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A leading economist at the Organisation for Economic Co-operation and Development (OECD) warns that chances of a second global recession are strong. “There are many icebergs the ship has to negotiate before we’re out of jail here. This is going to be a 10-year process, not a one year process,” said deputy director of the [...]
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According to the federal statistics office, Germany’s trade surplus soared by 12 percent in July with exports gaining 2.3 percent from the previous month.
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Official data published on Tuesday has shown Finland has entered into the deepest recession in the eurozone with its economy shinking to a record 9.4 percent in the second quarter on a 12-month comparison.
...read moreA World Bank report has shown that in light of the recession, a record of 131 economies have reformed business regulation in the fiscal year ending in May.
...read moreThe United Nations Conference on Trade and Development (UNCTAD) has dismissed the current financial market rebound as not a “real recovery”, believing any economic world growth in 2010 is unlikely to exceed 1.6 percent.
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Budget airlines around the world have recorded gains as travellers continue to book flights, albeit with tighter purse-strings. Low-cost air carriers including AirAsia and Ryanair have added routes and bought new planes, while more established airlines British Airways and Cathay Pacific have recorded losses. “Business is booming as people are looking for value,” said Tony [...]
...read moreThe global economy is in a fragile state and an economic recovery for the UK cannot be taken for granted, said British Prime Minister Gordon Brown at his monthly press conference yesterday. “There’s no room for complacency, the world economy remains fragile, economic recovery cannot be taken for granted either here or abroad,” he said. [...]
...read moreGenerosity in the current global recession is alive and well, with the United Nations announcing record levels of aid funding compared with previous appeals. UN Humanitarian Affairs head John Holmes says donor countries have contributed US$4.6 billion of the US$9.5 billion target for this year. In previous years, funding has been as low as 23 [...]
...read moreThe world is doing well to reduce poverty but the global recession is still a threat to Millennium Development Goals (MDGs), according to the United Nations. The United Nations Millennium Development Goals Report 2009 shows that while we’ve done a lot to reduce the number of people in extreme poverty, the global economic downturn may [...]
...read moreAfter “18 months of misery”, the New Zealand economy seems to be turning a corner, according to Brendan O’Donovan, chief economist at Westpac New Zealand. “Times are still very tough, but if it were not for the threat of swine flu, we would say that the recession has already ended,” he said. Westpac’s forecasts say [...]
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