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U.S. FEDERAL RESERVE STRUGGLES TO REVIVE ECON GROWTH

Posted by Gilmour Poincaree on January 28, 2009

Thursday, January 29, 2009

Agence France-Presse

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

WASHINGTON, D.C.: The US Federal Reserve wraps up a two-day policy meeting Wednesday focused on new tools to revive a moribund economy that has so far failed to respond to its zero-interest rate policy.

The Federal Open Market Committee (FOMC) meeting was being held six weeks after the central bank slashed its base-lending rate to a range of zero to 0.25 percent and predicted “exceptionally low” rates to persist.

An announcement was due around 1915 GMT Wednesday.

Joseph Balestrino at Federated Investors said he expected some clues from the Fed on additional efforts to get credit flowing in the economy.

“There’s not much more the central bank can do on the monetary policy front after having lowered its target federal funds rate to a record low,” he said.

“What may be worth noting is the language the Fed uses to describe the state of an economy that, since the two-day meeting that ended December 16, appears to have worsened on most every front.”

Balestrino said Fed chairman Ben Bernanke and his colleagues “are likely to be more explicit about their plans for quantitative easing—that is, using measures such as direct injections into banks and purchases of debt securities to pump more capital into ailing institutions and the markets.”

Sacha Tihanyi, analyst at Scotia Capital, said the market expects the Fed to take further action to help fire up growth.

“With rates going nowhere for some time, the market’s focus will be on whether the Fed will be looking to buy government—or corporate—securities in the near future,” Tihanyi said.

“This is a highly controversial step and some see this as somewhat of a high-risk policy but on the other hand, it is one of the few avenues the Fed has left open to it with regard to further easing monetary conditions.”

Despite the zero-rate policy, Bernanke and others have repeatedly said the central bank is not out of ammunition to fight the crisis. But Bernanke avoided the use of the term “quantitative easing,” saying the Fed has engaged in what he called “credit easing” to spur more lending activity.

The Fed “has already done a lot and will continue to do a lot” in addition to moving on interest rates, said Nariman Behravesh, chief economist at IHS Global Insight.

The central bank has already offered exceptional aid to banks and other firms, and has been buying up mortgage-backed bonds and commercial paper to help unfreeze credit in those areas.

Analysts say this has helped somewhat but that credit markets remain under stress, with lenders and consumers skittish about taking on new risks.

Morgan Stanley economist Ted Wieseman said he expected nothing dramatic from the Fed meeting.

“Obviously rates have already been cut about as low as they can go,” he said.

“If long-end [Treasury bond] yields continue surging higher, the Fed will undoubtedly eventually step in and start buying, but such an announcement probably wouldn’t come in an FOMC statement.”

Economist Joseph LaVorgna at Deutsche Bank said the Fed might not yet be ready for direct purchases of US Treasuries.

“Even though we believe the Fed will eventually be forced to purchase Treasuries in an attempt to cap their yields we do not believe the Fed is going to announce those intentions today,” he said.

He said some members might be uncomfortable with what could be seen as a drastic step.

“Rather, we expect the Fed to repeat the ‘committee is evaluating the potential benefits of purchasing longer-term Treasury securities.’”

Scott Brown, chief economist at Raymond James & Associates, said each word of the Fed statement would be weighed and parsed carefully.

“The wording of the policy statement will signal future intentions,” he said.

“In each statement, the Fed describes its economic outlook. A darkening in that outlook would likely mean that further stimulus efforts are coming. A brighter outlook would suggest that policy will become less accommodative.”

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

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Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKING ENVIRONMENT, TRADE DEFICIT - USA, USA | Leave a Comment »

OBAMA COMMITTED TO ‘GREEN’ ECONOMY (USA)

Posted by Gilmour Poincaree on January 28, 2009

Tuesday, January 27, 2009

by Xinhua

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

LOS ANGELES: The Obama administration is pushing forward with plans to aggressively limit greenhouse gas emissions PRESIDENT OF THE UNITED STATES OF AMERICA, BARACK HUSSEIN OBAMAand fight global warming, US media reported.

The plans would include a cap-and-trade initiative to limit greenhouse gases and raise the cost of pumping more carbon into the atmosphere, the Los Angeles Times said Sunday (Monday in Manila).

Under the initiative, the government would set limits on carbon emissions by power plants, factories and other installations, but allow those who emit more to buy or trade permits with companies and facilities that emitted less than the prescribed limit, according to the newspaper.

But the move would amount to a tax, raising energy costs. And several independent studies have suggested that emissions limits would only increase energy price and be a drag on economic growth, at least in the short term.

Despite such fears, the Obama government believed that a “clean energy economy” move would spur competition and promote investment in renewable alternatives to imported oil.

Two-pronged plan

The administration is expected to move forward with a two-pronged effort to stimulate renewable energy supplies and ensure demand for the megawatts they would produce, the newspaper reported.

The first part is to invest heavily in wind power, solar power and biofuels through the massive stimulus bill, while the second is to help those forms of energy compete with cheaper fossil fuels by pumping up fossil fuel costs to reflect the potential economic damage from global warming, according to the paper.

“If we don’t put a price on carbon,” said Democratic Senator Barbara Boxer, chairman of the Environment and Public Works Committee. “We’ll never get these clean energy sources on line.”

Instead of dragging the economy, the plan to limit greenhouse emissions would stimulate the economy and “allow polluters to transition from a high-polluting environment to a low-polluting environment,” said Andy Stevenson, a former hedge fund manager who is now a finance advisor for the Natural Resources Defense Council in New York City.

