IN BRIEF

Saturday, March 17, 2012

Thai inflation not a problem for now

BANGKOK: Inflation in Thailand will not be a severe problem over the next six months and there is no need to use interest rates or other measures to tackle it, the central bank governor said yesterday. Bank of Thailand Governor Prasarn Trairatvorakul told reporters inflation was being driven by higher global oil prices but the central bank did not believe they would stay at current high levels for a long time. "I've tried to send signals that inflation is no cause for concern from now until the third quarter," he said. "Inflation expectations are still stable, so we think there is no need for any special measures to handle it."!

Recovery of Malaysia Airlines 'top priority'

KUALA LUMPUR: The Board of Malaysia Airlines is confident that the Comprehensive Collaboration Framework (CCF) will benefit both Malaysia Airlines and AirAsia by promoting synergies in many areas. In a statement, Malaysia Airlines chairman Tan Sri Md Nor Yusof said MAS is in the process of setting up joint-venture companies for procurement and training as well as a potential maintenance service provided by Malaysia Airlines Engineering for the AirAsia fleet.

China February social financing rises

BEIJING: China's total social financing, a broad measure of liquidity in the economy, hit 1.04 trillion yuan (US$164.3 billion) in February, the central bank said yesterday, up 391.2 billion yuan from a year earlier. The Chinese government created the aggregate measure in 2011 to better capture the overall level of money supply in the world's No. 2 economy, after an array of alternative financing outside banks made traditional credit measures incomplete. Social financing measures a wide range of credit sources including bank loans, off balance-sheet lending by banks and initial public offerings.!

Kingfisher shares jump on hope of recovery

MUMBAI: Shares of India's cash-strapped Kingfisher Airlines rose nearly seven percent in morning trade yesterday, after chairman Vijay Mallya promised a full recovery plan for the carrier. Kingfisher rose as much as 6.45 per cent to a day's high of 22.25 rupees at the Bombay Stock Exchange on hopes that the airline, hit by a cash-crunch and a pilot agitation, would be able to ride out a crisis. Kingfisher also hopes to resolve issues with the International Air Transport Association which had suspended the airline from its global settlement system for non-payment of dues. Agencies


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