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24
Oct
2015

Kuala Lumpur: We reported last month that the El Niño weather pattern which originates in the Pacific Ocean may be the strongest since 1950. In Asia this past week, Luzon, the main Philippine island, was deluged with water but not too far distant, there has been little rain and over 100,000 peatland fires in Indonesia have been tracked this year and they continue to smoulder, releasing greenhouse gases equivalent to about 600m tons through September 22, a number that rivals annual carbon dioxide emissions from Germany, according to Guido van der Werf, a Vrije Universiteit Amsterdam scientist.

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23
Oct
2015
20
Oct
2015

Despite heightened worries in recent weeks about the stability of China's economy and the process of reform, around two-thirds (63%) of senior executives from financial services companies in China, and more than three-quarters of those offshore (78%) think that the renminbi (RMB) will become fully convertible and tradable without restrictions in around five years'time. Majorities of both groups believe it will take only slightly longer (7-10 years) for the RMB to become a global investment currency. 

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20
Oct
2015
14
Oct
2015

Last month when Citi Research forecast that a global recession is likely in coming years, Martin Wolf, the chief economic commentator of the Financial Times wrote tha the case was plausible. "This does not mean we must expect a recession. But people should see such a scenario as plausible." On Tuesday Willem Buiter, Citi's chief economist and a former professor at the London School of Economics and Political Science, teaching political economy, told a Milken Institute conference in London (see video below) that the global economy faces a period of below potential growth and declining trade next year as emerging nations struggle with tightening monetary policy.

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7
Oct
2015

The International Monetary Fund warned on Tuesday that global growth is projected to decline from 3.4% in 2014 to 3.1% in 2015, and rise to 3.6% in 2016, reflecting in 2015 a further slowdown in emerging markets, partially offset by a modest pickup in activity in advanced economies — particularly in the Euro Area. This pickup, supported by the decline in oil prices and accommodative monetary policy, will modestly narrow output gaps.

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5
Oct
2015

The Organisation for Economic Cooperation and Development (OECD), a think-tank for 34 mainly advanced country governments, today issued final proposals on corporate tax reform that are a landmark development since the evolution of international business tax rules, which evolved in the 1920s under the direction of the League of Nations.

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2
Oct
2015

Nonfarm US jobs increased by 142,000 in September, and the unemployment rate was unchanged at 5.1% according to the Bureau of Labor Statistics. Employment rose in health care and information, while mining lost jobs. Thus far in 2015, nonfarm job growth has averaged 198,000 per month, compared with an average monthly gain of 260,000 in 2014. The broad rate of unemployment was at 10%.

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2
Oct
2015

Global manufacturing remained stuck firmly in the slow lane at the end of the third quarter, hindered by slumping demand in many key EM (emerging markets) countries. Meanwhile in more gloomy data Thursday, it was forecast that this year EM net capital flows will be outward bound for the first time since 1988.

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1
Oct
2015