Filed Under (World Economy) by Fred Chan on 26-02-2009
Cheap currencies contributed to the region’s export-led recovery from the 1997/98 Asian crisis, but analysts note the current export slump has been caused largely by collapsing demand in the West, whose economies are slumping deeper into recession.
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Filed Under (Business News) by Fred Chan on 26-02-2009
Citigroup Inc is closing in on an agreement to boost the U.S. government’s stake in it to as much as 40 percent, the Wall Street Journal reported on its website, citing people familiar with the situation.- Reuters
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Filed Under (Business News) by Fred Chan on 26-02-2009
Reuters reported that Royal Bank of Scotland is set to post a record UK loss of up to 28 billion pounds ($40 billion) and unveil a far-reaching restructuring, and plans to limit further losses from risky assets on Thursday.
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