Archive for the ‘World Economy’ category
Chinese, Russian PMs vow to strengthen ties
A view of the Hewlett Packard headquarters in Palo Alto, California November 23, 2009. (Xinhua/Reuters File Photo) Chinese Premier Wen Jiabao (L) shakes hands with Russian Prime Minister Vladimir Putin before a banquet in St. Petersburg, Russia, Nov. 22, 2010. (Xinhua/Ju Peng) ST. PETERSBURG, Russia, Nov. 22 (Xinhua) — Chinese Premier Wen Jiabao and [...]
S Korea’s economy to grow 4.2% in 2011: KDI
SEOUL, Nov. 22 (Xinhua) — The Korea Development Institute, a state-run think tank, lowered its forecast for the country’s economic growth next year from 4.4 percent to 4.2 percent in light of the global economic slowdown. The institute also said that this year’s growth will be 6.2 percent, up 0.3 percentage point from the prior [...]
Ireland’s bailout to have limited impact on S. Korean financial market
SEOUL, Nov. 22 (Xinhua) — Ireland’s bailout will not likely affect the South Korean financial market, considering the amount of exposure to the European country, South Korea’s financial watchdog said Monday. According to the Financial Supervisory Service (FSS), South Korean financial firms’ exposure to Ireland stood at 1.81 billion U.S. dollars as of September 2010. [...]
Experts say Ireland may not be second Greece
BEIJING, Nov. 22 (Xinhua) — Irish Prime Minister Brian Cowen confirmed on Sunday that the European Union (EU) has approved the Irish application for an international financial bailout. It was immediately well received by major financial markets in the world with the euro soaring and stock markets moving higher. On Monday noon, the euro changed [...]
EU official says talks on aid to Ireland to complete by end of November
BRUSSELS, Nov. 22 (Xinhua) — The current talks between the European Union (EU) and the Irish government are expected to complete by the end of November, a top EU official said on Monday. European Commissioner for Economic and Monetary Affairs Olli Rehn told a conference in Brussels that the technical talks of the joint mission [...]
WB official charts challenges for world economy, calls for more coordination
BEIJING, Nov. 19 (Xinhua) — World Band senior vice president Vinod Thomas Friday called for more coordination between governments to ensure global economic recovery, and warned against quantitative easing (QE), currency wars and fiscal deficit expansion. In an interview with Xinhua, Thomas said deficit and debt-laden countries, especially OECD industrial sates, had little room to [...]
Swiss household wealth grows 6.5%
GENEVA, Nov. 19 (Xinhua) — The Swiss National Bank (SNB) said in a report Friday that the overall net household wealth in Switzerland grew 6.5 percent to 2,595 billion Swiss francs (2,623 billion U.S. dollars) in 2009. The report attributed the growth mainly to an increase in household savings, a recovery in stock prices and [...]
China’s economic growth to slow in fourth quarter: gov’t think tank
BEIJING, Nov. 19 (Xinhua) — China’s economic growth rate was likely to slow in the fourth quarter to 8.7 percent, mainly as a result of economic restructuring, the State Information Center (SIC) said Friday. The forecast was almost 1 percentage point lower than the third quarter’s 9.6-percent growth rate, but the SIC expected the economy [...]
Chinese president leaves Japan for home after APEC meeting
YOKOHAMA, Japan, Nov. 14 (Xinhua) — Chinese President Hu Jintao left Yokohama, Japan, on Sunday for home after attending the 18th Economic Leaders’ Meeting of the Asia-Pacific Economic Cooperation (APEC). With the theme of “Change and Action,” this year’s Economic Leaders’ Meeting discussed the issues of regional economic integration, a growth strategy for the Asia-Pacific [...]
ICC seeks to add business voices to G20 at Business Summit
SEOUL, Nov. 10 (Xinhua) — The International Chamber of Commerce (ICC) hopes to strengthen the role of business circles in the global economy, letting their views known to leaders of the G20 via the G20 Seoul Business Summit, the organization said Wednesday. “Although the majority of issues tackled by the G20 are related to global [...]