News from Emkay Global Financial Services is that it is “bearish on Canara Bank (CBK).” In a research report from May 5 of this year, it has “recommended reduce rating on the stock with a target of Rs 560.” Apparently, CBK’s profits were lower than anticipated, probably due to a decrease in NIM’s which dropped… Continue Reading
It looks like the global economy is still on the road to recovery. Problem is, that road might be getting somewhat slippery according to Jan du Plessis (chairman of Rio Tinto). He says that markets around the world, “remain fragile.” He spoke about this at today’s yearly miner’s meeting that took place in Perth. Although… Continue Reading
UK’s 1981 Economy Things were pretty bad economically 30 years ago just before Charles – probably somewhat regrettably – said “I Do” to Diana. But according to a recent study comparing the economics of the time between the two royal weddings spanning the last three decades, things for Britain’s economy were “beginning to turn a… Continue Reading
Over quarter of a million low-paid workers will be sure to benefit from the introduction in Hong Kong of a minimum wage. This is approximately 10 percent of the working population who will have to earn at least HK$28 ($US3.60) an hour and is an attempt to “narrow the territory’s wealth gap.” Of course however,… Continue Reading
According to today’s figures from the Office for National Statistics (ONS), the UK economy only grew by 0.5 percent between January and March 2011. But apparently this wasn’t too much of a surprise and is pretty similar to what happened during 2010’s last quarter, which was blamed on poor weather conditions. But in terms of… Continue Reading
More bad news about the dollar. Just today it has depreciated further to “three-year lows.” This has resulted in US crude oil jumping to a 2 ½ year high and rising Asian stocks “as investors bet that the easy U.S. monetary policy will continue to drive money to riskier assets.” It is anticipated that the… Continue Reading
Surprising Maltese Status It might be somewhat of a shock to those not-in-the-know that Malta – a tiny portion of land found in the Mediterranean Sea measuring approximately 300 sq km – is pretty big when it comes to economic and welfare aspirations and successes. Yet apart from its somewhat modest… Continue Reading
Republicans United on Budget Plan The House of Representatives agreed on a budget plan last week (at a vote of 235-193) for 2012 which will involve “slashing trillions of dollars in government spending while cutting taxes.” This looks like it’s fantastic news, but since there is no such thing as a free lunch, who is… Continue Reading
Things aren’t looking good again. We keep hearing about the global economic crisis but were hoping that the recovery from it was well underway. Unfortunately, when looking at the stats, this doesn’t seem to be the case. Oil prices are increasing, sovereign debt burdens are becoming unsustainable and along with lack of certainty vis-à-vis the… Continue Reading
Preventive Global Economic Crisis Measures It was bad enough that we had to endure the worst global economic crisis since the Second World War, but what would be even worse would be not learning from it. So what can be done today? Measures need to be taken now to ensure a continual “tracking of economic… Continue Reading