Word: daiwa
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...empty ships lie idly at anchor just outside the territorial waters of Singapore, the world's busiest port. "The pile up of ships in the Straits is a reflection of the collapse in trade until the early part of this year," says P.K. Basu, Asia economist for the Daiwa Institute of Research. Mirroring that drop is the Baltic Dry Index, which tracks the average cost of shipping a container of goods. It has plummeted more than any stock market, from a peak of 11,000 in mid-2008 to roughly 2,600 today...
...Drawing a comparison with Social Security in the U.S., where one's money is often locked up until retirement, P.K. Basu, Singapore-based Asia economist at Daiwa Institute of Research, says, "Individuals really own their savings in Singapore. You get to use what...
...return the government also made certain the billions that flowed in the form of foreign investments and corporate taxes was plowed into public housing, health care and public education. "Now the government is using some of its enormous wealth to mitigate the pain for its citizens," says Daiwa's Basu. Welcome news to everyone in Singapore, no doubt, except for those hoping for shorter lines into the city's hottest bars and restaurants...
...Nikkei hit rock bottom on Oct. 27 at 7162, and some of the more bullish market analysts say it won't see that level again. But as corporate profitability continues to plummet and the global economy worsens, stock-market analysts are waiting for a catalyst. Tsuyoshi Nomaguchi, strategist at Daiwa Securities in Tokyo, says Japan's stocks are not comparatively cheap but are in the "attractive zone," and once recovery measures in the U.S. take effect in the middle of 2009, Japan's stock prices will rise on anticipation of economic growth. "Japan is falling behind [other nations] in implementing...
...best known for refrigerators and batteries. "Talking about the environment doesn't send a good message to the old-timers who made Sanyo what it is," says Hideyo Waki, a business professor at Tokyo Denki University. It was even harder to persuade investors like Goldman Sachs and Daiwa Securities, which had sunk billions of dollars into a Sanyo turnaround, to be patient. Saddled with $3.4 billion in long-term debt, Sanyo only had the resources to restructure, not revolutionize...