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PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

Posted in AEOLIC, AGRICULTURE, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), BIODIESEL, BIOFUELS, COMMERCE, COMMODITIES MARKET, ECOLOGICAL AGRICULTURE, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, ETHANOL, FINANCIAL CRISIS - USA - 2008/2009, GLOBAL WARMING, HEALTH SAFETY, HYDROELECTRIC ENERGY, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATURAL GAS, POLLUTION, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE PRESIDENCY - USA, USA | Leave a Comment »

INADIMPLENTES, CONTRIBUINTES TERÃO DE PAGAR ICMS À VISTA (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

Segunda-feira, 26 de Janeiro de 2009 07:31

por Fernanda Mathias

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

Posted in BRASIL, CIDADANIA, CIDADES, COMBATE À CORRUPÇÃO - BRASIL, COMBATE À DESIGUALDADE E À EXCLUSÃO - BRASIL, COMMERCE, CRIMES EMPRESARIAIS, DEFESA DO CONSUMIDOR - BRASIL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIES, INTERNATIONAL, RECEITA FEDERAL - BRASIL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, TAX EVADING | Leave a Comment »

FÁBRICA DE MASSAS FUNCIONAVA DESDE 2002 SEM LICENÇA (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

Segunda-feira, 26 de Janeiro de 2009 12:34

por Aline Queiroz

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

Posted in ALIMENTOS PROCESSADOS, ATIVIDADES CRIMINOSAS - BRASIL, BRASIL, CIDADANIA, COMBATE À CORRUPÇÃO - BRASIL, COMMERCE, COMMODITIES MARKET, CRIMES EMPRESARIAIS, CRIMINAL ACTIVITIES, DEFESA DO CONSUMIDOR - BRASIL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, O PODER EXECUTIVO ESTADUAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, TAX EVADING | Leave a Comment »

PARA ENFRENTAR CRISE, CMC APOSTA EM AÇÕES COM GOVERNO (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

Segunda-feira, 26 de Janeiro de 2009 21:34

por João Humberto

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

Posted in BRASIL, COMMERCE, COMMODITIES MARKET, DESENVOLVIMENTO SUSTENTÁVEL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO AGRÍCOLA, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, O PODER EXECUTIVO ESTADUAL, O PODER EXECUTIVO FEDERAL, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

BOLIVIANS APPROVE NEW CONSTITUTION

Posted by Gilmour Poincaree on January 26, 2009

Sunday, January 25, 2009

by Tyler Bridges – McClatchy Newspapers

PUBLISHED BY ‘McCLATHY NEWSPAPERS’ (USA)

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PUBLISHED BY ‘McCLATHY NEWSPAPERS’ (USA)

Posted in BOLIVIA, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, HUMAN RIGHTS, INTERNATIONAL, NATIVE PEOPLES, RECESSION, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

INDÚSTRIA DA CONSTRUÇÃO TERÁ MENOS PRESSÃO COM REDUÇÃO DOS JUROS (Brazil)

Posted by Gilmour Poincaree on January 22, 2009

Quinta-feira, 22/01/2009 – 10:10

Jornal da Mídia

PUBLISHED BY ‘JORNAL DA MÍDIA’ (Brazil)

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PUBLISHED BY ‘JORNAL DA MÍDIA’ (Brazil)

Posted in BANCO CENTRAL - BRASIL, BRASIL, CEMENT, CENTRAL BANKS, CONSTRUCTION INDUSTRIES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FLUXO DE CAPITAIS, INDÚSTRIA DA CONSTRUÇÃO CIVIL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, O MERCADO FINANCEIRO, O PODER EXECUTIVO FEDERAL, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, TAXA SELIC, THE FLOW OF INVESTMENTS | 1 Comment »

U.S. HOUSE OF REPRESENTATIVES PASSES PRO-LABOR BILLS

Posted by Gilmour Poincaree on January 21, 2009

January 20, 7:03 AM

by Matthew Nelson – Business Law Examiner

PUBLISHED BY ‘THE EXAMINER’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE EXAMINER’ (USA)

Posted in BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, THE WORKING ENVIRONMENT, USA | Leave a Comment »

THE NUMBERS ARE HORRIFYING (USA)

Posted by Gilmour Poincaree on January 20, 2009

Jan. 26, 2009

Mohamed A. El-Erian

PUBLISHED BY ‘NEWSWEEK’ – print edition -(USA)

NEWSWEEK – Jan. 26, 2009

GLOBAL INVESTOR

By Mohamed A. El-Erian

THE NUMBERS ARE HORRIFYING

On Tuesday, President-elect Barack Obama inherits an economic calamity, and the situation will get worse in the first few months of his presidency regardless of what he does. How quickly it improves thereafter is not just a matter of which policies he decides to pursue; importantly, it is also a function of how he pursues them. Investors need to pay close attention lest they experience yet another challenging and, in some cases, devastating year.

No one should doubt that we are still in the midst of a historic economic crisis. Having incurred massive losses, individuals and companies around the world are, not surprisingly, saving more—some by choice as they attempt to restore balance to their finances and others by necessity as their credit lines are cut by beleaguered lenders. As detailed elsewhere in this edition of NEWSWEEK, the world has entered an Age of Thrift. Less spending by individuals will mean even lower demand, and the production of goods and services will be cut, again.

The latest economic data vividly illustrate the self-fulfilling nature of this global phenomenon. The numbers are horrifying, and increasingly so. There’s been a violent collapse in industrial production in Europe; the latest monthly data now show annual contractions of 17 percent in Spain, 13 percent in the U.K., 9 percent in France and Italy, and 6 percent in Germany. Emerging economies are now on the same course, with contractions of 9 percent in Russia and 4 percent in Brazil.

