Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Archive for 24. August 2009

The way forward for business in a reset economy

Posted by hkarner - 24. August 2009

This economic crisis doesn’t represent a cycle. It represents a reset. “It’s an emotional, social, economic reset.”

Keynote by Jeff Immelt, GE Chairman, at the London Business School „Global Leadership Summit“. By the way: „RESET ECONOMY“ ist ein neues Buzzword geworden! Bitte merken!

Ein ausgezeichnetes 25 min Video.

Weitere Details auf dem „nuts & funkensprung“ blog.

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Eastern European Banking Systems: How Sound?

Posted by hkarner - 24. August 2009

  • Analysis of the financial health indicators shows that Eastern European banks are generally well-capitalized. Nevertheless, there are many weaknesses. Collapse in property prices, economic contractions and weak currencies have made it evident that Central and Eastern European borrowers will not be able to repay a substantial part of the loans.
  • „Asset quality deterioration in Eastern Europe to continue until at least mid-2010. As NPL ratios usually lag the business cycle by at least six months and the credit boom will continue to unwind, NPL ratios are expected to reach their peak levels only next year.“ (Deutsche Bank) 

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Eurozone Leading Indicators Improve Further

Posted by hkarner - 24. August 2009

  • August manufacturing PMI in the eurozone rose to 47.9 from 46.3 in July. The underlying economy appears to be improving „perhaps quicker than expected“. The PMI reading is still below 50, implying economic stagnation, yet the rising figure points to improving conditions. (BNP Paribas)
  • The composite index did reach 50 in August after rising to 47 in July. „The three-point increase in the composite index was less than the 5.2 point increase seen in Germany and the 3.6 point rise in France, implying that either the eurozone figures will be revised up in the final release, or that Italy and Spain did not share in the strength seen in Germany and France.“ (BNP Paribas)

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