InfoAnda - Spain scrapes out of recession but dark clouds remain

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

World raises nearly 10 bln dlrs for quake-hit Haiti | 1 April 2010
U.S. says jailed reporters in North Korea see diplomat | International | | 16 May 2009
Food stamp rule frustrates police in North Dakota | 9 May 2009

Venture firm Accel pours 11 million dollars into GetJar | 25 June 2010

Forum Views () Forum Replies ()

Read more with google mobile : Spain scrapes out of recession but dark clouds remain

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Spain scrapes out of recession but dark clouds remain AFP - Saturday, May 8 Send IM Story Print People hold flags and banners during a demonstration called by trade unions in Bilbao. The Spanish government warned on Friday it would use a new law to prosecute "attacks" from speculators after the Madrid stock market plunged this week during rumour-fuelled trading. MADRID (AFP) - – Spain scraped out of recession in the first quarter, the central bank said Friday, becoming the last major world economy to return to growth but analysts warned any upturn could be short lived. The Spanish economy, which is struggling to rein in a ballooning public deficit, grew by 0.1 percent during the first three months of the year over the previous quarter, its first rise since the second quarter of 2008, the bank said in a preliminary estimate. It contracted on a yearly basis by 1.3 percent. Stimulus measures enacted by the Spanish government including a cash-for-clunkers scheme "have triggered a recovery in some aspects of spending, particularly household spending," it said. The government predicts the economy, Europe's fifth largest, will shrink by 0.3 percent overall this year, after contracting by 3.6 percent last year, before returning to growth of 1.8 percent in 2011 and 2.9 percent in 2012. Spain entered its worst recession in decades during the second half of 2008 as the global financial meltdown compounded a crisis in the Spanish property market, which had been a major driver for growth in previous years. There have been a few recent signs that the economy is on the mend. Industrial production rose in March on a 12-month basis for the first time since April 2008 and the number of unemployed people in Spain fell in April for the first time in nine months, boosting the government's argument that the economy is returning to growth. But Rafael Pampillon, economics professor at IE Business School in Madrid, said that while the economy will likely post growth in the second quarter as consumers make purchases ahead of a rise of two percentage points in the value-added tax in July, it still faces a lengthy period of sluggishness. "For the whole year growth will be negative because Spain does not have a replacement model (for its construction-based economy), it cannot create jobs. The market wants other things, it wants structural reforms," he told AFP. "Spain does not have a model for sustainable growth. The first quarter growth data is very irrelevant," he added. Spain, which had a public deficit of 11.2 percent of output last year, the eurozone's third largest after Ireland's and Greece's, has received a hammering on financial markets in recent days after its credit rating was downgraded by Standard & Poor's last week. S&P cut Spain's long-term credit rating to "AA" from "AA+" on April 28 on fears the country's poor growth prospects could further weaken its public finances, fueling fears that Greek debt crisis could spread to Spain. Ben May, an economist at Capital Economics in London, said: "Spain will need to tighten fiscal policy considerably to make large inroads into its huge budget deficit" as a "strong and sustained recovery remains a long way off. "Events in Greece, mountains of private sector debt and troubles in the banking sector all suggest that any upturn could prove short lived," he added. The government has adopted a 50-billion-euro austerity plan aimed at forcing the deficit back under the EU-mandated three-percent threshold by 2013. It has ruled out further austerity measures on the grounds that they would hurt the economic recovery but the Bank of Spain on Friday joined the chorus of voices arguing that further government cuts could be needed in order to meet the deficit reduction target. "The programme's objectives are ambitious, but are they are based on an optimistic macroeconomic