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Monday, 12 January 2009

India names new board at Satyam; founders in jail

2009-01-12 INDIA appointed members to the new board of embattled outsourcer Satyam Computer Services yesterday, two days after dissolving the previous board in the wake of the country's biggest corporate scandal. Police charged Satyam chairman Ramalinga Raju...

Gas crisis reignites Europe nuclear debate

2009-01-12 CUTS in Russian gas supplies to Europe via Ukraine have reignited interest in Europe about using nuclear energy as an alternative to hydrocarbons, sparking environmentalists' ire."On nuclear energy, this crisis will have consequences for the...

Bull run over for Singapore property

2009-01-12 THE Year of the Ox begins later this month but the bull run is already over for Singapore's property sector, described as the world's hottest market just two years ago.Prices of private homes fell 5.7 per cent in the fourth quarter, following a 2.4-...

Japan PM in Seoul, aims to boost economic ties

2009-01-12 JAPANESE Prime Minister Taro Aso began a visit to South Korea yesterday that is likely to focus on building economic ties and steer clear of lingering disputes as the two countries battle the global financial crisis.Aso and South Korean President...

AirAsia X eyes Japan

2009-01-12 LONG-HAUL budget airline AirAsia X yesterday said it hoped to launch flights to at least three destinations in Japan by year-end after Tokyo relaxed its tough visa requirements for Malaysians."With our new A330-300 being delivered, I hope to...

Germany hammering out new stimulus

2009-01-12 GERMAN Chancellor Angela Merkel's government is to hammer out a major new stimulus package this week for Europe's biggest economy but her fractious coalition is still divided on the details.The €50-billion (US$67-billion) raft of measures over...

M'sia sure it will dodge recession

2009-01-12 MALAYSIA will not slip into a recession this year, a government official said, as he urged the nation's banks to keep offering loans to small and mid-sized businesses to maintain private sector confidence, news reports said yesterday.The impact of...

Saudi set to cut Feb output: Sources

2009-01-12 TOP exporter Saudi Arabia plans to cut oil output by up to 300,000 barrels per day below its agreed Opec target a proactive step to prop up a collapsing market, industry sources said yesterday.Opec's most influential member has lowered supply this...

Ukraine, Russia, EU sign deal to get gas flowing

2009-01-12 UKRAINE, Russia and the EU struck an agreement yesterday that should enable the resumption of Russian supplies via Ukraine to Europe, large parts of which have been plunged into a mid-winter energy crisis.But it was unlikely the gas would reach...

BUSINESS BRIEFS

2009-01-12 br />Boeing hampers Qatar Air expansionDUBAI: State-owned Qatar Airways is in talks to revise delivery of Boeing Co's 787 Dreamliner jet and is seeking compensation after the manufacturer's latest delay affected the airline's expansion. Ali al-...

Sunday, 11 January 2009

Obama: Economy will get worse before it gets better

2009-01-11 US president-elect Barack Obama sought to cool down expectations from his incoming administration yesterday, saying the most serious crisis since the Great Depression gripping the United States will probably get worse before the economy starts to...

HKMA urges new steps to protect investors

2009-01-11 THE Hong Kong Monetary Authority (HKMA) has told banks to implement seven new consumer protection measures related to the sale of investment products, after receiving thousands of complaints following the collapse of Lehman Brothers last year.In a...

Indonesia looks for new export destinations

2009-01-11 IN the wake of predictions that its exports will decline due to the global financial crisis, Indonesia is trying to diversify its export markets and launch diplomacy overseas to win new export destinations. "In the face of the negative impact...

Gazprom seeks to build storage site in Germany

2009-01-11 RUSSIAN gas monopoly Gazprom has begun talks with Germany on creating western Europe's biggest gas storage site in a bed of rock on the German coast of the Baltic Sea, a news magazine said yesterday. Gazprom would be able to feed gas to the site...

Oil prices drop 2 per cent on US unemployment data

2009-01-11 OIL prices fell 2 per cent on Friday after data showing a big rise in US unemployment deepened the gloomy outlook for the world's biggest oil consumer. US crude for February delivery settled down 87 cents at US$40.83, with late short-covering...

S'pore misses tourism targets

2009-01-11 SINGAPORE fell short of its targets for tourist arrivals and revenues in 2008 as travel slowed in the second half due to the global economic downturn, the tourism board said yesterday.The city-state welcomed an estimated 10.1 million visitors last...

BUSINESS BRIEFS

2009-01-11 China house prices down in DecemberBEIJING: Chinese property prices fell in December for the first time since 2005, state media reported yesterday, quoting official figures. The price of housing in 70 major cities fell 0.4 per cent year-on-year,...

Saturday, 10 January 2009

US jobless hits 16-year high at 7.2%

2009-01-10 THE US economy lost a massive 524,000 jobs in December, sending the unemployment rate to a 16-year high of 7.2 per cent, according to official data published yesterday.The recession-ravaged economy shed 2.6 million jobs over the course of 2008, the...

Crisis may lead to rice price woes

2009-01-10 A DROP in oil and fertiliser costs has halved the price of rice, a staple for almost 700 million of Asia's poorest, but it could jump again this year as farmers struggle to secure loans amid the credit crunch, experts said yesterday.The price of the...

Korean carmaker in the red, seeks protection

2009-01-10 SSANGYONG Motor Corp, hit by the global slump in car sales, filed for bankruptcy protection yesterday, but its Chinese parent said it had not given up hope of reviving the South Korean automaker.Global automakers are suffering the worst business...

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