The Serbian government adopted on Thursday a program of measures to mitigate the adverse effects of the global economic crisis. The measures were put forward by the Ministry of Economy and Regional Development.
Posts Tagged ‘global economic crisis’
Skoda Auto reports record sales in 2010
January 7th, 2011 |
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Skoda Auto, the Volkswagen-owned Czech carmaker, said Thursday that its sales rose 11.5 percent in 2010 year-on-year, in what amounted to the firm’s new record. The firm said in a statement that it sold 762,600 cars last year compared to 684,200 cars in 2009. “In almost all markets, we have had significant growth and increased [...]
“Child poverty priority for Serbian government”
October 4th, 2010 |
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Serbia’s Minister of Labor and Social Policy Rasim Ljajić says the global economic crisis had increased the number of children living below the poverty line.
At the opening of the Children’s Week Ljajić told a news conference that the fight against poverty was a priority. The government currently uses 1.4 percent of the GDP to help the poor, which is less than what the surrounding countries use, Ljajić noted.
“Economic crisis not over yet”
August 20th, 2010 |
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President of the Serbian Chamber of Commerce (PKS) MiloÅ¡ Bugarin told daily VeÄernje Novosti that the global economic crisis is not over yet. This makes claims that Serbia has come out of the recession irrational, and added that salaries and pensions should not be unfrozen and value added tax should increase by 1.5 percent.
China Essence Group posts 186% rise in net profit to $6.3m for 4Q
May 25th, 2010 |
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China Essence Group, one of the leading integrated producers of potato products in China, says net profit surged in the fourth quarter (4Q FY2010) 2010 surged 186% to RMB30.1 million ($6.25 million) from RMB10.5 million in the previous corresponding period (4Q FY2009).
In 4Q FY2010, China Essence registered revenue of RMB204.3 million, a 15% increase from RMB177.1 million in 4Q FY2009, bouncing back from a challenging first half of calendar year 2009 (1H FY2010) where the global economic crisis took its toll.
Bulgaria: Measures to combat economic crisis
March 31st, 2010 |
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Bulgarian Prime Minister Boyko Borisov’s conservative cabinet on Wednesday introduced a package of measures to boost revenue. The measures are also designed to cut spending in order to combat the effects of the global economic crisis.
Lippo-Mapletree posts 2.1% rise in FY09 distributable income of $54m
February 9th, 2010 |
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Lippo-Mapletree Indonesia Retail Trust (LMIR Trust) says it achieved distributable income of $54 million for the year ended 31 December 2009 (FY 2009), 2.1% above the distributable income of $52.9 million recorded in the year ended 31 December 2008 (FY 2008). DPU for FY 2009 is 5.04 cents compared to 4.96 cents in FY 2008, up 1.6%.
Revenue was 14.2% lower year-on-year due to lower casual leasing, carpark and miscellaneous income as the portfolio felt the impact of the global economic crisis in the form of retailers reducing the amount of expenditure on promotional activities. In addition, the average Indonesian Rupiah (IDR)/Singapore Dollar (SGD) rate adopted in FY2009 was 5.4% weaker than the average rate adopted in FY2008. Had the average IDR/SGD rate adopted been at the same level as FY 2008, revenue in FY2009 would have been $4.3 million higher. However, LMIR Trust has entered into foreign exchange forward contracts to hedge income denominated in IDR into SGD.
SNS delegation attends United Russia congress
November 22nd, 2009 |
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A Serbian Progressive Party (SNS) delegation, led by its President Tomislav Nikolić, attended the 11th United Russia Congress in St Petersburg. The SNS delegation took part in a forum entitled “Social Responsibility of Political Parties During the Global Economic Crisis†on Saturday.
Possibilities endless for promoting Indo-Australian business ties: Rudd
November 12th, 2009 |
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According to the OECD, Australia is projected to have a lower deficit in 2010 than any of the Major Advanced Economies.
We also have the lowest debt of all the Major Advanced Economies, with government net debt projected to peak at 10 per cent of GDP in 2013.