scenario, so its strict compliance may require additional measures to prevent a deviation from its targets," the bank said. The International Monetary Fund estimates that growth in Spain will be only 0.9 percent next year, half that forecast by the government. The European Commission and S&P have also issued lower growth forecasts than those provided by the government. The national statistics institute will publish the official first quarter gross domestic product figure on Wednesday. Recommend Send IM Story Print News Search Top Stories US probes mystery stock crash as panic spreads World leaders rush to contain Greek contagion Spain scrapes out of recession but dark clouds remain Swiss military socks unveil new high-tech socks Dow Jones falls over 250 points after market crash More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Panic sends Dow to worst ever drop Lack of sleep linked to early death: study Freddie Mac asks for fresh 10.6 billion dollar bailout Humans interbred with Neanderthals: genome analysis BP lowers dome as oil laps Louisiana island More Most Viewed » Aliens may exist but contact would hurt: Hawking Lack of sleep linked to early death: study Apple engineer loses iPhone prototype French driving veil row escalates Freddie Mac asks for fresh 10.6 billion dollar bailout More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Saturday, 8 May 2010
Armed men ambush Darfur peacekeepers, two killed
Germany pushes euro peers as crisis goes global
Data violations unpunished in EU: rights agency
Israel won't move on U.N. call for nuclear-free zone
EU promises to help keep Kosovo from falling behind
US-TECH Summary
Blasts, shooting kill 1, wound 7 in Bangkok |
US probes mystery stock crash as panic spreads
Train station bomb kills one in Russia: officials |
World leaders rush to contain Greek contagion
Nokia broadens legal row with Apple to include iPad
Spain scrapes out of recession but dark clouds remain
Germany green-lights unpopular Greek aid
Washington Post Co. reports first-quarter profit
U.S. envoy discussed detained Americans with Iran |
Swiss military socks unveil new high-tech socks
Dow Jones falls over 250 points after market crash
U.N. on target for Iran sanctions by mid-June: sources |
Nokia files new US patent lawsuit against Apple
British PM lets rivals mull power deal
Global chip sales to grow this year: industry group
Kremlin links Iran sanctions support with U.S. move |
IPad's international launch slated for May 28
Resigning German bishop accused of sexual abuse |
Apple's iPad on global sale from May 28
Huge dome nears source of gushing US oil leak
Borders takes orders for Kobo eReader due in June
White House says time is right for climate bill
US-TECH Summary
US envoy meets Palestinian leader in peace push
Nokia broadens legal row with Apple to include iPad
Nokia files new US patent lawsuit against Apple
Nokia board backs strategy, shareholders cry foul
Thai protesters haggle over reconciliation plan
Warner runs riot as Australia rout India
IPad's international launch slated for May 28 |
Dalai Lama tells AP: Exiles must press China talks
Shoe fans aTwitter in dash for Jimmy Choos |
Pressure on Pakistan amid fresh terror links
Maoists end general strike that had crippled Nepal
Frontrunner Aquino warns of Philippine election cheating
US vows more transparency over base in Kyrgyzstan
Attacks signal end of poppy harvest in Afghanistan
Frail NKorean leader makes scaled-down China visit
Japan PM faces more local refusal on US base
India's Essar Energy opens for all-investor trade at LSE
Korean firms look to invest $130 mln in Zambia
US-ENTERTAINMENT Summary
Celebrity online green sale raises $1 million
Moroccan Islamist party calls for Elton John ban
Nintendo looks to restore magic with 3D console
Oliver Stone targets banks in "Wall Street" sequel
Look out Iron Man, here come the Babies |
Less drama, more money in TV dealmaking season |
Celebrity online green sale raises $1 million |
UK's Clegg considers gov't deal with Conservatives |
U.N. on target for Iran sanctions by mid-June
Bosnian Serb war criminal attacked in British jail
Americans resume job hunt as economy improves
Concert promoters embrace new media for fan services
Euro leaders to set up urgent crisis fund
Violence raises tensions as Thai protests drag on |
Euro leaders to 'reinforce' budget pact after Greek bailout
Pakistan tests two nuclear-capable missiles |
