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Monday, 1 June 2009
US TREASURY SECRETARY Timothy Geithner, aiming to persuade China that its US investments were safe, pledged that the Obama administration was firmly committed to ratcheting down huge deficits as quickly as it can once economic recovery is assured...
THE march of foreign money into Asian markets has slowed dramatically over the past week with experts signalling that investors are feeling a touch of "rally fatigue" after a hectic few months.The numbers are startling: Just US$900,000...
GENERAL MOTORS CORP finished a key piece of business on Saturday before a bankruptcy filing planned for today as the deadline expired for bondholders to accept an exchange offer brokered by the Obama administration.The development came as GM's board...
Sunday, 31 May 2009
A STRONGER framework governing global Islamic finance is needed to track if funds are being invested according to syariah principles."That is why we are pushing for stronger overall consistent governing framework for global Islamic finance,...
ORDERS in Japan for Toyota's new Prius hybrid have topped a booming 110,000, a major dealership chain said yesterday, in what is turning out to be a rare bright spot in the gloomy auto market.The third-generation Prius officially rolled out in Japan...
GERMANY reached a landmark deal with Canadian auto parts group Magna, General Motors and governments to save carmaker Opel from the imminent bankruptcy of its US parent, German leaders said on Saturday.Finance Minister Peer Steinbrueck told...
THOUGH General Motors is now almost certain to declare bankruptcy, members of the US carmaker's top labour union ratified a new agreement Friday that could make it easier for GM to survive the court process. The United Auto Workers (UAW) union said...
Judge pushes ruling on Chrysler's saleNEW YORK: The US bankruptcy judge overseeing Chrysler LLC's bankruptcy case said on Friday he would issue an opinion "sometime on Monday" on the automaker's proposed sale of most assets to a new...
Saturday, 30 May 2009
WORLD stocks yesterday posted a new 2009 high, hitting levels last seen six months ago, and the dollar sank to a five-month low against major currencies on hopes the global economy has seen the worst of its downturn. Wall Street looked set to join...
THE US economy contracted slightly less than initially estimated in the first quarter, while corporate profits rebounded, according to a government report yesterday that hinted the recession was moderating.Gross domestic product, which measures...
PROTON Holdings Bhd yesterday announced a group pre-tax loss of RM338 million for its financial year ended March 31, 2009, from a pre-tax profit of RM144 million in 2008, mainly due to an exceptional impairment of property, plant and equipment and...
THE biggest monthly oil rally in a decade stoked Opec confidence higher prices would be reached before the year was out, although ministers yesterday said they were still monitoring bloated fuel stocks.Prices rose to a six-month high above US$66...
INDIA reported unexpectedly robust economic growth yesterday, sending stocks to a near nine-month high, as analysts said the worst may be over for Asia's third-largest economy.India's economy, which has weathered the global downturn better than many...
THE global economy is likely to emerge from crisis early next year but even after that financial systems will need to be monitored closely, the head of the International Monetary Fund yesterday said. "We expect to get out of the crisis early in...
THE ILO on Thursday raised its global unemployment forecast, saying that up to a record 239 million people could be jobless this year amid a deteriorating labour market."The labour market situation has continued to deteriorate since the start...
CANADIAN auto parts group Magna has reached a preliminary deal with General Motors Corp to invest in Opel, boosting hopes for a deal with the US and German governments to save the carmaker.Sources close to the negotiations told Reuters yesterday...
Google woos developers to ride WaveSAN FRANCISCO: Google on Thursday encouraged software developers to ride into the future of email with a project called "Wave", which opens inboxes to text, video, pictures, maps and even social network...
MINISTERS attending the 17th Asean-EU Ministerial Meeting in Phnom Penh have agreed that it is crucial for Asean and the European Union (EU) to intensify cooperation in dealing with the global economic and financial crisis as well as food and energy...
WEEKS before the first China-built Airbus rolls off the assembly line near Beijing, the European planemaker's top official has pulled out the map and targeted future jetliner production in the US and India.Airbus Chief Executive Tom Enders, writing...
Friday, 29 May 2009
GLOBAL shares fell from recent 2009 highs yesterday while government bonds tumbled around the world, dragged down by investor concern about mounting Western government debt.The benchmark 10-year Treasury note yield hit a six-month high on Wednesday...
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