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ASIAN MARKETS GAIN AFTER US HOUSE PASSES STIMULUS BILL; EUROPE OPENS DOWN

Posted by Gilmour Poincaree on January 29, 2009

January 29, 2009 – 3:45 AM

by Stephen Wright – Associated Press

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

BANGKOK, Thailand – Asian markets advanced Thursday, with Hong Kong jumping 4.6 percent in a catch-up rally, as the U.S. House of Representatives approved a $819 billion stimulus bill that investors hope will help lift the American economy out of its worst crisis in decades. European markets opened lower.

Japan’s Nikkei 225 stock average rose 144.95 points, or 1.8 percent, to 8,251.24 even as new data showed that retail sales in the world’s second-largest economy sank the most in nearly four years in December.

Hong Kong’s Hang Seng leaped 575.83 points, or 4.6 percent, to 13,154.43 after being closed for three days for the Lunar New Year. Mainland China’s markets are closed all week. South Korea’s Kospi gained 0.7 percent and Australia’s main index rose 0.9 percent.

Sentiment in Asia got a boost as President Barack Obama’s massive stimulus package moved closer to becoming a reality.

The Democratic-controlled House of Representatives approved the bill Wednesday night, sending it to the Senate where debate could begin as early as Monday. Democratic leaders have pledged to have legislation ready for Obama’s signature by mid-February.

“The U.S. stimulus package has a positive psychological impact on markets globally,” said Castor Pang, an analyst at Sun Hung Kai Financial in Hong Kong.

“But there is still going to be bad news in the form of profit warnings and unemployment,” he said. “The unemployment rate is going to continue to climb, making U.S. consumers even more hesitant about spending.”

As trading got underway in Europe, major bourses fell with France’s CAC-40 off 1.1 percent, Germany’s DAX down 1 percent and Britain’s FTSE 100 slipping 1.1 percent.

U.S. stock index futures were down, suggesting Wall Street would open lower Thursday. Dow futures were down 87 points, or 1.1 percent, at 8,235 and S&P500 futures were off 8.6 points, or 1 perc(AP) — ent, at 862.90.

Financial stocks led Asia’s advance Thursday, buoyed in part by hopes of new U.S. efforts to trim bad debt and spur lending.

In Hong Kong, banking giant HSBC jumped 8.4 percent and China’s top lender, Industrial & Commercial Bank of China Ltd., or ICBC, added 5 percent.

In Tokyo, megabank Sumitomo Mitsui Financial Group soared 13 percent, Mitsubishi UFJ jumped 4.8 percent and Mizuho added 5.2 percent.

Japanese exporters such as Sony and Toshiba reported weak quarterly results after the market closed.

Sony Corp.’s net profit tumbled 95 percent in the October-December quarter, as the global slump hurt sales of its core electronics products, while Toshiba Corp. sank into the red in the third quarter and expects a loss for the full year.

Elsewhere, New Zealand’s benchmark index was up 0.8 percent after the central bank slashed its key interest rate by 1.5 percentage points to 3.5 percent to prevent the country’s recession from deepening.

Oil prices slipped below $42 a barrel as rising U.S. crude inventories offset expectations the U.S. stimulus package will revive growth and consumer demand. Light, sweet crude for March delivery was down 34 cents to $41.82 a barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange.

In currency trading, the dollar fell to 90.02 yen from 90.41 late Wednesday in New York, while the euro declined to $1.3044 from $1.3139.

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PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

Posted in AGRICULTURE, ASIA, BANKING SYSTEMS, BARACK HUSSEIN OBAMA -(DEC. 2008/JAN. 2009), CHINA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, HONG KONG, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, STOCK MARKETS, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, THE PRESIDENCY - USA, THE WORK MARKET, UNEMPLOYMENT, UNITED KINGDOM, USA | Leave a Comment »

JAPANESE AGRI FIRM TO INVEST IN RP (Philippines)

Posted by Gilmour Poincaree on January 26, 2009

21:05:00 01/25/2009

by Abigail L. Ho – Philippine Daily Inquirer

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

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PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

Posted in AGRICULTURE, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), INTERNATIONAL, JAPAN, PHILIPPINES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

MITSUBISHI MAKES GABON OIL FIND – WEST AFRICA OILFIELD COULD DELIVER 14M BARRELS – JAPANESE TRADING HOUSE MITSUBISHI HAS DISCOVERED AN OIL FIELD IN GABON, RAISING HOPE FOR MORE ENERGY PRODUCTION FROM WEST AFRICA

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

Agence France-Presse

PUBLISHED BY ‘THE AUSTRALIAN’