At the same time, the labor market is deteriorating dramatically in both Europe and America. The United States has now registered 12 consecutive months of job losses, including more than half a million in December, bringing the 2008 total to 2.6 million—a level not seen for more than 60 years. The crisis continues to catch people by surprise, suggesting that too few people sufficiently understand its dynamics. The U.S. Commerce Department reports that December retail sales declined at more than twice the rate expected by most forecasters, and further extended the record for consecutive monthly declines, now six .and counting. President elect Obama faces the prospect of more corporate defaults, pension losses and personal bankruptcies in the coming months. Fortunately, he has already shown that he has a good understanding of the need for an aggressive fiscal stimulus, and Congress seems to be onboard.

Without massive public stimulus, there is little chance of countering the highly disruptive consequences of a too sudden and too prolonged ascent of the Age of Thrift.

Yet there is a risk that this consensus could break down in quibbling over the details. Specifically, we should stop the bickering over whether to cut taxes or raise spending. Both are required. The tax cuts should work mainly through employment channels, including a cut in the payroll tax as this will directly help employment and limit the fall in consumption. Government spending should focus on sectors that will quickly raise resource productivity, like infrastructure, which helps lower production costs, and social services, which raise human productivity overtime.

Obama also needs to step up efforts to alleviate the credit crunch. This is not about an immediate recovery in the banking system. It won’t happen. The sector is too damaged to act as a conduit of funds to the general economy. Instead, the government must come up with more imaginative ways to provide direct financing, particularly for mortgages and some areas of consumer finance.

Obama’s economic appointments suggest that he understands how important it will be to get the design and implementation of these policies right. The highly capable Larry Summers and Tim Geithner should focus on coming up with a master plan to lead the country out of the crisis. This will ensure that the immediate measures implemented are consistent over time with a resumption of economic growth and rising productivity.

Managing expectations is also more important than ever. In his remarks on the financial crisis in November and December, Obama came across as informed, committed and careful not to over-promise. Yet his efforts have been largely negated by recent talk out of Washington of regulatory clampdowns, potential abrogation of property rights and other non-market solutions. The president-elect will have to step up quickly to the challenge of consistently better communication if he is to instill the confidence that is critical for a meaningful economic turn later this year.

Finally, Obama should signal clearly that he knows a global dislocation requires a global response. What was a U.S. financial crisis has morphed into a challenge to the international market system. An effective solution will not materialize unless the United States takes a policy leadership role on the global stage. It’s a role no other country can credibly play. With Obama as president, the world is exceptionally welcoming to U.S. leadership. He must seize this opportunity for the economic good of America, and the world.

ELERIAN is CEO and co-CIO of PIMCO and author of “When Markets Collide: Investment Strategies for the Age of Global Economic Change,” winner of the 2008 FT/Goldman Sachs business book of the year award.

PUBLISHED BY ‘NEWSWEEK’ – print edition -(USA)

Posted in AGRICULTURE, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, HEALTH CARE - USA, HOUSING CRISIS - USA, HUMAN RIGHTS, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

A FABLE IN THE FOLLY – AS A LEADER SEEKS TO BECOME A LEGEND – AS A CARD-CARRYING MEMBER OF THE VAST RIGHT-WING CONSPIRACY, I HAVE A SPECIAL INAUGURATION DAY MESSAGE FOR MY FELLOW CONSERVATIVES: SHUT UP

Posted by Gilmour Poincaree on January 20, 2009

Tuesday, January 20, 2009

by Michael Graham

PUBLISHED BY ‘THE BOSTON HERALD’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BOSTON HERALD’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE PRESIDENCY - USA, THE WORK MARKET, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, USA HUMOR | Leave a Comment »

GERMANY

Posted by Gilmour Poincaree on January 19, 2009

Sunday, January 18, 2009

The International News

PUBLISHED BY ‘THE INTERNATIONAL NEWS’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INTERNATIONAL NEWS’ (Pakistan)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, DEUTSCHMARK (Germany), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

REPUBLICANS BEND RULES TO MAKE SURE OTHERS CAN’T – SEEN BIG FOOT LATELY? THEN YOU’VE PROBABLY SEEN AN UNDOCUMENTED WORKER USING A FAKE ID TO VOTE (USA)

Posted by Gilmour Poincaree on January 18, 2009

Sunday, January 18, 2009

by John Kelso – American-Statesman Staff

PUBLISHED BY ‘THE AUSTIN AMERICAN-STATESMAN’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTIN AMERICAN-STATESMAN’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRADE DEFICIT - USA, USA, USA HUMOR | Leave a Comment »

TURKISH GOVT PROPOSES FRESH STIMULUS FOR ECONOMY

Posted by Gilmour Poincaree on January 16, 2009

Thursday January 15 2009

Reuters

PUBLISHED BY ‘THE GUARDIAN’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CURRENCIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, TURKEY | Leave a Comment »

GERMANY PUSHES BOLDER RESCUE PLAN

Posted by Gilmour Poincaree on January 15, 2009

13:33 GMT, Wednesday, 14 January 2009

by Yvonne Murray – BBC News, Berlin

PUBLISHED BY ‘BBC NEWS’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘BBC NEWS’ (UK)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, MACROECONOMY, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

DILLON URGES STATE TAX REFORM – HOUSE SPEAKER WANTS PLAN FOR SIMPLER SYSTEM CONDUCIVE TO JOB GROWTH ON BALLOT FOR VOTERS IN YEAR (USA)

