Wall Street

by Anjana Pasricha

Online Stock Market Trading Surging crude oil prices are expected to hurt the economies of South Asia, particularly the smaller ones.If you would like to receive late breaking news on stocks covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.Print This Page

The collapse of Enron Corp., so far a political, legal and investor crisis, is now imposing widespread costs on the U.S. economy, according to a range of companies, energy experts and bankers. Electricity and natural gas companies are facing higher costs. Projects to build power plants, pipelines and transmission lines are being put on hold. And in all sections of the economy, companies with high debts are feeling the pinch of tighter credit.

Stock Investing Course Nov 1, 2004 (AXcess News) New Delhi - Surging crude oil prices are expected to hurt the economies of South Asia, particularly the smaller ones.

Courtesy of Alex (our valued member) Interesting currency story from Reuters %Õreenback tipped to rise as US economy slows% //www.nzherald.co. story.cfm c_id=167&objectid=10414720 The greenback will rise in 2007, even as the United States economy slows sharply, as Asian central banks continue buying the American currency to keep their own currencies down and their exports competitive, says a British research firm. based Lombard Street says a housing slump in the US will finally cause Americans to cut back on spending, while rising labour costs will prevent the Federal Reserve from cutting interest rates until the second half of the year.

Stock Market Game Angry consumers in Sri Lanka are coping with price hikes on many fronts, bus fares, oil and food grains, electricity rates, cigarettes and alcohol.The price rises have triggered several protests. But the government says Sri Lankans will have to shoulder the burden of escalating living costs triggered by high global crude oil prices.

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Stock Investing Game The country is seeking credit from India and Iran to finance its rising oil bill.

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Journal Prime Rate Street Wall In Pakistan, rising fuel prices and food costs have driven inflation to a six-year high.Bangladesh also is coping with rising energy costs.In a region that depends almost completely on oil imports, economists say the damage from rising crude prices could be severe, except in India.Advertisement

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Stock Market News T.R. Bhaumik is a South Asia specialist at the Confederation of Indian Industry. He says India's foreign reserves of over $100 billion provide a cushion, because the government can subsidize consumer oil costs. Other South Asian countries do not share that advantage. "India is almost a stand-alone case, but the rest of the South Asian economies have a very critical future facing them," he said. "Their economies are going to see a severe setback, particularly the manufacturing sector, which had just started showing some kind of growth momentum. Even agriculture will suffer to the extent that agriculture consumes diesel."

Stock Investing Basics Economists say the manufacturing industry in countries like Sri Lanka and Bangladesh will become less competitive. Exporters may be the hardest hit if high oil prices persist. The impact will be particularly severe on a region that houses the largest number of poor people in the world.

Stock Investing Software In India, the government is holding off on dramatic price rises for fuel, forcing state-run oil companies to bear much of the burden of rising crude costs.The government wants to hold down inflation, which has been hovering at 7.5 percent.

Stock Market Trading But there are doubts that consumers can be shielded for long. However, even if domestic oil prices are raised, the economy is expected to slow only marginally.Source: Voice of America

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