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Thursday, 4 April 2013
IMF team in Cairo for talks on US$4.8b loanCAIRO: A delegation from the International Monetary Fund (IMF) has arrived in Egypt for talks on a US$4.8 billion loan to ease an economic crisis in the most populous Arab country, state news agency MENA...
CYPRIOT President Nicos Anastasiades warned yesterday of "difficult days ahead" as he swore in a new finance minister for an island struggling to recover from a near financial meltdown and the need for a crippling eurozone bailout....
CHINA and Australia will launch direct trading between the two currencies in Shanghai and Sydney within weeks to lower trade transaction costs, a foreign bank source with direct knowledge of the matter told Reuters yesterday.The new currency deal...
RICH countries applying budget austerity cut their aid to developing countries by 4.0 per cent last year, the OECD said on Wednesday, with the poorest countries taking the brunt of the cutbacks.Development aid from the OECD's 34 member countries has...
FORMER Prime Minister Tun Abdullah Ahmad Badawi (pictured) revealed today plans for a US$500 million private equity fund to focus on global opportunities in the halal industry.The fund will be raised in stages over the next three years by Azka...
Wednesday, 3 April 2013
MOST South Korean central bank board members voted in March to keep rates unchanged for a fifth consecutive month as they saw the economy recovering, albeit slowly, according to meeting minutes released on Tuesday.Six of the Bank of Korea's seven...
FRANCE'S revamped 75-per cent supertax on salaries above 1 million euros will apply to all companies, an official in the prime minister's office said yesterday, rejecting suggestions that soccer clubs would be exempt.President Francois Hollande last...
JAPAN'S government yesterday approved a long-sought plan to open up its power industry after the 2011 Fukushima nuclear disaster renewed calls for more competition in the sector.The reforms, which still need approval from parliament, would be the...
Oil steady after US manufacturing slowsBANGKOK: The price of oil was steady yesterday after data showed US manufacturing growth slowed in March. Benchmark oil for May delivery was up 3 cents to US$97.10 per barrel at late afternoon Bangkok time in...
THE International Monetary Fund could change the size of a US$4.8 billion financing programme for Egypt, its Middle East director said on Tuesday ahead of fresh talks in Cairo on the package in the coming days."The size may vary. It's a...
THE downturn in the 17-nation eurozone's manufacturing sector deepened sharply in March, with even powerhouse economy Germany dragged down, a survey showed yesterday. The Markit Eurozone Manufacturing Purchasing Managers Index fell to 46.8 points in...
THE European Central Bank this week will try to calm investors worried about the euro zone crisis flaring up again, pledging to keep the banking system lubricated after Cyprus's brush with financial meltdown.The central bank is widely expected to...
CYPRIOT Finance Minister Michael Sarris (pic) quit yesterday after concluding talks with foreign lenders on a bailout that forced the island to slap unprecedented losses on bank depositors in return for aid.The news came after Cyprus announced a...
A CHINESE tanker loaded crude in Iran in March, according to shipping data and an industry official, the first time a China-flagged ship has transported Iranian crude since EU sanctions imposed last July stopped insurers covering the shipments.The...
CHINA will expand an urban regeneration plan for ageing industrial cities as part of efforts to restructure the economy and promote more sustainable growth, the National Development and Reform Commission said on Tuesday.The plan, to run from 2013 to...
THE Bank of Japan's new chief said yesterday policymakers would live up to market expectations for "bold" monetary easing, ahead of his first policy meeting since taking up the post last month.The two-day meeting, which starts Wednesday,...
GREECE'S central banker has forecast that an eagerly-awaited recapitalisation of the country's crisis-hit leading banks could be delayed by a few weeks to May."The recapitalisation will be over in a few weeks," Bank of Greece governor...
APPLE chief executive Tim Cook has apologised to Chinese consumers after the US technology giant was subjected to a barrage of criticism in state-run media over alleged "arrogance" and double standards.China is Apple's second-biggest...
Tuesday, 2 April 2013
THE number of foreign women tourists visiting India has dropped by 35 per cent in the past three months following a spate of sex attacks that have made global headlines, a new survey has found.The Associated Chambers of Commerce and Industry of...
THE Thai government will limit the amount of rice it buys from farmers during the forthcoming off-season crop, a move that traders and industry officials said was forced on it because it is running out of warehouse space and costs are rising.The...
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