Monday, 09 May, 2005

Our Favorite Day - Monday Themes in today's news - power of the market! That if the basic underpinnings are solid, market economies can suffer incredible levels of stupidity and still hum along. The only worry is how fast it can capsize when the avarice overwhelms this inherent stability. FYI - our economic and news search is based upon GEM's Economic Rankings of Economies, we monitor and report news sources from the top two countires on each continent. BTW the United States has slipped from 4th to 11th in the last year - inspiring news. Sunday morning commentary - a new feature - reviews the same publications' editorial sections as well as my short list of thought leaders. For specific business news and commentary visit our sites: hyper-growth center for inspired performance growth project Have a great business day - success, wealth & health - Ciao 9:18:24 AM    comment []

Are the storm clouds on the horizon the harbingers of doom? On the other hand..... The doomsday theme is seeping into the normally circumspect world of economics. In April, Arjun Murti, a veteran analyst at the investment bank Goldman Sachs, warned that oil could "super-spike" to $105 a barrel. And increasingly, economists are prophesying that the U.S. economy as a whole may be sailing into stormy waters.   The government and consumers each year spend much more than they make, leaving the country with large and growing budget and trade deficits and personal debt load. 9:10:14 AM    comment []

Economy up, deficit down Our economy even mystifies me - the power of markets to overcome political avarice The budget deficit, despite the 2004 election campaign's gloomy forecasts of a fiscal meltdown, is falling sharply due to increasing tax revenues from stronger economic growth. Period.     This is just what tax-cutting supply-siders, and this columnist, predicted: Cut the tax burden on workers, businesses and capital, and the surge of growth that will follow will eat into the deficits and, with a slowdown in spending, gradually turn into surpluses. 9:07:58 AM    comment []

Steelmaker to lift output by mergers Buy steel futures now - think if you did this last year with oil China Special Steel Holdings, which will raise up to HK$333 million from an initial public offering in Hong Kong this month, said it plans to expand production capacity through mergers and acquisitions in the medium term. The expansion plan aims to fully capture the opportunities arising from the fast-growing special steel market in China, said chairman Dong Shutong without disclosing specific targets. 8:50:26 AM    comment []

US dollar firmer as robust US jobs data continues to give support Validation of Kudlow's comments yesterday on the US economy SINGAPORE : The US dollar was firmer in Asian trade Monday, still finding support in Friday's stronger-than-expected April US jobs data while speculation China was ready to revalue its currency soon faded, dealers said. The unit's gains were capped by Japanese exporter selling but overall the latest US figures would suggest that fears of the US economy running into a soft patch may have been overdone. 8:40:07 AM    comment []

Lenovo sets up ASEAN, India headquarters in Singapore Singapore on the rise...... Chinese computer giant Lenovo said it had chosen Singapore as its regional headquarters for operations in the Association of Southeast Asian Nations (ASEAN) and India. Lenovo, which formally announced on May 1 it had acquired IBM's personal computing (PC) division for 1.75 billion dollars, said Singapore would also be its global hub for sales support, supply chain control and global treasury. "Lenovo chose Singapore due to its central location in ASEAN, world-class logistics infrastructure, excellent international banking network and talented pool of professionals," Lenovo senior vice president, Mary Ma, said in a statement. 8:37:11 AM    comment []

Quietly sprouting: A European identity Perhaps there is hope..... BRUSSELS Jorgo Riss was born and raised in Germany: He has a weakness for bratwurst and a thoroughly Germanic seriousness about issues like solar power. But he also has an Italian casualness about punctuality and loves his 5 o'clock tea, a habit he picked up in London. 8:14:10 AM    comment []

As Poles take jobs, bitterness in Germany Not world news, but a great demonstration of the challenges for the EU. It can eventually create a Europe based on the French and German model, or one the resembles its newest members - Poland and the Czech Republic. Which do you believe will be nutured in Brussels? FRANKFURT The new Europe only arrived last year, but Boris Ried is already pining for the familiar old version.   Ludwig Ried & Sohn, a Frankfurt tile-laying company in its fourth generation, needs to charge €43.65, or $56.72, an hour to make ends meet, said Ried, its general manager.   But the enlargement of the European Union, which has brought to Frankfurt hundreds of Poles who are willing to work for half that, may now do what depression and war could not, he fears: put the Rieds out of business. 8:11:42 AM    comment []

Cape Verde may soon seek EU membership Cape Verde is one of the freest economies and societies in Africa afrol News, 9 May - Cape Verde's Prime Minister José Maria Neves this weekend in Portugal announced that his country may present a formal request to the European Union (EU) to seek membership later this year. Mr Neves has been encouraged by Portugal's and Spain's support for a possible EU membership request. Prime Minister Neves at a press conference in Lisbon said that he wanted Cape Verde to present a formal request to Brussels "even this year." Even if membership negotiations could take a long time, Cape Verde is any case wanted "to go as far as possible" in its attachment to the EU, Mr Neves said. 7:57:24 AM    comment []

Foreign banks 'feel comfortable' in Bahrain We have been touting Bahrain as a potential new Hong Kong located in the middle east. What a commerce society run by arabs will do to 7th century fundamentalism can only be in the worlds best interest. MANAMA: People feel safe in keeping their money in Bahrain because of the country's well regulated financial structure, says a top Indian banker. Foreign banks also feel comfortable in operating in the kingdom, thanks to the positive policies pursued by the government through the Bahrain Monetary Agency (BMA), said ICICI Bank's joint managing director Lalita D Gupte. "Bahrain is an extremely well-regulated financial centre," she told the GDN. "The general atmosphere in banking here is of very high quality." 7:51:38 AM    comment []

Divided Central America nervous over U.S. trade deal Interesting news commentary from Tehran on trade agreements SAN JOSE, Costa Rica (Reuters) -- Some Central American countries are dragging their feet over approval of a trade deal with the United States, while even supporters fear the pact could die in an increasingly hostile U.S. Congress. In a region still ravaged by 1980s-era civil wars and economic ruin, the U.S.-Central American Free Trade Agreement, or CAFTA, has been hailed as a way to rescue stumbling textiles industries and slow down mass emigration to the United States. 7:34:20 AM    comment []

Central American presidents on U.S. visits to push for free trade zone Wouldn't it be a more informed policy to engage our own hemisphere in trade than handing out aid? FORT LAUDERDALE, Fla. - (KRT) - Three Central American presidents are to visit South Florida on Monday as part of a multi-city tour to tout the proposed U.S. free-trade pact with the Dominican Republic and five Central American countries. Their trip culminates in Washington, D.C., with a May 12 meeting at the White House among leaders of all seven countries in the DR-CAFTA accord, including President Bush. 7:29:09 AM    comment []

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