Last Friday, for a third consecutive day, Wall Street plummeted. According to a Reuters report by Edward Kurdy, this was due to “worries about the Italian banking sector and Greece's debt crisis.” Despite this, the S&P 600 still had its “200-day moving average in a sign buyers still see value.” Still, all was not smiles… Continue Reading
Global Financial Crisis Ending It seems like the global financial crisis is coming to an end finally. The count of millionaires is increasing once more. According to the World Wealth Report, levels last year increased by 8.3 percent to 10.9m and America seems to home to a lot of these, ranking one percent of the… Continue Reading
Greece Causes Problems for Eurozone In a recent article, it was reported that Didier Reynders, Belgian’s Finance Minister, feels that Greece’s debt crisis is so bad that it could actually spread “as far as France.” He said that should Greece be the “first country to default,” people will start looking towards places like “Ireland, Portugal,… Continue Reading
Financial stability can trace back a long way, according to an article today in the Irish Times. Indeed, the September 2008 unilateral bank guarantee from Ireland was, according to EU commissioner Joaquin Alumnia, what “trigger[ed] subsequent EU-level actions to preserve Continent-wide financial stability.” Alumnia’s Criticisms Alumnia was addressing a group of bankers yesterday in Dublin… Continue Reading
Violence Emerges in Athens In an article by Louise Armitstead, it seems that Europe’s debt crisis is getting out of control in more than just financial ways. Just two days ago the Athens parliament was subject to a violent outburst while the capital’s politicians discussed “savage spending cuts.” The people outside were less than happy,… Continue Reading
Canadian Job Market Earlier this week, the parliamentary budget watchdog in Canada said that the “job reductions within the bureaucracy, as presently planned, won't be enough to meet austerity targets the Conservative government has established.” Budgetary plans for next year and the future were also reviewed. It was found that by fiscal 2014 an anticipated… Continue Reading
If Christine Lagarde – who was yesterday put on the shortlist to head the International Monetary Fund – succeeds, she will be “the first woman to head the global emergency lender.” She has a pretty good chance too, in the way she has been handling the world economic crisis until now. Once Dominique Strauss-Kahn handed… Continue Reading
World Bank economist Andrew Burns commented on America’s recent weak economic data, noting a significant slowing down of US economic growth. However he said that it was unlikely that the US would experience a “double-dip recession.” In terms of Europe, the recovery is somewhat stalling also vis-à-vis various crises in different areas, most notably Ireland… Continue Reading
Ofer Hi-Tech is a subsidiary of the Ofer Group. It was established in 1997. The Ofer Group, founded by Sammy Ofer , is now run by the Ofer brothers, Eyal and Idan. Sammy Ofer began the Group as a shipping company, and later expanded into the hi-tech, media, and real estate industries. Ofer Hi-tech was… Continue Reading
World Bank Revisions on Economic Growth Two days ago, the forecast for growth for the developing world was revised by the World Bank with a warning that there will be greater pressures on inflation due to the escalation in food and fuel prices. Currently, growth is down from last year’s figures so the advice by… Continue Reading