Posted on May 15, 2008 by lushhomeonline
It is closing the gap on top-ranked US; 2008 may be the year the US falls from its pole position
SINGAPORE remains the world’s second most competitive economy but is closing the gap on the top-ranked United States, according to an annual analysis.
Now in its 20th year, the World Competitiveness Yearbook (WCY) by Swiss business school [...]
Filed under: General, Global Economy, Singapore Economy | Tagged: IMD, Singapore Economy, Stephane Garelli, World Competitiveness Yearbook, World Most Competitive Economy | No Comments »
Posted on May 15, 2008 by lushhomeonline
He expects house prices to fall another 15-20% over the next 20 months
THE worst is far from over for the US economy, which is facing its worst consumer-led recession in more than three decades, the top economist for North America at Merrill Lynch said yesterday.
Despite aggressive efforts by the US government and central bank to [...]
Filed under: General, Global Economy | Tagged: David Rosenberg, Merrill Lynch, Merrill Lynch on US Economy, US Economy, US Economy Outlook, US Recession | No Comments »
Posted on May 15, 2008 by lushhomeonline
Problems include imbalances between currencies; rising oil and food prices
THE International Monetary Fund does not expect the global economy to recover before next year, its chief Dominique Strauss-Kahn said yesterday.
Mr Strauss-Kahn told a conference in Jerusalem to mark Israel’s 60th birthday that while a ‘large part’ of a global financial crisis was ‘probably’ over, he [...]
Filed under: General, Global Economy | Tagged: Dominique Strauss-Kahn, Financial Crisis, Global Economy, Global Economy Outlook, IMF, IMF on Global Economy, Inflation, Subprime | No Comments »
Posted on May 15, 2008 by lushhomeonline
THE US dollar made an impressive comeback in Asia yesterday, surging to a six-week high of S$1.3850 and recording fresh 2008 peaks of 42.67 Indian rupees and 42.85 Philippine pesos. Elsewhere, weaker non-Asian units like the British pound and New Zealand dollar plumbed US-dollar lows not traded for the best part of three and four [...]
Filed under: General, Global Economy, Singapore Economy | Tagged: Sing Dollar, US Dollar, US Retail Sales | No Comments »
Posted on May 15, 2008 by lushhomeonline
It could take a few years for the United States economy to bounce back. This was the prediction from one of Merrill Lynch’s top strategists at the start of its “Rising Stars” conference in Singapore yesterday.
Mr Mark Matthews, the firm’s chief Asia strategist, said: “We are looking at a protracted recovery that’s going to take [...]
Filed under: General, Global Economy | Tagged: Mark Matthews, Merrill Lynch, US Economy | No Comments »
Posted on May 15, 2008 by lushhomeonline
US recession is less of a threat as the European Union is this region’s largest trading partner
THE United States economy may be heading south, but Asia should be more concerned about global consumer prices heading north.
That was the view of several economists from US financial giant Merrill Lynch who spoke at a Singapore conference for [...]
Filed under: General, Global Economy | Tagged: Asia Economy, Asia Economy Outlook, Inflation, Merrill Lynch, Merrill Lynch on Asia Economy | No Comments »
Posted on May 14, 2008 by lushhomeonline
The US economy is in a recession and stimulus from a government tax rebate later this quarter will only temporarily stem a fall in consumer spending, a Merrill Lynch economist said on Wednesday.
US households will get tax rebates next month as part of a US$152 billion stimulus package passed earlier this year, aimed at propping [...]
Filed under: General, Global Economy | Tagged: David Rosenberg, Merrill Lynch, US Economy, US Recession, US Tax Rebate | No Comments »
Posted on May 14, 2008 by lushhomeonline
But liquidity moves have helped relieve strain: Bernanke
US Federal Reserve chairman Ben Bernanke said yesterday that emergency Fed liquidity measures have helped relieve strain in financial markets, but the recovery process remains incomplete.
‘To date, our liquidity measures appear to have contributed to some improvement in financing markets,’ he told the Federal Reserve Bank of Atlanta’s [...]
Filed under: General, Global Economy | Tagged: Ben Bernanke, Credit Crisis, Inflation, Interest Rate Cuts, Term Auction Facility, US Economy, US Federal Reserve | No Comments »
Posted on May 14, 2008 by lushhomeonline
United States Federal Reserve Chairman Ben Bernanke said the credit crisis was not over, even as his colleagues revealed growing concerns about inflation that could signal a pause in interest rate cuts.
‘Conditions in financial markets are still far from normal,’ Mr Bernanke said on Tuesday. ‘Ultimately, market participants themselves must address the fundamental sources of [...]
Filed under: General, Global Economy | Tagged: Ben Bernanke, Credit Crisis, Inflation, Interest Rate Cuts, US Economy, US Federal Reserve | No Comments »
Posted on May 14, 2008 by lushhomeonline
ASIA’S strong economic growth will persist despite an ailing US economy as the region diversifies its export markets and a new breed of young and wealthy citizens drive consumption, investment bank Merrill Lynch said on Wednesday.
Inflation is a bigger risk to the region than a slowdown induced by a recession in the United States, the [...]
Filed under: General, Global Economy | Tagged: Asia Economy, Inflation, Merrill Lynch, Timothy Bond | No Comments »