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PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AFRICA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, THE FLOW OF INVESTMENTS | Leave a Comment »

GOODWILL ‘DEFRAUDED OUT OF 38 BIL. YEN’ – FUND PARTNERS SAID LIED ABOUT SHARE PRICES (Japan)

Posted by Gilmour Poincaree on January 25, 2009

Jan. 26, 2009

The Yomiuri Shimbun

PUBLISHED BY ‘THE DAILY YOMIURI’ (Japan)

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PUBLISHED BY ‘THE DAILY YOMIURI’ (Japan)

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

GOVT TO MAKE GREATER USE OF REMOTE ISLES – POLICY AIMS AT BOOSTING EEZ CLAIM (Japan)

Posted by Gilmour Poincaree on January 25, 2009

Jan. 25, 2009

The Yomiuri Shimbun

PUBLISHED BY ‘THE DAILY YOMIURI’ (Japan)

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PUBLISHED BY ‘THE DAILY YOMIURI’ (Japan)

Posted in COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS | Leave a Comment »

MSDF DISPATCH WILL CAUSE WAVES – COULD ANTIPIRACY OPERATIONS BE COMPROMISED BY LEGAL DIFFICULTIES ?

Posted by Gilmour Poincaree on January 25, 2009

Jan. 26, 2009

The Yomiuri Shimbun

PUBLISHED BY ‘THE DAILY YOMIURI’ (Japan)

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PUBLISHED BY ‘THE DAILY YOMIURI’ (Japan)

Posted in BANKING SYSTEMS, CARGO PIRACY, COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, JUDICIARY SYSTEMS, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS | Leave a Comment »

JAPAN LAUNCHES ROCKET TO PROBE GREENHOUSE GAS

Posted by Gilmour Poincaree on January 25, 2009

January 23 2009 at 10:44AM

Sapa – Associated Press

PUBLISHED BY ‘THE INDEPENDENT ONLINE’ (South Africa)

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PUBLISHED BY ‘THE INDEPENDENT ONLINE’ (South Africa)

Posted in AGRICULTURE, AIR TRANSPORT INDUSTRY, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, GLOBAL WARMING, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

BRIDGESTONE TO CUT PRODUCTION, 800 JOBS AT US PLANT – JAPANESE TIREMAKER BRIDGESTONE SAID IT IS SHEDDING ABOUT 800 JOBS IN THE UNITED STATES TO COPE WITH WEAKER DEMAND

Posted by Gilmour Poincaree on January 23, 2009

Friday, January 23, 2009

Agence France-Presse

PUBLISHED BY ‘THE STANDARD’ (China – Hong Kong)

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PUBLISHED BY ‘THE STANDARD’ (China – Hong Kong)

Posted in AUTOMOTIVE INDUSTRY, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, JAPAN, NATIONAL WORK FORCES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, UNEMPLOYMENT, USA | Leave a Comment »

BANK OF JAPAN SET TO BUY CORPORATE BONDS

Posted by Gilmour Poincaree on January 23, 2009

Friday, January 23, 2009

AGENCIES

PUBLISHED BY ‘THE STANDARD’ (China – Hong Kong)

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PUBLISHED BY ‘THE STANDARD’ (China – Hong Kong)

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

ASIAN MARKETS BOUNCE HIGHER AS BANK OF JAPAN TO EASE LIQUIDITY

Posted by Gilmour Poincaree on January 23, 2009

22 Jan 2009 – 05:28 AM ET

CNBC.com

PUBLISHED BY ‘CNBC’

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PUBLISHED BY ‘CNBC’

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

JAPAN MOVES TO EASE CREDIT FREEZE AS DEFLATION LOOMS

Posted by Gilmour Poincaree on January 23, 2009

January 22, 2009

Reuters

PUBLISHED BY ‘INTERNATIONAL HERALD TRIBUNE’ (USA)

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PUBLISHED BY ‘INTERNATIONAL HERALD TRIBUNE’ (USA)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

DOLLAR NEAR 13-YEAR LOW AGAINST YEN (Japan)

Posted by Gilmour Poincaree on January 22, 2009

22 Jan 2009, 1325 hrs IST

AGENCIES

PUBLISHED BY ‘ECONOMIC TIMES’ (India)

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PUBLISHED BY ‘ECONOMIC TIMES’ (India)

Posted in DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, JAPAN, RECESSION, YEN (Japan) | Leave a Comment »

TOYOTA PASSES GM TO WIN NO. 1 GLOBAL SALES TOTAL

Posted by Gilmour Poincaree on January 21, 2009

Jan 21, 2009 9:17 AM

Associated Press

PUBLISHED BY ‘THE EXAMINER’ (USA)

