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Saturday, 6 June 2009
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...
br />Sharper UK GDP contraction fearedLONDON: The British economy may have contracted at a much sharper rate than previously thought in the first three months of this year, official statisticians said, after major revisions to construction output...
RUSSIAN President Dmitry Medvedev, opening the country's top business forum, said yesterday the global economy had avoided the worst but warned participants it was too early to celebrate recovery. "In my view, it is too early to crack open the...
Friday, 5 June 2009
THE prospect of a bumper plane order battle brightened a depressed outlook for plane manufacturers yesterday as United Airlines was reported to be seeking 150 jets despite fresh warnings of industry losses.The Wall Street Journal reported that UAL...
TOYOTA MOTOR CORP'S Prius hybrid was Japan's best-selling car in May, a dealers' group said yesterday, attesting to robust demand for low-emission cars helped by government incentives amid flagging auto sales.Competition is also heating up between...
THE Islamic financing structure of organised tawarruq should be allowed, a top Malaysian religious scholar said yesterday, weighing in on an issue that has divided the US$1 trillion industry.Tawarruq is widely used as a financing and liquidity...
JAPANESE companies slashed spending at a record pace in the first quarter, hurt by a severe slump in global demand that drained corporate pocketbooks.Investment in plant and equipment excluding software tumbled 25.4 per cent from a year earlier, the...
THE Asian Development Bank announced said yesterday it had approved a US$1-billion loan for Indonesia to help the country sustain expenditure on poverty alleviation, social protection and infrastructure maintenance. "The global financial crisis...
THE global 2009 cereals crops forecast was raised slightly, but output will be lower than last year's record and prices may rise again driving food costs higher, the United Nations' Food and Agriculture Organisation said yesterday.World cereals...
WORLD equities slipped yesterday, led lower by emerging market stocks which outweighed gains in Europe.Wall Street looked set for small gains at the open. The US dollar reversed early losses and was flat against a basket of major currencies.MSCI's...
RIO TINTO is looking at new ways to deal with its huge debt burden, the mining group said yesterday in response to reports its planned US$19.5-billion stake sale to China's Chinalco has collapsed.Rio did not mention state-owned metals firm Chinalco...
br />US dollar 'seriously overvalued': StudyWASHINGTON: The US dollar is "'seriously overvalued", mostly against the Chinese renminbi and some other Asian currencies, according to a new study published on Wednesday. The Peterson...
DEFAULTS in the Asia-Pacific will hit a record this year, surpassing the levels set during the financial crisis a decade ago, as the global recession pounds the export-driven region, Standard & Poor's said yesterday.The forecast reinforces...
THE International Air Transport Association called for more liberalisation to bolster the global airline industry, which is expected to lose more than US$4.7 billion this year because of falling cargo and passenger traffic.IATA director-general...
UNEMPLOYMENT payments could help vulnerable economies more than protectionist import penalties in the current economic downturn, the head of the World Trade Organisation (WTO) said yesterday.WTO director-general Pacal Lamy, in an interview with the...
Thursday, 4 June 2009
SINGAPORE state investor Temasek sold its stake in British bank Barclays Plc several months ago at a big loss, people familiar with the matter said yesterday.After spending over £1 billion (US$1.66 billion) on the shares in the last two years...
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