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China property slump threatens global economy
Published December 2, 2008, 1:20 pm, Business Standard India
House prices in Shanghai, Shenzhen and Guangzhou are plunging, and the global economy may grind almost to a halt next year because of it.
GDP for '07 revised up to real 1.9%
Published December 2, 2008, 1:17 pm, The Japan Times
The Cabinet Office on Tuesday revised upward the real gross domestic product growth rate for fiscal 2007 to 1.9 percent from a preliminary estimate of 1.7 percent, based on bigger than expected corporate capital investment and government spending. The result confirmed that Japan posted real GDP growth for the sixth year in a row since fiscal 2002. The Cabinet Office also upgraded the nominal GDP ...
Global Stimulus Vital To Counter Economic Meltdown
Published December 2, 2008, 1:08 pm, Scoop.co.nz
United Nations economists today called for massive coordinated global economic stimulus packages, linked with sustainable development measures, beyond liquidity and recapitalization steps already taken, to counter the worldwide economic meltdown.
Citi hikes Philippine growth forecast
Published December 2, 2008, 1:07 pm, Philippine Daily Inquirer
American banking giant Citigroup has raised its outlook on the Philippine economy for this year and 2009 as a more aggressive government pump-priming is expected to compensate for the slack in the export sector.
Interest rate cut expected today
Published December 2, 2008, 1:06 pm, Bangkok Post - Thailand's English news
The financial market expects the Bank of Thailand to reduce its benchmark one-day repurchase interest rate by between 25 and 50 basis points today, even though the economy has deteriorated quickly in the past few months.
Euro nations rule out sales tax cuts
Published December 2, 2008, 12:54 pm, Business Day
Euro zone nations have ruled out slashing sales tax to boost their economies but backed a $A395 billion economic stimulus package that aims to boost growth.
$A opens firmer on Wall St rallies
Published December 2, 2008, 12:54 pm, Business Day
The Australian dollar opened firmer as a mild recovery on Wall Street assisted the relatively high-yielding currency.
Euro nations rule out sales tax cuts
Published December 2, 2008, 12:53 pm, The West Australian
Euro zone nations have ruled out slashing sales tax to boost their economies but backed a wide 200 billion euro ($A394.91 billion) economic stimulus package that aims to boost growth.
Markets recovery falters
Published December 2, 2008, 12:48 pm, Sydney Morning Herald
Fears of a local recession have skittled a fledgling sharemarket recovery and unsettled investors, whipping up expectations of further interest rate cuts.
Higher Opens Expected For New Zealand, Australia Stocks
Published December 2, 2008, 12:39 pm, INO News
(RTTNews) - Bounce-backs are expected Wednesday for stocks in New Zealand and Australia, following a highly volatile trading session on Wall Street overnight. U.S. stocks appeared headed for a stronger close, a day after one of the market's steepest ever declines.
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