In the first six months of this year China’s GDP grew by 7.1% on year-over-year basis as per the latest data released by the National Bureau of Statistics of China yesterday. Economic growth by quarters: 1st Quarter, 2009 : 6.1% 2nd Quarter, 2009 : 7.9% The main reason for the strong growth was the government’s …
There are no signs of economic recovery in-spite of some folks talking about green shoots for the past few weeks. The following chart about retail sales reinforces this point. Source: The Wall Street Journal Last month there was a minor upturn in auto sales after many months of drastic declines. And gas prices rose last …
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Photo: Arch de Triumph, Paris, France ITALY’S public debt hit a record E1.7522 trillion ($3.13 trillion) in May, the Bank of Italy reported on Tuesday. Italy’s debt reaches new record Russian millionaires are returning to the U.S. property market, lured by distressed sales and the ruble’s rise against the dollar, lawyer Edward Mermelstein said. Russian …
Back in April this year, the rating agency Crisil warned that gross Non-Performing Assets (NPA) of banks in India may reach 5% by 2011. Most of the rise in NPA will be due to problems with commercial loans. ICICI Bank’s (IBN) NPA stood at 4.33% in May a 1% increase over the previous year. The …
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On January 2nd this year, Stifel Nicolaus released a list of top U.S. bank choices for this year based on its research. The top bank choices were: BancorpSouth (BXS) City Holding (CHCO) Danvers Bancorp (DNBK) First Horizon (FHN) People’s United Financial (PBCT) TCF Financial (TCB) Stifel Nicolaus said: “Though not unscathed by the credit cycle, …
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