Posted by Gilmour Poincaree on January 15, 2009

Thursday, January 15, 2009

by Gary Heinlein and Mark Hornbeck – Detroit News – Lansing Bureau

PUBLISHED BY ‘THE DETROIT NEWS’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DETROIT NEWS’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, HOUSING CRISIS - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORKERS, USA | Leave a Comment »

DETROIT AUTO SHOW – GRANHOLM APPROVES INCENTIVES TO JUMP-START BATTERY INDUSTRY – $335M IN TAX CREDITS APPROVED FOR MANUFACTURERS (USA)

Posted by Gilmour Poincaree on January 15, 2009

Thursday, January 15, 2009

by Christine Tierney – The Detroit News

PUBLISHED BY ‘THE DETROIT NEWS’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DETROIT NEWS’ (USA)

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GLOBAL WARMING, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, POLLUTION, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, THE ELETRIC CAR, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

ECONOMISTA PREGA PROTECIONISMO PARA DESENVOLVIMENTO DE PAÍSES POBRES

Posted by Gilmour Poincaree on January 14, 2009

12 de Janeiro de 2009 – 23h53

Vinicius Konchinski – Repórter da Agência Brasil

PUBLISHED BY ‘AGÊNCIA BRASIL’

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PUBLISHED BY ‘AGÊNCIA BRASIL’

Posted in AFRICA, ASIA, BALANÇA COMERCIAL, BRASIL, CENTRAL AMERICA, COMÉRCIO - BRASIL, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, FOREIGN POLICIES, INDÚSTRIAS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, LATIN AMERICA, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH AMERICA, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

LONG RECESSION SAPS MINNESOTA TAX REVENUES – FALLING FASTER THAN EXPECTED, REVENUES WERE ABOUT $131 MILLION LESS THAN PROJECTED FOR 2008’s FINAL MONTHS (USA)

Posted by Gilmour Poincaree on January 13, 2009

January 12, 2009 – 11:34 PM

by Pat Doyle – Star Tribune

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

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PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

WORLD ECONOMIES

Posted by Gilmour Poincaree on January 12, 2009

January 12, 2009 Monday – Muharram 14, 1430

Dawn

PUBLISHED BY ‘DAWN’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

A TOBACCO-STYLE TAX ON FATTENING DRINKS – NEW YORK GOVERNOR DAVID PATERSON WANTS TO FIGHT OBESITY BY TAXING CERTAIN, BUT NOT ALL, SWEET DRINKS. COULD AN ‘OBESITY TAX’ ACHIEVE MUCH? – THE IDEA FOR “A TOBACCO-STYLE TAX ON FATTENING DRINKS” CAME FROM BUSINESSWEEK READER CHARLES WEBER, A U.S. NAVY VETERAN AND RETIRED ELECTRICAL CONTRACTOR IN HENDERSONVILLE, N.C. (USA)

Posted by Gilmour Poincaree on January 12, 2009

January 11, 2009, 8:07PM EST

by Catherine Arnst

PUBLISHED BY ‘BUSINESS WEEK’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘BUSINESS WEEK’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, BEVERAGES, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

IRISH ECONOMY ‘WILL LEAD EUROPE WITHIN A DECADE’ – US ECONOMIST THINKS GROWTH RATES WILL EVENTUALLY OUTSTRIP MAIN RIVALS

Posted by Gilmour Poincaree on January 12, 2009

Sunday 11 January 2009

by Henry McDonald – The Observer

PUBLISHED BY ‘THE GUARDIAN’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, EUROPE, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, IRELAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

OIL EXECS SEE GROWTH IN RENEWABLE ENERGY

Posted by Gilmour Poincaree on January 12, 2009

Mon, Jan. 12, 2009

by H. Josef Hebert – Associated Press Writer

PUBLISHED BY ‘THE WICHITA EAGLE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE WICHITA EAGLE’ (USA)

Posted in AEOLIC, BIOFUELS, BIOMASS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GLOBAL WARMING, HYDROELECTRIC ENERGY, HYDROGEN - FUEL CELLS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, POLLUTION, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, SOLAR, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

TORIES LACK CREDIBILITY ON THE ECONOMY (UK)

Posted by Gilmour Poincaree on January 12, 2009

Saturday, 10 January 2009

by Jeremy Warner

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, POUND (Britain), PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORKERS, UNITED KINGDOM | Leave a Comment »

MERKEL MAKES £44BN U-TURN TO TRY TO SAVE SINKING GERMAN ECONOMY – CRITIC OF UK’S ‘CRASS KEYNESIANISM’ OFFERS PACKAGE OF TAX CUTS AND STATE SPENDING

Posted by Gilmour Poincaree on January 12, 2009

Sunday, 11 January 2009

by Tony Paterson in Berlin

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, DEUTSCHMARK (Germany), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

NEW OIL POLICY ENVISAGES INCENTIVES FOR EXPLORATION – THE NEW PETROLEUM POLICY APPROVED BY THE ECONOMIC COORDINATION COMMITTEE (ECC) OF THE CABINET ON FRIDAY ENVISAGES AN INCREASE IN TAX EXEMPTIONS AND FISCAL INCENTIVES TO SPUR OIL AND GAS EXPLORATION AND A REDUCTION IN BUREAUCRATIC HURDLES IN THE AWARD OF CONTRACTS FOR EXPLORATION (Pakistan)

Posted by Gilmour Poincaree on January 11, 2009

by Dawn Staff Reporter

PUBLISHED BY ‘DAWN’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DAWN’ (Pakistan)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, MACROECONOMY, PAKISTAN, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

