Business » World

Saturday, 9 May 2009

Stocks hold gains after US jobless data

2009-05-09 WORLD stocks held gains yesterday near this week's 2009 high and the euro hit a one-month high against the US dollar while US Treasuries edged up after a mixed US employment report.The US economy lost 539,000 non-farm jobs last month, which was less...

BUSINESS BRIEFS

2009-05-09 br />Hyundai Motor may leave IndiaNEW DELHI: South Korean car giant Hyundai Motor said it may shift production of its premium i20 hatchback to Europe from India due to serious disputes with local workers. Such a move would mark the first shift of...

10 US banks have US$75b hole in capital

2009-05-09 THREE big US banks raced to sell stock after the US government said top financial firms have a US$75-billion hole in their capital, while first-quarter results from two European banks showed bad debts are soaring.US regulators told 10 of the biggest...

Toyota Motor sees red ink

2009-05-09 TOYOTA MOTOR CORP, the world's biggest automaker, lost US$6.9 billion in the fourth quarter and forecast more losses for the current year as sales tumble, keeping dozens of its factories underused.Toyota cut its annual dividend for the first time...

European banks' bad debts soar

2009-05-09 FIRST-QUARTER results from two more European banks showed bad debts soaring in the face of tough economies.Germany's Commerzbank made an €861-million (US$1.2 billion) loss in the quarter, after a €1.2-billion charge from the investment bank and a €...

Friday, 8 May 2009

GM reports US$6b loss in Q1

2009-05-08 US AUTO giant General Motors, facing bankruptcy, yesterday reported a loss of US$6 billion in the first quarter after burning through a whopping US$10.2 billion in cash.Excluding special items, GM reported a net loss of US$5.9 billion, or US$9.66...

Volkswagen, Porsche to merge

2009-05-08 LUXURY car maker Porsche and Europe's biggest auto producer Volkswagen agreed on Wednesday to forge a merged German car giant, stepping up the momentous changes shaking the industry worldwide.A special meeting of their boards and key shareholders in...

M'sia luxury condo prices crashing

2009-05-08 PRICES of luxury condos that have mushroomed around the Malaysian capital's iconic Petronas Twin Towers in recent years are crashing as the global financial crisis hits.Cashed-up Malaysians and foreign investors from Asia and the Middle East fuelled...

Nintendo Q4 profit down 42%

2009-05-08 NINTENDO Co LTD reported a 42-per cent fall in quarterly operating profit as the yen's strength outweighed robust game sales, and the Japanese video game maker forecast a bigger-than-expected 12-per cent profit decline this year, pressuring its...

Priming the sukuk pump

2009-05-08 SINGAPORE, Malaysia and Indonesia are expected to issue about US$1.3 billion of sovereign Islamic bonds in the first half of the year, Singapore's central bank chief said yesterday."More private sector issuers are expected to tap the sukuk...

BUSINESS BRIEFS

2009-05-08 UK launch of first Syariah water fund LONDON: UK Islamic bank Gatehouse and Swiss fund management company Sustainable Asset Management yesterday said they have jointly launched the first Islamic compliant water-technology fund. The fund will target...

Forge global ties, M'sia halal firms told

2009-05-08 MALAYSIAN firms should consider establishing linkages with international brands of halal products, either through equity participation or acquisition of well-known brands to fast-track entry into the global halal marketplace."It is also...

'Stress test showed US banks won't fold'

2009-05-08 NO US banks screened by regulators face the risk of insolvency, Treasury Secretary Timothy Geithner yesterday said even as the Wall Street Journal said at least seven of the biggest US banks will need to boost their capital by US$65 billion to be...

ECB cuts interest rate to record low 1%

2009-05-08 THE European Central Bank cut its main interest rate to a new record low yesterday, and will buy up bonds for the first time in a bid to stem the eurozone's economic decline and shore up shaky markets.The decision is the first step on a path of...

Stocks surge to 2009 high; oil tops US$58

2009-05-08 WORLD stocks yesterday rose more than one per cent to their 2009 highs as investors bet on a stabilisation of the world banking system, emerging markets and the global economy at large.Oil also hit fresh 2009 highs, rising above US$58 a barrel...

Thursday, 7 May 2009

S'pore plans rules to aid Islamic banks

2009-05-07 SINGAPORE will soon detail new regulatory steps to grow its Islamic financial markets, its central bank chief said yesterday, as the city-state tries to catch up with neighbours Malaysia and Indonesia in drawing oil wealth.The new measures, to be...

Fiat in high gear on global plans

2009-05-07 FIAT'S drive to create a global car giant moved up a gear yesterday when a judge green-lighted the rapid sale of Chrysler as the Italian group denied plans to cut 18,000 jobs in any Opel takeover.Fiat is looking to become the world's second-biggest...

BUSINESS BRIEFS

2009-05-07 br />US private sector cuts 491,000 jobsWASHINGTON: The US private sector shed 491,000 jobs in April, fewer than expected by analysts, a survey by payrolls firm ADP data showed, signaling the prolonged recession may be easing. The April figure...

M'sia economic rebound in H2

2009-05-07 MALAYSIA'S central bank governor yesterday predicted the economy will start to recover in the second half of this year and said cutting interest rates further would not be constructive in shoring up growth.Bank Negara Governor Zeti Akhtar Aziz said...

World stocks stay close to 2009 high

2009-05-07 WORLD stocks rose close to the previous day's near four-month high yesterday, helped by better-than-expected results from BNP Paribas and eurozone data showing firmer services business activity.Oil and other risky assets also pushed higher, while...

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