Word: dollarized
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...reason for that is clear enough. At a time of extreme stress in global-equity and credit markets, many governments have surplus foreign exchange to play with--and because of the falling U.S. dollar, they are increasingly interested in investing their cash where it can earn greater returns than it would from U.S. Treasury debt, the traditional haven. The largest SWFs--the so-called Super Seven, comprising China, Russia, Abu Dhabi, Kuwait, Norway and two Singapore funds--control up to $1.8 trillion. By 2011, assets held by SWFs worldwide are projected to grow almost fourfold, to nearly $8 trillion...
...well below capacity for a number of years, so it came as no surprise when they announced plans to move production to Venezuela and Mexico, respectively. Unfortunately, Collingwood's tale of economic woe is being repeated in communities across Ontario and Quebec--Canada's industrial heartland. "A high Canadian dollar is an absolute killer," says Peter Nygard, chairman of Nygard International Ltd., a manufacturer of women's clothing in Winnipeg, Man., whose $1 billion in annual revenue comes largely from...
...described this as the fourth boom cycle in my lifetime in Louisiana. We had an oil boom, a gambling boom, and a health care boom. Whether this is being caused by the hurricane recovery or the oil and gas economy, it's another boom. There's over a billion-dollar surplus. The last three times there was a boom cycle, Louisiana in general invested those dollars in instant gratification. We didn't make investments in cutting taxes and investing in education. We didn't make the kinds of reforms we needed to make. Now we've got a chance...
...another sequel in the works to celebrate the most unnecessary use of spin-off in the history of animated feature films. 3. Mary-Kate and Ashley Olsen They got their start playing the same person on “Full House” and built a multi-million dollar empire based on the fact that they were twins. But as they entered adulthood, the twin duo decided to go their separate ways and pursue their own interests. Now going by the individual identities of Ashley Olsen and Mary-Kate Olsen, it’s possible to see the same lovely...
...company has also been buffeted by external winds. India's currency has appreciated 12% against the dollar this year, hitting profits, and the subprime-mortgage crisis is forcing U.S. banks, among Infosys' biggest customers, to tighten their belts. Infosys has handled those problems by increasing salaries, boosting currency hedging and shifting its focus slightly to Europe and developing markets like South America...