||Last Updated: Oct 9, 2015 - 12:32 AM
A study of the impact of the Great Recession on the the potential growth rate of 23 developed countries including Ireland, that are members of the Organisation for Economic Co-operation and Development (OECD), has found that the impact on output in 2015 will be as if the German economy had vapourised.
Jun 13, 2014 - 8:15 AM
EY’s 13th Global Fraud Survey, 'Overcoming compliance fatigue: reinforcing the commitment to ethical growth,' has found that 57% of Irish respondents consider themselves to be at high risk of cybercrime attacks. The survey included in-depth interviews with more than 2,700 executives across 59 countries, including chief financial officers, chief compliance officers, general counsel and heads of internal audit.
Jun 13, 2014 - 2:06 AM
The World Bank has cut its global growth forecast amid weaker prospects for the US, Russia and China, while urging emerging markets to strengthen their economies before the Federal Reserve raises interest rates. Developing countries are headed for a year of disappointing growth, as first quarter weakness in 2014 has delayed an expected pick-up in economic activity, according to the lender’s Global Economic Prospects (GEP) report, released in Washington DC Tuesday.
Jun 11, 2014 - 12:18 AM
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to suggest that the growth momentum is weakening in most major emerging economies. CLIs point to growth below trend in Brazil, China and Russia. Nevertheless, the CLI tentatively indicates a positive turning point in India, suggesting a return to faster growth.
Jun 10, 2014 - 11:28 AM
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI (purchasing managers' index) surveys, continued to indicate weak output growth across global emerging markets in May. The EMI posted 50.6, from 50.4 in April, the highest in three months but well below its eight-and-a-half year long-run trend level of 53.8.
Jun 10, 2014 - 7:34 AM
The US again heads the FDI Confidence Index (FDICI) survey and despite unresolved economic challenges in the Eurozone, 11 European countries still rank in the top 25, some entering the ranking for the first time; Canada moved up to the third spot; 39% of respondents voiced a more positive sentiment than last year for second-ranked China; and Russia (last year’s 11th rank) fell off the top 25 ranking, despite the fact that the survey was fielded prior to the current political imbroglio in Ukraine.
Jun 4, 2014 - 7:51 AM
May data signalled a further expansion of the global manufacturing sector, taking the current sequence of growth to one-and-a-half years. This was reflected in the JPMorgan Global Manufacturing PMI (purchasing managers' index) - - a composite index produced by JPMorgan and Markit in association with ISM (US Institute for Supply Management) and IFPSM (International Federation of Purchasing and Supply Management) -- posting 52.2, slightly higher from April’s six-month low of 51.9. However, the overall rate of improvement in business conditions remained modest, with the average pace of increase in Q2 so far below that registered in Q1.
Jun 4, 2014 - 1:14 AM
Total merchandise exports of the G-7 and BRICS economies combined fell 2.6% in the first quarter of 2014 compared to the previous quarter (seasonally adjusted figures in current US dollars). Imports stagnated with only 0.1% growth over the same period (mainly due to continued imports of crude oil and fuels, according to the Organisation of Economic Co-operation and Development (OECD) today.
May 27, 2014 - 11:13 AM
TripAdvisor, the travel review website, this week announced the results of its second annual Cities Survey, revealing how travelers view key tourist cities around the world. The results were compiled based on more than 54,000 responses from those who have recently written TripAdvisor reviews for featured cities around the world. Ranking first for city with the best overall experience was Tokyo. The city also claimed top spots for helpfulness of locals, taxi service, local public transportation, and cleanliness of streets. Tokyo received high marks across the board, as it ranked among the top 10 in 13 of 16 categories in the survey. In contrast, Beijing was at the bottom of the rankings.
May 22, 2014 - 2:50 PM
IMD the Swiss business school on Wednesday announced its annual world competitiveness ranking. As part of its ranking of 60 economies for 2014, the IMD World Competitiveness Center also looks at perceptions of each country as a place to do business. The top 3 are US, Switzerland and Singapore with Ireland in 15th place up from 17th in 2013, and behind Malaysia with a 12th rank.
May 22, 2014 - 6:59 AM
Google has overtaken Apple to become the world’s most valuable global brand in MillwardBrown's 2014 BrandZ Top 100 Most Valuable Global Brand ranking. US companies take all the top 10 positions.
