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Tuesday, 17 November 2009

Traders take Apec cue to sell dollar

2009-11-17 THE dollar weakened yesterday as traders took a lack of agreement on currencies among Asian and US leaders as a cue to sell the greenback, particularly against more freely floating currencies like the euro. The dollar also came under selling...

Boeing, Airbus to launch new models by year end

2009-11-17 BOEING and Airbus, hurt by delays in new models, are vowing to get the overdue 787 Dreamliner and A400M military transport plane into the air by year end. The maiden flights would offer a welcome boost for the world's top two planemakers, which are...

WORLD BUSINESS IN BRIEF

2009-11-17 Russia may scrap glass skyscraper projectMOSCOW: Prime Minister Vladimir Putin, an early supporter of a controversial project to build St Petersburg's first glass skyscraper, is now expected to scrap it because of mounting opposition at home and...

Business travellers fill up hotel rooms in Zimbabwe

2009-11-17 OCCUPANCY rates at hotels in Zimbabwe, especially those for businessmen, have trebled since last year, pointing to signs of life in the battered African economy, the country's industry chief said today. The improvement supports the claims of...

Interest heightens for second Iraq oil bid

2009-11-17 IRAQ expects strong competition at the next round of bidding by international oil firms in December seeking to invest in its vast reserves, Oil Minister Hussein Shahristani said today.The bidding will take place "as planned on December 11 and...

Monday, 16 November 2009

Shopping booms online as retailers face sluggish sales

2009-11-16 THE Internet global supermarket is booming because people and businesses are looking for bargains and new outlets in bad times, a new report says.And this great global shopping mall can only expand rapidly as mobile phone use explodes, the Chinese...

WORLD BUSINESS IN BRIEF

2009-11-16 Islamic bank pledges US$1b to aid farmersROME: The Islamic Development Bank announced yesterday an extra US$1 billion dollars to support farmers in developing countries in a project with the UN food agency, the agency said. The Food and Agriculture...

Palm oil to fuel plant heating German homes

2009-11-16 DESPITE adverse publicity on palm oil, the commodity has proven its efficiency as a fuel to supply heat to nearly 35,000 German homes.A combined heat and power plant operated by Vattenhall Europe at Weigandufer, near here, has been running on...

Slovenia joins Russia-Europe South Stream gas project

2009-11-16 SLOVENIA signed an agreement on Saturday for the massive South Stream gas pipeline from Russia to Europe to pass through the country.Prime Minister Borut Pahor and his Russian counterpart Vladimir Putin witnessed the accord signed by their...

Yuan, low US interest rates cloud Obama's China visit

2009-11-16 THE United States and China sparred over exchange rates at a meeting of Asia Pacific leaders yesterday, pointing to tricky talks ahead for President Barack Obama when he flies to China to address economic tensions.The discord surfaced at a summit of...

Sunday, 15 November 2009

No big spending at Dubai Airshow

2009-11-15 THE Dubai Airshow opens today with some analysts doubting that Gulf carriers, big spenders in recent years, will be doing much big-ticket buying but with organisers cautiously optimistic.Rupinder Vig, an analyst at Morgan Stanley, said "this...

US oil inventories glut a cause for concern

2009-11-15 OIL prices on Friday touched the lowest level in a month as bulging fuel inventories in the United States stirred demand concerns. US crude futures traded down 59 cents to US$76.35 a barrel by 2:28 EST pm. (1928 GMT), after earlier touching US$75....

No glad tidings as Buffett's businesses bottomed

2009-11-15 BILLIONAIRE Warren Buffett said that while his businesses have bottomed after the worst financial crisis in decades, he saw few upticks and ruled out a buoyant holiday season.Consumer demand will recover and it is likely that the economy would come...

Toyota allocates US$5.6b for recalls

2009-11-15 TOYOTA Motor Corp will soon offer to fix the accelerator pedals of up to four million vehicles in the United States, Kyodo News reported yesterday. Toyota is believed to have agreed with US authorities to voluntarily repair the accelerator pedals,...

Sovereign funds can play big role in economic recovery

2009-11-15 SOVEREIGN wealth funds told Pacific Rim political leaders yesterday they could play an important role in the global economic recovery if countries did not obstruct their investments.Some of the world's biggest state funds from Asia, Kuwait and...

WORLD BUSINESS IN BRIEF

2009-11-15 Opel turnaround to cost GM twice as muchBERLIN: General Motors will have to spend at least twice the €3 billion (US$4.5 billion) it is budgeting to turn around its European unit Opel/Vauxhall, a union chief predicts. "I think that a...

Saturday, 14 November 2009

WORLD BUSINESS IN BRIEF

2009-11-14 Opec boss expects no output change in Dec LUANDA: Opec should keep oil production unchanged at its last meeting of the year in December due to high oil stocks and weak fundamentals in the global economy, the group's president yesterday said. Jose...

British Airways, Iberia to merge

2009-11-14 BRITISH Airways PLC and Spanish airline Iberia SA said late Thursday they have reached an agreement to form a new company in which BA would hold a controlling 55 per cent.The two companies, which together posted US$22 billion in revenues last year,...

M'sia to revise fuel subsidy from Q2 2010

2009-11-14 MALAYSIA will revise the way it pays fuel subsidies, a heavy drain on its budget, from the end of the second quarter next year, a senior finance ministry official said yesterday. "We will start doing that towards the end of second quarter of...

Trans-Pacific trade deal model for Apec's own FTA

2009-11-14 CAUTIOUS but optimistic. This has been the defining mode here in Singapore as top leaders and officials from 21 countries congregated to discuss global economic recovery, trade, investment and the breaking of all sorts of barriers, political...

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