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According to the Iron and Steel Association, the profits of the entire Chinese steel industry totaled RMB84.6bn in the year of 2008, down 43.7% year-on-year, while the taxes stood at RMB114.9bn, decreasing by 23%. The sharp decline in steel industry profits was mainly due to cost rise, the global financial crisis, as well as the [...]
The global financial meltdown and ensuing economic slowdown has captured the attention of the business and popular press for the past few months. The sight of hallowed Wall Street institutions tottering on the verge of collapse has unnerved markets and governments. But an equally serious specter is looming over policymakers as they try to jumpstart [...]
London, Wednesday, October 08, 2008 ARANCA News Report (www.aranca.com) : In a much awaited coordinated move, the 27 governments of European Union (EU) agreed to guarantee private savings of up to 50,000 euros for one year. Though a minimum threshold of 100,000 euros was contemplated but the EU finance ministers had to settle for half of [...]
London, Wednesday, January 30, 2008 ARANCA News Report (www.aranca.com) :The US will avoid slipping into recession this year, the International Monetary Fund has predicted. The aid package being formulated by Congress, coupled with the Federal Reserve’s 0.75 per cent interest rate cut, will provide a boost to the economy and prompt a healthier outlook towards [...]
London, Friday, January 04, 2008 ARANCA News Report (www.aranca.com) :Spending on outsourcing IT services is likely to increase next year in the face of weakening global economies, according to a poll of IT professionals. Of the 250 respondents from global companies, some 52 per cent said the impact of financial turmoil would prompt them to [...]
