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United States Should Respect the Integrity of Exisiting Economic Fundamentals in Solving Crisis

added: 15-10-2008

Despite the current gloomy economic news, the United States has successfully promoted the fundamentals of prosperity, ranking in fourth place with Germany and Singapore in the 2008 Legatum Prosperity Index. In reacting to the financial crisis, policymakers should be mindful that the country is nevertheless well positioned for continued prosperity in the long term.

Austria and Finland Among Top Three in Promoting Prosperity

added: 14-10-2008

European countries dominate the top ten in the 2008 Legatum Prosperity Index. The Index defines prosperity as a holistic combination of material wealth and life satisfaction, measuring how well nations are promoting both economic growth and quality of life. Australia holds the top spot, narrowly ahead of Austria and Finland. Germany ranks 4th, Switzerland 7th and Denmark is 9th in promoting overall prosperity. Yemen ranks last, following several African nations including Zambia and Zimbabwe.

EU 2008 Budget: Decision On €1 Billion Food Aid For Developing Countries Postponed

added: 14-10-2008

Members of the Budgets Committee decided on Monday to postpone their vote on the financing of €1 billion in food aid for the developing countries planned for 2008, a move that would have required an amendment to this year’s budget. They instead accepted a proposal by the Council presidency to "seek an overall solution", not restricted to 2008. This will be the subject of negotiations between the two arms of the budgetary authority on 21 November.

Monster Employment Index: September Sees Further Decline in UK Online Recruitment

added: 14-10-2008

The Monster Employment Index UK fell by eight points in September to reach a level of 159. This is the fourth consecutive decrease and the first time that the Index has shown a year-on-year decline. The Index is now at its lowest level since April 2007. Hiring fell the most in the environment, architecture and urbanism; and HR sectors but significantly fewer offerings were also noted in banking, finance and insurance.

ECB: the Report on EU Banking Structures

added: 14-10-2008

The European Central Bank (ECB) publishes its annual report on EU banking structures. The report, which has been published every year since 2002, reviews the main structural developments in the EU banking sector in 2007 and the first half of 2008.

Industrial Production Up by 1.1% in Euro Area in August 2008

added: 14-10-2008

In August 2008 compared with July 2008, seasonally adjusted industrial production grew by 1.1% in the euro area (EA15) and by 0.5% in the EU27. In July production fell by 0.2% and 0.1% respectively.

Fitch: U.S. CMBS Loans Resolved Quickly But Loss Severities Inch Up

added: 14-10-2008

Though U.S. CMBS servicers resolved fewer loans in 2007, more of those loans incurred a loss and at a higher severity than in the prior year, according to the latest annual CMBS Loss Study from Fitch Ratings.

Stock Markets Surged Worldwide

added: 14-10-2008

Markets surged worldwide, rebounding from their worst week in decades, after governments in Australia, Europe, the US and Asia agreed to support banks and combat the credit crisis.

European Banks: Britain Drives A Hard Bargain as Fed Opens Spigot

added: 14-10-2008

France, Germany, Spain, the Netherlands and Austria committed 1.3 trillion euros ($US1.8 trillion) to guarantee bank loans and take stakes in lenders, racing to prevent the collapse of the financial system.

Fitch: Challenging Times for Ukrainian Banks

added: 14-10-2008

Fitch Ratings states that near-term risks have increased considerably for Ukrainian banks as a combination of global financial market turmoil, worsening macroeconomic fundamentals and political uncertainty have resulted in deposit outflow, tighter domestic money markets and exchange rate volatility.

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