Word: sumitomos
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...major currencies, including the euro and yen, has fallen about 15% from a three-year high reached in March and is now hovering near a 14-month low. Economists and analysts expect the dollar to lose a lot more ground. Daisuke Uno, chief strategist at Japan's banking giant Sumitomo Mitsui, believes the Japanese currency could strengthen to 50 yen to a dollar by 2011 (from around 90 today) due to continued weakness in the U.S. economy. Harvard historian Niall Ferguson says the dollar could slide by as much as 20% on a trade-weighted basis over the next...
...bank shares in 21 years and the latest sign that the global economic crisis is spreading further into Japan's financial system. Mitsubishi UFJ and Mizuho Financial Group, Japan's second largest bank, led the fall with shares dropping 15%, followed by an 11% drop in the shares of Sumitomo Mitsui Financial Group, Japan's third-largest lender...
...that affect the people who have been left behind. This kind of contribution takes the brainpower that makes life better for the richest and dedicates some of it to improving the lives of everyone else. Some pharmaceutical companies, like Merck and GlaxoSmithKline, are already doing this. The Japanese company Sumitomo Chemical shared some of its technology with a Tanzanian textile company, helping it produce millions of bed nets, which are crucial tools in the fight to eradicate malaria. Other companies are doing the same in food, cell phones and banking...
...Investors' newfound interest in north Vietnam can't be explained just by simplified commercial procedures. The north has a number of advantages over the south, including lower wages, cheaper real estate and a nearby port that is less clogged than Saigon's. Sumitomo, the Japanese real estate giant, first looked to the south when it was planning to build a Vietnamese industrial park in 1997. But after comparing Saigon's infrastructure and labor costs, the developers chose Hanoi instead, and the gamble paid off. The first two phases of Sumitomo's 300-hectare Thang Long industrial park in Hanoi sold...
...Andrés Velasco, the Sumitomo professor of international development at the Kennedy School of Government, will serve as finance minister of Chile under Michelle Bachelet’s new government...