InfoAnda - South Korea says may cut 2009 growth forecast

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Iran bids to draw line under disputed election | 1 July 2009
Washington Post, Bloomberg launch news service | 3 October 2009
Gaston, Marve come through as Purdue tops OSU in overtime thriller | 13 November 2011

Florida Radio Station Employees Find Out Health Care Plan Is Missing The Hard Way | 24 July 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : South Korea says may cut 2009 growth forecast

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: South Korea says may cut 2009 growth forecast Reuters - 2 hours 12 minutes ago By Seo Eun-kyung and Cheon Jong-woo SEOUL, Dec 2 - South Korea said on Tuesday it may need to lower its 4 percent economic growth forecast for next year amid a global recession, stoking fresh speculation for an aggressive interest rate cut by the central bank next week. A central bank official also said Asia's fourth-largest economy would grow by less than 3 percent in the fourth quarter from a year ago, for the first time since the first three months of 2005, while the Bank of Korea revised down third quarter gross domestic product figures. "We need to think about growth in line with external factors...Given recent factors, it will be difficult to achieve four percent," Deputy Finance Minister Noh Dae-lae said in an interview with a local radio. In November, Finance Minister Kang Man-soo said growth in 2009 would be able to reach 4 percent aided by various government stimulus packages. But the projection is too optimistic, analysts and international bodies say. Last month, the International Monetary Fund slashed its 2009 economic growth forecast for South Korea to 2.0 percent from 3.5 percent. The deputy minister's remark bolstered hopes again that the Bank of Korea would cut interest rates next week and continue cutting. Analysts said a 41-tick spike up in December Treasury bond futures by 0137 GMT was evidence of rate expecations. "With signs of easing inflation, the central bank will likely move actively, bringing the rates down to 3 percent until the first quarter. In December, we project a 25-basis-point cut for now," said James Lee, an analyst at JPMorgan Chase said. The Bank of Korea has lowered its benchmark rates by 125 basis points to 4.00 percent in a series of unprecedented moves since October aiming to pull up a deepening downturn. JPMorgan projected the economy would lose much of its growth pace next year, with the growth rate seen slipping to 1.5 percent from its forecast of 4.1 percent this year. MORE DOWNTURN The worst global economic downturn in decades is likely to keep denting the export-driven country, making meeting the Bank of Korea's 4.4 percent growth projection for 2008 look unlikely. "To achieve the 4.4 percent growth projected last summer, the economy should grow faster than 3 percent in the fourth quarter but this may not be the case," Jung Yung-taek, head of national income team at the Bank of Korea, told reporters. The Bank of Korea's official growth forecast for this year was 4.6 percent, but the central bank internally revised it down to 4.4 percent, another central bank official said. The central bank is scheduled to announce its 2009 economic growth forecasts next week. With more gloomy remarks from officials at the government and the central bank, the won currency fell up to 2.9 percent and Seoul shares <.KS11> dropped as much as 4.85 percent. Meanwhile, the Bank of Korea said South Korea's economy grew a seasonally adjusted 0.5 percent in the third quarter, below the central bank's earlier estimate of 0.6 percent. [ID:nSEW000023] That is the slowest since a 0.5 percent rise in the third quarter of 2004. It follows quarterly growth of 0.8 percent both in the first and second quarters of 2008. The central bank's revised data also showed gross domestic product in the third quarter expanded by 3.8 percent from a year earlier, missing the previous estimate of 3.9 percent published on Oct. 24. