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  • Japan's industrial output collapses as exports dive

    Japan has an ageing population. Since 1990, it has relied on exports to boost its economy. Yesterday , official figures showed industrial production is now being badly affected by the global recession. Output fell 3.1% in October, and a 6.4% decline is expected in November. Observers forecast the September...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-30-2008
  • US equities and crude oil follow each other

    An interesting note from PetroMatrix highlights the close linkage that has now developed between changes in the Dow Jones Industrial Average and WTI crude oil prices. The chart, showing market action on Thursday, makes the point very clearly. PetroMatrix's analysis suggests that "the correlation...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-18-2008
  • Dow warns of need for "radical actions"

    Andrew Liveris, Dow CEO, has consistently warned that we are facing a major recession. Today , in a Bloomberg interview, he spells out the need for "radical actions" to "take out capacity". He notes that Dow's volumes are down 10%-20% this quarter, and expects this to continue...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-14-2008
  • Survival tips for CFOs

    The Financial Times series on surviving the downturn focuses this week on CFOs . It includes advice from Feike Sijbesma, CEO of DSM, who suggests that "you need to see how creditable your debtors are, very quickly", and advises that "maintaining a good relationship with your creditors...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-14-2008
  • Russia's economy stalls

    A few months ago, Russia's economy seemed to be recovering from its problems in the late 1990's. High prices meant oil revenues were increasing, and the currency was strong. Now, the combination of the oil price collapse and the credit crunch has reversed the position. Yesterday , the central...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-12-2008
  • The blog's forecasting record

    The blog's forecasting record is reviewed in ICIS Chemical Business this week . The blog's aim is to "highlight relevant information for the busy executive, and to provide relevant and actionable analysis of key issues". The article particularly notes the blog's willingness to challenge...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-12-2008
  • G-20 tries to support growth

    The G-20 was created in 1999, after the financial crises that had hit emerging countries from 1997 onwards. It includes the G7 group of major industrial companies, plus the main emerging economies, including the BRIC countries (Brazil, Russia, India, China). Its ministerial meeting this weekend became...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-10-2008
  • Obama wins, Bush stays in office

    Sen. Barack Obama duly won a landslide victory in yesterday's US Presidential election, but will not take office until 20 January. I suggested last month in ICB, that "this delay, at such a critical moment, is not good news for chemical companies or for their customers". The blog therefore...
    Posted to ICIS Blogs (Weblog) by Anonymous on 11-05-2008
  • "Basically, orders just stopped"

    The moment the blog has long feared has now begun to happen. Celanese chairman David Weidman said on Tuesday that acetic acid prices in Asia had dropped sharply in recent weeks. "Basically, orders just stopped", he added. It is almost certain that this moment will now be repeated in other product...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-23-2008
  • 2009 Budgets

    It is nearly time for the blog's annual forecast of chemical industry prospects. Of course, past performance is not necessarily a guide to future outcomes. But it is one of the better guides that we have. So before publishing the forecast next weekend, it makes sense to assess the blog's credibility...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-12-2008
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