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PUBLISHED BY ‘THE EXAMINER’ (USA)

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

GLOBAL BANKING CRISIS PUTS A DAMPER ON KLCI (Malaysia)

Posted by Gilmour Poincaree on January 21, 2009

Wednesday January 21, 2009

by Leong Huleong Yee

PUBLISHED BY ‘THE STAR’ (Malaysia)

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PUBLISHED BY ‘THE STAR’ (Malaysia)

Posted in BANKING SYSTEMS, CHINA, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FORMOSA - TAIWAN, HONG KONG, INTERNATIONAL, JAPAN, MALAYSIA, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, SCOTLAND, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

TOKYO LEADS REGIONAL STOCKS TO LOWER CLOSE

Posted by Gilmour Poincaree on January 20, 2009

01-20-2009 – 14:51

AGENCIES

PUBLISHED BY ‘THEC STANDARD’ (China – Hong Kong)

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PUBLISHED BY ‘THEC STANDARD’ (China – Hong Kong)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

FOUNDER’S GRANDSON PICKED TO LEAD TOYOTA

Posted by Gilmour Poincaree on January 20, 2009

January 20, 2009

by Bettina Wassener

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

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PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

WEATHERING GLOBAL UPHEAVAL – STIGLITZ: BASIC GLOBAL FINANCIAL REFORM NEEDED

Posted by Gilmour Poincaree on January 20, 2009

Jan. 18, 2009

The Yomiuri Shimbun

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES | 1 Comment »

TOSHIBA SET TO WIN TEXAS NUCLEAR DEAL

Posted by Gilmour Poincaree on January 20, 2009

Jan. 20, 2009

The Yomiuri Shimbun

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, JAPAN, NUCLEAR ENERGY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

MOMENTUM AND CONFIDENCE IS CRITICAL

Posted by Gilmour Poincaree on January 19, 2009

4:00AM Monday Jan 19, 2009

by Mike Moore

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in 'DOHA TALKS', AGRICULTURE, BANKING SYSTEMS, CHINA, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), FOREIGN POLICIES, G20, GERMANY, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, NEW ZEALAND, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, UNITED KINGDOM, USA, WORLD TRADE ORGANIZATION | Leave a Comment »

EU WARNING AS JAPAN CARMAKERS CUT OUTPUT

Posted by Gilmour Poincaree on January 18, 2009

Vol XXXI – N°303 – Saturday – 17th January 2009

Gulf Daily News

PUBLISHED BY ‘GULF DAILY NEWS’ (Bahrain)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘GULF DAILY NEWS’ (Bahrain)

Posted in AUTOMOTIVE INDUSTRY, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, NATIONAL WORK FORCES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, THE WORKERS, UNEMPLOYMENT | Leave a Comment »

JAPANESE EXPORTERS GAIN ON WEAKER YEN

Posted by Gilmour Poincaree on January 17, 2009

January 16, 2009, 1:45 P.M. ET

by V Phani Kumar and Rosalind Mathieson

PUBLISHED BY ‘THE WALL STREET JOURNAL’

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PUBLISHED BY ‘THE WALL STREET JOURNAL’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, YEN (Japan) | Leave a Comment »

AIR PRODUCTS, PARTNER BUILDING JAPANESE PLANT

Posted by Gilmour Poincaree on January 8, 2009

January 7, 2009

Associated Press

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

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PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CHEMICALS (processed components), COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

NIKKEI EDGES UP, EXPORTERS GAIN ON WEAKER YEN

Posted by Gilmour Poincaree on January 7, 2009

06 Jan 2009 – 07:24 PM ET

by AFX

PUBLISHED BY ‘CNBC.COM’ (USA)

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PUBLISHED BY ‘CNBC.COM’ (USA)

Posted in COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, YEN (Japan) | Leave a Comment »

JAPAN WANTS ANTI-WHALING SHIP BARRED FROM PORTS

Posted by Gilmour Poincaree on January 7, 2009

January 6, 2009

by Eric Talmadge – Associated Press Writer

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

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PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FISHERIES, FOOD PRODUCTION (human), FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, JUDICIARY SYSTEMS, MEAT, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

JAPANESE WHALERS AND THEIR FOES RESUME THEIR BATTLE

Posted by Gilmour Poincaree on January 7, 2009

January 6, 2009

by Meraiah Foley and Mark McDonald

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

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PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FISHERIES, FOOD PRODUCTION (human), FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, JUDICIARY SYSTEMS, MEAT, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

