US Federal Reserve Bank of St. Louis President, William Poole said that the U.S. will probably avert a recession and that the Fed's interest-rate policy is appropriate for the slowing economy.
``The best bet is that we will not have a recession,'' he said in answering questions after a speech in St. Louis yesterday. ``My take on the current policy situation is that policy is at a good place for both the long-run concern and for cushioning the impact of financial disturbances.''
While consumer spending is ``soft,'' that is ``completely different from crashing,'' Poole told reporters later. ``It's a very different story so far from some of the past recessions that I remember living through, when things really plummeted.''
Local news...DiGi.Com Bhd, Malaysia’s second-biggest publicly traded mobile-phone company, said chief executive officer Morten Lundal will quit to join Vodafone Group Plc. The company named Johan Eric Dennelind (the current CFO), 38, to replace Lundal effective from April 1, 2008.
TTDI Development Sdn Bhd, well-known for its Taman Tun Dr Ismail township in Kuala Lumpur, is set to launch Malaysia's biggest property initial public offering (IPO) this year. The property arm of the Naza Group, TTDI has hired CIMB Investment Bank Bhd to arrange the IPO and listing. "The IPO targets a market capitalisation of at least RM850 million," TTDI group managing director Datuk Johan Ariffin told Business Times.
TTDI Development Sdn Bhd, well-known for its Taman Tun Dr Ismail township in Kuala Lumpur, is set to launch Malaysia's biggest property initial public offering (IPO) this year. The property arm of the Naza Group, TTDI has hired CIMB Investment Bank Bhd to arrange the IPO and listing. "The IPO targets a market capitalisation of at least RM850 million," TTDI group managing director Datuk Johan Ariffin told Business Times.
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