WASHINGTON - A reminder that the path to an economic recovery will be a slow and bumpy one emerged Friday from weaker-than-expected data on durable goods orders and new home sales.The reports "are a wake up call for anyone expecting a smooth transition to a strong economic recovery," said Paul Ashworth, senior U.S. economist for Capital Economics.
Real I.S. AG has re-entered the Belgian investment market after an eight-year absence by purchasing the brand new Ernst & Young headquarters for ca. €35 million in Diegem, Brussels. The new building was sold by UK developer SEGRO and marks an important deal for the Belgian investment market during 2009.
Dubai Port World, a Gulf Arab government holding company, said on Friday it had created two senior posts as part of efforts to streamline operations during the financial crisis. A statement said Jamal Majid Bin Thaniah had been appointed as group chief executive officer and Maryam Sharaf as group chief operating officer at the holding company of the government of Dubai, an emirate of the United Arab Emirates.
World wide economic crisis and policies implemented by some latinamerican countries make investors in port industry to withdraw, according to Rafael díaz-Balart, Latin American coordinator for American Ports Asociación (AAPA in Spanish).John Price, general manager of Kroll, calculated a 34% drop in business with Latin America, which led several governments to stop proyects of port facilities.
Journal, CNN and others - as well as thumbing through countless books on professional advice - here is a summation of all I have learned:Careers are built on two things - your skills and your relationships with people.That's it.
Financial Times says that Europe is searching to recruit engineers in India and China or other emerging markets due to the lack of professionals Europe will suffer. There is a skill shortage in European companies. An example of this are the 40,000 engineers produced in Germany against the 400,000 in China.
According to Glenn Somerville and Paul Carrel from Reuters, World Readers will agree to continue working together when their massiv economic stimulus programs end at their next meeting in Pittsburgh. They want to restraint on the "bonus culture" of banking by proposing new rules to apply to any banker able to take risk that could imperil an institution and that will also mean to extend regulation to all important financial institution.
Joe Leahy in Mumbai informs that State Bank of India is seeking acquisitions in the UK as the country's banks emerge from the global economic crisis in good shape and looking to expand their international businesses and in order to maintain their 40 per cent rate of growth in the UK.
According to Financial Times the recession and high fuel costs have forced airlines to use their loyalty schemes as potential source of funds, such as Delta did last year with American Express. Airlines would prefer to continue using their very profitable mile programs.
Reuters informs that Venezuela signed a three year $16 bn investment deal with China to rais oil output by several hundred thousands barrels per day, just a week after this country and Russia formed a joint venture to develop the Junin 6 field with a $20bn investment, that, according to Hugo Chávez will produce up to 450,000 bpd