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Roundup: Asia will lead global economic recovery in 2010, economists say

By Chen Jipeng

HONG KONG, Jan. 15 (Xinhua) -- Asia ex-Japan will lead the global economic recovery with impressive growths in 2010, with China and India in the spotlight, economists has said.

International wealth management firm Invesco said on Wednesday it expected a growth of 7.4 percent for Asia-Pacific in 2010, compared with 2.2 percent for the United States, 1.2 percent for the U.K. and 1.2 percent for the euro zone

The Asia-Pacific refers to economies such as China, India, the four newly industrialized economies and links of london the southeast Asian economies of Indonesia, Malaysia, the Philippines and Thailand.

"I expect overall gross domestic product growth for the Asia ex- Japan region of about 4 percent to 5 percent, with China still leading the pack in 2010," Invesco Chief Economist John Greenwood said in Hong Kong.

In Asia, the possibility of a second downturn is remote, he said.

"Asia is in very good shape because of ... the health of the balance sheets ... good income growth," he said, adding that consumption will be strong in China.

Invesco projected a growth of 9.4 percent for the Chinese economy in 2010 and 7.5 percent for India.

Greenwood said the recoveries in the developed world are modest and fragile.

The key question for 2010 would be whether the recovery in the household and private sectors will be strong enough to enable the central banks to exit from the stimulus plans without harming nascent recovery.

The stories are different for the developed and the emerging economies, given that the process of balance sheet repair has just begun in the U.S. and U.K.

"Balance sheet repair is a prolonged process. It cannot happen quickly," he said, adding that balance sheet repair process in the U.K. after the housing boom of the late 1980s lasted for more than half of the following decade.

Greenwood said he expected the size of the balance sheets of the central banks to remain put through most of 2010. The reduction of the size of the balance sheet will only begin much later, probably in 2011.

Ayaz Ebrahim, chief executive officer for Asia-Pacific at Halbis Capital Management, an investment arm of banking giant HSBC, also saw Asia leading the global economic recovery, making it an important investment theme in 2010.

Huge inflow of money into Asia ex-Japan since March 2009 showed the financial institutions has been expanding their investments in the region, Ebrahim said.

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Nevertheless, Ebrahim warned against potential downside risks in the Asian markets, citing excessive liquidity and recent remarkable rise in asset prices.

Leon Goldfeld, the chief investment officer of HSBC Global Asset Management in Hong Kong, said one of the risks for the global economy in 2010 is the exit strategies.

The global economic growth might slow down a bit when the central banks started exiting from stimulus measures in the second half. But the emerging economies would still enjoy better prospects than the developed economies, he said.

Standard Chartered projected a growth of 2.7 percent for the global economy this year, compared with 7 percent for Asia. China is
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Roundup: Canada unbeatable in medal standing at Vancouver winteer Olympics (Day 15)

VANCOUVER, Feb. 27 (Xinhua) -- Steve Holcomb steered the USA 1 to the American's first Olympic four-man bobsleigh triumph in 62 years at the Whistler Sliding center on Saturday, but it could not prevent Canada from leading the overall medal standings.

With the games approaching to its last minute, skaters and skiiers from host Canada had a gold rush, winning three gold from seven on offer on the penultimate day of the games through men's speed skating team pursuit, men's snowboard parallel giant slaom and men's curling.

In four-man bobsleigh, Holcomb and his crew held on to a comfortable lead in the third run down the track and cruised to become the first American quartet to win the gold in the showcase sliding event since 1948 in St Moritz, Switzerland. "Smokin" Francis Tyler won the last U.S. bob medal 62 years ago.

Andre Lange drove Germany 1, who was in third and 0.54 seconds trailing USA 1 after three runs, one place forward for the silver in the last heat, 0.38 seconds behind the winners.

Canada 1, with Lyndon Rush at the helm, was in second position, 0.45 seconds off the pace, before the fourth and final Replica prada wholesale run, but faltered to a slim one hundredth second slower for the last place of podium.

Also on Whistler mountain, Giuliano Razzoli of Italy captured the first gold medal for Italy in men's Alpine skiing since 1992, wining the slalom in one minute 39.32 seconds.

The Italian skiier, fastest in the first run in the morning, only needed to be seventh fastest in the afternoon. The "Rocket" started 30th and scorched the field for the first gold medal in Alpine skiing for an Italian man since legendary Alberto Tomba won gold in giant slalom at the Albertville 1992 winter Olympics.

Ivica Kostelic of Croatia won his second silver of Vancouver games in 1:39.48 and Andre Myhrer of Sweden had the bronze ni 1:39.76 in the final Alpie skiing event of the games.

In women's 30km mass start classic event, Justyna Kowalczyk of Poland claimed her first Olympic title in a hard-fought race with Marit Bjoergen of Norway.

Throughout the race, Kowalczyk did battle with Bjoergen and with only 0.80km to go, she passed the Norwegian on a steep climb, forcing both to push hard to the end.

Only meters away from the finish line, Bjoergen switched from double poling to the classical stride wihiel Kowalczyk kept pace with her double poling and kick.

Kowalczyk made it first to the line by half a ski length with a time of one hour 30 minutes and 33.7 seconds. Bjoergen smiled at her opponent as she went over the line for the silver just 0.30 seconds later.

Aino-Kaisa Saarinen of Finland was third at 1:31:38.7.

In speed skating, Canada clinched the men's team pursuit gold with superb team work while Germany defended their women's team pursuit title by edging Japan in 0.02 seconds on the last day race in Richmond Olympic Oval.