JAPAN STOCKS RISE ON WEAKER YEN, US STIMULUS PLAN

Posted by Gilmour Poincaree on January 6, 2009

Tue, Jan. 6, 2009

The Associated Press

PUBLISHED BY ‘PHILLY.COM’ (USA)

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PUBLISHED BY ‘PHILLY.COM’ (USA)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, YEN (Japan) | Leave a Comment »

AUSTRALIA ACCUSED OVER ANTI-WHALING SHIP ‘CRIMES’

Posted by Gilmour Poincaree on December 31, 2008

December 30, 2008

by Siobhain Ryan – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

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PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), FOREIGN POLICIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JAPAN, JUDICIARY SYSTEMS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | 1 Comment »

ASIAN MARKETS GAIN, LED BY HIGHER ENERGY STOCKS

Posted by Gilmour Poincaree on December 31, 2008

Tue, Dec. 30, 2008

by Stephen Wright – The Associated Press

PUBLISHED BY ‘PHILLY.COM’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘PHILLY.COM’ (USA)

Posted in ASIA, CHINA, COMMERCE, COMMODITIES MARKET, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, NATURAL GAS, PETROL, PHILIPPINES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

GOLDEN FDI FLOWS AMID THE GLOOM – VIETNAM’S AUTHORITIES ARE UPBEAT ABOUT THE NATION’S GROWING FOREIGN DIRECT INVESTMENT CAPITAL ATTRACTIVENESS IN A TOUGH 2009 DESPITE THE GLOBAL TURMOIL

Posted by Gilmour Poincaree on December 30, 2008

29-12-2008

by Hoang Mai – Vietnam Investment Review

PUBLISHED BY ‘THE VIETNAM INVESTMENT REVIEW’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE VIETNAM INVESTMENT REVIEW’

Posted in BANKING SYSTEMS, CEMENT, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, METALS INDUSTRY, MINING INDUSTRIES, NATIONAL WORK FORCES, PETROL, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, STEEL, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, VIETNAM, WORLD TRADE ORGANIZATION | Leave a Comment »

TOKYO STOCKS CLOSE HIGHER IN FINAL TRADING SESSION

Posted by Gilmour Poincaree on December 30, 2008

30 Dec 2008 – 09:25 hrs IST

AGENCIES

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

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PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

SHARP TO BOOK 50 BILLION YEN EXTRAORDINARY LOSS

Posted by Gilmour Poincaree on December 30, 2008

29 Dec 2008 – 07:43 PM ET

Reuters

PUBLISHED BY ‘CNBC’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CNBC’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, UNEMPLOYMENT | Leave a Comment »

JAPAN STOCKS RISE AS NIKKEI ENDS WORST YEAR EVER

Posted by Gilmour Poincaree on December 30, 2008

Dec 30, 12:51 AM

EST

by Tomoko A. Hosaka –

Associated Press Writer

PUBLISHED BY ‘THE

PITTSBURGH TRIBUNE-REVIEW’ (USA)

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PUBLISHED BY ‘THE PITTSBURGH TRIBUNE-REVIEW’ (USA)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, YEN (Japan) | Leave a Comment »

JAPANESE INSURERS IN TALKS TO MERGE

Posted by Gilmour Poincaree on December 29, 2008

December 29, 2008

by Reiji Murai – Reuters

PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

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PUBLISHED BY ‘THE INTERNATIONAL HERALD TRIBUNE’ (USA)

Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIES, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

JAPAN, GERMANY PUSH SPENDING PLANS

Posted by Gilmour Poincaree on December 27, 2008

26 Dec 2008, 01:01 hrs IST

Reuters

PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

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PUBLISHED BY ‘THE ECONOMIC TIMES’ (India)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, CURRENCIES, DEUTSCHMARK (Germany), ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GERMANY, INTERNATIONAL, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, YEN (Japan) | Leave a Comment »

POSCO EMITE BÔNUS PARA ASSEGURAR OPERAÇÃO EM MINA BRASILEIRA (Brazil)

Posted by Gilmour Poincaree on December 26, 2008

Quinta-feira 25 de dezembro de 2008 10:38

Agence France-Presse

PUBLISHED BY ‘PORTAL UAI – O ESTADO DE MINAS’ (Brazil)

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PUBLISHED BY ‘PORTAL UAI – O ESTADO DE MINAS’ (Brazil)

