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Scam Of Satyam

NEWSMAKERS

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L O B A L

GF

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I N A N C E

AROUND THE WORLD

UNITED STATES/GLOBAL

ECONOMIC GLOOM HITS BUSINESS CONFIDENCE
European companies indicated that they had tightened their credit policies, and Asian companies were increasingly pessimistic about their prospects. In January’s survey, approximately 43% of European companies indicated their companies had tightened customer credit. Yet in last November’s survey only 29% of European companies had tightened credit. While in previous surveys Asian companies were more optimistic than overall respondents, according to January’s survey they are now as pessimistic as everyone else. Asian companies, at 37%, are also more inclined to pay their bills more WHEN WILL GLOBAL RECOVERY BEGIN? slowly, compared to 35.0% 31% for all 30.0% respondents. However, 31.3% 28.5% 25.0% Asian companies were 20.0% slightly more optimistic 18.3% regarding the length of 15.0% 17.5% the credit crunch, with 10.0% 66% saying it will end 5.0% 4.4% within 12 months, 0.0% Q1 or Q2 2009 Q3 or Q4 2009 Q1 or Q2 2010 Q3 or Q4 2010 After 2010 compared to 61% for all respondents. Source: Global Finance reader survey

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s the credit crisis deepens and government measures to kick-start bank lending fall short of the mark, the mood among company CEOs, particularly those with operations in Europe and Asia, is beginning to darken. These are the latest findings from a series of surveys Global Finance has conducted since September 2008 of subscribers comprised largely of CEOs from nonfinancial and financial companies with headquarters in the Americas, Asia and Europe. In the fifth survey, conducted from January 13 to 16 of this year, more

South American companies were the most upbeat, with 72% saying the credit crunch will end within 12 months.They were also more optimistic about the global recession, with 40% saying it will end in 2009, compared to 33% for all respondents. A survey of 7,000 privately held businesses across 36...