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· October, 2008

Stories about Economics & Business from October, 2008

Ukraine: Update on the Economy and Politics

  31 October 2008

Leopolis explains in detail the current economic and political situation in Ukraine: “The stakes are high: Ukraine's economic health, its image for international investors, and a risk of default. Just as the Ukrainian stock market has seen 75% of its value wiped away, the current political crisis may undo every...

Sri Lanka: Tea industry in crisis

  31 October 2008

Serendipity reports that the Sri Lankan tea industry is in crisis because the international buyers of tea have stayed away from the auctions due to credit crunch.

Japan: Thoughts on Itochu trading scam

  31 October 2008

On October 10th, Itochu Corporation announced that it had paid close to one hundred billion yen in false transactions valued at nearly 100 billion yen to Mongolian suppliers for construction machinery and materials. One blogger and chartered accountant offers their thoughts on what happened inside Itochu.

Trinidad & Tobago: The Price of Progress

  30 October 2008

Maximilian Forte, writing at Review of the Indigenous Caribbean Center, posts a video of Trinidadian calypsonian King Austin's song Progress, which he calls “a critique of the ideology and practice of progress, from the vantage points of environmental unsustainability, exploitation, inequality, and the resultant social strife.”

Bangladesh: Banks dominate in DSE listings

  30 October 2008

Bangladesh Corporate Blog analyzes the capital market of Bangladesh and finds that banks dominate 11 of the top 20 spots of listed companies in the Dhaka Stock exchange (DSE). The blog opines that: “(the) domination of banks goes to show that the SEC (Security and Exchange Commission) has failed miserably.”

Kazakhstan: Blocked Bloggers Discuss Economics

  30 October 2008

Although LiveJournal, the major blog platform on the post-Soviet space, including Kazakhstan, is still not accessible through the national telecom monopolist Kazakhtelecom, Internet enthusiasts find their way to express their opinions online. The main topic – as, probably, elsewhere these days – is economics.

Recession hits Singapore

  30 October 2008

Singapore is a major financial center in the world. It is also one of the richest countries in Asia. Unfortunately, it is not immune to the economic aftershocks caused by the Wall Street crash and the global financial crisis. Singapore’s economy is down today, the first Asian country to be hit by a recession.

Trinidad & Tobago: Not Adding Up

  29 October 2008

“Last month the record 2008-9 budget of nearly TT$50 billion was based on an assumed oil price of $75 a barrel. At the time, the price was well above that. A month later, it’s below $64. So even the richest economy in the Caribbean either has to make some serious...

Bermuda: Gambling with the Future?

  29 October 2008

As the government considers introducing internet gaming to the island, both FreshieBlog and Vexed Bermoothes think that it is a bad idea, saying that it “could taint Bermuda’s reputation as a serious business jurisdiction.”

Japan: Refunds from Saizeriya

  29 October 2008

News that Saizeriya [ja], a Japanese restaurant chain offering low-cost Italian food, is offering refunds for people who ate pizza with melamine-tainted dough — without asking for receipts — has sparked some people who never ate any of the tainted dough to take up the restaurant's offer anyway [ja]. At...

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