Word: dollarize
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Dates: during 2000-2009
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...held by money managers). And while by no accounts does it dictate the airline's strategy, the government aids SIA in many ways. Tax breaks on the carrier's aircraft help SIA maintain one of the youngest fleets of any major airline. The government helpfully paid the multibillion-dollar construction cost of Singapore's impressive Changi Airport, the airline's hub since 1981 and one of the best airports in the world...
...economy seemed poised to weather the U.S. sub-prime crisis with relative aplomb. But, suddenly, something approaching panic has gripped the world's financial community. The headlines are grim. The U.S. housing slump is worsening. Banking giants such as Merrill Lynch and Citigroup are posting record losses. The U.S. dollar is getting pounded by the British pound - and virtually every other currency. Oil has run up as high as $98 per bbl., and gold - the traditional doomsday investment - has topped $800, its highest level since the early 1980s...
Such doubts are fueling a broader loss of faith in U.S. assets. Nowhere is this more pronounced than in the dollar's stunning decline. Since the start of 2006, it has plunged 24% against the euro and 18% against the British pound. But how big a problem is a weak dollar, and for whom? It might pain U.S. tourists shopping in cities like London or Paris. And it's a mounting worry for European and Asian manufacturers doing battle with U.S. exporters, whose products are made cheaper on the global market by a dwindling dollar. But for these U.S. manufacturers...
...have had a happy time in the financial markets, which have led to some considerable excesses which are going to have to be repaired. We’re going through that process right now.” Volcker expressed doubts about the strength of the US dollar. “A truly global financial and trade system depends upon a stable single currency. You can argue that the dollar has de facto provided that, but I think that what’s going on now raises some questions,” he said. He also offered a dig at current...
...more specific, buying it. In September another dizzying array of multibillion-dollar deals became public, notably Dubai's bid to acquire a 20% stake in NASDAQ, the high-volume New York City-based stock exchange known for its listing of star tech firms including Apple, Cisco Systems, Dell, Microsoft and Yahoo! Dubai's move demonstrates the fulsome financial power of a region possessing tidal liquidity--as much as $2trillion, by some estimates--built up by two years of oil prices topping $60 per bbl. "Nothing can stop them," says Hassan Heikal, CEO of EFG-Hermes, the region's leading...