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Australia slashes interest rate to avert recessionAP - 20 minutes ago India Hot Stocks: M&M, Tata Motors down on Nov sales dropReuters - 30 minutes ago India's Tata Motors to close Pune plant for 3 daysReuters - 32 minutes ago Indian shares open 3.44 pct down on global fallsReuters - 34 minutes ago NZ dollar lower on stocks plunge; bonds firmReuters - 36 minutes ago Most Popular – Business Viewed Wall Street plunges as recession becomes reality World AIDS Day highlights big challenges 20 years on Saudi king says 75 dollar oil price 'fair' Love handles increase death risk: study World's oldest person dies at 115 years View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Monday, 1 December 2008
Three Nobels launch prize for Spanish-language woman writers
US to use Web 2.0 to win "war of ideas": US image-maker
Paris auction of Impressionist works falls short
Films on 'Che' Guevara top Latin American film festival
'Four Christmases' tops record holiday box office charts
French first lady becomes global AIDS ambassador
Britney Spears is queen of Yahoo searches in 2008
Iraq: Key figures since the war began
007's amphibious Lotus fetches 110,000 pounds at auction
Raconteurs call on Ricky Skaggs for new recording
Australia says Qantas to stay 51 pct locally owned
Ultra-Orthodox websites thrive after Mumbai tragedy
Mumbai attack puts focus on Pakistan militant link
China: 6 babies may have died from tainted milk
Bedroom Bach? YouTube starts a cyber symphony
Former Wallaby rugby boss Jones slams 'crazy' England
Britney Spears tops Yahoo searches
Mumbai returns to life after attacks
India demands strong action from Pakistan
`Cadillac Records' plays song you've heard before
Singapore shares open lower led by Wilmar, properties
Iraq: Bombs kill more than 30 in Baghdad, Mosul
India demands Pakistan act decisively on Mumbai attack | International |
Sweden to come to rescue of struggling carmakers Saab and Volvo
South Korea ends Iraq deployment, troops head home
Staff suspended over child abuse case that shocked Britain
Canada opposition signs deal to defeat government | International |
Iraq bloodshed leaves several dozen dead
Wall Street plunges as recession becomes reality
Sanyo to launch new electric hybrid bicycle
Bomb kills one at Thai airport; court hears key case | International |
France calls for urgent EU talks on DR Congo force
Bomb attacks near Iraq police acadamy kill 15
Mixed picture for retailers as US holiday season opens
Interpol taps into the YouTube generation
Chavez launches new bid for reelection | International |
Suicide blast kills 10 in Afghanistan
Venice suffers worst flooding in 22 years
Aer Lingus rejects 748-mln-euro bid from Ryanair
Israeli warships block Libyan aid boat near Gaza
Ten wounded in train bomb blast in India Assam state | International |
Aer Lingus rejects new Ryanair bid
Taliban attack on NATO trucks depot in NW Pakistan kills two
Governments tackle HIV stigma on World AIDS Day
U.S. to press NATO for Georgia, Ukraine boost | International |
Obama picks Clinton for secretary of state
Jewish settlers and Palestinians clash in Hebron | International |
AVA lifts ban on Julie’s biscuits
US cruise line confirms pirate attack off Somalia
Obama to formally name Clinton secretary of state
Earthquake rattles Taiwan, no reports of damage | International |
Chinese media says 20 people killed in road crash
NZ dollar lower on stocks plunge; bonds firm
Hawkish Obama names Clinton as top diplomat
UN calls for 'massive' economic stimulus to ease global crisis
Powerful earthquake strikes Taiwan
China raises death estimate from tainted milk to six | International |
US military deaths in Iraq war at 4,207
Markets plunge on US recession data, global gloom
RPT-GLOBAL MARKETS-Asia stocks slide as global outlook darkens
Brazil describes new plan to slow deforestation
Tribal politics key to building bridges in Afghanistan | International |
China hopes talks with US boost coordination
India demands strong action from Pakistan
Quest for new climate treaty begins in earnest
Nokia says interesting launch due | Technology |
US envoy to NKorea talks heads to Asia
Coca-Cola's bid for Chinese juice maker under review: companies
NUS High School’s pioneer students graduate