Australia is globally acknowledged for our resilient banking system [...]
Toyota to quit Formula One: reports
November 4th, 2009 |
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Toyota Motor was expected to announce Wednesday it is quitting Formula One, joining an exodus of Japanese automakers from the multi-million dollar sport due to the global economic crisis. Toyota announced it would hold a briefing on its motorsports activities at 5pm (0800 GMT) Wednesday,
PM opens Serbian Economic Forum
November 2nd, 2009 |
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PM Mirko Cvetković says that he expected the economic growth in Serbia next year to be around 1.5 percent. He added that a return to a significantly higher growth rate, like the one from before the global economic crisis, was expected in 2011.
Poverty increases for first time in 10 years
October 19th, 2009 |
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For the first time in this decade, Serbia is facing a growing number of poor people, a conference in Belgrade heard today. This is in part due to the global economic crisis, Director of the Social Policy Studies Gordana Matković stated on Monday.
World Bank unveils $4.3bn in loans to India
September 23rd, 2009 |
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The World Bank on Tuesday announced $4.3 billion in loans to India, including $2.0 billion for the banking sector, to help strengthen its economy amid the global economic crisis. The World Bank said its executive board approved loans for projects in five countries, with the loans for India
Close to EUR 800mn state-subsidized loans
September 8th, 2009 |
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Over the past six months banks in Serbia have approved around EUR 791mn in subsidized loans. The Ministry for Economy and Regional Development’s data relates the period since the beginning of the implementation of the Serbian government measures for easing the effects of the global economic crisis.
Almost quarter of SMEs feel pinch
August 31st, 2009 |
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The global economic crisis is blamed for the business operations of 21.6 percent of small and medium-sized enterprises (SMEs) in Serbia being threatened. At the same time, around 14 percent of these companies have not felt any negative consequences, according to the results of research conducted by the Republic Agency for the Development of Small and Medium-Sized Enterprises and Entrepreneurship.
Vietnam English daily closes, blames global crisis
August 22nd, 2009 |
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A Vietnamese newspaper that helped expose a major corruption scandal announced on Saturday it was shutting down its daily English-language print edition, citing difficulties caused by the global economic crisis. In a front-page note to readers, Thanh Nien Daily said it was being
Lenovo makes third straight loss
August 6th, 2009 |
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Lenovo notebook on display in Hong Kong (file image)” border=”0″ vspace=”4″ hspace=”4″>
Lenovo, the world’s fourth largest personal computer maker, has reported a loss and says it has not seen the bottom of the economic downturn.
The Chinese company made a loss of $16m (£9.4m) between April and June, its third straight quarterly loss, compared with a profit of £110m a year ago.
The main reason was a big fall in sales, which fell to $3.5bn, down almost 20% from a year earlier.
The results were, however, better than analysts had expected.
"Lenovo showed strong progress this last quarter but we still face numerous challenges," said the company’s chief executive Yang Yuanqing.
But Mr Yang said that the downturn was making trading conditions tough.
"The global economic crisis continues to significantly impact our core commercial customers. We cannot say we have seen the bottom of the global downturn," he added.
Indeed the drop in sales was largely due companies reining in their spending.
"There’s little evidence of a pick-up in corporate spending, and that’s the biggest worry," said Edward Yen at UBS.
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Todd Moss: What can Africa Hope for During Clinton Visit?
July 31st, 2009 |
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Clinton, in choosing the largest economies and the continent’s most influential capitals, is likely to highlight more traditional US economic and security interests than Obama did on his Ghana trip.
EC: EUR 100mn in support to budget
July 31st, 2009 |
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The European Commission (EC) has granted EUR 100mn to Serbia’s budget, it was announced. This came in order to help the country’s economic recovery and reduce the consequences of the global economic crisis.
Sheldon Filger: U.S. Treasury Sweating Bullets over Financing Swelling Deficits
July 29th, 2009 |
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The warning is crystal clear. Before the onset of the current financial and economic crisis, the U.S. had structural deficits measured in the hundreds of billions of dollars.