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March 18, 2009
by Peter Charalambous
In order to deal with the global economic crisis the G20 summit has been seen as a critical point whereby the world’s biggest economic powers much show unity in the face of adversity in order to tackle the crisis effectively.
The finance ministers and central bankers from across the G20 will meet in England tomorrow which will ...
March 12, 2009
by Peter Charalambous
The drinks company Coca-Cola has emerged as one of the frontrunners in a bid to buy a minority stake in Innocent Drinks as the smoothie maker’s founders are looking to raise money to support an international expansion.
Innocent was founded 11 years ago by Adam Balon, Jon Wright and Richard Reed, graduates of Cambridge university ...
by Peter Charalambous
Over the last twelve months the number of billionaires has fallen by a third as the number of people across the world who are worth over £1billion fallen from 1,125 last year to 793 as the average billionaire had their net worth fall from $3.9bn to $3bn.
Collectively the world’s richest individuals had ...
March 9, 2009
by Peter Charalambous
The World Bank announced yesterday that it predicts that the global economy will recede for the first time since World War II, as world trade is expected to fall to its lowest in over 80 years.
The current global economic crisis will result in a multi-billion dollar shortfall in the poor and developing nations, said the World Bank.
Overall, a total ...
March 3, 2009
by Kay Murchie
Official figures from the VDA have revealed that sales of new Germany cars rose by 22% compared with the same month in 2008 - the highest February sales for a decade.
A total of 277,800 vehicles were sold in Germany during the month after a Government incentive offered consumers €2,500 (£2,236) to scrap their old car and ...
December 17, 2008
by Peter Charalambous
For the third consecutive month South African inflation slowed in November to an annual 12.1 percent.
This has meant that analysts are expecting the central bank to take the opportunity for action and lower interest rates by as much as 3 percent next year.
Statistics South Africa published the latest data on their website and the CPIX inflation rate, which does ...
December 2, 2008
by Peter Charalambous
The face of Christmas shopping in the credit crunch era is expected to change drastically, with an increase of 10 percent on online Christmas sales.
The total online spend is estimated to reach £4.7 billion this year with22 percent of people living in the North West expected to spend online, with Yorkshire the least likely at 11 percent.
Research from business advisory firm, Deloitte, ...
November 26, 2008
by Peter Charalambous
The Organisation for Economic Co-operation and Development (OECD) has called on both governments and central banks to inject more cash into their economies, in order to revive domestic spending and help fend off the recession that has been classified as the worst in over 25 years.
The OECD's latest projections indicate for a very bleak future due to the increased instability of ...
November 20, 2008
by Peter Charalambous
The European and Asian stock markets have been affected by the heightened fear that the long and protracted fall in the global economy will continue, which has caused the Dow Jones to fall to its lowest level in 5 years.
Shares in London have also been hit again today, due to the fact that investors have taken a hit in Japan ...
November 17, 2008
by Peter Charalambous
Saudi Arabia will help alleviate global financial stress by maintaining stable oil markets and boost its own economy by funding infrastructure projects as spending in the oil sectors is likely to exceed $400 billion over the next five years.
King Abdullah of Saudi Arabia said that his country will do all they can to help to maintain stable oil prices so as not to ...
November 14, 2008
by Peter Charalambous
The Organisation for Economic Cooperation and Development (OECD) has launched a widespread appeal to policymakers to introduce more measures by pumping cash into their economies as they cut the forecast for 2009 global growth for the second time in a year.
The OECD released its latest figures in Paris yesterday and indicate that gross domestic product will fall by 0.3 percent in the 30 member ...
September 29, 2008
by Kay Murchie
Stockmarkets around the world today have fallen sharply after it emerged that the UK’s largest buy-to-let lender, Bradford & Bingley (B&B), is to be nationalised.
The FTSE 100 index closed down 269.7 points to 4818.8, a fall of 5.3% and its eighth worst one-day percentage loss ever.
Shares in Barclays, RBS, Lloyds TSB, HBOS fell 8%, 19%, 12% and 15% respectively.
Under the ...
August 27, 2008
by Kay Murchie
Research by Thomson-Reuters Lipper, commissioned by the BBC, has found that savers investing their money in savings accounts have benefited rather than investing in UK stocks and shares.
The research found that if £1,000 was invested at the start of the decade, it would now be worth £1,094 in an average UK unit trust compared to £1,358 in a typical savings account.
The ...
July 21, 2008
by Peter Charalambous
Consumer spending on debit, credit and store cards fell last month in New Zealand and according to the central bank, domestic card spending increased at a slower pace of 2.3 percent from last year, even though overseas card spending experienced growth of 11.4%.
The tightened consumer spending is a further sign, alongside record-high interest rates and a slumping housing market, ...
by Peter Charalambous
Prices paid to Australian producers increased slower than predicted, as the producer price index advanced 1 percent after rising 1.9 percent in the first quarter, even though estimates indicated a figure closer to 1.6 percent.
Further details will be available on Wednesday when the consumer price report for the second quarter is due.
This latest development does support the view by the central ...
July 14, 2008
by Peter Charalambous
Government statistics revealed that the South Africa’s gold output for May has gone down to 11.6 percent compared to the same period in 2007, although overall mineral production has increased to 0.6 percent as non-gold minerals rise by 2.6 percent.
The country itself is struggling across a variety of sectors due to the sharp rise in fuel prices and energy blackouts ahead of ...
July 9, 2008
by Peter Charalambous
According to the leaders of the G8 nations, the world economy is facing turbulent times and they expressed their concern over commodity prices, namely oil and food as they are currently stalling worldwide growth.
Although they have remained positive about long term and future economic growth, the current situation is being seen as problematic as growth is being moderated as the ...
June 19, 2008
by Elisha Sanders
In spite of the economic turmoil that has been felt worldwide in recent months, investment banks from around the globe are still pushing ahead with plans to expand operations in Asia, namely China and India.
The World Bank recently released their 'Global Development Finance Report' which outlined the factors behind the continued economic push in the Asia region.
One ...
June 17, 2008
by Peter Charalambous
Global inflation concerns are mounting and so finance ministers from the Group of Eight nations have made a continued warning that surging food and fuel prices are threatening the global economy, amid the current uncertain economic climate which was debated at Osaka, Japan.
The meeting is set to cover a range of current issues such as the troubled financial markets and global warming.
With ...
May 27, 2008
by Peter Charalambous
South Africa's economy grew at the slowest pace in more than six years as the first quarter grow reduced to an annualized 2.1 percent, which is down from 5.3 percent from the last three months of 2007, caused mainly due to the power shortage which drastically reduced output in the mining industry.
However on an unadjusted basis, South Africa's ...
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