Asian stocks skidded lower on Thursday after being stung by the pessimistic assessment of the Federal Reserve about the U.S. economy and the perceived ineffectiveness of measures taken to kick start growth again.

The benchmark oil fell below $85 a barrel while the dollar strengthened against the euro and the yen.

From news.yahoo.com:

Investors were beginning to despair over the U.S. economy despite an announcement by the Fed of a new bond-buying program meant to stimulate lending and growth.

“What we could or should do has already been done — and it still hasn’t supported the market. Nothing can help the market. So it feels very dangerous,” said Linus Yip, strategist at First Shanghai Securities in Hong Kong.

“I expect panic selling,” he said. Then, “hopefully the market will find its short-term bottom.”

Energy shares in Australia plummeted amid fears of a global economic slowdown. BHP Billiton, the world’s largest mining company, lost 4.3 percent. Rival Rio Tinto Ltd. plunged 6.8 percent. OZ Minerals dropped 7.2 percent.

Japan’s Nikkei 225 slumped 1.6 percent to 8,598.32 and South Korea’s Kospi slid 2.6 percent to 1,806.62. Hong Kong’s Hang Seng dived 3.6 percent to 18,138.32. Australia’s S&P/ASX 200 was 2.2 percent down at 3,984.40.

Tags: Asian stocks, economic slowdown, Federal Reserve, Kospi

UBS chief executive Oswald Gruebel said he has the support of his board despite the recent rogue trading scandal that cost the bank $2.3 billion and prompted calls for tougher regulation of risky investment bank practices.

Gruebel is expected to ask the UBS board to back plans, under his leadership, for a radical overhaul of investment banking.

From news.yahoo.com:

London-based UBS trader Kweku Adoboli was charged on Friday with fraud and false accounting dating back to 2008 relating to the losses.

UBS said in a statement on Sunday that he concealed “unauthorized speculative trading” in equity index futures over the last three months” by creating fictitious hedging positions in internal systems.

Gruebel said on Sunday he would “bear the consequences” of the trading loss that was discovered last week but did not want to quit, adding the affair would influence the future strategy of the investment bank.

The board will not be rushed into dumping the investment bank following the rogue trades, a source at the bank told Reuters.

Tags: equity index futures, investment bank, investment banking, speculative trading, trading scandal, UBS

When it comes to enhancing results at the workplace, motivation plays an all-important role. In this compilation of best quotations online, we have brought wisdom quotes for modern entrepreneurs.

A budget tells us what we can’t afford, but it doesn’t keep us from buying it. – William Feather

A cardinal principle of Total Quality escapes too many managers: you cannot continuously improve interdependent systems and processes until you progressively perfect interdependent, interpersonal relationships. – Stephen Covey

A group or an artist shouldn’t get his money until his boss gets his. – Bobby Darin

About the time we can make the ends meet, somebody moves the ends. – Herbert Hoover

All lasting business is built on friendship. – Alfred A. Montapert

Almost all quality improvement comes via simplification of design, manufacturing… layout, processes, and procedures. – Tom Peters

An advertising agency is 85 percent confusion and 15 percent commission. – Fred Allen

An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today. – Laurence J. Peter

An economist’s guess is liable to be as good as anybody else’s. – Will Rogers

And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. – Andrew Carnegie

Anyone who has lost track of time when using a computer knows the propensity to dream, the urge to make dreams come true and the tendency to miss lunch. – Tim Berners-Lee

As a small businessperson, you have no greater leverage than the truth. – John Greenleaf Whittier

Tags: advertising agency, best quotations online, business, motivation, wisdom quotes

In this YouTube video, you will learn how to install Wordpress Plugin to your blog. These plugins are one of the most important things that every blogger should use to enhance the functionality, features, and presence of his or her blog.

Tags: blog, how to install Wordpress Plugin, YouTube video

The Business Standard newspaper reported on Monday quoting Finance Minister Pranab Mukherjee that the Reserve Bank of India (RBI) might not increase its key lending rate further as it will impact growth.

“As far as tightening monetary policy is concerned, if these policies need to be extended, then it will have some impact on overall growth scenario. But I am optimistic that it will not have to be extended,” the paper quoted Mukherjee as saying in Kolkata.

From in.finance.yahoo.com:

Mukherjee said food inflation would settle at 6-7 percent by the end of the current financial year in March, according to the report.

India’s food price index rose 10.05 percent, its highest in nearly six months, and the fuel price index climbed 12.55 percent in the year to Aug. 20.

Gross domestic product growth in Asia’s third-largest economy slipped to 7.7 percent in the three months through June, slightly exceeding the median forecast in a Reuters poll for an annual rise of 7.6 percent.

The next rate setting meet of the RBI is scheduled on Sept 16.

Tags: Gross domestic product, inflation, lending rate, monetary policy, RBI

When it comes to living life to the fullest without any inhibitions, live positive quotations can make a lot of difference. Access some of the best quotations online now!

Winning is not a sometime thing; it’s an all time thing. You don’t win once in a while, you don’t do things right once in a while, you do them right all the time. Winning is habit. Unfortunately, so is losing. – Vince Lombardi

In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential. It’s no different in the financial realm. – Suze Orman

The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools. – Confucius

The first one gets the oyster the second gets the shell. – Andrew Carnegie

Hire character. Train skill. – Peter Schutz

The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency. – Bill Gates

Look well to this day. Yesterday is but a dream and tomorrow is only a vision. But today well lived makes every yesterday a dream of happiness and every tomorrow a vision of hope. Look well therefore to this day. – Francis Gray

Surviving a failure gives you more self-confidence. Failures are great learning tools.. but they must be kept to a minimum. – Jeffrey Immelt

Whatever the mind of man can conceive and believe, it can achieve. Thoughts are things! And powerful things at that, when mixed with definiteness of purpose, and burning desire, can be translated into riches. – Napoleon Hill

Tags: best quotations online, live positive quotations, technology

Full-service airlines of India that have been buffeted by high fuel costs and intense competition are facing new headwinds on their lucrative international routes as budget carriers launch services with rock-bottom fares.

These airlines are being forced to respond with similar no-frills offerings on popular and profitable routes as low-cost carriers are introducing routes using narrow-body aircraft to overseas destinations within five hours flying time of India.

From in.finance.yahoo.com:

Budget airline IndiGo, which in June firmed up a $16.2 billion order for 180 single-aisle Airbus aircraft, has received government approval to fly to Singapore, Bangkok, Dubai and Muscat, and is luring passengers with round-trip fares as low as 9,999 rupees ($220).

By comparison, full service carriers charge between 17,000 and 22,000 rupees for economy class Mumbai-Singapore routes booked a month in advance.

“The entry of IndiGo will help in growing the market. Low cost carriers are creating a new market with a new breed of customers who did not fly international earlier,” said Kapil Kaul, chief executive for the Indian subcontinent and Middle East at the Centre for Asia Pacific Aviation (CAPA).

“Low cost carriers are much better poised to take advantage of the growth, because India is a very price-sensitive market,” SpiceJet CEO Neil Mills told Reuters.

Tags: airlines of India, budget carriers