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Saturday, 25 April 2009

Financial crisis deepens with bleak data from Europe, Japan

2009-04-25 BRITAIN'S recession deepened yesterday and Japanese banking giant Nomura posted a record loss as world finance chiefs gathered in Washington to hash out plans for rescuing the global economy.In Britain, the government's hopes of a quick recovery...

Finance chiefs to draw up crisis response

2009-04-25 THE finance chiefs of the Group of 20 rich and developing countries were scheduled to meet yesterday to try to fine-tune their responses to the global economic crisis after their crunch summit in London.The meeting will be preceded by that of the...

German business survey, Ford boost stocks

2009-04-25 WORLD stocks and the euro rose yesterday after better-than-expected Ford Motor results and an upbeat key German corporate sentiment survey, while disappointing UK growth data knocked sterling.Ford posted a smaller-than-expected first-quarter loss,...

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2009-04-25 br />Revamp bond plan, IMF urgedWASHINGTON: Brazil and other emerging economies are willing to provide additional financing to the International Monetary Fund but they are still not happy with the capitalisation mechanism proposed by the...

China unveils pot of gold reserves

2009-04-25 CHINA revealed yesterday that it had secretly raised its gold reserves by three-quarters since 2003, increasing its holdings to 1,054 tonnes and confirming years of speculation it had been buying.Hu Xiaolian, head of the State Administration of...

Geely: We're not copying Rolls-Royce

2009-04-25 A CHINESE auto company denied yesterday its new top-of-the-line car was a copy of a Rolls-Royce, but the world renowned luxury brand said it was keeping its options open about taking legal action.Geely Automobile, one of China's major independent...

Friday, 24 April 2009

Stocks up despite mixed profits

2009-04-24 INVESTORS yesterday put aside recent worries about the world economy and banking woes, sending global stocks higher and Wall Street on track for a positive start.Mixed earnings plagued European markets with Credit Suisse posting better-than-...

Net, productivity: A match?

2009-04-24 WORKPLACES that try and stop employees using their computers for blogging, online shopping, social networking and other private purposes might be making a mistake, an Australian researcher says. Around a quarter of Australian firms try and prevent...

M'sia urged to further relax bumi policy

2009-04-24 MALAYSIAN opposition lawmakers and lawyers yesterday called for wider reforms of a mandatory ethnic Malay ownership rule, after the government relaxed the decades-old affirmative action program.Prime Minister Najib Razak announced on Wednesday the...

World Bank allots US$45b Infra fund

2009-04-24 THE World Bank yesterday said it would invest US$45 billion in infrastructure over the next three years to lay a foundation for a "rapid recovery" from the global economic crisis.Robert Zoellick, president of the 185-nation development...

Apple profit beats expectations

2009-04-24 APPLE INC'S quarterly profit soared past Wall Street expectations on strong sales of iPhones and iPods, underscoring the popularity of the company's relatively expensive products even in the midst of a weak economy.Known for giving conservative...

Tycoon drops bid for HK telecom

2009-04-24 A HONG KONG tycoon abandoned his controversial US$2 billion plan to take over the city's biggest telecom company yesterday after a court blocked the deal, handing regulators and minority shareholders a high-profile victory.Richard Li, chairman of...

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2009-04-24 VW mulling Porsche counter bidFRANKFURT: Volkswagen is mulling a takeover of the automotive business of luxury sports car maker Porsche, which would add a new twist in the German industrial saga, press reports said yesterday. Directors of VW are...

Shell, BP profits seen to dive

2009-04-24 ROYAL Dutch Shell Plc and BP Plc are expected to report 70 per cent profit declines next week on lower oil prices, and some analysts expect even worse to come in future quarters.A Reuters poll of seven analysts gave an average forecast of US$2.62...

Turmoil hits Asia's Islamic bond mart

2009-04-24 THE global economic crisis has slowed down the issuance of Islamic bonds in Asia but the market remains resilient, Moody's Investor Service said yesterday.Issuance of the bonds, or sukuk, in Asian currencies totalled US$64.3 billion in 2008, down 1....

Exports, stimulus spending to lift Asia: IMF

2009-04-24 ASIAN economies could see a modest recovery next year, boosted by stronger export demand and stimulus spending, the International Monetary Fund said Wednesday.Trade-driven Asia has been hit harder than expected by the worst global downturn since the...

Thursday, 23 April 2009

New PM unveils M'sia 1st economic reforms

2009-04-23 MALAYSIA'S new prime minister yesterday unveiled a first slice of promised economic reforms, opening up some service sectors to unrestricted foreign investment.Najib Razak, who took office last month, wants to use the current economic downturn to...

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2009-04-23 br />Russia, ex-Soviet region hit by crisisWASHINGTON: Russia and 11 ex-Soviet neighbours face a greater economic reversal than any other part of the world with the regional economy set to decline by 5.1 per cent this year, the IMF said. The ex-...

UK to shrink at fastest rate since 1945

2009-04-23 THE British economy will shrink by 3.5 per cent in 2009, finance minister Alistair Darling said yesterday, the worst performance since World War II, and top earners will face a new 50-per cent tax rate.The finance minister forecast government...

FTSE falls after budget, M Stanley results

2009-04-23 BRITAIN'S top share index retreated in early afternoon trade yesterday after a downbeat UK budget, with insurers knocked by pension relief curbs, while banks saw gains eroded after weak Morgan Stanley results.The FTSE 100 was 21.44 points, or 0.5...

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