OIL GIANT COMES IN FROM THE COLD – EXXON FUNDED GLOBAL WARMING DENIAL FOR YEARS. YESTERDAY, IN AN ASTONISHING U-TURN, IT CALLED FOR THE IMPOSITION OF GREEN TAXES

Posted by Gilmour Poincaree on January 10, 2009

Saturday, 10 January 2009

by Stephen Foley in New York

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

Posted in BANKING SYSTEM - USA, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FUELS, GASOLINE, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | 1 Comment »

CITIGROUP BACKS CONGRESS PLAN TO RELIEVE STRUGGLING U.S. HOME OWNERS – CONGRESSIONAL LEADERS SAID THEY HAVE REACHED AGREEMENT WITH CITIGROUP ON LEGISLATION TO PROVIDE RELIEF TO CASH-STRAPPED HOMEOWNERS AT RISK OF LOSING THEIR HOMES

Posted by Gilmour Poincaree on January 9, 2009

January 09, 2009

From correspondents in Washington – Agence France-Presse

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

‘IT IS BUSINESS AS USUAL’ FOR CANADIAN LENDING, BANK CEOS ASSERT

Posted by Gilmour Poincaree on January 9, 2009

1/8/2009 9:37:00 AM

The Canadian Press

PUBLISHED BY ‘STOCKHOUSE’ (canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘STOCKHOUSE’ (canada)

Posted in BANKING SYSTEMS, CANADA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

COMMERZBANK TO GET US$13 BILLION FROM GERMAN GOVERNMENT FUND

Posted by Gilmour Poincaree on January 9, 2009

1/8/2009 9:47:00 AM

The Canadian Press

PUBLISHED BY ‘STOCKHOUSE’ (canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘STOCKHOUSE’ (canada)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, GERMANY, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

EM CARTA, LULA PROMETE AJUDA AOS PREFEITOS QUE TOMARAM POSSE EM 1º DE JANEIRO (Brazil)

Posted by Gilmour Poincaree on January 7, 2009

06/01/2009 20:45

por Daniel Pereira – Correio Braziliense

PUBLISHED BY ‘CORREIO BRAZILIENSE’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CORREIO BRAZILIENSE’ (Brazil)

Posted in A PRESIDÊNCIA, BRASIL, CIDADES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, INTERNATIONAL, LUIS INÁCIO LULA DA SILVA, O PODER EXECUTIVO FEDERAL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECEITA FEDERAL - BRASIL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

MASSACHUSETTS INCREASES TAXES FOR SMALL BUSINESSES (USA)

Posted by Gilmour Poincaree on January 7, 2009

January 6, 2009 11:05 AM

by Jamie Downey

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, RECESSION, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

FIGHTING OFF DEPRESSION (USA)

Posted by Gilmour Poincaree on January 6, 2009

January 5, 2009

by Paul Krugman

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (UK)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, DEPRESSION, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HEALTH CARE - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, NATIONAL DEBT - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, THE WORK MARKET, TRADE DEFICIT - USA, USA | Leave a Comment »

WEAK ECONOMY – EXPENDITURE ON THE INCREASE (Pakistan)

Posted by Gilmour Poincaree on January 3, 2009

December 29, 2008

by Zia-ul-Haq Sarhadi

PUBLISHED BY ‘THE DAILY JANG’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DAILY JANG’ (Pakistan)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, PAKISTAN, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

TAX EVASION, MONEY FLIGHT EYED IN SENATE FERTILIZER PROBE (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

01/03/2009

by Angie M. Rosales

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CORRUPTION, ECONOMIC CONJUNCTURE, ECONOMY, FERTILIZERS, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, INDUSTRIES, INTERNATIONAL, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, TAX EVADING | Leave a Comment »

HARSH DOSE OF REALITY TO HIT AMERICA AFTER INAUGURATION

Posted by Gilmour Poincaree on January 2, 2009

January 3, 2009

Ian Munro in New York

PUBLISHED BY ‘THE SIDNEY MORNING HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE SIDNEY MORNING HERALD’

Posted in AGRICULTURE, AL QAEDA, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, DEFENCE TREATIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EDUCATION, ELECTIONS 2008 - USA, ENVIRONMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES - USA, HEALTH CARE - USA, HISTORY, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, NATO, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE OCCUPATION WAR IN IRAQ, THE PRESIDENCY - USA, THE UNITED NATIONS, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, UNEMPLOYMENT, USA, WAR IN AFGHANISTAN | 1 Comment »

MASSACHUSETTS APPROVES TAX INCENTIVES FOR 15 PROJECTS (USA)

Posted by Gilmour Poincaree on January 2, 2009

December 31, 2008 09:02 AM

by Todd Wallack – Globe Staff

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in BANKING SYSTEM - USA, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, MACROECONOMY, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

PANEL WANTS FUEL TAXES HIKED TO FUND HIGHWAYS (USA)

Posted by Gilmour Poincaree on January 2, 2009

January 1, 2009

by Joan Lowy – Associated Press Writer

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in BANKRUPTCIES - USA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FUELS, GASOLINE, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

VENEZUELA SLASHES US DOLLAR QUOTA – THE VENEZUELAN GOVERNMENT HAS CUT THE OFFICIAL NUMBER OF DOLLARS VENEZUELANS CAN SPEND ABROAD WITH THEIR CREDIT CARDS FROM $5,000 TO $2,500 A YEAR

Posted by Gilmour Poincaree on January 2, 2009

10:55 GMT, Thursday, 1 January 2009

BBC News

PUBLISHED BY ‘BBC NEWS’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘BBC NEWS’ (UK)

Posted in BANKING SYSTEMS, COMMERCE, CURRENCIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INTERNATIONAL, JUDICIARY SYSTEMS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, VENEZUELA | Leave a Comment »

