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Entries for tag: recession
'Russian recession is over'
The recession in Russia is over or at least it is according to Vladimir Putin who pumped RUR3 trillion (EUR85bn) in stimulus spending into the economy. This opinion is shared by Bank of America Merrill Lynch who stated that the country ‘is poised for the world’s “biggest bounce”’ and estimates output may grow seven percent in 2010 as companies rebuild stocks and stimulus spending supports demand.
Read ArticleRussian recession 'is over'
Russia’s economy expanded in Q1 2010 to an annual 2.9 percent.
Read ArticleLatvia pulls out of recession
The Latvian economy has pulled out of recession after reporting growth of 0.3% in the first quarter of 2010.
Read ArticleSilver Spoon downgrades packaging
Cakecraft is a range of edible decorations from Silver Spoon. The company has recently chosen to downgrade its packaging range, possibly as a way of meeting the threats posed by economic recession and has chosen what may be termed a cheap and nasty solution proposed by M&H Plastics.
Read ArticlePrivate label represents a challenge for packaging companies
The supermarkets don’t just want to sell groceries. They also want to sell the groceries as their own. A recent analysis from the Nielsen Company shows a large increase in the number of private labels in the grocery sector.
Read ArticleDemand for cartonboard nearly recovered according to M-Real
The head of M-real (MRLBV.HE) said on Monday demand for cartonboard, the Finnish paper and packaging firm's top product, had nearly recovered and he expected losses to narrow in the second half of 2009 from the first.
Read ArticleKBA denies that it needs State assistance
Since April German press manufacturer Koenig & Bauer (KBA) has seen a major upturn in new orders for sheetfed presses, with business drummed up at trade fairs in the Middle and Far East largely balancing a shortfall in the first quarter. This was the message delivered by Helge Hansen, KBA president and CEO since 27 March, at the company’s 84th AGM at the Vogel Convention Center in Würzburg. However, as Hansen warned the serried ranks of shareholders present, demand for big newspaper and commercial web presses remains unsatisfactory. “While we have increased our share of the global newspaper market to almost 50 per cent, the total volume of new orders booked in the first five months was well below our target for the year. The global recession and financial meltdown continue to impact on demand in the sector, and are now affecting sales of special presses for niche applications. At present the only bright spot in this gloom is the security printing sector.”
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Metal packaging sector claims that it has solution for own label in economic slowdown
Cautious consumers around the world are tightening their spending in the wake of the global economic downturn. And who can blame them? Record stock market losses, dwindling retirement accounts, falling house prices and rising unemployment have put a chokehold on spending. But as an economist friend of mine said recently: “People still have to eat.”
Read ArticleEstonian economy may shrink by 15%
Estonia’s GDP may plummet as much as 15.3 percent this year should the recession in its main export markets including Finland and Sweden worsen, the central bank said.
Read ArticlePolish government does not expect recession
The Polish government does not expect a recession, but it cannot rule out a still worse scenario than the current pessimistic one stipulating for a 1.7% GDP growth in 2009 (vs. the official forecast of 3.7%), finance minister Jacek Rostowski said in an interview with the daily Gazeta Wyborcza.
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Recession boosts protective packaging sales
Sealed Air, a manufacturer of food and protective packaging systems and materials, is attributing a boom in sales of its MailTuff Cushioned Bags over the Christmas period to the economic downturn as savvy shoppers switched from the high street to online shopping to help beat the crunch.
Read ArticleRecession effecting BASF
BASF’s global business declined significantly in December 2008. In all regions, demand for chemical products has not picked up in the first half of January and customers are continuing to destock. BASF’s chairman, Dr. Jürgen Hambrecht, currently sees no signs of a turnaround: “The situation remains tough and difficult to predict. We do not expect the economic environment to improve in the coming months.” The decline in business is greater than expected in November and will negatively impact earnings.
Read ArticleIMF warns of world recession unless credit starts to flow again
Governments need to take additional coordinated action to revive world financial markets and get credit flowing again, the IMF says, warning that the global economic outlook continues to deteriorate.
Read ArticleRecession not hurting Clondalkin Boxes
Peter Burgess from Clondalkin Boxes UK speaks at the Luxe Pack fair in October 2008 about the high value end or the packaging industry and why the recession is not hurting.
Read ArticleSonoco thinking of recession minded customers
Packaging for recession-minded consumers, the future of packaging and sustainability are hot-button topics for consumers, consumer-products companies and retailers. At Pack Expo International 2008, Sonoco (NYSE: SON) will conduct theme days at its exhibit Nov. 10-12 to address these issues and share packaging strategies about each topic.
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Credit crunch could hit Poland
Poland's economy will likely ease down to around 5.0% this year from last year's 6.5%. Direct impact of the US recession has so far been slim, but if the recession proves deeper, Poland's GDP growth could fall to 3.5-4.0% in 2008, Michal Szymanski, deputy head of the pension fund managing firm Commercial Union PTE, said on Wednesday.
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