Word: moneys
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...like the Indonesian rupiah: the six-month London Interbank Offer Rate (or LIBOR, the benchmark for U.S. dollar borrowing), is now hovering at slightly less than 1%. That rock-bottom rate stands in stark contrast to the 6.5-7% rate of interest one can get from a short-term money market bill in Indonesia, where the 5-year government bond currently yields roughly 9%. The wide gap between the carrying costs of the two currencies is what is fueling the dollar-rupiah carry trade, analysts...
...Vancouver, which will host the Winter Olympics in 2010, has already had its debt rating downgraded because its Olympic Village has turned into a money pit that could end up costing taxpayers as much as $1 billion. As for the total price tag for Vancouver's Games, estimates vary from $1.6 billion to $5.5 billion. (Read "In Hard Times, Olympic Plans Go On a Budget...
...commerce," says Sam Williams, president of the Metro Atlanta Chamber. "We become a global city, not just the capital of the South." However, critics say Atlanta got too caught up in the idea of making the Olympics self-funding. As a result, it missed out on state and federal money that could have paid for upgrades to neighborhoods and sewage systems...
...cuts," says Professor Henrik Enderlein, from Berlin's Hertie School of Governance. "On the contrary, Merkel's new center-right government is likely to raise taxes, like VAT, in order to get Germany's public finances out of the red." (See pictures of the dangers of printing money in Germany...
...During the campaign, Westerwelle pledged to cut taxes and simplify Germany's tax code - regarded as one of the most convoluted in Europe. The FDP leader says the goal is simple: more money in the pockets of workers. Lower taxes, the party says, will increase tax revenues by providing more incentive to work and boosting growth. Pushed by the CDU's sister party, the Christian Social Union (CSU), Merkel has already promised to cut taxes, but she cleverly avoided mentioning any date. The issue is likely to define the new government - either because Merkel and company carry out reforms...