U.S. Markets End Volatile Week Lower
U.S. Consumer Credit Takes Unexpected Jump In March
U.S. official may visit Myanmar if he can see Suu Kyi |
Chimp Mauling Victim Discharged From Hospital
US-TECH Summary
Legislation Would Strip Americans Linked to Terrorists Of Citizenship
Out Of Boredom, Man Falsely Reports He's Raping Teenage Boy
Abandoned Lunch Cooler Sparks Bomb Scare In Times Square
Washington Post Co Swings Q1 Profit On Strong Kaplan Unit Results
Surprise dinner fails to break Iran nuclear deadlock
Man In Critical Condition After Trying To Kill Himself By Torching Home
Pakistan test-fires missiles: military
Thailand censors more websites as protests persist
Pakistan test-fires 2 ballistic missiles
Arguments Heard In Federal Law On Gay Marriages
Violence raises tensions as Thai protests drag on
U.S. Unemployment Ticks Up, But Payrolls Increase
Australia wrap up Davis Cup tie over Japan
Concert promoters embrace new media for fan services |
New Thai violence kills 2, mars compromise moves
Kim Jong-Il committed to disarmament talks: Pyongyang
Pakistan tests two nuclear-capable missiles
Pakistan says it test-fired 2 ballistic missiles
US transport chief to press Toyota on Japan trip
Top US diplomat to visit military-run Myanmar
U.S. approval allows first-run movies to TV sets
Bollywood looks to tap Spanish-speaking movie-goers
New Lindsay Lohan track leaks online
Nashville venues prepare to reopen after flood
Jack Bauer stares down an unhappy ending on 24 |
Miranda Cosgrove creates "Sparks" with Top 10 debut
Christina Aguilera named WFP hunger ambassador
New Lindsay Lohan track leaks online |
Merle Haggard scores highest solo bow in 25 years
Men in Black are back -- in 3D |
Jack Bauer stares down an unhappy ending on "24"
Miranda Cosgrove creates Sparks with Top 10 debut |
U.S. approval allows first-run movies to TV sets
U.S. approval allows first-run movies to TV sets |
"American Idol" Top 4 say they're all winners now
Nashville venues prepare to reopen after flood |
American Idol Top 4 say they're all winners now |
Christina Aguilera named WFP hunger ambassador |
Iran welcomes Turkish, Brazilian nuclear fuel ideas
Spanish king well after lung surgery on benign growth
Sarkozy cancels Russia visit due to eurozone crisis
PLO convenes, to agree peace talks with Israel
Pakistan investigates NY bomb plot Taliban link |
British kingmaker party in power-sharing talks
Europe races to flesh out new crisis fund
Palestinian approval opens door to Mideast talks |
Al Fayed sells Harrods to Qatari royals: statement
No malignancy found in Spanish king's lung: doctor
Flash floods kill 66 in Afghanistan
Huge dome probes ocean depths to cap US oil leak
Merkel party fears voter lashing over Greece aid
Pope accepts resignation of German bishop in sex probe |
Gloom in Greece despite EU loan relief
Iran welcomes Turkish, Brazilian nuclear fuel ideas |
Pope accepts resignation of German bishop
Ash cloud closes 19 Spanish airports, could spread |
Spain closes 15 airports due to volcanic ash
Lebanon President says won't ask Hezbollah to disarm |
U.S. official to meet Suu Kyi, Myanmar ministers: diplomat |
U.S. official to meet Suu Kyi, Myanmar ministers
Thai gov't warns of violence if protests don't end
Thai rivals commit to peace plan despite violence
Taliban threatens new attacks in Afghanistan
Candidates wind down Philippine election campaign
Pakistan investigates NY bomb plot Taliban link
Pakistan tests 2 missiles, wants nuke recognition
Nepal's streets lively after crippling strike ends
Myanmar likely to let US envoy meet Suu Kyi
Karzai says civilian deaths hurt Afghan operations
Australia unable to pin blame for Ady Gil crash
Stalin casts long shadow ahead of Russian parade
India tycoon Mukesh Ambani pledges to renegotiate gas deal
Out Of Boredom, Man Falsely Reports He's Raping Teenage Boy
Park Officials, Journalists See Largest Beaver Dam In Canada For First Time
Study: Neanderthals Interbred With Homosapiens
Crazy Bands Banned From School
MLB 2K10 Contest Ends With Alabama Man $1M Richer
British Columbia Solicitor General Resigns -- Again --
Picasso Painting Fetches Record Price For Art Of $106.5 Million
Russian Court Sentences Two Men For Killing, Cooking And Eating Schoolgirl
Grandmother Who Slapped Unruly Granddaughter Has Charges Dropped
Balloon Bomb Hoax Gets Preteen Girls Felony Charges
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		BlogMeter 1.01