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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
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
IMF expects low growth, high inflation

The IMF now sees a 25% chance of a world recession this year, in which global growth would fall below 3%. Its base forecast is just 3.7%, compared to 5.2% before the credit crunch began. Sales growth for most chemicals is tied to GDP growth, so companies should expect volumes to come under pressure as...

Posted to ICIS Blogs (Weblog) by Anonymous on 04-02-2008
OPEC holds production as oil prices rise

OPEC today decided to hold oil production at current levels, even though prices are at a level which clearly threaten economic growth. They even recognised this risk in their statement , ‘highlighting the economic slowdown in the USA, which together with the deepening credit crisis in financial markets...

Posted to ICIS Blogs (Weblog) by Anonymous on 03-05-2008
4 issues driving today’s oil price

Quietly, oil has moved back to the $100/bbl level . This is quite different from January, when it first hit the magic $100/bbl number. Financial players had jumped on the trend from November as crude rose above $80/bbl, and then wanted to ‘get out at the top’. Their thinking was that a US recession would...

Posted to ICIS Blogs (Weblog) by Anonymous on 02-21-2008

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