Business » World

Saturday, 7 March 2009

1997 crisis may visit Asia again

2009-03-07 ASIA'S industrialised countries may be confronted with a return to problems faced in the 1997/98 financial crisis unless demand for their exports in Europe and the United States improves, a senior World Bank economist said.Most Asian economies...

China sees signs of economic recovery

2009-03-07 CHINA served glum markets a dose of optimism yesterday, saying its economy was recovering and promising more swift action to absorb the shock of the global financial crisis and deepening recession in rich nations.Top Chinese officials said...

US First Lady serves at soup kitchen

2009-03-07 HUNDREDS of down and outs at a local soup kitchen saw their luck change briefly on Thursday when they spotted First Lady Michelle Obama dishing out mushroom risotto during a surprise visit.For about 15 minutes, Obama scooped steaming hot food onto...

Philippine mining sector hit by financial crisis

2009-03-07 MINING companies in the Philippines are cutting staff, putting some projects on hold and scrambling for cash as the global crisis financial drags down commodities prices, industry officials say.The economic slowdown could not have come at a worse...

Friday, 6 March 2009

Economist to fold Asia mags

2009-03-06 THE London-based Economist Group, half owned by a unit of Pearson Plc, will this month close down its CFO magazine business in Asia, as the global financial crisis squeezes advertising revenue.The decision to shut the English-language CFO Asia and...

Bank of England 'prints' cash to spur lending, fight recession

2009-03-06 THE Bank of England launched a "quantitative easing" policy yesterday to pump new money into the economy, using a radical route to break the credit crunch, stimulate bank lending and fight recession.With interest rates close to zero,...

Malaysia tables US$2.69b spending plan

2009-03-06 MALAYSIA yesterday tabled in parliament plans for a RM10 billion (US$2.69 billion) spending plan to help bolster the economy amid fears it is on the brink of an economic recession.The new stimulus package, also called a mini-budget, follows a RM7...

Possible GM bankruptcy hits stocks

2009-03-06 WORLD stocks and oil fell yesterday after General Motors warned of possible bankruptcy, while European currencies and yields stayed weak after the euro zone and UK central banks cut interest rates.US automaker GM said it had substantial doubts about...

Crisis hurts men more than women

2009-03-06 THE world's economic crisis has cost more men their jobs than women in Western countries, the International Labour Organisation (ILO) said.The male jobless rate in developed economies rose 1.1 percentage points to 6.6 per cent in 2008, the year when...

Malaysia mulls bridge linking Sabah, Labuan

2009-03-06 THE federal government is willing to consider building a bridge to link Labuan island with mainland Sabah, Datuk Seri Abdullah Ahmad Badawi said yesterday.Towards this end, the prime minister asked the Economic Planning Unit to conduct a feasibility...

No bottom in sight for Japan

2009-03-06 JAPAN said yesterday there was no bottom in sight for Asia's biggest economy as a record slump in business investment raised fears that its recession is the deepest since World War II.Japanese companies slashed their investment in plants and...

US home foreclosure relief plan

2009-03-06 THE Obama administration has launched a US$75 billion foreclosure relief plan, as new data showed one in five US homeowners with mortgages owe more than their house is worth.The mortgage plan, part of a US$275 billion housing stimulus programme...

Taiwanese president says Beijing trade deal talks possible in spring

2009-03-06 TAIWANESE President Ma Ying-jeou said yesterday that a possible trade agreement with rival China could be discussed this spring, the first time he has put a time frame on negotiations for the politically contentious deal.The "Economic...

China confident of growth view

2009-03-06 A CONFIDENT Chinese Premier Wen Jiabao said yesterday his country could still post eight per cent economic growth in 2009 despite the global meltdown, as grim US data hinted at a prolonged recession.Although Wen admitted the world's third-biggest...

S'pore economy to shrink 10%

2009-03-06 SINGAPORE'S economy may contract by as much as 10 per cent this year if exports continue to fall sharply, the country's influential founding father Lee Kuan Yew said in remarks published yesterday.If exports drop by another 30 or 40 per cent in the...

BUSINESS BRIEFS

2009-03-06 br />Putin warns of new Ukraine gas crisisMOSCOW: Russian Prime Minister Vladimir Putin warned yesterday that Moscow would again cut off gas supplies to Ukraine and possibly Europe if Kiev does not pay off its latest debts by the weekend. His...

Thursday, 5 March 2009

Crisis takes sovereign wealth fund GIC 25% off its peak

2009-03-05 THE portfolio of Singapore's sovereign wealth fund GIC has fallen about 25 per cent from its peak due to the financial crisis, but it can weather the storm for 10 years if necessary, the city-state's most influential minister said.Lee Kuan Yew said...

Aussie woes stoke global recession fears

2009-03-05 THE first contraction in Australia's economy for eight years sent shockwaves through markets yesterday, after the US unveiled a credit drive to stem a crisis that shows no sign of relenting.Dashing hopes Australia could avoid the global recession,...

M'sia on brink of recession on weak exports

2009-03-05 MALAYSIA stands on the brink of recession as falling demand hits exports and manufacturing with growth expected to reach just 0.5 per cent for the year, an independent think tank said yesterday."We forecast the economic growth for the first...

AirAsia offers 200 free seats to London as price war rages

2009-03-05 LOW-COST carrier, AirAsia, will be giving away 200 free seats to London in conjunction with its global countdown campaign to commemorate its inaugural flight to London scheduled for March 11 this year.Its low-cost long-haul carrier, AirAsia X, would...

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