The Bank of Canada is expected to adjust its current monetary policy “to reflect the growing risk of a global economic slowdown” (Governor, David Dodge). Looks like we might not see an interest rate cut after all.
“It’s quite clear that global financial turbulence that we were experiencing then is now going to be more […]
Consumer debt is on the rise in the United States. Who would’ve guessed? I mean the credit crunch wasn’t that bad was it? Guess again… Yankee consumers have been borrowing at the fastest pace in three months, with increased usage of their credit cards.
The U.S. Federal Reserve reported that consumer credit rose at an annual […]
That’s right… The CN Tower has been surpassed in height by a Dubai building, under construction. This means the CN Tower no longer holds the title as “the world’s tallest building”. The Burj Dubai, a US$4.1-billion hotel, business, and residential complex under construction in the United Arab Emirates, yesterday reached slightly above the CN […]
China recalls, recalls, and recalls. I’m sure it’s not the first time you heard the words “China” and “recall” together (well by now, at least four times). China is being faced with immense pressure on the safety of its export products. The recent recall of Fisher-Price toys (Dora, Diego, and Sesame Street characters) was […]
President George W. Bush, with his very reassuring (or not) tone, today said he believe the recent turbulence on Wall Street will soon be over, and we will reach a “soft landing”. Maybe he was talking about war planes in Iraq, Katrina rescue planes, or social security? I don’t think he even knows himself. Sorry […]
The latest of attempts in keeping the world’s fourth-largest economy from overheating, was today when China’s central bank raised the level of deposit that lenders must hold in reserve (the bank reserve requirement) for the 9th time in thirteen months.
Again this is not a surprising move, as the policy makers have been continuously tightening policy […]
The International Monetary Fund raised its global economic growth forecasts on Wednesday. In its forecast, the IMF mentioned increased expansion in China, India, and Russia; and also some stability in the United States despite the risks it still faces in its housing market The IMF updated its global growth forecast to 5.2 percent for both […]
Pratibha Patil, 72,  will become India’s first female PM. She won almost two-thirds the votes by state assemblies and the country’s parliament. Patil will be sworn in as president for a five-year term on July 25. Patil’s victory is more iconic, and a boost to all Indian women, who still today confront widespread discrimination.