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) Moody's: Industrialisation, Price Boom Boost Malaysia's External
KUALA LUMPUR, Oct 3 (Bernama) -- Malaysia's external strengths have grown over decades of rapid export-led industrialisation, and more recently, because of the ongoing commodity price boom, said Moody's Investors Service. "As a result, total external trade represents 212 percent of gross domestic product, making Malaysia one of the most open economies in the world, behind Hong Kong, Singapore and Luxembourg," it said in its annual report on Malaysia. Moody's vice president, Aninda Mitra, said ample balance-of-payments surpluses continued to provide Malaysia with a remarkably strong external liquidity cushion that forestalls downside risks to the sustainability of its external or public debt burdens. Going forward, Mitra said, the external sector could, however, continue to diminish in importance as Malaysia's export-oriented electronics industry matured structurally. More>> - (
) Canetic to Buy Titan for $116 Million
Canetic Resources has entered into a pre-acquisition agreement with Titan Exploration Ltd. pursuant to which Canetic will make an offer to acquire all of the issued and outstanding shares of Titan in exchange for 0.1917 of a Canetic trust unit for each Titan Class A Share (TTN.A) and 0.6609 of a Canetic Unit for each Titan Class B Share (TTN.B).The total transaction value is approximately $116 million, including Titan's net debt of approximately $17.5 million. It is expected that approximately 6.5 million Canetic Units will be issued to effect the acquisition.
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) Sub-Prime Lending Mess Not Technology’s Fault
Experts say technology and good decision-making go together in avoiding loan risk.
By Maria Bruno-Britz
Bank Systems & Technology
September 20, 2007
It has been front-page news for months -- the mortgage meltdown is threatening the U.S. economy. As lenders of all sizes face scrutiny over risky lending practices, questions remain about how technology could have been used to soften or prevent the sub-prime lending mess.Some experts say the crisis was inevitable. Ted Landis, a Phoenix-based senior executive in Accenture's financial services group, says the signs of a looming meltdown in the market have been evident since the introduction of sub-prime lending a decade ago. "It has been a developing story since the late '90s," he contends. More>>
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) new global crisis, war, wealth: China, America, finance, trade, politics, jobs, law, peace
Why is globalization loaded with crisis? What is the next world finance, trade, jobs, outsourcing, politics map? Are China, India altering global map? Talk to 3 thinkers Chalmers Johnson, George Zhibin Gu, Andre Gunder Frank. 4 provocative books that can change your mind in 2007 about the geo-politic and geo-economic dynamics going on Interviews by Jorge Nascimento Rodrigues, editor of Gurus online. tv George Zhibin Gu, author of two new books, "China's Global Reach" and "China and the New World Order" Chalmers Johnson, author of "The Sorrows of Empire" Andr� Gunder Frank, author of the forthcoming "ReOrient the Nineteenth Century" (a sequel of his 1998's "ReOrient") FIRST STORY A view from an insider George Zhibin Gu CHINA IS BECOMING A GLOBAL THEATER "A new power balance will emerge gradually and most likely indirectly" INTERVIEW First idea: "Today, most Chinese would prefer to be the one just following the leader. More>> - (
) Nigeria: Country Considers New IMF Programme
Nigeria is considering a new programme with the International Monetary Fund (IMF) after the current one, Policy Support Instrument (PSI), expires later this month, Finance Minister, Dr. Shamsudeen Usman, said yesterday. Usman who made this known at a lecture he delivered at the London School of Economics and Political Science, said that the fourth and final review of IMF's two-year PSI would be next Monday. . More>> - (
) Auburn schools bank on boiler efficiency
AUBURN - School officials will try to leverage higher efficiency to help pay for new heating systems at four area schools.
Representatives from the Auburn School Committee presented their capital improvement budget to city councilors Monday. It includes new boilers for Auburn Middle School and the Fairview, Sherwood Heights and Walton elementary schools.
The capital spending plan calls for $400,025 in bonded debt to pay for the new boilers. That's about 40 percent of the cost. Tom Morrill, interim Auburn school superintendent, said boiler manufacturer Siemens USA has agreed to let the school department pay the remaining $637,675 over the next 10 years.
Morrill said the school expects to save at least that much for the next 10 years because the boilers are more efficient. More>> - (
) Analysis: Vladimir Putin raises the stakes over missile defence
Vladimir Putin has raised the stakes today in his poker game with George W. Bush over missile defence in eastern Europe. By threatening to tear up a key nuclear agreement, Mr Putin has challenged Mr Bush to weigh his planned missile shield against the value of relations with Russia.His calculation is that a weakened president lacks the political capital in the United States to press ahead with the programme before his term expires next year. Russia's gamble is that a change of administration in the White House will scupper the project entirely.
Mr Putin's manouevres, meanwhile, bolster his support among ordinary Russians, who enjoy seeing their leader standing up to the West. The US knows too that, by becoming Prime Minister after leaving the presidency next March, Mr Putin will be around long after Mr Bush has retired. More>>