Societe Generale expects increase in Asia provisions
Article Abstract:
Societe Generale SA, a banking group based in France, expects a significant increase in its provisions to cover Asia considering the economic decline in Asia in 1998. Societe Generale announced that to respond to the worsening crisis in Asia, the firm will raise its provisions for its Asian operations in the Philippines, Indonesia, Thailand, South Korea and Malaysia. The firm has approved the release of a total 4 billion Francs for Asian risks in its 1997 accounts. Meanwhile, there is a limit in provisions for international bad debts.
Comment:
Expects a significant increase in its provisions to cover Asia considering economic decline in Asia in 1998
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Spending, trade help Asia defy U.S. slump: local demand rises, export partners shift; driving world growth
Article Abstract:
Asia is faring better than other regions in light of the US economic downturn, with Europe becoming a more prominent destination instead for Asia's exports. Asia's affluent populations are also growing and are spending larger amounts.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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Tremonti urges bars to Asia goods
Article Abstract:
Giulio Tremonti, the economic minister of Italy, is calling on the European Union to increase trade barriers against cheap imports from Asia. Tremonti made his comments in the context of the struggling European economy.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
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