yet under a tight timeframe of 4-5 years.”

It is projected to achieve economic stability while keeping in view the revenue-incentive objectives. This tax reform strategy would need to be closely dovetailed with the administration reforms. A complete reassessment of the Pakistani tax system has already been conducted for this purpose.

The proposals for reform would be offered by Michael Keen of the IMF (Reforming the Income Tax and GST); Kasper Richter of the World Bank.

(Summary of the Bank’s Project Proposals); Ms Ayda and Mr Petit of the WHO (Excise System); Professor Martinez-Vasquez of Georgia State (Tax Policy Options); Carlos Silvani, head of the WB Review Mission (FBR Reforms Review and the Way Forward); Professors Roy Bahl and Sally Wallace (Sub-national Taxation).

“The purpose of the brainstorming sessions is to achieve the objective of a significant enhancement in Pakistan’s domestic resource mobilization as part of its stabilisation and reform strategy.”

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS’ (Pakistan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, DEPRESSION, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, IMF, INDUSTRIAL PRODUCTION, INDUSTRIES, INFLATION, INTERNATIONAL, PAKISTAN, REGULATIONS AND BUSINESS TRANSPARENCY, STAGFLATION, STOCK MARKETS, TAX EVADING, THE FLOW OF INVESTMENTS | Leave a Comment »