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Wednesday, 20 May 2009

Asian property values may continue slide

2009-05-20 ASIAN property values may keep sliding this year as the global credit crisis and economic slowdown undermine investor confidence, investors and analysts said."It's going to be another year of pain," Stuart Labrooy, chief executive at real...

Singapore's GIC still bets on UBS, Citi

2009-05-20 SINGAPORE state investor Temasek's brief love affair with Wall Street banks has ended in tears, but the country's biggest sovereign wealth fund GIC is still sticking with its bets.The Government of Singapore Investment Corp (GIC), which has ploughed...

Will China, Brazil ditch US$?

2009-05-20 BRAZIL'S president spent a day of meetings with Chinese leaders in Beijing yesterday, during which analysts said he could broach a plan to ditch the US dollar in his nation's trade with China.Luiz Inacio Lula da Silva met his Chinese counterpart Hu...

Global equities rally on recovery hopes

2009-05-20 WORLD stock markets posted fresh gains yesterday on hopes that the global economy is through the worst of its slump, setting the stage for a pick-up in corporate earnings, dealers said.In late morning trading in Europe, Frankfurt rallied 2.19 per...

Boxing champ to foray into 'eco-zone' investing

2009-05-20 PHILIPPINE boxing hero Manny Pacquiao is investing 1.22 billion pesos (US$25.8 million) in a 400-hectare special economic zone, including a cancer treatment clinic, in his hometown, a senior trade official said yesterday.Revered across the...

Top bankers more upbeat on global economic rebound

2009-05-20 THE world's top policymakers offered their brightest assessment of the global economy in months, saying it was stabilising and could start growing again as soon as late this year.Australia's central bank governor Glenn Stevens yesterday joined a...

Japan banking giant loses US$2.2b

2009-05-20 MITSUBISHI UFJ Financial Group, Japan's largest bank, reported a US$2.2 billion quarterly loss, its second in a row, hit by a damaging recession and hefty losses on its stockholdings, but forecast a return to profit.MUFG and its rivals have lost...

British retail prices slide

2009-05-20 RECESSION-HIT Britain's 12-month consumer price inflation slowed to 2.3 per cent in April while retail prices sank at their fastest pace since records began in 1948, official data showed yesterday.Consumer Price Index (CPI) inflation the government...

Oil hits 6-month high on supply

2009-05-20 OIL rose to a fresh six-month high above US$60 ($87.78) a barrel yesterday as unrest in Nigeria and a US refinery outage kindled concerns over oil fundamentals after weeks of equity-led rallies.US crude for June struck US$60.48 a barrel, the highest...

Singapore tycoon sues Citi over S$1b trade losses

2009-05-20 A BUSINESSMAN based in Singapore Oei Hong Leong has sued Citigroup's private bank for negligence and misrepresentation after he lost S$1 billion (US$684 million) on foreign exchange and bond trades last year, the Straits Times reported yesterday....

BUSINESS BRIEFS

2009-05-20 br />India's Singh vows inclusive growthNEW DELHI: Indian Prime Minister-elect Manmohan Singh vowed yesterday to revive growth and spread the benefits of economic expansion that swept his coalition back to power with a decisive mandate in a...

Tuesday, 19 May 2009

Toyota's cheaper, revamped Prius

2009-05-19 TOYOTA rolled out the revamped Prius yesterday, and said it already had 80,000 advance orders in Japan for the remodeled hybrid amid intensifying competition with Honda's rival offering, the Insight.The world's largest automaker said it aims to sell...

Japan loses top credit rating on stimulus plans

2009-05-19 MOODY'S stripped Japan of its coveted 'AAA' rating on its foreign currency debt yesterday, rekindling some speculation that other major economies may pay for their efforts to revive growth with credit downgrades.Unlike many of its peers in the the...

BUSINESS BRIEFS

2009-05-19 Bursa M'sia's palm oil stock indices KUALA LUMPUR: Bursa Malaysia has launched three palm oil plantation indices as it wants to tap growing interest in Asia's palm oil industry, its head said yesterday. The FTSE Bursa Malaysia Palm Oil...

India's 17% surge leads Asia

2009-05-19 MOST Asian stock markets yesterday rose in a late rally led by India's exceptional 17 per cent rise on the ruling coalition's unexpectedly decisive election victory.European equities overcame early weakness to start the week on an up note and Wall...

Made-in-China Airbus makes maiden flight

2009-05-19 THE first Airbus plane built outside Europe made a successful four-hour maiden flight yesterday in China, European consortium EADS said. Airbus began assembling some A320 jets in Tianjin near Beijing in September from fuselage parts shipped from...

AIG readies listing of Asia crown jewel

2009-05-19 AIG is to speed up plans to list its Asian subsidiary through an initial public offering that could raise more than US$4 billion, as the bailed-out US insurer seeks to raise cash to pay back government loans.The IPO would help AIG repay some of the...

China growth on track

2009-05-19 RECENT economic data suggests China will meet its eight per cent growth target this year but Beijing will take additional measures if the economy starts losing momentum again, an official at the top economic planning body said yesterday. "...

Tourism chiefs seek help

2009-05-19 THE tourism sector needs to be recognised as a major economic motor that deserves the same sort of attention as the manufacturing and finance industries, tourism leaders from around the world said at a weekend conference."Tourism is the biggest...

Asian consumers go back to basics

2009-05-19 FORGET about bells and whistles. Asians have gone back to basics in the economic slowdown and are opting for no-frills, lower-priced products rather than brand names and items with fancy features that rarely get used.Manufacturers across the region...

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