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Australia's current account deficit stretched to a record 11.6 billion Australian dollars (US$7 billion) from the impact of the drought, slow global growth and a high demand for imports, official figures showed Monday.
THE WORLD#8217;S fragile economies may be tested to the hilt and could be faced with greater uncertainty even if the US-led forces achieve a quick victory in Iraq, economists said yesterday. A prolonged war, meanwhile, #8220;guarantees recession#8221;.
With the start of US-led military action against Iraq, strategists are leaning on history to navigate investors through the uncertain times ahead.
Australia, until recently one of the fastest growing developed economies, faces tougher times ahead as its currency rampages higher and exports flounder.
HWANG-DBS Unit Trust Bhd (HDBSUT) expects its two new funds, Hwang-DBS Select Balanced Fund and Hwang-DBS Select Bond Fund, to generate sales of RM50mil to RM100mil by the end of this year, said advisor Teng Chee Wai.'We are quite confident of reaching close to these numbers during the initial offer period of 21 days,' he said.
THE capital market, comprising equities and bonds, is projected to further expand in line with the stronger economy in 2004.
ADVANCED countries registered anaemic growth earlier this year due to the moribund IT sector, weak equity markets, soft labour conditions, low capacity utilisation, terrorism concerns, as well as deflationary risks in Japan.
ASIAN bankers and policy makers have been warned that another financial crisis more devastating than the one in 1997/98 could hit the region if past lessons remain unheeded and the large foreign capital inflows that are returning to Asia evolves into an economic bubble.
Second Finance Minister Datuk Dr Jamaluddin Jarjis said Malaysia's economy could surpass this year's projected 4.5% growth owing to the present upbeat global economic scenario.
A FEW months ago, a fund manager and an analyst paid a visit to the management of OYL Industries Bhd. The fund was contemplating selling its OYL shares after making a decent profit, but on hearing about the prospects of the company, it decided to hold on to the shares.