Russia slashes gas exports to Europe
January 7, 2009
Ukraine said on Tuesday that Russia had drastically cut gas supplies to Europe and warned of “problems” ahead as several European countries reported that deliveries of Russian gas had stopped. Russian state-run energy giant Gazprom slashed deliveries of gas bound for Europe by nearly 60 percent, its Ukrainian counterpart Naftogaz said, as a six- day stand-off between the two countries deepened.
Bleak economic outlook forecast for 2009 despite US hopes
January 6, 2009
European and Japanese officials on Monday warned the global downturn would worsen despite hopes that US president-elect Barack Obama could galvanise the world’s largest economy with a new stimulus plan. Fresh reports out on Monday also painted a gloomy picture, with Japan announcing its worst car sales since 1974 and the iconic Irish china and crystal maker Waterford Wedgwood saying it was on the verge of bankruptcy.
Prices of atta still high despite significant fall in int’l market
January 5, 2009
US manufacturing slumps to 1980 low
January 4, 2009
US manufacturing contracted for the fifth consecutive month in December to a 1980 low amid a sharp Asian slowdown and deepening recession in the world’s biggest economy, a survey showed yesterday
The Institute of Supply Management (ISM) said its key manufacturing index dropped 3.8 percentage points from November to 32.4 percent, far below the 50 percent level that separates expansion and contraction.
Dollar, pound fall against euro
January 3, 2009
The dollar slipped against the euro Monday amid a round of weak US data as the single European currency edged higher toward parity with the pound. The dollar was under pressure from reports of a record plunge in US house prices and consumer confidence at an all-time survey low that highlighted the deepening recession in the world’s biggest economy.
World stocks end wretched 2008 with modest rally
January 1, 2009
World stocks brought down the curtain on a miserable year with modest gains Wednesday but 2008 will be remembered for key markets shedding half their worth as the global economy endured a disastrous slowdown. Despite a number of bourses gaining some ground over the past few days, the overall picture for 2008 has been one of gloom as the worst economic crisis since the 1930s tore into investor confidence and battered equities.
European stocks jump after mixed Asian trade
December 31, 2008
European stock markets rose strongly in thin trade on Monday as Asian equities posted a mixed performance ahead of the New Year holiday break. Shares in oil, gas and mining companies were among the top gainers after global crude and copper prices ticked higher. However volumes were thin, with many investors waiting on the sidelines until January after the year-end holiday season.
European stocks jump after mixed Asian trade
December 30, 2008
European stock markets rose strongly in thin trade on Monday as Asian equities posted a mixed performance ahead of the New Year holiday break. Shares in oil, gas and mining companies were among the top gainers after global crude and copper prices ticked higher. However volumes were thin, with many investors waiting on the sidelines until January after the year-end holiday season.
Asian stocks mixed in year-end
December 28, 2008
Asian stocks were mixed on Friday, in light trading with several markets still closed for the Christmas holiday and investors bracing themselves for a grim new year, dealers said. Tokyo closed up 1.63 percent to a six-week high as dealers brushed aside more grim economic data and welcomed an easing of the yen, whose recent spike has scared exporters.
Output in recession-hit Singapore down 7.5pc in Nov
December 27, 2008
Singapore’s manufacturing output fell 7.5 percent in November, data released Friday showed, as exports from the recession-hit economy suffer during a global slowdown. The 7.5-percent decline, compared with the same month last year, was less than an average 15.0 percent drop forecast in a Dow Jones Newswires poll of economists. Gains in pharmaceutical production could not outweigh falls in most other categories, the preliminary data from Singapore’s Economic Development Board (EDB) showed.