| One year into term, Chile's leader tries to reverse slide
SANTIAGO, Chile: What Michelle Bachelet promised when she was sworn in as Chile's first female president a little over a year ago was social justice and continued economic stability. What Chile faces at the moment, though, is a nagging corruption scandal and chaos in the transportation system here in the capital, which have combined to sap her popularity. The corruption allegations, which involve a state sports agency and first emerged late last year, have been a boon to a right-wing opposition tainted by its links to the dictatorship of General Augusto Pinochet. But the immediate cause of Bachelet's troubles is a costly new integrated subway and bus system that was supposed to be one of the most modern in the world. Instead, commuters here in the capital region, which is home to more than one-third of Chile's 16 million people, are wasting hours every day getting to work and back home.
NEDAB Taps Schwer for Research and Development
LAS VEGAS, NV -- (MARKET WIRE) -- 03/13/07 -- The Nevada Economic Development Advisory Board (NEDAB) announced that R. Keith Schwer, Ph.D., Director of UNLV's Center for Business and Economic Research, has agreed to lead the NEDAB's research and development efforts. An important component of Dr. Schwer's research for NEDAB will involve gathering securities statistics for the state of Nevada, information that will help NEDAB reach its goal of diversified economic growth through capital markets participation. "Our goal is to capture performance metrics on an ongoing basis so that we can track the effectiveness of Nevada's capital market awareness campaigns and how this correlates with company growth and overall economic growth for Nevada," said NEDAB spokesperson Robert Uithoven.
Weaker than expected US economic reports leave New York markets ...
Weaker than expected US economic reports had stocks scrambling for direction Wednesday, as investors welcomed news that Iran will release 15 British naval service personnel, held since last month. The price of light crude fell 56 cents to $64.08 on the New York Mercantile Exchange. The Dow Jones industrial average gained 17 to 12,527 and the broader S&P 500 was down 0.54 to 1,438. The Nasdaq composite added 6 points. .
Indiana Attorney General Steve Carter takes legal action against ...
INDIANAPOLIS | East Chicago Second Century, Inc. (Second Century) needs to provide an accounting of $16 million it has received over 10-years announced Attorney General Steve Carter today in a news release.Carter has filed a lawsuit seeking a court-ordered accounting from the for-profit organization and says a public charitable trust should be established to ensure gambling revenue is being utilized for the public’s benefit."Riverboat gambling in Indiana was established to help communities with economic growth," Carter said. "I want to know, and the public deserves to know, ‘Where did the $16 million go?’." Citizens living with a casino in their own back yard, promised to receive economic development from the casino by the legislature, have been denied an accounting or proof of these expenditures."Read more in Friday's edition of The Times.
The Global Impact of Taiwan's Future
Much has been discussed about China and its growing power. The awakening dragon, the poised-to-be super nation, the astonishing economic growth rate, and the laughable human rights records -- all these aspects have been receiving extensive attention. However, what could be the most important factor in the future of China, or even the world, is mainly neglected: the Taiwan issue.
East Asia has played a key role in globalization, thanks to its rapid economic development. Five of the world's top 20 economies are East Asian nations. Yet it is far from the peaceful region one would like to see. Japan, the second largest economy in the world, has been a historical rival of China, the third largest economy. Both are thirsty for energy resources, and efforts of the two governments to ease hostilities remaining from World War II can be said insufficient at best.
Officials question population loss estimate for Decatur metro area
DECATUR - Decatur may have experienced one of the largest population losses in Illinois since 2000, but officials say better news is just around the corner, if it isn't already here. Population Estimates for Illinois metro areas Craig Coil, president of the Economic Development Corporation of Decatur and Macon County, questions the latest estimate showing the city's metropolitan area lost nearly 5,400 people, or 4.7 percent of its population, since the last 10-year census was taken."This doesn't make any sense to me," Coil said. "Caterpillar alone has created 1,600 jobs in the last 24 months, so we should be seeing population growth by now."Instead, estimates released today by the U.S. Census Bureau indicate the Decatur metro area dropped by another 526 people between July 1, 2005, and July 1, 2006 - to 109,309 - after losing similar numbers the previous two years.By contrast, three other metro areas in Central Illinois continued to grow, with Bloomington-Normal posting the largest increase of more than 7 percent in the past six years.Tom Hamilton, city manager of Bloomington, credited a diversified economy for keeping the city growing, even as Mitsubishi Motors cut more than a third of the local plant's work force in 2004.
IMF: Global economic growth still solid
The global economy will remain resilient, despite an economic slowdown in the U.S, the International Monetary Fund concluded in its semi-annual World Economic Outlook, released Thursday. The IMF expects the global economy to grow about 5% in 2007, which is a healthy economic expansion rate. Further, the IMF report argued that concerns about a global recession triggered by a substantial slowdown in the U.S. economy were not supported by historical evidence, if previous global recessions are any indicator of the phenomenon. Global growth typically declines sharply when there are synchronized adverse events that affect many countries at the same time, said IMF Chief Economist Simon Johnson. None of the three major economic regions of the world: the U.S., European Union, and Japan-China is in recession, a strong argument against any conclusion predicting a global slowdown, let alone a global recession.Specifically, the U.S economy is projected to grow 2.6% in 2007, although it is probably growing at a slower rate currently, in Q2.
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