Business » World

Wednesday, 1 April 2009

BUSINESS BRIEFS

2009-04-01 br />Google launches venture capital fundWASHINGTON: Google is searching for good ideas. The Internet search giant has announced the launch of a venture capital fund to back "young companies with truly awesome potential". Google...

Japan jobless hits 3-yr high

2009-04-01 JAPAN'S unemployment rate hit a three-year high of 4.4 per cent in February, the government said yesterday, as the deepening recession tightened its grip on Asia's largest economy.Consumer spending meanwhile fell 3.5 per cent month on month in the...

Tuesday, 31 March 2009

FAO: food security still a problem

2009-03-31 A FALL in grain prices has led to the impression that food security is no longer a concern, but the number of people without enough to eat is still rising in a world facing recession, the United Nations yesterday said. "The level of prices is...

US auto sector woes drag down stocks

2009-03-31 EUROPEAN and Asian stock markets yesterday dived as fresh woes for the global auto sector and extremely weak economic data triggered a rush to dump shares, traders said.Tokyo closed down 4.53 per cent as bad industrial and auto production data fed...

US$50 oil good for now: Opec

2009-03-31 GULF Opec producers see an oil price of about US$50 a barrel as good enough for now given the global economic slowdown and the seasonal fall in fuel demand, a senior Gulf OPEC delegate said. It was too soon to say if the Opec needed to cut output at...

M'sia bourse eyes syariah short-selling platform

2009-03-31 MALAYSIA'S stock exchange plans to launch a platform to facilitate regulated Islamic short-selling and hedge fund activities towards the end of the year, the bourse's head said yesterday.Short-selling the sale of borrowed stock with a view to...

Japan factory output plummets

2009-03-31 JAPAN'S factory output and auto production have plunged for a fifth straight month, data showed yesterday, as the government pledged to revive the recession-hit economy with more stimulus spending.As demand for Japanese goods dried up at home and...

OECD fears 4.3% contraction in 2009

2009-03-31 THE Organisation for Economic Cooperation and Development yesterday urged "quick and decisive action" to restore global growth while warning that the OECD economies may shrink 4.3 per cent this year.OECD chief Angel Gurria made the new...

Proton, Dutch firm to produce electric cars

2009-03-31 MALAYSIA'S national carmaker Proton and a Dutch-based company signed a US$555 million ($845.3 million) deal yesterday to make zero emission electric cars that they said would be more powerful that any existing model.Proton and Detroit Electric, a...

IMF reform looms large

2009-03-31 THE International Monetary Fund says it needs a huge cash injection to help countries battered by the global economic crisis, but reform of the institution will loom large at this week's G20 summit.The IMF, which is predicting that this year will...

BUSINESS BRIEFS

2009-03-31 Crisis to dominate Asean summitBANGKOK: Southeast Asian nations and key regional partners will focus on the global financial crisis at a summit in Thailand next week, a senior Thai official said yesterday. Asean leaders will meet counterparts from...

Takaful to see 17% growth over 3 years

2009-03-31 THE Islamic insurance or takaful industry will see double-digit growth in the next three years, slowed only slightly by the financial crisis, a leading industry official said yesterday.Takaful business was expected to grow 17 per cent a year over...

HK tycoon's will forged, says lawyer

2009-03-31 A LAWYER for the family of late tycoon Nina Wang (picture) yesterday said he had proof that a will granting billions to her feng shui master was forged, heating up the bitter legal battle for one of Asia's largest fortunes.Wang, formerly Asia's...

US takes hardline in automakers bailout

2009-03-31 THE Obama administration yesterday seized the wheel of the failing US auto industry, forcing out General Motors Corp's chief executive, pushing Chrysler LLC toward a merger and threatening bankruptcy for both.The moves came after Europe's second-...

Monday, 30 March 2009

India diamond industry workforce halved

2009-03-30 INDIA'S diamond industry has shed 50 per cent of its labour force as export orders dry up with the global financial crisis crippling demand for precious stones, trade officials say.Eight out of 10 of the world's diamonds are processed in the busy...

China food scare lifts Thai exports to Japan

2009-03-30 THAILAND'S food exports to Japan rose 30 per cent last year, benefiting from the Japanese market's health concerns about Chinese imports, media reports said yesterday. Thai exports to Japan in 2008 were valued at 100 billion baht (US$2.8 billion)...

BUSINESS BRIEFS

2009-03-30 Sinopec Q4 profit nearly doublesHONG KONG: Top Asian oil refiner Sinopec Corp posted a near doubling in quarterly profit yesterday thanks to state handouts and a steep decline in crude oil prices that restored refining profits, but it warned of a...

Luxury boat sales in Mideast flounder

2009-03-30 SALES of luxury and leisure vessels are on the rocks in the Middle East, where owning a boat for cruising, entertaining or fishing is seen as a status symbol, industry officials say.Marine consultant Mike Derrett estimates that boat sales in the...

Crisis triggers huge job cuts in Philippines, M'sia

2009-03-30 THE global economic crisis has resulted in massive job cuts in the Philippines and Malaysia with many employers forced to shed jobs to cope with loss of revenues.More than 26,000 people have lost their jobs in Malaysia so far this year as the...

Jobless rate could near 10% by 2010: OECD

2009-03-30 UNEMPLOYMENT may near 10 per cent in the Organisation of Economic Cooperation and Development except Japan by 2010, the OECD said in a paper released yesterday."By the end of 2010, the unemployment rates could be approaching a double-digit...

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