Moody's Investors Service on Monday lifted its ratings outlook for China to positive from stable on Beijing's financial strength as the country emerges from the global financial crisis, further reinforcing the recovery taking place in the world's third-largest economy.The upgrade for China was the first by a major ratings agency since the global crisis hit late last year and comes as confidence is...
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-- The 16-country euro zone unexpectedly swung to a trade surplus in September, underscoring analysis that global demand is fueling the region's economic recovery as domestic economy remains flat.The nation that use the euro had a combined surplus in their trade in goods of €3.7 billion ($5.54 billion), compared with a deficit of €2.3 billion in August, a figure that was revised from an originally...
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With inflationary pressures building up at the initial stages of recovery in the domestic economy, choosing the right time for withdrawal of the fiscal and monetary stimulus remains a major challenge for the policymakers, the Organisation for Economic Co-operation and Development (OECD) said today....
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COLOMBO:Finance Minister Pranab Mukherjee said India's large domestic demand helpedinsulate the country against the worst of the global crisis and the effort nowis to bring the economy back to 9 per cent growth."The Indian economy has shownremarkable resilience to the crisis because the financial system had no exposureto the toxic assets," Mukherjee said, adding policies were also in place toprevent...
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Finance Minister Pranab Mukherjee said India's large domestic demand helped insulate the country against the worst of the global crisis and the effort now is to bring the economy back to 9 per cent growth."The Indian economy has shown remarkable resilience to the crisis because the financial system had no exposure to the toxic assets," Mukherjee said, adding policies were also in place to prevent build...
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COLOMBO: Finance Minister Pranab Mukherjee said India's large domestic demand helped insulate the country against the worst of the global crisis and the effort now is to bring the economy back to 9 per cent growth. "The Indian economy has shown remarkable resilience to the crisis because the financial system had no exposure to the toxic assets," Mukherjee said, adding policies were also in place to...
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World Bank has upped its 2009 growth forecast for China from 7.2% to 8.4%, but says the nation needs to encourage more consumer spending.The Washington-based body also raised its projection of 2009 GDP growth in East Asia as a whole to 6.7% from 5.3%, thanks to China's strong growth.And it said China, boosted by a recent stimulus plan, must move away from an industry and investment-based economy."The...
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government will watch its step as it rolls back tax breaks and other incentives announced last year to help the economy tide over the blow of a worldwide recession, linking their exit to growth in the domestic economy in the coming months, Finance Minister Pranab Mukherjee said here on Friday.He also signalled that the country’s most ambitious tax reform initiative—a comprehensive nationwide uniform...
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Even though India braved the global financial crisis better than other countries, a meaningful recovery depends on how quickly some key economies turn the corner, Finance Minister Pranab Mukherjee said Friday.By merely generating demand in the domestic economy and exploring markets for exports, it is not possible to have a sustainable recovery, Mukherjee told the annual Hindustan Times Leadership summit...
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Even though India braved the global financial crisis better than othercountries, a meaningful recovery depends on how quickly some key economies turnthe corner, finance minister Pranab Mukherjee said on Friday."Bymerely generating demand in the domestic economy and exploring markets forexports, it is not possible to have a sustainable recovery," Mukherjee told theannual Hindustan Times Leadership summit...
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