Posted in AS INDÚSTRIAS DE MINERAÇÃO, BRASIL, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FLUXO DE CAPITAIS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, METALS, METALS INDUSTRY, MINING INDUSTRIES, MINISTÉRIO DAS MINAS E ENERGIA, O PODER EXECUTIVO FEDERAL, RECESSION, RELAÇÕES COMERCIAIS INTERNACIONAIS - BRASIL, SOUTH KOREA, THE FLOW OF INVESTMENTS | Leave a Comment »

JAPAN STOCKS POST MODEST CHRISTMAS GAINS

Posted by Gilmour Poincaree on December 25, 2008

December 25, 2008

Associated Press

PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

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PUBLISHED BY ‘THE BOSTON GLOBE’ (USA)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

NIKKEI UP 0.4 PCT IN THIN TRADE, TOYOTA REBOUNDS

Posted by Gilmour Poincaree on December 25, 2008

Thursday, December 25, 2008

Reuters

PUBLISHED BY ‘THE GUARDIAN’ (UK)

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PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

‘WORSENING’ ECONOMY ALREADY BAD ENOUGH (Japan)

Posted by Gilmour Poincaree on December 24, 2008

Dec. 23, 2008

The Yomiuri Shimbun

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CURRENCIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

ISUZU DROPS PLAN TO SHED 550 WORKERS (Japan)

Posted by Gilmour Poincaree on December 24, 2008

Dec. 25, 2008

The Yomiuri Shimbun

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in AUTOMOTIVE INDUSTRY, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, NATIONAL WORK FORCES, RECESSION, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »

FAMILY STAR MAY HEAD TOYOTA IN CRISIS

Posted by Gilmour Poincaree on December 24, 2008

Dec 24, 7:50 AM EST

by Yuri Kageyama – Associated Press Business Writer

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in AUTOMOTIVE INDUSTRY, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

RECORD DRAFT BUDGET OK’D / 89 TRILLION YEN PACKAGE INCLUDES 26 TRILLION YEN IN DEFICIT BONDS

Posted by Gilmour Poincaree on December 24, 2008

Dec. 25, 2008

The Yomiuri Shimbun

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, CURRENCIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, JAPAN, RECESSION, YEN (Japan) | Leave a Comment »

MARX ‘DAS KAPITAL’ COMIC FINDS NEW FANS IN JAPAN

Posted by Gilmour Poincaree on December 24, 2008

Dec 22, 5:10 AM EST

by Mari Yamaguchi – Associated Press Writer

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, HISTORY, INTERNATIONAL, JAPAN, RECESSION, THE WORKERS | Leave a Comment »

2008 – A YEAR OF INSTABILITY

Posted by Gilmour Poincaree on December 24, 2008

Dec. 24, 2008

The Yomiuri Shimbun

PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’ (Japan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET | Leave a Comment »

2009 NORTH AMERICAN AUTO SHOW – TOYOTA TO DEBUT SMALL, BATTERY-POWERED ‘CITY CAR’ CONCEPT (USA)

Posted by Gilmour Poincaree on December 24, 2008

Tuesday, December 23, 2008

by David Phillips – Special to The Detroit News

PUBLISHED BY ‘THE DETROIT NEWS’ (USA)

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PUBLISHED BY ‘THE DETROIT NEWS’ (USA)

Posted in AUTOMOTIVE INDUSTRY, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | 1 Comment »

THE GREAT DEPRESSION OF 2009

Posted by Gilmour Poincaree on December 23, 2008

Monday, December 16, 2008 – 7:40 AM

by David Bradley

PUBLISHED BY ‘SAMURAI TRADER’

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Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, CHINA, DEPRESSION, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, JAPAN, MACROECONOMY, NATIONAL WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

JAPAN REPORTS TRADE DEFICIT

Posted by Gilmour Poincaree on December 22, 2008

Dec 22, 2008

The Strait Times

PUBLISHED BY ‘THE STRAIT TIMES’ (Singapore)

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PUBLISHED BY ‘THE STRAIT TIMES’ (Singapore)

Posted in COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

JAPANESE CONSUMERS ENJOY BENEFITS OF STRONG YEN, EVEN AS ECONOMY SUFFERS

Posted by Gilmour Poincaree on December 20, 2008

December 19, 2008 – 6:02 AM

by Jay Alabaster – Associated Press

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

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PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INTERNATIONAL, JAPAN, RECESSION | Leave a Comment »

COMPANIES HIT BY HIGH YEN, TIGHTENED LENDING (Japan)

Posted by Gilmour Poincaree on December 17, 2008

Dec. 17, 2008

Tetsushi Onoda and Kunihiko Yasue – Yomiuri Shimbun Staff Writers

PUBLISHED BY ‘THE YOMIURI SHIMBUN’

