The Russian economy will contract by 5.5% in 2009, while GDP will fall by 3% in Kazakhstan and 15% in Ukraine, according to estimates by investment bank Goldman Sachs.
Bank has reduced the forecast growth from Russia, Kazakhstan and Ukraine, as the global outlook continues to deteriorate, says Bloomberg.
The three countries “have suffered on the background [...]
The Economy in the European Union contracted in the last quarter of 2008 by 1.5% compared with the similar period in the previous year, according to data from the European Statistics Institute – Eurostat.
The report of the previous quarter, gross domestic product in the EU-15 decreased by 1, 6%. Throughout the building community, the economy [...]
According to a recent statement by Barack Obama, humanity needs new financial rules to prevent abuses in the future. Obama admitted, more or less directly, that the current global financial system is rotten and corrupt and that it requires a change from the groundup to avoid the emergence of new crises.
”The world needs a [...]
The G20 summit decided yesterday in London on a considerable increase of international resources to financial institutions to combat the recession, establishing what the British Prime Minister Gordon Brown called the appearance of “a new world order”.
Leaders of the main economy’s met to “face the greatest challenges in the world economy occurred in modern times”, [...]
Presenting economic forecasts for its member states in Berlin, the OECD predicted that significant growth in GDP would only start in the second half of 2010.
On the background of economic crisis, experts expect the possible increase of unemployment in the OECD area up to 8 million people. Current recession, which affects many Member States [...]
Germany made the first step toward HRE bank nationalization, by taking equity of 9%. German government made the first step in taking control of the bank building HRE, which had been previously announced, after the bank posted losses of nearly 5.5 billion euro in 2008.
Waited for several weeks and imminent after the Friday announcement that [...]
