The economic numbers are not positiveat all. First Europe and now Japan display worse falls in GDP than expected. Japan’s economy in record plunge Japan’s economy has seen its worst ever quarterly performance, with GDP shrinking 4% in the first three months of 2009. Researched by Nobuyo Henderson Continue reading Japans economy in record plunge
In keeping with watching for new and innovative shifts in banking, Societe Generale subsidiary Lyxor plans a big push with new ETF’s in the Japan market. These are being offerred online only. Lyxor (Societe Generale) plans big push of global products in Japan | FT Rakuten Lyxor Asset Management is planning to expand its exchange traded product range in Japan and the rest of Asia as investors in the region gradually gain more knowledge about the funds. The subsidiary of Société Générale will introduce 15 new ETFs into Japan this year, and market them through online brokerages, Lyxor says. That … Continue reading Lyxor plans 15 new ETF funds in Japan oferred online only
An update to a post last July 2008. Nissan have had suspend development of the Tanger Med terminal development in Morocco, but their partner Renault appear to remain in. It is noted that this is a suspension, not withdrawal, and partnet Renault is still in. This development is significant, and is in the same vein as the Gwadar development in Pakistan being mde by China. The shape of world commerce is changing, and the current economic crisis just means those changes themselves are changing. As I asked in July 2008 – where is the Tanger Med for banks – that … Continue reading Update to Tanger Med Auto development in Morocco
It is interesting to watch how banks are looking to move beyond the banking crisis. Here is an example in Japan, which is already highly focussed on their customers. Sumitomo Mitsui Bank is initiating new processes and methods to generate even better customer focus. Retail banking: Concerted effort to engage with the customer | FT Loiter in a Tokyo branch of the Sumitomo Mitsui Bank and you will notice some changes. There is still a large closed-off area of bank officers shuffling documents, but there are now two counters, a high one at which to make deposits and transfer money, … Continue reading Retail banking: Concerted effort to engage with the customer | Japan
Christian Caryl points out just how little Japan is both misunderstood and underestimated, particularly with regard to the 1989 bubble economy. Feel free to read at your leisure. Mr Koizumi government too charge in getting the banks to clean up their act, and after that the economy responded with remarkable speed. By contrast, the present U.S. slump is the result of a culture of financial profligacy that enmeshed consumers and homeowners as well as major financial institutions This lesson is one that must be considered as the PPPIP (Geithner) plan is implemented in the US, and European governments should take … Continue reading A lesson from Japan in management of toxic assets planning
The global economy is impacting Japanese banks in a different way. Due to the practice of holding stock in their clients the reduction in the stock market is impacting their balance sheet values and driving them to raise additional capital. Nikkei slides | Reuters TOKYO (Reuters) – As Japanese stocks slide toward a 26-year low, the country’s big banks may soon need to raise more capital and could go cap in hand to the companies whose weak shares triggered the problem in the first place. Tokyo’s three “megabanks” — Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial … Continue reading Nikkei slides impact Japan megabank equity position
Transcript: FT interview with Manmohan Singh – India Transcript: Stephen Harper interview – Canada Transcript: FT interview with Lee Myung-bak – South Korea Transcript: FT Interview with Sergei Lavrov – Georgia Transcript: FT Interview with Barack Obama – US Transcript: India’s security advisor on Obama Transcript: FT interview with Taro Aso – Japan Continue reading For the record – State Leader interviews before G20 – Financial TImes
The FT is interviewing many of the G20 leaders this week. Taro Aso of Japan makes a point here that is, so far, lost on the other leaders. He is reflecting on the Japanese bubble of 1989, exemplified by a drop in land prices of 87%. He makes the point that dropping interest rates to zero will not bring back investment by itself while people and businesses are pre-occupied with reducing debt. Transcript: FT interview with Taro Aso | Financial Times It was back in [the early 1990s] that the Japanese bubble economy collapsed. At that time, land prices in … Continue reading Transcript: FT interview with Taro Aso | G20
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