MAJLIS PRIORITIZES ECONOMIC REFORM PLAN – THE MAJLIS HAS DECIDED TO MAKE THE NATIONAL ECONOMIC REFORM PLAN A SINGLE URGENCY ISSUE ON THE PARLIAMENT’S AGENDA (Iran)

Posted by Gilmour Poincaree on December 31, 2008

News Code : TTime- 185966 – Wednesday, December 31, 2008

Tehran Times Political Desk

PUBLISHED BY ‘THE TEHRAN TIMES’ (Iran)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TEHRAN TIMES’ (Iran)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, IRAN, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, THE FLOW OF INVESTMENTS | Leave a Comment »

ECONOMY DISCUSSION SHOULD GO BEYOND BAILOUTS

Posted by Gilmour Poincaree on December 31, 2008

December 30, 2008, 23:46

by Farhan Bokhari – Special to Gulf News

PUBLISHED BY ‘THE GULF NEWS’ (Dubai)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GULF NEWS’ (Dubai)

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

THREE BOTTLENECKS PUNISH BUSINESSES – COMPLICATED ADMINISTRATIVE PROCEDURES, UNSKILLED LABOUR AND POOR INFRASTRUCTURE REMAIN THE THREE BIGGEST OBSTACLES FOR ENTERPRISES DOING BUSINESS THIS YEAR (Vietnam)

Posted by Gilmour Poincaree on December 30, 2008

16-12-2008

ANI

PUBLISHED BY ‘THE VIETNAM INVESTMENT REVIEW’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE VIETNAM INVESTMENT REVIEW’

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NATIONAL WORK FORCES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, VIETNAM | Leave a Comment »

WISDOM SERIES: EDWARD SONSHINE WOULD SPEED UP INFRASTRUCTURE SPENDING

Posted by Gilmour Poincaree on December 27, 2008

Wednesday, December 24, 2008

Garry Marr – The Financial Post

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in AGRICULTURE, AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FARMING SUBSIDIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, NATIONAL DEBT - USA, NATIONAL WORK FORCES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE ISRAELI-PALESTINIAN STRUGGLE, THE OCCUPATION WAR IN IRAQ, THE WORK MARKET, THE WORKERS, TRADE DEFICIT - USA, USA, WAR IN AFGHANISTAN, WARS AND ARMED CONFLICTS | Leave a Comment »

FIRST-SEMESTER – PUBLIC-SECTOR SURPLUS ABOVE GOAL (Philippines)

Posted by Gilmour Poincaree on December 27, 2008

Friday, December 26,2008

by Chino S. Leyco – Reporter

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA TIMES’ (Philippines)

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FOREIGN DEBTS, FOREIGN WORK FORCE - LEGAL, HEALTH CARE, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

PSUS CAN STAY INVESTED IN MFS – EXPORTERS GET RS 350-CR PACKAGE (India)

Posted by Gilmour Poincaree on December 27, 2008

27 Dec 2008, 0055 hrs IST

ET Bureau

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIES, INTERNATIONAL, MACROECONOMY, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, STATE TARIFFS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

MUDANÇAS NA LEI DAS MICRO E PEQUENAS EMPRESAS JÁ ESTÃO NO DOU (Brazil)

Posted by Gilmour Poincaree on December 23, 2008


22/12/2008 – 18h14

Diário de Pernambuco

PUBLISHED BY ‘DIÁRIO DE PERNAMBUCO’ (Brasil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DIÁRIO DE PERNAMBUCO’ (Brasil)

Posted in A PRESIDÊNCIA, BRASIL, CIDADANIA, CIDADES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, LUIS INÁCIO LULA DA SILVA, O PODER EXECUTIVO FEDERAL, O SISTEMA BANCÁRIO - BRASIL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, STATE TARIFFS | Leave a Comment »

CAFÉ:RESOLUÇÕES PUBLICADAS NO DIÁRIO OFICIAL BENEFICIAM PRODUTORES RURAIS (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

19/12/2008 – 18:11

C. B. L.

PUBLISHED BY ‘SAFRAS & MERCADO’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘SAFRAS & MERCADO’ (Brazil)

Posted in A PRESIDÊNCIA, AGRICULTURA, AGRICULTURE, AGRONEGÓCIOS, BRASIL, COFFEE, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO AGRÍCOLA, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, INDUSTRIAL PRODUCTION, INTERNATIONAL, MACROECONOMY, O PODER EXECUTIVO FEDERAL, POLÍTICA REGIONAL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SC, SETOR EXPORTADOR, STATE TARIFFS | Leave a Comment »

MEIRELLES DIZ QUE JUROS E AÇÕES SÃO MEDIDAS DISTINTAS (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

21/12/2008

Tribuna do Norte

PUBLISHED BY ‘TRIBUNA DO NORTE’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘TRIBUNA DO NORTE’ (Brazil)

Posted in A BOLSA DE VALORES, BANCO CENTRAL - BRASIL, BRASIL, CENTRAL BANKS, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, MACROECONOMY, O PODER EXECUTIVO FEDERAL, RECESSION, STATE TARIFFS, STOCK MARKETS, TAXA DOS JUROS COMERCIAIS, TAXA SELIC | Leave a Comment »

WORLD MARKETS EYE RECOVERY

Posted by Gilmour Poincaree on December 15, 2008

Dec 14 2008 17:07

Agence France Presse

PUBLISHED BY ‘NEWS24.COM’ (South Africa)

New York – After a catastrophic year in which Wall Street lost five years of gains, investors worldwide are looking for a possible market bottom but remain cautious in the face of a deep economic crisis.

