Business » World

Friday, 17 July 2009

China won't tolerate Aussie lectures on Rio 'spy' affair

2009-07-17 CHINA warned Australia yesterday not to interfere in the case of a detained Rio Tinto executive, as the two sides stepped up their diplomatic war of words in the sensitive "spy" affair.After Australia's top leaders repeatedly said the...

'Durable' signs of stability in US

2009-07-17 US TREASURY Secretary Timothy Geithner said yesterday he saw "durable, very important signs" of confidence and stability in the US financial system.Speaking after a meeting with French Finance Minister Christine Lagarde and Prime Minister...

IATA expects upturn at year-end

2009-07-17 AIRLINES have reverted to pessimism about business prospects and do not expect any improvement in international air travel until the end of 2009, IATA said yesterday.The global recession has been cited as the main reason for deteriorating demand,...

China GDP surge fans hope

2009-07-17 CHINA'S economic growth rate shot up in the second quarter fuelled by state spending and bank lending, boosting hopes the biggest emerging economy will lead the way out of the worst global downturn since the 1930s.A business survey in Japan, Asia's...

Reforms fail to prod M'sia economy

2009-07-17 MALAYSIA'S recent liberalisation moves are having little immediate success in reviving the economy, a leading think tank said yesterday as it downgraded its 2009 growth forecast.The influential Malaysian Institute of Economic Research (MIER) cut its...

Stocks up on US jobless data, JPMorgan

2009-07-17 EUROPEAN stock markets rose further yesterday after US jobless claims numbers fell by more than anticipated in the last week reinforcing optimism that the world's largest economy may soon be growing.In Europe, the FTSE 100 index of leading British...

'S'pore doesn't need more stimulus moves'

2009-07-17 SINGAPORE does not see a need to introduce further stimulus measures as its economy is stabilising, its trade minister was quoted yesterday as saying. "With the situation stabilising as we see it, (another stimulus) is not on the cards at the...

Thursday, 16 July 2009

World needs fair economics

2009-07-16 NAM leaders bash 'illogic' of international economic order THE world needs a financial system that is fairer to developing states which have suffered most in a crisis caused by rich countries, leaders from a group of developing states said yesterday...

Rudd warns China over Rio 'spy'

2009-07-16 AUSTRALIAN Prime Minister Kevin Rudd yesterday warned China it had economic interests at stake in the case of a mining executive held on spy claims, taking a tough new line in the escalating row.But Beijing insisted trade relations would not be...

OECD trade shows signs of rebound

2009-07-16 THE decline in the value of trade in the world's major industrialised economies began to slow in the first four months of 2009, though volumes continued to fall at double digit rates in the first quarter, the OECD said yesterday. "Since July...

China FX reserves hit record US$2.13t

2009-07-16 CHINA'S foreign exchange reserves surged to a record US$2.13 trillion at the end of June, the central bank said yesterday, as money poured into the country while the economy strengthened.The reserves, already the world's largest, grew by US$185.6...

BUSINESS BRIEFS

2009-07-16 Carbon tariffs a 'veil for protectionism'BEIJING: China said it was against proposals to impose "carbon tariffs" on goods manufactured in the developing world, saying such moves were a pretext for trade protectionism. Any such laws, which have been...

US recovery hopes boost world stocks

2009-07-16 WORLD stock markets rose sharply yesterday while the US dollar fell, as mounting signs of imminent US economic growth fuelled demand for riskier assets.In Europe, the FTSE 100 index of leading British shares was up 78.52 points, or 1.9 per cent, at...

S'pore retail sales fall 10%

2009-07-16 SINGAPORE retail sales dropped for an eighth consecutive mouth in May as recession-weary shoppers stayed away from big-ticket items such as cars and jewellery.The statistics department said yesterday that retail sales fell 10.3 per cent from a year...

Japan, China relax stimulus

2009-07-16 JAPAN and China's central banks yesterday flagged the need to rein in emergency stimulus for the economy, concerned to keep a fragile recovery on track without stoking future inflation of prices.The Bank of Japan extended its crisis funding support...

British jobless rate strikes 7.6%, highest recorded in 12 years

2009-07-16 BRITAIN'S unemployment rate surged to 7.6 per cent of the work force in May, the highest level since Labour won power in 1997, official data showed yesterday, baring the depths of damage from the global financial crisis.The unemployment rate struck...

Big game names muscle in on iPhone upstarts

2009-07-16 AS THE iPhone (picture) becomes a popular mobile gaming device, large game publishers with deep pockets are going head-to-head with smaller developers who found early success on the Apple Inc phone.With name recognition and financial resources,...

Jaguar to stop making X-Type

2009-07-16 LUXURY carmaker Jaguar, owned by India's Tata Motors, announced yesterday it would end production of its X-Type car by the end of the year with the loss of up to 300 jobs.The news is a huge blow for its Halewood factory in Liverpool, which is also...

Wednesday, 15 July 2009

Lexus: Fully booked for 6 months

2009-07-15 TOYOTA MOTOR CORP launched its first dedicated hybrid model under the premium Lexus brand yesterday, saying it had received orders worth six months of targeted sales in Japan.The launch of the HS250h sedan marks the latest push by the world's...

Markets to 'turn positive' in 2010: OPEC

2009-07-15 WORLD oil demand is "settling down" this year in line with the global economy and is expected to "turn positive in 2010", the OPEC oil producers' cartel said yesterday. "World oil demand is settling down in line with the...

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