In front of 6,761 home fans, the team of Canada, including Denny Morrison, Lucas Makowsky and Mathieu Giroux showed great team work and led all the way ahead of the United States to lift the men's team pursuit title in three minutes 41.37 seconds.

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The Unitd States came in second in 3:41.58.

In the battle fo
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Swedish unemployment rate rises to 9.4 percent

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STOCKHOLM, Feb. 18 (Xinhua) -- Sweden's official unemployment rate rose to 9.4 percent in January from 7.3 percent a year earlier, Statistics Sweden (SCB) announced on Thursday.

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Due to a sharp reduction of employed women, the number of the country's unemployed reached 458,000 in January, a growth of 108,000 year-on-year, the Swedish government agency said in a statement.

In January, 4,399,000 Swedes were employed, 80,000 paper bag printing less than one year ago, it said.

However, the growth of unemployment rate has slowed during past several months because the number of employed men has grown slightly, the agency added.

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Swedish medical university looks forward to having more cooperation with China

STOCKHOLM, Jan. 26 (Xinhua) -- Sweden's medical university Karolinska Institute's President Harriet Wallberg-Henriksson Tuesday said her institute is looking forward to having more cooperation with China.

"We already have Clip on charms a lot of cooperation with many universities and hospitals in China, especially in research of cancer," Wallberg- Henriksson told Xinhua after a journalist seminar being held in Karolinska Institute in Stockholm to commemorate 200 years anniversary of the founding of the institute.

She said in recent years, almost every year there are over 100 Chinese PhD students coming to Karolinska Institute to do research in various fields such as breast cancer, Parkinson, Fendi Replica Handbags and others.

Wallberg-Henriksson also said she would go to Shanghai to attend this year's Shanghai Expo and also attend a seminar organized by Chinese medical universities to conduct academic exchanges.

"We are trying to have more cooperation in the future, it is in good momentum," she added.

Established paper bag printing on Dec. 13, 1810 with the order from King Karl XIII, Karolinska Institute is holding various activities throughout the whole year to celebrate its 200 years of history.

Karolinska Institute becomes famous around the world partly because the Nobel Prize in Physiology or Medicine is decided here every year since 1895.

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By:Peter Kenny



If you have bad credit, then banking and using financial products can be hard However, there are ways that you can bank with bad credit and still get the features that you want Also, if you have good credit there are some actions you can take that will easily ruin your credit score and reduce your ability to get the deals that you want Here is some advice on banking with bad credit, and how to make sure your credit rating isn't affected by your banking decisions

Disputing your credit report

One way to ruin your credit rating is to dispute all of the items on your credit report Although disputing items that you know to be wrong is a good idea, some people try and dispute all items because unless the agency responds within 30 days they have to remove it The problem with this is that if all the items on your report are removed, a bank or lender doesn't know if you are a good or bad borrower They will not take the risk and so you will be left unable to get the financial products that you want To avoid this, only dispute items on your credit report that you know to be inaccurate or false

Not paying bills on time

Another way to hurt your credit rating is to pay your bills or bank fees late If you do this then your credit report will show that you are unreliable, and the interest rates and fees that you are charged are likely to increase Although it isn't always possible, try and pay your bills on time Using an online bill paying system can help you to keep track of when you need to pay

Bad credit affects your banking

If you have bad credit, then it will affect all aspects of your banking Your bank is likely to be much tougher on you if they know that you are unreliable or have bad credit You will be charged higher rates, and you will have limited access to features Having bad credit will reduce the chances that you can get a competitive credit card and loan from your bank Although you can still use a bank, having bad credit will harm your ability to use your bank to the fullest

Improving your credit

There is no easy way to improve your credit, and the best thing to do is to simply pay your bills on time and then when you have the opportunity to borrow, do so cautiously and make sure you borrow only enough to show the bank you can be relied upon to pay the money back If you are with a bank a long time and show them you are reliable, then you are more likely to get a better deal T8 LED Tube.

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READING ......................2 WEST BROM...............2 READING winger Jimmy Kebe scored one of the fastest goals in FA Cup history but the Royals were pegged back by West Brom in a captivating fifth-round clash. Kebe scored after just nine seconds at the Madejski Stadium to kick-start an entertaining cup tie which saw both sides reduced to 10 men.

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Robert Koren - only drafted into the Albion line-up by manager Roberto Di Matteo at the last minute - soon equalised but Reading substitute Simon Church looked to have put Brian McDermott's side into the last eight for the Fendi Replica Handbags first time since 1927.

However, Baggies left-back Joe Mattock ensured that the two teams will meet again when he thundered in a sublime 87th-minute strike. Reading saw striker Shane Long dismissed in the 48th minute for an ugly lunge on Abdoulaye Meite and he was joined on the sidelines by Albion sub Youssouf Mulumbu - who lasted just 16 minutes before seeing red.

Kebe struck after just nine seconds. The ball was played back to right-back Gianni Zuiverloon, who hesitated and then challenged by Kebe who swept into the box and steered the ball under Scott Replica fendi wholesale Carson.

brochure printing Kebe then wasted a free header and was punished when Koren levelled in the 18th minute. Chris Brunt delivered a perfect cross over goalkeeper Adam Federici for Koren to tap in.

After the break Mulumbu, on for Gonzalo Jara, was booked within 60 seconds before Long was dismissed three minutes into the second half when he jumped into a challenge on Meit.

Having been cautioned, Mulumbu then checked the run of Brynjar Gunnarsson and was shown a second yellow card in the 61st minute.

Reading forged ahead in the 73rd minute through sub Simon Church whose initial chip was saved but he managed to fire in the rebound.

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The visitors earned a replay three minutes from time when Mattock thundered in a first-time drive.

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