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Wednesday, 18 February 2009

Apec to set up crisis response info exchange

2009-02-18 THE Asia-Pacific Economic Cooperation (Apec) secretariat has been directed to set up an information sharing mechanism to allow economies to share best practices in policy responses and identify possible areas for policy coordination and cooperation...

New products show rivalsplaying catch-up with Apple

2009-02-18 IF IMITATION is the sincerest form of flattery, there can be no higher tribute to the influence of US technology group Apple than a walk around the Mobile World Congress this year.The Californian group, like previous years, has stayed away from the...

BUSINESS BRIEFS

2009-02-18 br />Brazil mulls contesting Buy AmericanBRASILIA: Brazil may challenge the legality of a "Buy American" clause in the recently approved US economic stimulus package at the World Trade Organisation, Brazilian Foreign Minister Celso...

China rejects protectionism

2009-02-18 WHAT's the attitude of Chinese Government towards trade protectionism amid the global financial crisis?Trade protectionism measures have seriously destabilised international trade. Trade protectionism, with state interventions in trade conduct and...

S'pore GIC losses about S$50b: Sources

2009-02-18 GOVERNMENT of Singapore Investment Corp, which has helped bail out troubled global financial institutions, suffered an investment loss of about S$50 billion (US$33 billion) last year, sources told Dow Jones Newswires yesterday.In late 2007 and early...

Window-shoppers throng Jakarta malls

2009-02-18 WITH opulent attractions from children's rides and slippery slides to faux-European boulevards, the massive malls of Indonesia's capital are attracting plenty of visitors but few buyers.Strolling past slick glass shopfronts in the exclusive Plaza...

IMF says crisis rescue actions foundering

2009-02-18 THe IMF warned yesterday that official economic recovery efforts were foundering, undercut by blighted bank balances, as US President Barack Obama prepared to sign a huge new spending plan to salvage the US economy.With financial turmoil worsening,...

Tuesday, 17 February 2009

Indonesia to decree 'buy local'

2009-02-17 INDONESIAN civil servants will be ordered to buy locally made products for everything from clothes to movies under rules intended to boost demand amid the global economic crisis, a senior official said yesterday."This is an effort for coping...

Asia struggles to spend way out of gloom

2009-02-17 ASIANS should raid their piggy banks and go shopping if the region wants to dodge the worst fallout from the global economic crisis, but analysts doubt entrenched saving habits can be broken.As the global slowdown has spread across the region, the...

India sees spending lift to fight crunch

2009-02-17 INDIA'S government projected spending may have to jump later this year to shield the economy from a global slump and stem job losses, fueling fears of a spiralling fiscal deficit that is headed for a seven-year high.Acting Finance Minister Pranab...

Malaysia needs US$11b stimulus to avoid recession

2009-02-17 MALAYSIA needs at least RM40 billion (US$11 billion) in increased spending to avert a recession, a research group said yesterday.Deputy Prime Minister Najib Razak will introduce a "mini-budget" in Parliament on March 10 to boost the...

BUSINESS BRIEFS

2009-02-17 Apec warns against trade restrictionsSINGAPORE: Senior officials of the Asia Pacific Economic Cooperation (Apec) yesterday stressed the importance of averting pressure on governments to take measures restricting trade by helping individuals and...

Thailand airports lost US$48m amid blockade

2009-02-17 THAILAND'S airports announced a loss of US$48 million in the last quarter of 2008 amid a blockade of its two Bangkok hubs and a poor global economic climate, the airport authority said yesterday.Airports of Thailand (AoT) issued a statement...

No take off for 17 SIA aircraft as outlook darkens

2009-02-17 SINGAPORE Airlines plans to cut its capacity by 11 per cent in the year from April as travel and cargo demand wanes, and has begun talks with trade unions in an effort to avoid layoffs.The world's biggest airline by market value said yesterday it...

Stocks, euro fall on banking fears, Japan economic data

2009-02-17 WORLD stocks and the euro fell yesterday while safer government bonds rose as dismal Japanese growth data and fresh concerns about the financial sector fanned worries about the deteriorating global economy.Data showed Japan's economy sank deeper...

Buy American clause bothers China deeply

2009-02-17 CHINA said yesterday it was deeply concerned over trade protectionist measures a range of countries were adopting amid the economic crisis, singling out the United States for special criticism.Following a "Buy American" clause in the huge...

Japan crisis worst since WWII

2009-02-17 JAPAN'S economy contracted at the fastest pace in 35 years in the fourth quarter as a collapse in export demand drained life from the world's second-biggest economy.Japan's gross domestic product, or the total value of the nation's goods and...

Risk of oil supply crunch seen from 2010

2009-02-17 THE International Energy Agency (IEA) said yesterday there could be an oil supply crunch from 2010 once global demand recovers and the impact of delayed investment crimps future supplies.The agency, which advises 28 industrialised countries, is...

Monday, 16 February 2009

Obama to sign stimulus bill on Tuesday

2009-02-16 PRESIDENT Barack Obama will sign the US$787 billion economic stimulus bill on Tuesday in Denver, a White House official said on Saturday.Obama on Saturday hailed congressional approval of the stimulus bill as a "major milestone on our road to...

Philippine tuna industry caught in crisis

2009-02-16 LITO Vargas surveys the day's catch of yellowfin tuna as they slide down the steel gutting table at the bustling port at General Santos city in the southern Philippines."We used to haul them in such big numbers once but now the catch has...

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