May 22, 2014 - 4:05 AM
Singapore keeps its top spot in the Economist Intelligence Unit's (EIU) world's most business-friendly locations, staying ahead of second-placed Switzerland and third-placed Hong Kong. Ireland gets a 15th ranking.
May 21, 2014 - 1:54 PM
May 21, 2014 - 12:38 PM
Germany stands out among the countries where immigration increased in 2012 according to the Organisation for Economic Co-Operation and Development (OECD; pdf).
Following the issue on Thursday of a dismal GDP (gross domestic product) growth estimate of 0.2% in the Eurozone in the first quarter of this year, later in the day in Washington DC, the Federal Reserve reported that industrial production fell 0.6% in April and the Bureau of Labor Statistics (BLS) reported that real (inflation-adjusted) US average weekly earnings fell 0.1% over the month due to the decrease in real average hourly earnings combined with an unchanged average workweek.
May 16, 2014 - 8:05 AM
Global fund managers have increased cash and scaled back risk-taking, amid fears of geopolitical instability and questions about the strength of the global economic recovery. Meanwhile German economic expectations have worsened in May 2014. The ZEW Indicator of Economic Sentiment has fallen by 10.1 points and now stands at a level of 33.1 points (historical average: 24.7 points) - The Centre for European Economic Research (ZEW - - Zentrum für Europäische Wirtschaftsforschung) in Mannheim is a nonprofit and independent institute. It was founded in 1990 on the basis of a public-private initiative in the federal state of Baden-Württemberg in co-operation with the University of Mannheim.
May 14, 2014 - 6:54 AM
Corporate Tax Avoidance: Ahead of the weekend G-20 International Tax Symposium that was held in Tokyo, The Wall Street Journal reported that the US is ready to join China and four other countries in an alliance to fight efforts by multinational corporations to avoid paying taxes.
May 11, 2014 - 4:23 PM
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI (purchasing managers' surveys), continued to indicate only a marginal increase in output across global emerging markets in April. The EMI posted 50.4, from 50.3 in March, well below its eight-and-a-half year long-run trend level of 53.9.
May 8, 2014 - 10:07 AM
May 8, 2014 - 1:40 AM
A group of nomadic Jenish people hit the headlines in late April when they arrived in the capital Bern, and set up camp to protest the lack of places made available to them. Switzerland’s “most attractive town”, for example, has “no interest” in respecting their rights.
In a huge blow against the use of bank secrecy in offshore tax havens to
engage in personal tax evasion with impunity, Switzerland and Singapore, two of the
world's biggest offshore financial centres, agreed on Tuesday to join an
Organisation for Economic Co-operation and Development's (OECD) system for the automatic
exchange of banking information between jurisdictions.
May 7, 2014 - 7:40 AM
The OECD today urged the European Central Bank to cut interest rates, even as it said it expected the recovery in advanced economies to accelerate this year.
May 6, 2014 - 4:04 PM
A Bloomberg News report from Jesse Drucker says that a handful of European tax havens may hold the key to pressuring Russia to pull back from Ukraine. The report says that the extensive use of foreign subsidiaries by Russia’s richest businessmen exposes their assets to sanctions. Yet capitalizing on this vulnerability requires help from countries that rely economically on Russian capital flight and have traditionally protected investors against foreign laws.
May 6, 2014 - 12:13 AM
It has become very hard for qualified workers over 50 to find a new job. International companies in particular increasingly prefer hiring young managers.
May 1, 2014 - 6:58 AM
Swiss Pay 2002-2012: Increases in the highest wages paid in the Swiss private sector were more than double the lowest wages between 2002 and 2012, according to figures released Monday by the Swiss Federal Statistical Office (FSO).
Apr 29, 2014 - 9:03 AM
Last March, Chiquita of the US, the largest banana trading company in the world and a successor company to the United Fruit Company of Banana Republic fame, and Fyffes of Ireland, one of the main suppliers to the European market, announced a merger, making the new company ChiquitaFyffes, an undisputed leader in the banana market.
Apr 24, 2014 - 11:00 AM
Investor confidence in global economic growth remains high even as expectations of higher short-term rates increase, according to the BofA Merrill Lynch Fund Manager Survey for April.
Apr 17, 2014 - 9:48 AM
IMF Fiscal Monitor: In many countries, public finances remain on edge as economies struggle to return to pre-crisis levels of economic growth, highlighting the need for growth-supporting fiscal reforms while public debt ratios in advanced countries have stabilised. However, the average debt ratio in advanced economies, although edging down, sits at historic peaks, and we project it will still remain above 100% of GDP (gross domestic product) by 2019.
