Tuesday, 15 December 2009

Cadbury rejects Kraft takeover bid

2009-12-15 BRITISH confectionary group Cadbury yesterday rejected a takeover bid from US giant Kraft Foods, describing the offer as insufficient.Cadbury management said it was offering shareholders maximum value by keeping the company independent, notably as...

Dollar falls, Dubai fears eases

2009-12-15 THE dollar dropped against the euro in early European trading yesterday as worries eased over Dubai's debt problems, analysts said. In London deals, the European single currency rose to US$1.4669 from US$1.4613 late in New York on Friday.Against the...

Abu Dhabi's US$10b lifeline to Dubai ends April 2010

2009-12-15 ABU DHABI provided its flashy but debt-laden neighbour Dubai a US$10 billion lifeline to last its troubled flagship company until the end of April, heading off a bond default on payment day and sending Gulf markets higher.Dubai World, the...

Iraq will be 'big player' at Opec meet: US diplomat

2009-12-15 IRAQ will be a "big player" at Opec's meeting in Angola later this month over its allocated crude production quota following a string of deals with oil majors, a senior US embassy official said on Sunday.The Organisation of Petroleum...

IN BRIEF

2009-12-15 Protectionism intensified in 2009: studyGENEVA: Protectionist pressures have not relented despite signs of economic recovery in many countries in the second half of this year, a trade study said yesterday. The report by Global Trade Alert, a project...

Britain launches high-speed trains

2009-12-15 BRITAIN trumpeted yesterday the launch of its first full high-speed domestic rail service, while unveiling plans for a network of the trains across the country in years to come.Prime Minister Gordon Brown was on hand at Saint Pancras station in...

Loans are 'life & death' for Greece

2009-12-15 GREECE yesterday described loans as "a matter of life and death" for its beleaguered economy as the government prepared to unveil emergency measures to combat the worst debt crisis in the country's modern history."At this moment,...

Monday, 14 December 2009

IN BRIEF

2009-12-14 Default looms as Nakheel bonds to matureDUBAI: The fate of the US$3.5 billion bonds owed by Dubai's troubled Nakheel property developer remained unknown yesterday, a day before they mature, with analysts warning of a looming default. The Dubai...

Roller-coaster 2009 for markets

2009-12-14 THE world's equity, commodity and exchange markets bounced back in 2009 after a vertiginous plunge, but analysts warn 2010 may be full of danger, with doubts over the rhythm and vigour of the recovery."For the financial markets, the past year...

Kuwait sees no Opec policy change after price drop

2009-12-14 THE recent drop in the price of oil will not affect Opec's inclination to keep its production target unchanged when its ministers meet later this month, Kuwait's oil minister yesterday said.Sheikh Ahmad al-Abdullah al-Sabah said he was not worried...

Recovering global economy still scarred by finance crisis

2009-12-14 THE global economy that was headed for an abyss at the start of 2009 now appears in recovery, but remains fragile and scarred by the worst crisis in decades.The year began with major economies on the brink of disaster in what turned into the...

Recession not over until jobs rate rises: Obama aide

2009-12-14 US PRESIDENT Barack Obama's top economic aide Christina Romer yesterday said that the improving US economy is not yet out of recession, and will not turn the corner until the unemployment picture improves."The president has always said, and...

Sunday, 13 December 2009

Citigroup sued by Terra Firma

2009-12-13 BRITISH private equity firm Terra Firma accused Citigroup Inc of fraud and sued the bank for billions in damages in connection with Terra Firma's purchase of music business EMI Group in 2007, court documents filed last Friday in New York showed....

Dreamliner 1st flight next week

2009-12-13 BOEING Co unveiled plans for the first test flight for its 787 Dreamliner as early as next week in a critical milestone for the overdue jetliner seen as the future for the aerospace giant.Boeing announced late last Thursday that the Dreamliner's...

M'sia Islamic banking at highest level: Najib

2009-12-13 THE Islamic banking system in Malaysia has advanced to the highest level, making the country the leading exponent of the system worldwide, Prime Minister Najib Razak said yesterday. He said this was based on the country's unique twin financial...

Oil giants bag Iraq contracts

2009-12-13 IRAQ struck deals with several foreign energy giants to nearly triple its oil output in an auction that ended yesterday, as the country bids to become one of the world's biggest energy producers.Major agreements were reached with Russian firm Lukoil...

IN BRIEF

2009-12-13 Obama slams 'fat cat bankers'WASHINGTON: US President Barack Obama has hit out at Wall Street "fat cats", expressing anger that banks bailed out by the government plan huge bonuses while millions of Americans battle poverty and...

Apple hits back at Nokia in patent row

2009-12-13 APPLE, maker of the iconic iPhone, hit back last Friday in a legal row with Nokia and countersued the Finnish telecom giant, alleging it had breached 13 Apple patents.Apple accused Nokia, the world's largest mobile phone maker, of infringing the...

US financial sector rejig cleared

2009-12-13 THE US House of Representatives last Friday approved the most sweeping regulatory overhaul of the financial sector since the Great Depression of the 1930s, one of President Barack Obama's key goals.Lawmakers voted 223-202 to pass the 1,300-page...

Saturday, 12 December 2009

IN BRIEF

2009-12-12 Gas trading exchange launched in AustriaVIENNA: Austrian oil and gas giant OMV and the Vienna Stock Exchange launched a new gas trading exchange yesterday that they see as a first step towards a wider continental European gas trading platform. The...