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PUBLISHED BY ‘THE YOMIURI SHIMBUN’

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, JAPAN, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

TOYOTA PUTS OFF STARTING ITS US PLANT

Posted by Gilmour Poincaree on December 17, 2008

4:00AM Wednesday Dec 17, 2008

SUN-TIMES STAFF AND WIRES

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AUTOMOTIVE INDUSTRY, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

SKOREA, CHINA, JAPAN SHOW UNITY AT FIRST SUMMIT

Posted by Gilmour Poincaree on December 14, 2008

Published: Dec 13, 2008 06:00 AM – Modified: Dec 13, 2008 07:06 AM

by Eric Talmadge – Associated Press Writer

PUBLISHED BY ‘THE NEWS&OBSERVER’ (USA)

FUKUOKA, Japan – The leaders of Japan, China and South Korea said Saturday that Asia must be the engine of growth to counter Japan's Prime Minister Taro Aso, center, delivers a speech as Lee Myung-bak, South Korea's president, sitting right, Wen Jiabao, China's premier, sitting left, isten at the start of dinner after their meeting at the Kyushu National Museum in Dazaifu, southern Japan, on Saturday, December 13, 2008. (AP Photo/Tomohiro Ohsumi, POOL)global financial turmoil and vowed to rev up their economies with infrastructure projects and bolster domestic demand.

Tokyo and Seoul also criticized North Korea for stalling denuclearization talks.

The Asian nations – which together make up 75 percent of the east Asian economy – were holding their first-ever three-way summit, with Japanese Prime Minister Taro Aso, South Korean President Lee Myung-bak and Chinese Premier Wen Jiabao attending.

The global financial slowdown was atop their agenda.

“The current financial crisis continues to spread,” Wen said at a joint news conference. “We are important economic players in Asia and the world, and we must strive to respond to this once-in-a-century crisis.”

In a joint statement, the leaders said they believed Asia must be a center of growth to counter the sliding world economy. They said they would push domestic demand and infrastructure projects while refraining from raising new barriers to investment or trade over the next 12 months.

“The three leaders shared the view that efforts need to be strengthened to minimize the negative impacts that the current financial turmoil could have on the world economy,” the statement said. “Asian countries are expected to play a role as the center of world economic growth.”

Meeting ahead of the summit, Aso and Lee welcomed a deal reached the night before to increase a bilateral currency swap arrangement to the equivalent of $20 billion. The Bank of Korea also announced a deal with the People’s Bank of China worth about $26 billion.

“This is very meaningful,” Lee said of the currency swap arrangement. “We translated cooperation into action.”

Swaps generally entail one central bank borrowing a currency from another and offering an equivalent amount of its own as collateral.

Seoul has seen its own currency reserves dwindle and feared that without the swap arrangements it could suffer a foreign exchange crisis because of the global financial turmoil. The South Korean won has declined 32 percent this year amid record selling of South Korean stocks by foreign investors.

Aso and Lee also criticized North Korea for its lack of cooperation at nuclear disarmament talks and stressed the importance of continuing to push together for progress.

Four days of negotiations in Beijing ended in stalemate Thursday with North Korea refusing to put into writing any commitments on inspection, making it impossible to move forward on a disarmament-for-aid agreement reached last year.

“We have made progress but it has been slow,” Lee said. “We must have patience and hope.”

The three leaders said they planned to make the trilateral summit an annual event and strengthen ties through increased political and cultural exchanges.

“Politically and economically, we have a very significant presence in the region,” Aso said. “We should have had this kind of a summit sooner.”

Though their countries are often at odds over the legacy of Japan’s militarist past, solidarity was the word of the day.

Officials said the summit was intended to be a show of unity in the face of the global economic downturn and was an important step toward better relations overall between the three neighbors.

Left off the table was lingering animosity over Japan’s pre-1945 colonization of Korea and its often brutal aggression on the Asian mainland in the first half of the last century. Such issues have frequently flared up in the past and continue to be a thorn in relations.

Japanese officials said it was “significant” that the three countries were putting such issues behind them and trying to approach the summit with a more forward-looking stance.

Other sensitive issues remain, however.

In a meeting with Wen, Aso expressed concern over the entry of Chinese vessels earlier this week into waters Tokyo claims near disputed southern islands known as the Senkaku in Japanese and the Diaoyu in Chinese.

Japan lodged a protest with Beijing on Monday after the ships spent nine hours near the islands, which are claimed by Japan, China and Taiwan.

