Financial Turmoil on Wall Street — Redundancy Peak is coming
Right now the financial tsunami attacking the Wall Street comes so rapidly that some one calls it a “rare” financial crisis. At this time, the elites’ Wall Street dreams seem to be broke in one night.
Cumbering with U.S. Economic Data European Stock Markets declined sharply on 2nd
As a result of weak U.S. economic data triggered the market’s anxiety about its recession, European stock markets closed at a sharply reduction.
U.S. Senate passed a New Version to rescue the Market
U.S. Senate through the hundreds of billions of dollars of financial rescue plan by voting on the evening at local time.
other news:
European Central Bank decided to continue keeping a Stable Interest Rate
Because of the pressure of the euro-zone inflation, the european central bank in Frankfurt of Germany decided to keep the dominant interest rate at 4.25 percent after meeting.
Buffett invest 3 Billion into General Electric Company
Well-known U.S. investor Warren Buffett announced on Oct. 1st that, Berkshire Hathaway company under his control wanted to purchase the stock, valuing at 3 billion dollars of General Electric company.
Economic Figures: The Secret of First Asian Rich-made Men
They belong to a special group, even in a century dream of Beijing Olympic Games, they are still flying in the sky.
Fan Gang: China will not cut the interest rate but may loose mortgage and commercial loan
Leader of National Economic Research Institute, Fan Gang said that considering the current inflation, there was little space to adjust the monetary policy. However, to loose the mortgage and commercial loan was quite viable to the credit from small enterprises. Moreover, he said China would probably expand the scope of the export tax rebate.
Real Estate Policy will probably be loosen at the End of this Year
Recently, the real estate market appears abnormal decline, while the housing prices begin to be involved into the quagmire. So the experts expressed their opinion on when would untie the real estate industry. Moreover, they predicted that “9 • 27″ second mortgage policy may be adjusted at the end of this year or in the early of next year.
CEEMA proposed to adjust the real estate market policy and put forward four measures
As to the China real estate condition, China Real Estate Enterprises Management Association (CEEMA) recently sent a letter to Ministry of Housing and Urban-Rural Development of People’s Republic of China (MOHURD), this letter required to adjust current tightening control policy in real estate, which pointed out the real estate market prices and decreased trading volume would influence on the national economy in two sides, so it proposed a “rescue” with four measures.
Other News:
Latest Market Analysis from well-known Institution: Domestic Steel Prices continue to decline
According to well-known domestic iron and steel information institution, the domestic steel prices continue the trend of sharp decline in the last week (Sept. 19-26), which created the new low since April this year.
EU plans to revise Banking Laws and Regulations to avoid the repeated Financial Crisis
The European Union put forward a legislative proposal on October 1, 2008 to amend the existing EU banking regulations, strengthen bank capital requirements, and enhance cross-border supervision so as to avoid the current financial crisis appearing in the future.
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