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The NSW Department of State and Regional Development and Enterprise Connect will be hosting two free seminars to assist businesses with finding opportunities in the current economic downturn. The half-day seminars will teach attendees to reassess their customers, increase productivity, and introduce businesses to exporting opportunities. Opportunity Upturn in an Economic Downturn is their second [...]
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A spokesperson for the International Monetary Fund (IMF) has named the swine flu outbreak as an international event that could see the continuation of the global recession. IMF first deputy managing director John Lipsky said the risks inherent in the new virus were hard to predict but may have “notable economic effects” and warned that [...]
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Developed countries should increase their aid budgets during this global economic downturn to prevent economic asylum seekers from attempting to enter more stable economies, says Deakin University research expert Jonathan Ritchie. “The collapsing world economy, with its dire consequences especially for developing countries, will see more and more people taking a chance on a better [...]
...read moreFederal Treasurer Wayne Swan has pointed to worsening global conditions, which he says would force the Government to run the “temporary” Budget deficit until 2015. The deficit for 2009/10 is expected to be $50 billion, but could be up to $70 billion. “There’s no doubt that the deficit will last longer, the temporary deficit will [...]
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Officials for the Asian Development Bank (ADB) have advised the region to sever its reliance on export-driven growth and instead spend more on reducing poverty. The current economic crisis has adversely affected the region due to its reliance on consumer demand in the most severely affected countries, such as the USA. Attendees at the bank’s [...]
...read moreA conglomerate of 13 Asian nations will build an emergency fund of US$120 billion (A$163 billion) to use during economic downturn. The initiative was announced as an aside to the Asian Development Bank annual meeting in Indonesia at the weekend. Almost a third of the funds in The Chiang Mai Initiative will come from China [...]
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The Asian Development Bank yesterday announced that 56,000 children in Asia could die as a result of the global economic crisis. “This is not only a financial crisis but also a social crisis,” said the bank’s managing director general, Rajat Nag. “In developing Asian countries outside Japan, our estimate shows that because of the declining [...]
...read moreWorld recession has forced the Australian government to go into deficit, which could be between $50-80 billion according to estimates. Prime Minister Kevin Rudd remarked: “Australians didn’t cause this thing but we are certainly suffering from the consequences.” The Budget was in surplus by $22 billion last May. Treasurer Wayne Swan confirmed that next week’s [...]
...read moreANZ today announced its latest round of free small business workshops in every capital city, to help business owners manage and grow their business during the economic downturn. Industry experts will be on hand to answer any questions posed by the small business community, with the workshops featuring experts from Google, Marketing Angels, businessplans.com.au and [...]
...read morePeter Costello has emerged from the backbench to launch a scathing attack on the Federal Government on their handling of the financial crisis, including criticising their stimulus package handouts. The former Howard Government Treasurer said the cash handouts were unlikely to stimulate the economy and will just put the country into even more debt and [...]
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