Apr 10, 2014 - 2:05 AM
The global recovery is becoming broader, but the changing external environment poses new challenges to emerging market and developing economies, says the IMF’s latest World Economic Outlook (WEO). The Fund warns that the risk from persistently low inflation/ deflation in advanced economies, in particular in the Eurozone.
Apr 8, 2014 - 3:07 PM
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI (purchasing managers' index) surveys, fell for the fourth month running to 50.3 in March, from 51.1 in February, indicating only a marginal increase in private sector output across global emerging markets.
Apr 7, 2014 - 8:25 AM
Russia’s credit rating outlook was cut to negative from stable Thursday by Standard & Poor’s, which said economic risks have risen because of Western sanctions over the seizure of Ukraine’s breakaway Crimea region. On Friday, the MICEX share index in Moscow is down 2.6%.
Mar 21, 2014 - 9:14 AM
The Russian state owns half of the shares in gas giant OAO Gazprom while US and UK resident shareholders hold 74% of the privately held shares, according to JP Morgan data.
Mar 19, 2014 - 8:25 AM
The HSBC Emerging Markets Index (EMI), a monthly indicator derived from the PMI (purchasing managers' index) surveys, fell for the third month running to 51.1 in February 2014, from 51.4 in the first month of 2014. That signalled the weakest growth in global emerging market output since last September, with the EMI also remaining well below its long-run trend level of 54.0.
Mar 7, 2014 - 8:15 AM
The global manufacturing sector continued to make solid and steady progress in February. At 53.3, the JP Morgan Global Manufacturing PMI (purchasing managers' index) - - a composite index1 produced by JPMorgan and Markit in association with ISM (US Institute for Supply Management) and IFPSM (International Federation of Purchasing and Supply Management) - - rose to a 34- month record, edging up from 53.0 in January.
Mar 4, 2014 - 7:56 AM
Swiss banks are in the firing line - - Credit Suisse went before the United States Senate earlier last week - - but so far the Swiss authorities have contained the fallout to prevent another UBS-style disaster. Experts are divided, however, on how the US Department of Justice will act on Credit Suisse.
Mar 4, 2014 - 7:52 AM
If the powers of the West have the backbone to respond to President Putin's military aggression in the Ukraine with tough economic sanctions, they would come at a fragile time for the Russian economy.
Mar 3, 2014 - 6:02 AM
It’s a u-turn, but unavoidable: bankers and politicians are preparing for the automatic exchange of tax information. Switzerland has helped develop the new standard, which the OECD wants to fast-track worldwide.
Feb 25, 2014 - 2:57 AM
Pier Carlo Padoan, deputy secretary general and chief economist at the Organisation for Economic Cooperation and Development (OECD), who today was appointed Italian finance minister in the new government of Matteo Renzi, warned this week that "faster job creation is unlikely to be enough to bring employment rates back to pre-crisis levels, let alone to levels that would offset the impact of population ageing in advanced economies."
Feb 22, 2014 - 9:51 AM
Tensions are rising in canton Valais, Switzerland, pitting the local authorities against citizens over the benefits of urban development versus cultural preservation. The reason? A plan to end lump-sum taxation for wealthy foreigners that will come to a nationwide vote next year.
Feb 21, 2014 - 2:20 AM
Vienna is the city with the world’s best quality of living, according to the Mercer 2014 Quality of Living rankings, in which European cities dominate. Zurich and Auckland follow in second and third place, respectively. Munich is in fourth place, followed by Vancouver, which is also the highest-ranking city in North America. Ranking 25 globally, Singapore is the highest-ranking Asian city, whereas Dubai (73) ranks first across Middle East and Africa. The city of Pointe-à-Pitre (69), Guadeloupe, takes the top spot for Central and South America. Dublin is ranked 34 in a list of 223 cities - - the Irish capital had a 25th ranking in 2009.
Feb 20, 2014 - 1:10 AM
Growing fears of a hard landing for China’s economy have further marginalized emerging market equities. But investors have sent a clear signal that sentiment toward developed world equities remains strong, according to the BofA Merrill Lynch Fund Manager Survey for February. Meanwhile, optimism towards Europe has reached new highs.
Feb 19, 2014 - 2:22 AM
Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, continue to show signs of an improving economic outlook in most advanced economies.
Feb 10, 2014 - 2:36 PM