Global markets are assessing the damage of a calamitous year that has sapped 40 percent or more from many stock market indexes.

As of December 12, the broad-market Standard & Poor’s 500 index was down a stunning 40%, but has been as much as 52% below its all-time peak in October 2007, marking the worst bear market since 1931, according to S&P.

The Dow Jones Industrial Average of 30 blue chips has lost 34.9% and the Nasdaq composite has fallen 41.9%.

Other markets around the world have fared worse including the Paris CAC 40 (down 42.7%) and Japan’s Nikkei (46.2%), while London’s FTSE has tumbled 33.7%).

Art Hogan, analyst at Jefferies, said the year saw devastation on a historic scale.

“It’s literally as bad as the market can get, in every shape or form: losses of jobs, economy, devastation in equities and residential real estate,” he said.

The market also witnessed “devastation in brand-name firms being thrown out of the way like Bear Stearns and Merrill Lynch and AIG and Freddie Mac and Fannie Mae.”

Because of the unprecedented losses, Hogan said the feeling is that “next year has got to be better.”

Investors bruised by the worst losses in decades are trying to determine whether the worst is over or if what seems like a rebound will end up being a “sucker rally.”

Large margin for error

Sam Stovall, an equity strategist at S&P, said he sees a likely recovery from oversold conditions in 2009.

“There is a good chance that we could be seeing a bit of recovery next year but I still think what I would call a range-bound recovery,” he said.

Lewis Alexander, chief economist at Citigroup, pointed out that “given the forces at work in the global economy, however, any forecast must entail an unusually large margin for error.”

Alexander said the problems are compounded by the so-called “negative feedback loop” – falling share prices mean falling wealth, dampening consumer spending and investment, leading to job cuts and lower output that reinforce the cycle.

“Since their peak over the summer, global equity markets have lost about $25 trillion in value. This represents about 40% of global GDP,” or gross domestic product.

Wall Street and many other markets have slid to their lowest levels since the bear market of 2002-2003. The Dow index has essentially pulled back to its levels of a decade ago.

Things could still get worse. But many analysts are banking on a “bottom” that will allow markets to recover even if the economy is still sputtering.

“It might be that the 40% decline over the past year has already factored in much of the bad news already,” said Paul Nolte, analyst at Hinsdale Investments.

“Unfortunately stocks won’t be waiting for the economy and will rise anticipating the end of the worst,” he said in a note to clients.

Fred Dickson, equity strategist at DA Davidson, said market sentiment may be recovering from its depths, helped by the vast array of actions by the Federal Reserve and US government and its counterparts around the world seeking to jolt life back into the moribund economy.

Meltdown not over

Dickson said the market “may have seen its psychological low point back on October 15″ before the bulk of rescue efforts were announced, but that investors may not yet be out of the woods.

“We believe an optimistic estimate would be that the economy bottoms out next summer,” Dickson said.

“We don’t see the market as being ready to lift off into the next big bull market. Stock prices continue to be very attractively priced, but could become more even attractively priced if the economy suddenly takes another big dip.”

Yet there is no shortage of doomsayers arguing that the meltdown is not over.

Bennet Sedacca of Atlantic Advisors said he believes things will get much worse due to a dysfunctional financial system.

“The problem as I see it is that unless the (US) Treasury wants to back the entire credit market, we are simply delaying the inevitable failures that are to come,” he said.

Sedacca said he sees “investable levels” coming with the S&P 500 “yet another 40% to 50% lower.”

Bill Gross, a respected bond fund manager, also argues for caution.

“Stocks are cheap when valued within the context of a financed-based economy once dominated by leverage, cheap financing, and even lower corporate tax rates,” he said.

“That world, however, is in our past, not our future. More regulation, lower leverage, higher taxes, and a lack of entrepreneurial testosterone are what we must get used to.”

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Posted in ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

IRISH READY TO HOLD NEW EU VOTE

Posted by Gilmour Poincaree on December 12, 2008

Thursday, 11 December 2008

PUBLISHED BY ‘BBC NEWS'(UK)

The Irish Republic is willing to hold a second referendum on the EU’s reform treaty if given certain guarantees by the EU, a spokesman has told the BBC.

Those legally binding guarantees are to be discussed by EU leaders at a summit in Brussels.

The Lisbon Treaty has been on ice since being rejected by Irish voters in June.

The summit is also due to take crucial decisions on EU measures to tackle climate change, and to consider an EU-wide economic stimulus plan.

Opening the meeting on Thursday French President Nicolas Sarkozy, chairing the summit, said he hoped his fellow leaders would be able to unite on a climate package.

“Europe must not provide the spectacle of its own division,” he said.

‘Anti-democratic’

The mechanism for a second referendum is included in draft conclusions which are being presented by the current holders of the EU presidency, France, and which have been seen by the BBC.

According to the draft, the Irish government says “it is committed to seeking ratification” of the Lisbon Treaty by the end of October 2009.

Ireland was “seeking legally binding instruments to address the concerns of the Irish people”, a government spokesman told the BBC.

Once it got those assurances, it would present “a roadmap for ratification”, that would include another referendum, the spokesman added.

Hans-Gert Poettering, president of the European Parliament, said a wide-ranging consultation with the Irish people was needed. He said dialogue with Irish citizens before the first vote in June “was not serious enough”.

“We hope for a solution by the end of next year,” he said. “Realistically it won’t be the case before the European elections in June.”

The EU is set to offer guarantees that the treaty will not affect three main areas of concern to Irish “No” voters – abortion, Irish neutrality and taxation, says the BBC’s Europe editor Mark Mardell.

