Latest Posts
-
News 0
Ryanair speeds up first dividend as profit rising
Irish airline Ryanair brought forward plans to pay its first dividend since being floated in 1997 as it swung back to a full-year profit ahead of most rivals and expected to grow earnings further this year. Europe’s biggest low-cost carrier earlier said it could end its no-dividend policy around 2013 when it will scale back growth, though some analysts have thought the comment was a move in its bargaining with Boeing over aircraft orders. “People often listen to what Ryanair says and say this is just palaver or putting it on,” Deputy Chief Executive Michael Cawley told reporters. “It’s probably come a little bit sooner than others w... -
News 0
Nigeria looks to alter key 2010 budget assumptions
The ministry raised the alarm earlier in May that government revenues, mostly from oil sales, were not enough to fund this year’s expansionary spending plans and could force the OPEC member to use all of its windfall oil savings. Remi Babalola, minister of state for finance, told reporters it would propose revisions to the budget’s assumptions for the oil price, crude production and naira exchange rate. The 2010 budget, signed into law in April, assumes a global oil price of $67 a barrel, crude oil production of 2.35 million barrels per day and an exchange rate of 150 naira to the US dollar. “If you put the exchange rate at 150 and the ... -
News 0
NATO says security key to economic growth
NATO Secretary General Anders Fogh Rasmussen has been quoted as saying economic growth was dependent on global security and that governments should be aware of this when cutting defence budgets. Rasmussen said in an interview that pressure on governments to reduce budget deficits would undoubtedly lead to cutbacks in defence spending but urged NATO countries not to undermine security. “All governments should be aware of the long-term impact of too deep cuts in defence budgets because we know from experience that economic growth is very much dependent on a secure international environment,” said Rasmussen. “We know that instability and i... -
News 0
Geithner offers China vow of greater fiscal discipline
US Treasury Secretary Timothy Geithner told future Chinese leaders that the Obama Administration will cut its budget deficit once it is sure the economy is safely growing. In a speech to about 30 middle-aged cadres at the Central Party School, Geithner said Washington is aiming to steadily lower its deficit as a percentage of national output. “The basic strategy is to make sure that our economy is growing, then institute long-term reforms, and restore the basic discipline to the budget process that we abandoned in the previous decade,” Geithner said. China, which holds some $895bn of US treasury debt, has previously expressed concern over... -
News 0
China avoids commitment to US on currency
China struck a conciliatory note at the opening of talks with the US by vowing to spur domestic demand and keeping a guarded opening to exchange rate reform, which the Obama administration says is needed to rebalance the global economy. The US treaded softly on the subject and welcomed Beijing’s long-standing pledge to reform the yuan as the two sides held their second Strategic and Economic Dialogue. The one slight point of discord were US calls for a tougher line against North Korea over an alleged sinking of a South Korean warship, contrasting with China’s appeals for restraint. The world’s biggest and third-biggest economies are see... -
News 0
BOJ outlines new loan scheme, warns on Europe woes
The Bank of Japan has outlined a loan scheme aimed at supporting growth industries and upgraded its assessment of the economy, but said Europe’s debt debacle needed watching for its impact on the global economy. The eurozone’s struggle to limit the fallout from the Greek debt crisis and the yen’s ensuing rise against the euro clouded the outlook for Japan’s economy, which the BOJ described as “starting to recover moderately” even as the finance minister warned of the potential damage of sharp yen gains. As widely expected, the central bank kept interest rates on hold at 0.1 percent and refrained from any new monetary easing steps.... -
News 0
Kenya expects 4-5% economic growth this year
Kenya expects economic growth to accelerate to between four and five percent this year, helped by the likely recovery of the global economy and as favourable weather conditions boost agriculture, its planning minister says. East Africa’s biggest economy expanded by 2.6 percent in 2009, up from a revised 1.6 percent in 2008, the government said, supported by growth in tourism, construction and communications, and fiscal and monetary stimulus measures. Last year’s growth, however, was still well below the seven percent expansion recorded in 2007 before a bloody post-election crisis, drought and the fallout from the global financial crisis c... -
News 0
ICAP year profit beats forecast, good start to Q1
ICAP, the world’s biggest interdealer broker, reported a good start to its financial year, helped by active and volatile markets, when posting a better than expected five percent drop in full-year pretax profit. Concerns about Greece and other peripheral European sovereign debt and a 750 million euro rescue package have led to wide swings in over-the-counter currency, interest rate and credit markets. That volatility boosts trading volumes and drives growth in interdealer broking. ICAP’s adjusted pretax profit fell to £333m for the year to end-March on revenue up one percent to 1.61 billion. That compared with consensus forecasts of £30... -
News 0
Nikkei hits 10-wk closing low, yen strength weighs
Japan’s Nikkei average fell 2.2 percent to a 10-week closing low on May 17 as the euro’s tumble to a four-year trough chilled investor sentiment and fanned worries that the eurozone’s fiscal woes could slow global economic growth. Exporters such as Canon Inc were hit as the yen advanced, while trading houses were hurt by a fall in metals prices and China-linked shares such as Komatsu by a drop in Shanghai stocks. Astellas Pharma pared losses and briefly turned positive after Japan’s number two drugmaker agreed to buy US biotech OSI Pharma for $4bn in cash that allows it to add OSI’s blockbuster cancer drug Tarceve to its line-up. Th... -
News 0
Nations pledge record $4.25bn for environment fund
Donor countries have pledged a record $4.25bn over the next four years for the Global Environment Facility, the world’s largest public green fund that helps developing countries tackle climate change. The commitments by 30 donor countries during a session in Paris is a 52 percent increase in new resources for the facility. GEF Chief Executive Monique Barbut said the replenishment of funds is the first “tangible confirmation of financial commitments” made during international climate talks in Copenhagen in December. In Copenhagen, negotiators from industrialised and emerging nations sought to agree on the basic terms of a new global clim...
Top Posts
-
The Importance for Individuals to Use Sustainable Chemicals
-
Small Businesses: Finding the Right Candidate for the Job
-
How to Write the Perfect Thank You Letter After Your Job Interview
-
3 Best Large-Cap Blend Mutual Funds For Enticing Returns
-
China suspected in massive breach of federal personnel data
