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Tuesday, 24 March 2009

SCB: Away from eye of financial storm

2009-03-24 STANDARD Chartered Bank attributes its performance over the past year mainly to prudent business practices and its lack of business in the United States and the United Kingdom, which have been hammered by the global financial turmoil."Last year...

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2009-03-24 br />Global trade union on world economyPARIS: Trade unions across the world are to present to their governments a five-point plan for action at the G20 London summit on the global financial crisis next month, their confederation said. The union...

US moves to rid banks of toxic assets

2009-03-24 US TREASURY Secretary Timothy Geithner revealed yesterday a US$500-billion government-backed programme to relieve bank balance sheets of troubled assets that he said "are now clogging" the financial system.The administration of President...

Monday, 23 March 2009

Thailand jobless to reach 1 million in 2009, says PM

2009-03-23 PRIME Minister Abhisit Vejjajiva yesterday announced measures to battle Thailand's economic woes as unemployment is expected to rise to at least one million workers this year.Abhisit, who survived a no-confidence vote in Parliament on Saturday,...

World must address currency woes

2009-03-23 WORLD leaders must resolve underlying problems with global currencies, even if the issue is not tackled in next month's financial summit in London, said a senior advisor to French President Nicolas Sarkozy.Henri Guaino, Sarkozy's influential speech...

France may need more stimulus

2009-03-23 A WORSENING economic outlook will probably force the French government to introduce a new stimulus package, but it will not let the unions dictate policy, a senior adviser to President Nicolas Sarkozy said.The government last week ruled out any...

M'sia to award $1.3b in contracts

2009-03-23 WITHIN a fortnight of tabling the second economic stimulus package in parliament, the government is to award this week projects valued at RM3.202 billion ($1.33 billion), Deputy Prime Minister Najib Razak said yesterday.Najib, who is also the...

Obama steps up Geithner defence

2009-03-23 PRESIDENT Barack Obama on Saturday stepped up his weeklong defence of much-criticised Treasury Secretary Timothy Geithner, saying he would not accept his resignation even if it was tendered.It came ahead of a critical week for Geithner, who is...

Japan needs US$208b in stimulus spending

2009-03-23 JAPAN'S finance minister yesterday said that aggressive public spending would be needed on a scale of possibly ¥20 trillion (US$208 billion) to wrest the economy out of a painful recession.Finance Minister Kaoru Yosano, who also serves as...

Obama adviser certain of US rebound in 1 year

2009-03-23 ONE of President Barack Obama's top economic advisers yesterday said that she was "incredibly confident" the president's efforts will turn the US economy around within one year.Christina Romer, head of the White House Council of Economic...

China spending impact

2009-03-23 CHINA'S huge stimulus package is expected to contribute at least 1.5 per cent to the nation's economic growth this year, a top official said yesterday, as the Asian giant continues to fight the crisis.Zhang Yutai, head of the development research...

Nissan to roll out luxury hybrid in 2010

2009-03-23 NISSAN Motor Co will offer a luxury gas-electric hybrid for the US and Japanese markets next year, Japan's top business daily reported yesterday, as competition intensifies in the green technology.Nissan's Tokyo headquarters were closed for the...

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2009-03-23 Chinese tourists in Taiwan riseTAIPEI: The number of Chinese tourists in Taiwan hit a daily record yesterday after the two former bitter rivals eased travel restrictions as part of improved relations, the Economic Daily reported. Daily tourist...

Tata to debut world's cheapest car

2009-03-23 TATA Motors said it will launch in Mumbai today its ultra-cheap Nano car, a vehicle meant to herald a revolution by making it possible for the world's poor to purchase their first car.But few predict the snub-nosed Nano will be able to turn around...

Sunday, 22 March 2009

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2009-03-22 US budget deficit seen at US$1.8tWASHINGTON: The US budget deficit could hit US$1.845 trillion this year under the budget proposed by President Barack Obama, quadrupling the 2008 record shortfall, a new forecast showed Friday. The Congressional...

Johnson & Johnson baby products cleared

2009-03-22 THE State Food and Drug Administration yesterday said it found no evidence that Johnson & Johnson baby products made in China contain potential carcinogens as alleged by an activist group.The Shanghai Food and Drug Administration found no...

2009 a very dangerous year, says World Bank president

2009-03-22 WORLD Bank President Robert Zoellick yesterday warned of the consequences of an expected steep decline in economic growth across the world this year. "I think 2009 is going to be a very dangerous year," Zoellick told a conference in...

S'pore recovery may take up to 6 years

2009-03-22 SINGAPORE'S recession-hit economy may take up to six years to recover in a worse-case scenario, influential founding father Lee Kuan Yew said."The optimistic scenario is, two to three years, we're out of this," Lee told an audience at a...

Saturday, 21 March 2009

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2009-03-21 br />US cracking down on financial fraudWASHINGTON: US regulators and law enforcement officials said they are aggressively cracking down on fraud related to the financial crisis and are seeking more powers to prevent predatory lending in the...

EU leaders urge G20 to double IMF firepower

2009-03-21 EUROPEAN UNION leaders will urge the G20 leading and emerging economies to double the size of the International Monetary Fund's arsenal for fighting global recession to US$500 billion, a draft declaration showed yesterday.The draft also held out the...

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