Ireland is also likely to be able to keep its EU commissioner.

But Declan Ganley, the chairman of the Libertas group that led the No campaign in the first Irish referendum, said this was an example of the Irish being dictated to.

“Do we think that democracy is important in Europe or do we want to exist in some post-democratic environment where European affairs are concerned?” he said.

He also announced that his Libertas group would be standing on an anti-treaty platform across the EU during next year’s parliamentary elections.

Credibility at stake

EU leaders will pore over and work on the summit conclusions before they are published on Friday.

They also face a major test of their willingness to tackle climate change, with a key agreement on cutting the EU’s carbon pollution at stake.

Mr Poettering said the parliament needed to find a compromise.

“It wouldn’t help anyone if industry simply relocates to China or somewhere,” he said. “The important thing is that Europe remains in front on this.”

Amid the economic downturn, Germany, Italy and Poland, among others, are fighting any deal that could cost jobs.

Poland’s Europe Minister Mikolaj Dowgielewicz said there would be long negotiations over the package, including Poland’s proposal for a central “solidarity” fund to help poorer nations cope with CO2 measures.

“It’s going to be a three or four-shirt summit. We’ve booked tickets for Sunday morning…” he told the BBC.

“There’s a number of issues which are still open, everything from the financing of CCS [carbon storage] to the solidarity fund – this is still on the table… we don’t really know what the compromise will be.”

The “20-20-20” package, which also requires approval by the European Parliament to become law, commits the EU to cutting carbon dioxide (CO2) emissions by 20% by 2020, compared to 1990 levels, and to raising renewable sources to 20% of total energy use.

President Sarkozy is pushing hard to clinch a deal before he hands over the rotating presidency of the EU to the Czech Republic at the end of the year.

European Commission President Jose Manuel Barroso said: “It would be a real mistake for Europe to give the signal that we are watering down our position, after all these years leading the efforts for a global solution.”

Also up for discussion is the EU’s 200bn-euro (£175bn) economic stimulus plan.

With recession looming, there will be broad agreement on the EU-wide package to boost the economy, although Germany opposes calls from Britain and France to cut taxes, says the BBC’s Oana Lungescu in Brussels.

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PUBLISHED BY ‘BBC NEWS'(UK)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EUROPEAN CENTRAL BANK, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRELAND, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, THE EUROPEAN UNION | Leave a Comment »

ICELAND INCREASES TARIFFS ON WINE, TOBACCO AND OIL

Posted by Gilmour Poincaree on December 12, 2008

12/12/2008 – 11:59

PUBLISHED BY ‘ICELAND REVIEW’

Iceland’s Althingi parliament accepted new laws yesterday on increasing the tariffs on alcohol, tobacco, oil and automobiles by 12.5 percent as well as introducing a tax on driven kilometers and an excise tax on vehicles and fuel.

According to the budget bill, the aforementioned tariffs were going to increase by 11.5 percent next year, but now the increase is 12.5 percent and takes effect already today. The state treasury will as a consequence have an additional income of more than ISK 3.5 billion (USD 30 million, EUR 23 million) in 2009, Morgunbladid reports.

The State Alcohol and Tobacco Company of Iceland (ÁTVR) said the price of tobacco will increase immediately, but it will take some time before the price of alcoholic beverages increases.

Minister of Finance Árni M. Mathiesen said at Althingi yesterday that the state tariffs on these products had depreciated with the development of the consumer price index and that the current increase is meant to counter that development.

Minister for Foreign Affairs Ingibjörg Sólrún Gísladóttir explained that the purpose with the new laws is to protect those who have the lowest wages. Child benefits and interest relief will remain unchanged, she said, and personal exemption will increase by ISK 2,000 (USD 17.25, EUR 12.99) next year, Fréttabladid reports.

However, the tariffs will also influence indexation and increase loans. “It is obvious that this will go straight into our loans. It is a very controversial path to take because it will also have an impact on the highly indebted state treasury, no less than households. I doubt that the state treasury will benefit from this in the end,” President of the Confederation of Labor (ASÍ) Gylfi Arnbjörnsson told Morgunbladid.

Runólfur Ólafsson, managing director of the Icelandic Automobile Association (FÍB), is equally critical of the new laws; expenses for average-sized cars will increase by ISK 20,000 (USD 172, EUR 130) per year because of them.

The price of gasoline and diesel oil will also increase considerably, by ISK 7.70 and 6.40 (USD 0.07 and 0.06, EUR 0.05 and 0.04) per liter respectively, and Ólafsson said it is not good at all that the state is going to take advantage of the recent decrease in the price of fuel in such a way.

Arnbjörnsson told Fréttabladid that the government only plans to increase benefits to senior citizens and the disabled by 9.6 percent, but not in consistency with indexation. The benefits of these groups are indexed and should thus increase every month, he said.

“They are planning to take four billions [ISK 4 billion = USD 34 million, EUR 26 million] from the poorest people. It is so incredibly unjust that we cannot agree to it,” Arnbjörnsson said.

Minister for Social Affairs Jóhanna Sigurdardóttir said Arnbjörnsson is wrong in his assumptions.

“We added two billions to the social security system compared to what was estimated in the budget bill. Next year pension benefits will be higher than ever compared to the lowest salaries of ASÍ,” Sigurdardóttir explained.

Click here to read about other recent measures taken by the government.

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Posted in ALCOHOLIC BEVERAGES, AUTOMOTIVE INDUSTRY, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FUELS, GASOLINE, ICELAND, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, RECESSION, STATE TARIFFS, THE WORK MARKET, THE WORKERS, TOBACCO | Leave a Comment »