Climate change juggernaut on the horizon, UN talks told
Qualcomm ruling affirmed, vacated in part: U.S. court | Technology |
Nikkei index falls sharply after US plunge
Blast kills protester as Thai court verdict looms
Climate change boosts potential for conflict, UN talks told
US Citigroup to buy Sacyr's Itinere highway operator: company
South Korea won cuts losses as intervention cited
Time Warner Cable CFO sees tougher 2009 | Technology |
China reports huge increase in children sickened by tainted milk
NZ will have new climate law next year: leader
Iran to back US-Iraq pact after referendum
South Korea says may cut 2009 growth forecast
Clearwire may slow WiMax build to cut funding gap | Technology |
Curtain set to rise on marathon climate talks
Taiwan dollar near 2-wk low on economic worries
Mobile phones distract drivers more than passengers | Technology |
UN: Financial crisis delaying green projects
S.Korea injects $4 bln to banks via Fed credit
Nokia seen outlining smartphone, services push | Technology |
Korea Hot Stocks-Doosan Heavy, carmakers
Halo Trilogy soundtrack set previews new game | Technology |
Oil tumbles below $50 as recession is called
Spears and Obama lead Yahoo top 10 searches | Technology |
Iranian state TV: OPEC cut of 1.5M barrels likely
Fortune telling is big business for Japan Web firm | Technology |
OPEC chief says cartel may decide 'major' output cut
Arrest made in Jennifer Hudson family murders | Entertainment |
Ivana Trump, fourth husband split | Entertainment |
Panda earns 16 Annie Awards nominations | Entertainment |
Classical musicians get shot at fame on YouTube | Entertainment |
Nicole Kidman still has 'beautiful stories' to tell
Rock act Creed in talks to reunite | Entertainment |
William Shatner aims to get under the skin of celebrities | Entertainment |
Luciano Pavarotti tribute hits cinemas, DVD | Entertainment |
Favorite Mark Leckey wins UK's Turner art prize | Entertainment |
Small things Frost/Nixon could do without | Entertainment |
Estranged relative arrested in Hudson killings
Former UCLA hospital worker admits selling records
Kylie wows fans at first Beijing concert | Entertainment |
Dutch "magic mushroom" ban enters into force
Mario Lopez in talks to host Miss America again
Report: NKorean leader visits Pyongyang zoo
Bill Clinton kicks off conference in Hong Kong
Official: Bomb blast kills 2, wounds 30 in India
China: 6 babies may have died from tainted milk
Family of executed Chinese scientist thanks EU for support
Riots leave 35 dead in Pakistan's port city Karachi
SKorea activists scuffle over anti-Pyongyang leaflets
Israeli settlers riot in Arab neighborhood
Thirteen Palestinians wounded in settler riot: medics
Palestinian killed by Israeli troops in West Bank
All eyes on Canada's PM after opposition revolt | International |
Bashir's Darfur peace promises are empty: groups | International |
Leftist coalition to grab power from Canada's Conservatives
Australian jockey Munce 'shocked' by ban
Activists scuffle over anti-North Korean leaflets
Australian gets 10 mths jail in Singapore over drugs
Thailand postpones ASEAN summit over crisis
Hawkish Obama names Clinton as top diplomat
Nikkei index tumbles after US plunge
Thailand postpones ASEAN summit because of crisis
SIA unit to buy Singapore Food for S$478 mln
S Korea faces challenge as global slump hits exports: president
CORRECTED
Court dissolves Thai government for election fraud
CORRECTED
S.Korean won ends down 1.7 pct on econ worries
Thai premier banned from politics, ruling party dissolved: court
Philippines stock index tumbles 4.7 percent
Taiwan chip-maker TSMC lowers sales forecast
Blanchett opens doors to Sydney theatre
iTunes: Coldplay, Leona Lewis topped sales in 2008
Australian TV man jailed 10 months in Singapore for drugs
Weather forecast for the Asia-Pacific region
Official: India received intel on Mumbai attacks
New ez—link cards that run on new payment system to roll out from December
Thai leader keeps out of capital in airport crisis
India asks Pakistan to hand over suspects
"Love Blossoms 2"
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01