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Thursday, 4 June 2009
DISTRUST of business has risen in the wake of the financial crisis and about half those surveyed around the world see the private sector as corrupt, watchdog Transparency International said yesterday.A survey by the Berlin-based group showed that 53...
SMALLER exporters in developing Asia, including China and India, expect trade to be stable to slightly higher in the next three months, thanks to fiscal stimulus and improving intra-regional trade, but they worry about exchange rates, a survey...
CHINA is investigating imports of US and Russian steel under anti-dumping rules amid a rise in Chinese imports of the metal.China is looking into a special type of steel used in power transformers to determine whether US and Russian mills sold below...
br />US factory orders rose 0.7% in AprilWASHINGTON: New orders received by US factories rebounded in April, government data showed, but the previous month's figure was sharply revised downwards to show a steeper drop. The Commerce Department...
ASIA'S richest central banks would shrug off losses from a US sovereign credit rating downgrade and continue to buy Treasuries to keep markets stable, officials and others with direct knowledge of policymaking say.The sources, in separate interviews...
Wednesday, 3 June 2009
SINGAPORE state investor Temasek's new CEO Charles Goodyear may cut the fund's large holdings in banks and trim stakes in other firms such as SingTel as he reallocates money to energy and consumer sectors, Nomura said in a report.Chip Goodyear, the...
TREASURY Secretary Timothy Geithner yesterday that he had found strong support among Chinese officials for the strategy the United States is employing to combat the worst global downturn in decades.Geithner said that in his talks, Chinese officials...
THE economic downturn has made the world more violent and unstable in the last year, according to a study yesterday that ranked New Zealand as the most peaceful country and Iraq the least.The impact of high food and fuel prices in early 2008 and the...
br />BofA, JPMorgan, others raise US$19bNEW YORK: Bank of America Corp, JPMorgan Chase & Co and several other banks said they have raised more than US$19 billion as lenders scramble to extricate themselves from Washington's grip. Banks are...
THE leaders of the world's biggest emerging markets may discuss the idea of a supranational currency this month when they meet for a summit in Russia, President Dmitry Medvedev's spokeswoman said yesterday. "I do not exclude that the Russian...
BRITISH entrepreneur Richard Branson, founder and president of Virgin Atlantic Airways, said at least one major US airline could fail by the end of next year."I just happen to believe it is unlikely that all the big American carriers will...
BANKRUPT General Motors Corp said Chinese sales jumped 75 per cent in May, but it warned further expansion in Asia-Pacific depended on the region's success in raising money in a difficult credit environment.With its regional sales surging 44 per...
IMPROVING global manufacturing data lifted Asian shares yesterday near levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors pondered how much longer a heady three-month rally will last.Reports on...
ASIAN DEVELOPMENT BANK and the Islamic Development Bank will set up a US$500-million syariah fund to help plug a gap in infrastructure needs in Asian economies, ADB said yesterday.The fund, which would be Asia's first major multi-country syariah...
ABU DHABI sold an 11-per cent stake in Barclays yesterday, making US$2.5 billion from an investment that helped the British bank through the financial crisis and raising fears that the rally in bank shares may be over.Traders said the Abu Dhabi...
Tuesday, 2 June 2009
SOUTH KOREA vowed yesterday to boost ties with its Southeast Asian neighbours to jointly fend off a larger threat to their export-driven economies from growing trade protectionism in Western economies.President Lee Myung-bak pledged to boost aid...
INFLATION in Indonesia and South Korea cooled further in May and prices plunged in Thailand but only Indonesia looks set to cut interest rates again as prices are expected to start creeping up later this year.Indonesian annual inflation hit 6.04 per...
OIL rose more than two per cent to a seven-month high yesterday, extending its biggest monthly gain in a decade due to rallying stock markets and sustained expectations for a global economic recovery."It's the US dollar and equities," said...
MANUFACTURING from China to Europe is showing signs of improvement, suggesting the global economy may be over the worst of a recession despite the bankruptcy of carmaker General Motors .China, the world's third-biggest economy, said industrial...
THE head of Japan's biggest business lobby said yesterday he was worried that General Motor's imminent bankruptcy might hurt Japanese suppliers, but remained hopeful GM would emerge quickly from the restructuring.Separately, government officials...
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