Word: downturn
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...Well it was a tough year for us. When we first took office we were faced with high prices of raw materials and oil, followed by the financial tsunami and economic downturn. We took measures to rescue the banking industry. We also reduced the inheritance tax from 50% to 10%. That has had an affect on Taiwanese capital outside of Taiwan. In recent months, that capital has been coming back. We also distributed shopping vouchers to our citizens. That was a very successful program. We also will inject about $20 billion for public construction. (Read TIME's interview with...
...stays - but in a new role, as head of a new planning commission which will act as watchdog and overseer of all government departments. This is good. Manuel is widely respected inside and outside South Africa and is credited as the man who created the conditions, before the global downturn, for South Africa's economy to grow by close to 5% a year. Manuel has long complained that while he built government resources, other departments squandered them. Fifteen years since the end of apartheid, the big questions facing South Africa are less about how to improve race relations - though divisions...
...something happened on the way to the EaP's founding summit - namely, the global recession. Many of the countries worst hit by the economic downturn are the same 12 nations that have joined the E.U. since 2004, most from Eastern Europe. Now not only are those post-Cold War newcomers - who used huge inflows of European development aid to build up U.S.-style economies - most in need of more emergency funding to prop up their credit-dependent markets, but they are also viewed as migrant threats to other E.U. nations already facing escalating unemployment. Not surprisingly, such factors have fueled...
...year’s yield could even rise slightly above last year’s 78 percent once waitlist spots are offered, attributing the high figure to the College’s financial aid program, which the University has pledged to honor despite an “unprecedented economic downturn.” According to Fitzsimmons, the number of families who contacted the financial aid office to ask about financial aid doubled this year. Fitzsimmons said that even from early data, it is clear that the incoming freshman class will be the most socioeconomically diverse Harvard has seen. The fraction...
...With the high end of the property market in a downturn, other developers such as Unitech, Puravankara and Ansals are now eyeing low-income housing. ICICI Ventures, the venture funding arm for India's largest private bank, has a project underway in Pune. The apartments, which come in 450 sq. ft. and 800 sq. ft. versions, are priced...