ADB Cuts Thailand Economic Growth Forecast
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The Asian Development Bank on Wednesday cut its 2004 economic growth forecast for Thailand to 6.4 percent from 7.2 percent, citing the outbreak of avian influenza and higher oil prices.
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The European Commission on Tuesday revised upwards its growth forecast for this year, but cut its prediction for 2005 GDP growth to 2.0 percent, in its regular autumn economic outlook report.
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THE ASIAN Development Bank (ADB) said it has raised its GDP growth forecast for China to 8.8 percent from 8.3 percent, but slightly scaled down next year&#39;s projection for the world&#39;s fastest-growing economy to 8.0 percent from 8.2 percent.
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The Asian Development Bank downgrades 2008 growth forecast for East and Southeast Asian economies.
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Thai shares bounced back from their biggest sell-off in 16 years on Wednesday after the government scrapped controls on foreign stock buying, but the abrupt policy U-turn shattered confidence in its economic chiefs.
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British Airways has cut its estimate for revenue growth to 5.0-6.0 percent in the fiscal year to the end of March, citing the impact of heightened airport security after the alleged bid to bomb US-bound passenger jets.
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The Conference Board reported Thursday that the Leading Economic Index fell for a third consecutive month in August, suggesting slower economic growth ahead amid rising oil prices.
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Thai frozen food exporters are calling for the government to stop the baht's surge and South Korean automakers are seeing their earnings shrink.
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The Asian Development Bank (ADB) sharply lowered its economic growth forecast for Korea for this year and the next, lowering its outlook from 4.8 percent to 4.4 percent for this year and from 5.2 percent to 3.6 percent for next year.
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The double whammy of higher oil prices and unfavourable weather conditions for agriculture, will slow the countryâs economic growth to 6.5 per cent in 2004, and an even lower level of 6 per cent in 2005, according to an Asian Development Bank (ADB
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The White House on Tuesday lowered its forecast for U.S. economic growth for this year and next, saying that the economy is moderating.
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Slow sales in Asia are expected to cut into sales and profits.
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PARIS The Organization for Economic Cooperation and Development on Tuesday lowered its forecast for global economic growth next year, saying that the rise in oil prices was dampening global trade and consumer confidence.
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The IMF cuts its prediction for 2008 global economic growth, citing the turbulence sparked by the US housing slump.
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The world's top cellphone  maker Nokia on Tuesday cut its profit margin forecasts for the  next two years and joined market analysts in forecasting slower  growth for the global mobile phone market in 2007.
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Dutch Bank ABN Amro NV said Thursday it will cut 2,850 jobs in dozens of countries in an effort to save euro770 million (around US$1 billion) annually from 2007.
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LONDON (CBS.MW) -- The Organization for Economic Co-operation and Development cut its 2005 economic growth forecasts for the US, Japan and the eurozone, citing a period of sustained high oil prices.