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Monday, 8 June 2009
SAUDI equities are the best investment among Gulf Arab stocks because of the country's oil reserves and large economy, and the Dubai market is the cheapest, brokerage Merrill Lynch said in a report yesterday."As access improves we would expect...
SMALL crowds gathered on Saturday for the official launch of Pre, the smartphone seen as Palm Inc's best chance to claw back market share from Apple Inc's iPhone and Research In Motion Ltd's Blackberry.The new high-end phone, considered a pivotal...
ASIA'S top two economic powers, Japan and China, agreed yesterday to strengthen cooperation in trade, technology and other areas, saying their ties have significant impact on the global economy.The countries agreed to launch bilateral talks and...
CANADIAN municipal leaders threatened to retaliate against the "Buy America" movement in the United States on Saturday, warning trade restrictions will hurt both countries' economies.The Federation of Canadian Municipalities endorsed a...
br />Cairns Group meets on Doha roundNUSA DUA, INDONESIA: Nineteen leading agricultural exporting nations, including Australia, Brazil and South Africa, kicked off talks in Bali yesterday aimed at pushing forward troubled world trade negotiations...
GOVERNMENTS should extend the aviation industry the same opportunity like others in running its business especially during difficult times like this, said the International Air Transport Association (IATA).Its director general and chief executive...
DEMAND for air travel could decline further despite signs of a more stable global economy, and prospects of a recovery this year look slim, industry executives said at a meeting of the world's airlines yesterday.Airlines have been suffering from...
Sunday, 7 June 2009
CHINA'S yuan could become a world reserve currency after it becomes fully convertible, a process that might take about 10 years, Russian Finance Minister Alexei Kudrin said yesterday. "I think the shortest route would be if China liberalised...
CITIGROUP Inc's relationship with the Federal Deposit Insurance Corp is frayed, sources said, and the regulator wants to replace chief executive Vikram Pandit, the Wall Street Journal reported.US officials have spoken to former US Bancorp chief...
EXPORTS from Asia are beginning to show signs of stability after "falling off a cliff" earlier this year, but recovery will hinge on world markets remaining open to trade, Singapore's trade minister said on Friday.Lim Hng Kiang told...
LUXURY brand Gucci plans to open two to four more stores this year in China, after opening its 28th yesterday, undeterred by uncertainty in the global economy as China is set to lead future luxury consumption, Gucci CEO Patrizio Di Marco said.In a...
br />Steve Jobs set to return as Apple CEOSAN FRANCISCO: Apple founder and tech icon Steve Jobs is set to return to his role as Apple CEO after taking six months of medical leave, the Wall Street Journal reported. The report appeared just days...
Saturday, 6 June 2009
WORLD stocks rose towards this week's 7-1/2 month high yesterday as resource stocks rallied after oil prices surged past US$69 a barrel and optimism grew about an improving US labour market ahead of key jobs data.The day's biggest loser was sterling...
RUSSIA, the world's biggest energy producer, warned yesterday oil could soar to US$150 a barrel if the global economic crisis continued to curb investment in capacity by top producers.Moscow's top energy policy official also warned output from...
RIO TINTO dumped plans for a landmark investment from China yesterday, opting instead to raise US$21 billion through a rights issue and a joint venture with one-time suitor BHP Billiton.Rio's US$19.5-billion deal with Chinese metals group Chinalco...
OIL hit a seven-month high above US$70 ($101.55) per barrel yesterday after much better-than-expected US employment data pushed stock markets higher.A government report said US employers cut 345,000 jobs last month, the fewest since September and...
MITSUBISHI MOTORS CORP'S electric vehicle is twice as expensive as popular hybrid cars by rivals Toyota and Honda, but Japan's No 4 automaker said yesterday the i-MiEV will help it survive increasingly intense global competition."With the...
A LITTLE-KNOWN Chinese heavy machinery maker could face a bumpy road ahead in its quest to buy General Motors' Hummer brand, facing pitfalls ranging from regulatory to financing issues.Just three days after Sichuan Tengzhong Heavy Industrial...
BOLLYWOOD producers and Indian multiplex officials said yesterday they resolved their dispute over revenue sharing, ending a nine-week boycott on new film releases in the movie-mad country."The strike has been called off," said producer...
CHINA will invest up to US$50 billion in new International Monetary Fund bonds, the IMF's first deputy director general John Lipsky told Reuters financial television yesterday. "The Chinese authorities have indicated that ... (they) would be...
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