23 Jan '12, 10am

Bank of Spain forecasts contraction of 1.5% in 2012

Bank of Spain forecasts contraction of 1.5% in 2012

MADRID: Spain's central bank on Monday forecast the country will fall back into recession this year with a contraction of 1.5 percent, fuelling concerns over the country's ability to rein in its debt. The Bank of Spain however said it expects Spain's economy to make a modest rebound in 2013 with growth in gross domestic product (GDP) of 0.2 percent. It added that it estimates the economy to have grown by 0.7 percent in 2011. "In 2011, the modest recovery which the Spanish economy began a year earlier weakened as the eurozone sovereign debt crisis extended to a greater number of countries and financial market tensions strengthened," it said in its latest monthly bulletin. The bank also blamed the slowdown on falling internal demand due to government austerity measures and high unemployment for the worsening economy. The return to recession will make it harder for Spain, the...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

Tweets

BeritaSemasa : Jawatan Kosong Public Bank 2012

BeritaSemasa : Jawatan Kosong Public Bank 2012

beritasemasa.com 23 Jan '12, 9am

The Public Bank Group is highly reputed for its prudent management, strong balance sheet, superior asset quality, superior...

Spain minister urges change in deficit target

Spain minister urges change in deficit target

channelnewsasia.com 22 Jan '12, 1pm

MADRID: Spain's public deficit target for this year should be changed because it is based on outdated growth forecasts, Fi...

Fed to enter tricky waters of US rate forecasts

Fed to enter tricky waters of US rate forecasts

channelnewsasia.com 22 Jan '12, 6am

WASHINGTON: The US Federal Reserve enters uncharted waters at its policy meeting this week as it reveals individual policy...

World Bank cuts global economic growth forecast...

straitstimes.com 18 Jan '12, 4am

WASHINGTON (AFP) - The World Bank slashed its global economic growth forecasts on Tuesday and warned that rich nations' de...

Mail Boxes Etc. in Spain gets in dispute

domainnamewire.com 23 Jan '12, 4pm

UDRP panel hands over Mailboxes.org domain name. MBE Spain 2000, S.L., which manages franchises of Mail Boxes Etc. in Spai...