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Posted in ASIA, BANKING SYSTEMS, CENTRAL BANKS, CHINA, COMMERCE, CURRENCIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INTERNATIONAL RELATIONS, JAPAN, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH KOREA, THE FLOW OF INVESTMENTS | Leave a Comment »

WEATHERING THE STORM – Syrians are quickly realising that the impact of the global financial crisis will be larger than first thought. In an age of globalisation, no country is an island

Posted by Gilmour Poincaree on December 13, 2008

Issue: December 2008

by Brooke Anderson

PUBLISHED BY ‘SYRIA TODAY’

Despite government assurances that their country will weather the storm engulfing markets around the world, Syrians are quickly realising that in the 21st century, no country is immune from a global economic meltdown.

“No country can say it’s unaffected,” Samira al-Masalmeh, managing editor of local affairs at the independent Syrian daily newspaper Al-Watan and the economic weekly Al-Iqtissadiya, said. “It’s true, we don’t have direct economic relations with the United States, but the crisis is affecting Europe. We work with Europe and Asia, so there is an indirect effect on Syria.”

Syria will, however, weather the storm better than most countries, Masalmeh said. “For the most part, 70 percent of investment in Syria is from inside the country,” she said. “Syria has a strong and diversified internal economy that doesn’t depend on oil. We don’t have a stock market.”

The global financial crisis, which originated in the US banking system, hits Syria at a time when the country is opening up its economy after more than 40 years of socialist rule. Many in Syria now believe the country needs to quickly learn the lessons emerging from more developed economies now battling recession. “I hope Syria will learn a lesson from America and it will put into place better laws protecting investment,” Masalmeh said.

Far from the epicentre

To date, the Syrian government has taken a cautious view of the crisis. “The Syrian economy is stable and solid and the Syrian pound is strong and protected,” Deputy Prime Minister for Economic Affairs Abdullah al-Dardari said in October. “Syria has an independent banking system. In addition, the Syrian pound has a higher interest rate than other currencies.”

Dardari also said deposits in Syrian banks have increased since the beginning of the crisis because of the stability of the local banking sector. “The government is working day and night for the stability of the economy and to serve the nation and the citizen,” he said, adding there is “no reason at all to be scared or worried”.

Likewise, Syrian Minister of Finance Muhammad al-Hussein has emphasised the limited impact the global financial crisis will have on Syria. “The worldwide financial crisis could have an effect on Syria, but the government- is working with President Bashar al-Assad to make sure the effect is limited,” Hussein told the state daily newspaper Al-Thawra. He said Syria was “far away from the epicentre of the earthquake”.

Indirect impact

One government official striking a different note is Duraid Dargham, head of the government-run Commercial Bank of Syria, the country’s largest bank. In a full-page article published in the Tishreen newspaper in early October, Dargham said the danger posed to Syria by the global financial crisis was real and significant. “The economic crisis will have a big effect on Syria,” he wrote.

Dargham said Syria’s economy would take two main hits. The first will come in a decline in both the price and global demand for oil. Since the crisis erupted, the price of oil has fallen from a record SYP 6,510 (USD 140) per barrel to around SYP 2,557 (USD 55) a barrel and the slide is expected to continue. It’s a drop which could now make growth estimates for 2009 optimistic and will further widen the country’s budget deficit, a fact Hussein pointed out at a recent banking conference.

The second blow will come from remittances from Syrians living abroad who now number a massive 18m; Syria’s internal population is little more than 19m. On average, Syrian expatriates, many of whom earn high wages in the Gulf, inject SYP 37.2bn (USD 800m) annually in remittances into the Syrian economy. With many parts of the world entering recession and unemployment rising, this stream of foreign funds is expected to slow.

Jihad Yazigi, editor of the English-language economic newsletter The Syria Report, said Syria’s links to the Gulf markets make it vulnerable to the ongoing global economic turmoil. “A lot of money comes [to Syria] from the Gulf,” he said. “Some Syrians could be made redundant in the Gulf so we could see a slower pace of remittances and that could lead to more unemployment here.”

Yazigi also points to the possibility of foreign direct investment flows slowing over the next year. Rather than the dramatic blows being landed on the world’s leading economies like the US and Japan, Yazigi said the impact on Syria would come incrementally. “We haven’t seen anything yet, because the impact is indirect,” he said. “It won’t be as dramatic as the price of stocks. It will be an interesting sign if we see the delay of one to two big Gulf investments in Syria. Investors have to prioritise when they want to invest and Syria is not a priority for them. We haven’t felt it yet, but we will. It won’t be a big impact, but there will be an impact.”

