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Economy

Australian Economic Growth Accelerates, Points to Rate Increase

Australia’s economic growth unexpectedly accelerated in the second quarter, driving the nation’s currency higher on expectations the central bank will raise borrowing costs from a half-century low. Gross domestic product rose 0.6 percent, the biggest gain in more than a year, from the previous three months when it grew 0.4 percent, the Bureau of Statistics said… Continue reading Australian Economic Growth Accelerates, Points to Rate Increase

Economy

U.S. Economy: GDP Contracts 1% as Recovery Approaches

The U.S. economy took a first step toward recovering from the worst recession since the 1930s in the second quarter as companies reduced inventories, spending started to climb and profits grew. Gross domestic product shrank at a 1 percent annual rate from April to June, less than the 1.5 percent decline projected by economists in… Continue reading U.S. Economy: GDP Contracts 1% as Recovery Approaches

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ECONOMIC AND FINANCIAL DEVELOPMENTS IN MALAYSIA IN THE SECOND QUARTER OF 2009

Growth declined at a slower pace in the second quarter The Malaysian economy contracted at a slower rate of 3.9% in the second quarter of 2009 (1Q 09: -6.2%), due mainly to higher public spending and positive growth in private consumption. Nonetheless, growth continued to be affected by weak external demand and private investment activity.… Continue reading ECONOMIC AND FINANCIAL DEVELOPMENTS IN MALAYSIA IN THE SECOND QUARTER OF 2009

Economy

MIER: 2009 GDP to shrink 4.2pc, economy needs RM8b more

Malaysia may need another RM8 billion to fight recession in its economy that the Malaysian Institute of Economic Research (MIER) says will shrink 4.2 per cent this year. The government has already put in RM67 billion in two stimulus packages of cash and guarantees to defend the economy that Prime Minister Datuk Seri Najib Razak… Continue reading MIER: 2009 GDP to shrink 4.2pc, economy needs RM8b more

Economy

Dollar Falls, Set for Weekly Loss Against Euro, on Yield Demand

  The dollar fell, heading for its biggest weekly loss against the euro in a month, as Asian stocks rose for a third day and on speculation the Federal Reserve will keep interest rates low. The dollar weakened against 11 of the 16 most-traded currencies as Dallas Fed President Richard Fisher may elaborate on the central bank’s… Continue reading Dollar Falls, Set for Weekly Loss Against Euro, on Yield Demand

Economy

Dollar’s Reserve Status May Deteriorate, Roubini Says

The dollar’s status as the world economy’s sole reserve currency may deteriorate, said Nouriel Roubini, the New York University economics professor who predicted the financial crisis. “We may see complementary reserve currencies,” Roubini said at a conference today in Athens. While it’s “not going to happen overnight,” the development “will diminish the role of the… Continue reading Dollar’s Reserve Status May Deteriorate, Roubini Says