Business » World

Friday, 2 October 2009

US loosens control over web's ICANN

2009-10-02 THE United States on Wednesday loosened its control over the private sector corporation that administers the Internet, granting it greater autonomy and opening it up to international oversight.A new agreement between the Commerce Department and...

5 UK banks agree to G20 pay pledges

2009-10-02 FIVE of Britain's biggest banks have promised to abide by internationally agreed curbs on bonuses, the British government said on Wednesday.HSBC Holdings Plc, Lloyds Banking Group Plc, Barclays Plc, Royal Bank of Scotland Group Plc and Standard...

Bharti, MTN junk talks

2009-10-02 INDIA'S top mobile company Bharti Airtel on Wednesday called off merger talks with South Africa's MTN Group aimed at creating an emerging market powerhouse, blaming South Africa's political leaders.The South African government "has expressed...

ASIA BUSINESS BRIEFS

2009-10-02 S Korea firm begins oil drilling in IraqSOUTH KOREA'S state-owned oil company yesterday said it started drilling for oil in northern Iraq amid a dispute between the Kurdish regional government and Baghdad over the legality of such resource deals....

WORLD BUSINESS BRIEFS

2009-10-02 Airlines losses get worse in Q2: IATAKUALA LUMPUR: Losses for the airlines industry got worse in the second quarter, with 68 major airlines reporting net losses of US$2.3 billion ($3.2 billion) following US$4 billion in the first quarter, the...

IMF raises global forecast

2009-10-02 - China, India to lead growth - World starting to heal, but recovery looks fragileTHE International Monetary Fund yesterday raised its 2010 global growth forecast amid signs the world economy is slowly healing, but policymakers are still far from...

Weak data weighs on global stocks

2009-10-02 WORLD stocks were mostly lower and Wall Street was expected to slide on the open yesterday as weak economic data overshadowed higher growth forecasts from the International Monetary Fund.Britain's FTSE 100 was down 0.7 per cent at 5,098.31,...

Bank of America CEO to retire by yearend

2009-10-02 BANK of America Corp Chief Executive Kenneth Lewis announced he was retiring, after months of being dogged by a series of government investigations into the company's acquisition of Merrill Lynch last year that had become a major distraction for...

Thursday, 1 October 2009

WORLD BUSINESS BRIEFS

2009-10-01 br />Kraft given Cadbury takeover deadlineLONDON: Britain's takeover watchdog yesterday handed US giant Kraft Foods a six-week "put up or shut up" deadline to lodge a formal takeover bid for British confectionery maker Cadbury. Kraft...

Europe shares set for best quarter in 10 years

2009-10-01 EUROPEAN shares look set to finish the third quarter with their best performance in nearly a decade on expectations of economic recovery while world stocks also rose strongly though not as much as in the previous period. The pan-European...

US recession winding down

2009-10-01 THE US economy moved close to emerging from recession in the second quarter, according to revised data yesterday showing a smaller-than-expected 0.7 per cent pace of output decline.The figure for gross domestic product (GDP) was better than last...

Microsoft CEO's pay down 6% in '09

2009-10-01 THE value of the compensation package granted to Microsoft Corp CEO Steve Ballmer fell about six per cent in fiscal 2009, a year in which weak computer sales cut into the software maker's profits.Ballmer received a pay package valued at US$1.28...

UK consumer morale enjoys record boost

2009-10-01 BRITISH consumer morale enjoyed its biggest monthly boost in more than 14 years in September as people grew more optimistic about the economic outlook than at any time in the past decade, a survey showed yesterday.The GfK/NOP consumer confidence...

China, Japan manufacturing offers fresh recovery proof

2009-10-01 MANUFACTURING activity powered ahead in Japan and China in September, providing fresh evidence of a global recovery, but other data from Tokyo showed worrisome signs that the impact of massive government stimulus spending may be starting to fade....

IMF to up world GDP view

2009-10-01 THE International Monetary Fund will raise its 2010 growth forecast for the world economy to 3.1 per cent from 2.5 per cent to reflect improving economic conditions, a newspaper reported yesterday.Citing unidentified sources at the IMF and the...

Wednesday, 30 September 2009

World Zakat Fund set for 2010 launch

2009-09-30 THE first fund managing Islamic charitable donations plans to launch in the first quarter next year as it bids to raise US$750 million from high net worth Muslims in its first 12 months, the fund's Islamic advisor said.The World Zakat Fund has US$50...

China: No to WTO chemical sector deal

2009-09-30 CHINA rejected on Monday calls from the United States and European businesses to join a pact eliminating import duties in the chemical sector as part of a global trade deal.The refusal, voiced by China's ambassador to the World Trade Organisation,...

BUSINESS BRIEFS

2009-09-30 br />CIC invests US$2b in US assetsHONG KONG: China Investment Corp, a US$200 billion sovereign fund, is set to spend US$2 billion buying US distressed assets from property to infrastructure via three funds, including one managed by Goldman Sachs...

World stocks steady; yen slips from high

2009-09-30 WORLD stocks steadied yesterday as weaker oil prices and caution following a recent rally prompted investors to lock in gains and stay on the sidelines.The yen slipped from the previous day's eight-month high versus the US dollar after Japanese...

Recession easing in Britain

2009-09-30 THE deep recession in Britain is easing, official data showed yesterday, boosting hopes that the nation will soon join other major economies in returning to growth before the end of 2009.British output contracted 0.6 per cent in the second quarter...

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