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Why Asia stays calm in the storm

Posted by seumasach on October 29, 2008

 

 

Kishore Mahbubani

FT

28th October, 2008

What does the Asian silence on the financial crisis really mean? Does it mean silent gloating, with a heavy dose of schadenfreude? Does it signify terror that Asian economies will also be blown away? Or does it reflect a sober calculation that calm and steady heads are required in such a storm? Amazingly, in the thousands of words spun in the incestuous western discourse on this crisis, little attention has been paid to Asian views, even though the calm and steady responses of China, India and Japan, the three anchor Asian economies, provide hope that there may be some pillars of stability in the swirling storm.

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In wake of U.S. attack, Syria shuts down American institutions

Posted by smeddum on October 29, 2008

In wake of U.S. attack, Syria shuts down American institutions
γαρ | 28.10.2008 18:13 indymedia

The Syrian cabinet decided on Tuesday to shut down an American school and an American cultural center in Damascus, the Syria’s official SANA news agency said, two days after a U.S. military raid in Syria. Syria said the Sunday helicopter strike on the village of Sukkariyeh, five miles (8 kilometers) from the border with Iraq, killed eight civilians.. Read the rest of this entry »

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Election memorabilia goes to the dogs and provides poll

Posted by smeddum on October 29, 2008

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Hedge funds and VW: what a pile up!

Posted by seumasach on October 29, 2008

Robert Peston

BBC Blogs

29th October, 2008

If ever there were a country and a people that signalled their distaste for hedge funds, private equity and the self-defined alternative investment industry, that country and people were Germany and the Germans.

A VW TiguanIt was this famous quote of April 2005 to the German popular newspaper, Bild, by the then Deputy Chancellor of Germany, Franz Munterfering, that didn’t exactly represent a “come-in-and-make-yourself-comfortable” message to the rocket scientists of financial services:

“Some financial investors spare no thought for the people whose jobs they destroy. They remain anonymous, have no face, fall like a plague of locusts over our companies, devour everything, then fly on to the next one.”

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Iceland may reconsider EU membership

Posted by seumasach on October 29, 2008

Winninpeg Free Press

27th October, 2008

HELSINKI, Finland – Iceland’s business affairs minister says his country should reconsider applying for membership in the European Union and joining the common EU currency to help in future financial crises.

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PMs from Shanghai group to discuss global financial crisis

Posted by seumasach on October 29, 2008

MOSCOW, October 29 (RIA Novosti) – The prime ministers of Russia, China, and four Central Asian countries will meet on October 29-30 in Kazakhstan’s capital to discuss measures to overcome the ongoing financial crisis, the Kremlin press service said on Wednesday.

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PM Putin suggests Russia, China ditch dollar in trade deals

Posted by smeddum on October 29, 2008

Russia
PM Putin suggests Russia, China ditch dollar in trade deals
15:23 | 28/ 10/ 2008 Novosti

MOSCOW, October 28 (RIA Novosti) – Russian Prime Minister Vladimir Putin proposed on Tuesday that Russia and China gradually switch over to national currency payments in bilateral trade, expected to total $50 billion in 2008. Read the rest of this entry »

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Pound in free fall and traders say there’s no way to stop the plunge

Posted by seumasach on October 28, 2008

Helen Power

Times

28th October, 2008

The pound plummeted close to a six-year low yesterday. The currency’s losses in recent months now mirror its demise after Black Monday in 1992, when John Major pulled Britain out of the exchange-rate mechanism and destroyed the Conservatives’ reputation for economic management.

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Brown looks to China for crisis funding

Posted by seumasach on October 28, 2008

Since it is generally recognised that the US/UK control the IMF, this is tantamount to asking for a free give from China. I would be very surprised and dismayed if they fell for this one.

ABC News

29th October, 2008

British Prime Minister Gordon Brown has called on China and cashed-up Gulf oil producing states to give more money to the International Monetary Fund to help fight the global credit crisis.

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Putin to rescue Deripaska over $2.5bn loan

Posted by alfied on October 28, 2008

Oligarch at heart of Tory funding row gains Kremlin support in repaying banks that backed Norilsk stake

By Mark Leftly (Independent)
Sunday, 26 October 2008

Russian Prime Minister Vladimir Putin will bail out Oleg Deripaska, the oligarch at the centre of the “yachtgate” affair, with a $2.5bn (£1.6bn) loan refinancing this week. Read the rest of this entry »

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Arab League slams U.S. raid inside Syria

Posted by smeddum on October 28, 2008

Arab League slams U.S. raid inside Syria

China view

2008-10-28    CAIRO, Oct. 27 (Xinhua) — The Cairo-based Arab League (AL) on Monday denounced a U.S. air strike on Sunday inside the Syrian territories that killed eight Syrian civilians. Read the rest of this entry »

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