Word: sectoral
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...Finance Minister Shoichi Nakagawa made the case for using public funds to stabilize the financial sector following similar moves by the U.S. and Europe. Japan's national banks are considered to be in much better shape than counterparts in the West. But after the recent failures of Yamato Life Insurance Co., one of the country's major insurers, and New City Residence Investment Corp. a real estate investment trust (REIT), government officials are pushing to reactivate the law as a precautionary measure. "Huge storms are coming to Japan from abroad," says Masaaki Kanno, chief economist at JPMorgan Securities Japan...
...throwing a lifeline to their banks, European governments are insisting these institutions resume their stalled lending to businesses and individuals. But it's clear that even if all goes according to plan, the sort of carefree dishing out of credit that marked the financial sector - and which both underlay the banking crisis and helped to propel Europe's economies - is history. "There won't be a return," says Jean-Marc Franceschi, a banking specialist at law firm Hogan & Hartson in Paris. "It will never be like it was before...
...sheep" are the same. But under Iceland's current economic conditions, goes a joke doing the rounds, only one will put food on the table and a coat on your back - as long as you eat mutton and wear wool. With a flagging currency and a crippled banking sector, Icelanders are fast losing their jobs, savings and businesses. The government fears that some may even be losing their minds: the Icelandic Ministry of Health has set up an emergency mental-health center in downtown Reykjavík to help citizens distressed by the country's economic implosion. Located...
...School professors Herman B. “Dutch” Leonard ’74 and Allen S. Grossman moderated a session on the future of social enterprise.Panelist Andrea Silbert ’86, president of the Eos Foundation, a private philanthropic organization, traced the development of the social sector.“When I graduated from HBS 16 years ago, there was no term called ‘social enterprise,’” Silbert said. “It was called the nonprofit sector. I was considered on the fringe and not a part of mainstream...
...compared to those faced by its newfound Latin American ally. In an electoral year, Chavez is eager to regain popular support, but the oil-producing country has contracted its growth forecasts due to lack of investment. As inflation reaches over 30 percent per year, the government has increased public sector salaries, a populist move that will only worsen inflationary pressures. Despite the sky-high oil prices, Venezuela is not able to grow its production because the government has used all the money for clientelist programs, rather than securing future investment. Unsurprisingly, less than two years after Chavez?...