Masalmeh points to tourism, an increasingly important money spinner in Syria, as another area likely to be negatively impacted as people around the world tighten their spending habits and cancel overseas holiday plans. “The crisis will affect tourism because there’ll be less money to spend,” she said. “If there’s no money, there’s no tourism.”

Feeling the squeeze

One Syrian company is already seeing the impact of the global financial crisis firsthand. At Muhanna for Sweets, a Damascus-based family sweets business founded in 1935, chief executive officer Mahmoud Muhanna said the global financial crisis could not come at a worse time. The company is already battling the impact of a cut in fuel subsidies which has seen the price of raw materials rise. As a result, the company has had to increase the prices of its goods – 30 to 40 percent for some sweets and 100 percent for others – at a time when foreign buyers in America and Europe are looking to save money. “All of the prices of raw materials – sugar, fat, and pistachios – have increased,” Muhanna said.

Three years ago, exports made up 40 percent of all sales at Muhanna for Sweets. Now they account for just 25 percent of business. Twenty-five percent of total exports go to the US, 5 to 10 percent go to the Gulf, while the rest go to Europe.

Muhanna does not expect any growth in his exports to US and European markets in the short term. As such the Gulf and local market will become all the more important. He said his company has been helped by the steady flow of tourists in the past several years, business travellers from the Gulf and the opening of new hotels such as the Four Seasons. But it’s a customer base that might not be so reliable in the coming months, he admits.

To counter a decline in exports, Muhanna is already thinking of a plan B: creating a line of less expensive sweets. Still, he doesn’t appear to be too worried about the financial turmoil creating a crisis in sweets consumption. “No matter what happens, people always buy Arab sweets,” he said.

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Posted in ASIA, BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, EUROPE, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FOREIGN POLICIES - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, INTERNATIONAL RELATIONS, ISLAMIC BANKS, JAPAN, PETROL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE ARABIAN PENINSULA, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TOURISM INDUSTRIES, USA | Leave a Comment »

DOLLAR HITS 13-YR LOW VS YEN AS AUTOS BAILOUT FAILS – Dollar dives below 89 yen, hits 13-year low

Posted by Gilmour Poincaree on December 12, 2008

December 12, 2008

by Kaori Kaneko – Reuters

PUBLISHED BY ‘THE FINANCIAL MIRROR’

The dollar hit a 13-year low against the yen on Friday after the U.S. Senate failed to agree on a bailout for U.S. automakers.

The U.S. Senate failed on Thursday night to reach a last-ditch compromise to bail out U.S. automakers, effectively killing any chance of congressional action this year.

The $14 billion legislation officially died in the Senate late on Thursday after supporters failed to get enough support in a procedural vote.

“It has become really severe for the prospect of the bailout plan,” said Mitsuru Sahara, senior manager at Bank of Tokyo-Mitsuibishi UFJ.

Traders said there were fewer market participants, making market swings larger, pushing the dollar below 89.00 yen for the first time in 13 years.

The dollar fell as low as 88.40 yen, the lowest since 1995.

The euro declined 0.4 percent to $1.3313.

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Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, COMMERCE, COMMODITIES MARKET, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, JAPAN, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA, YEN (Japan) | Leave a Comment »

$650.5B ECON STIMULUS PLAN (Japan)

Posted by Gilmour Poincaree on December 12, 2008

Dec 12, 2008

AGENCE FRANCE PRESSE

PUBLISHED BY ‘THE STRAITS TIMES’ (Singapore)

TOKYO – JAPAN’S government plans to increase a stimulus package to 40 trillion yen (S$650.5 billion) as Asia’s largest economy rapidly worsens, a newspaper said on Friday.

Prime Minister Taro Aso, who unveiled a 26.9-trillion-yen boost in late October, will hold a news conference on Friday to announce the rise, the top-selling Yomiuri Shimbun said.

The package announced earlier includes tax cuts, benefits sent directly to households and loans for small businesses.

Additional programmes would include measures to help people who lose their jobs, the Yomiuri said.

Japanese companies had long championed employment security but news on steep job cuts are making headlines every day amid a rapidly shrinking economy.

The government also aims to facilitate bank loans to smaller companies by enhancing a bill to inject capital into ailing banks, the daily said.

Under an earlier plan, banks would be able to receive public funds of up to two trillion yen pre-emptively to shore up their capital bases, which are being hurt by a credit crunch and a slump in the value of their shareholdings.

But the government aims to hike the amount six-fold to 12 trillion yen, it said.

No confirmation of the report was immediately available from the government.

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Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, JAPAN, NATIONAL WORK FORCES, RECESSION, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS | Leave a Comment »