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British coffers get oil boost but full year outlook grim

Published August 20, 2008, 11:43 pm, Gulf Times

LONDON: Bumper tax receipts from North Sea oil companies boosted Britain’s public coffers in July but a deteriorating underlying picture left the government little hope of meeting its full-year borrowing forecast.

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Downturn worry puts bank off rate increase

Published August 20, 2008, 11:11 pm, icWales

AN INTEREST rate increase was ruled out this month because of the risk that it might make the economic downturn “unnecessarily deep”, the Bank of England revealed yesterday.

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Don says resource-rich economies, like Malaysia, will do well

Published August 20, 2008, 4:45 pm, The Star

KUALA LUMPUR: Malaysia and other resource-rich economies should do better than the financial capital markets in the US, European Union (EU) and Japan, said a professor from the University of Tokyo.

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Govt backing of America"s Cup team pays dividends

Published August 20, 2008, 4:17 pm, Scoop.co.nz

The government’s $33.75 million investment in Emirates Team New Zealand boosted the New Zealand economy by around $2 for every dollar of public funding, Associate Finance Minister Trevor Mallard said today.

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Georgia Cuts Rate to Spur Economy as Russia Maintains Its Grip

Published August 20, 2008, 3:42 pm, Bloomberg.com

Aug. 21 (Bloomberg) -- Georgia, a third of its land under military occupation, cut its benchmark interest rate in an effort to shore up an economy that was already slowing prior to Russia's Aug. 8 invasion.

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Bumper oil receipts boost UK public finances

Published August 20, 2008, 2:04 pm, Stuff

Bumper tax revenues from North Sea oil helped Britain's public finances swing into surplus in July, data showed on Wednesday, but the government still faces an uphill battle to meet its full-year borrowing forecasts.

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Tax revenue from North Sea boosts UK public finances

Published August 20, 2008, 1:23 pm, The Herald

Robust tax revenues from North Sea oil companies helped push Britain's creaking public finances into surplus in July, but the government still faces a protracted battle to meet its full-year borrowing forecasts, official statistics showed yesterday.

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Public coffers get oil boost but outlook grim

Published August 20, 2008, 12:30 pm, Reuters via Yahoo! UK & Ireland News

Bumper tax receipts from North Sea oil companies boosted public coffers in July but a deteriorating underlying picture left the government little hope of meeting its full-year borrowing forecast.

Full Story


U.S. economy: Light at the end of the tunnel

Published August 20, 2008, 12:22 pm, PhysOrg

(PhysOrg.com) -- Sure, the U.S. economy is struggling, but the end to the "growth recession" may be in sight, say University of Michigan economists.

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Retail sales signal slowdown, not recession

Published August 20, 2008, 11:45 am, The Globe and Mail

OTTAWA (Reuters) - The value of Canadian retail sales climbed 0.5 percent in June due to soaring gasoline prices, but in volume terms sales fell, indicating consumer spending is slowing but not enough to drag the economy into recession.

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