Business » World

Thursday, 17 September 2009

Myanmar puts S'pore bank secrecy under the spotlight

2009-09-17 ALLEGATIONS that Myanmar's junta is stashing billions of dollars in Singapore have thrown a spotlight on banking secrecy in the city-state, which strongly denies being a haven for hot money.US-based human rights group EarthRights International says...

US likely over the hump: Fed chief

2009-09-17 FEDERAL RESERVE chairman Ben Bernanke said on Tuesday the US recession "is very likely over" but that the economy remains weak due to difficult credit conditions and high unemployment.Bernanke, in his clearest comments to date indicating...

Bank bonus culture gets G20 talk time

2009-09-17 EUROPEAN UNION leaders said yesterday they will call on the world's biggest economies to threaten sanctions on banks that pay excessive bonuses to executives and traders.In a draft statement likely to be agreed at a summit today, the leaders said...

Japan's new finance chief is veteran lawmaker

2009-09-17 FOR two decades Hirohisa Fujii was a servant of Japan's powerful bureaucracy. Now, as finance minister, the 77-year-old will seek to reduce his former masters' grip on the world's number two economy.Fujii cut his teeth in the finance ministry in the...

Wednesday, 16 September 2009

Yuan not ready to be world currency

2009-09-16 THE Chinese yuan has a long way to go before it is ready to be an international currency, a top central bank official said yesterday, despite a recent push by Beijing to raise the yuan's world profile."We are cautious on the concept of the so-...

BUSINESS BRIEFS

2009-09-16 br />S Korea to buy LNG from AustraliaSEOUL: South Korea's state-owned KOGAS said it had agreed with Chevron Corp to import 1.5 million tonnes of liquefied natural gas (LNG) per year for the next 15 years from the Gorgon LNG project in Australia...

Stocks steady after Bank of England news

2009-09-16 WORLD stocks held steady yesterday ahead of US data, while sterling fell broadly after the Bank of England Governor said the central bank was looking at cutting the remuneration rate on commercial banks' reserves.The euro also slipped briefly after...

China: US tyre duties will harm trade ties

2009-09-16 CHINA warned yesterday that US moves to restrict imports of some Chinese-made goods would damage the mutually important trade relationship between the two giant economies.The warning came after the US last week imposed tariffs on Chinese-made tyre...

JAL to cut 6,800 jobs, seek tie-up to weather turbulence

2009-09-16 Air France-KLM joins list of suitors eyeing stake in loss-making airline JAPAN AIRLINES (JAL) said yesterday it would slash 6,800 jobs and pursue a tie-up with a foreign carrier in a bid to return to profit in the face of severe turbulence unleashed...

Australia plans break-up of giant telecom

2009-09-16 AUSTRALIA yesterday announced shock plans to break up dominant telecommunications player Telstra to boost competition as it presses ahead with a US$37 billion national broadband network.Communications Minister Stephen Conroy said Telstra, part-owned...

IATA hikes industry loss forecast to US$11b

2009-09-16 WORLD airlines are now likely to lose US$11 billion this year, industry association IATA said yesterday, as it raised an earlier loss forecast of US$9 billion and predicted a US$3.8 billion shortfall in 2010."The outlook for the industry has...

UK emerging from recession

2009-09-16 BANK OF ENGLAND governor Mervyn King said yesterday that the British economy is slowly emerging from its deepest recession since the World War II but that inflation, which fell in August to a near five-year low, was unlikely to be a problem any time...

India seeks to crack coconut conundrum

2009-09-16 IT'S a question that has left the best minds in India scratching their heads: how to harvest the coconut crop when no one either wants or knows how to climb trees any more.But officials in Kerala, the southern agricultural state famed for laid-back...

Russia finance chief: Downturn ending

2009-09-16 RUSSIA is clearly emerging from a bitter recession, its finance minister declared yesterday, one year after the onset of a crisis that hammered its once booming economy and showed up structural flaws.Finance Minister Alexei Kudrin said Russia was "...

Tuesday, 15 September 2009

Energy giants get Aussie LNG project

2009-09-15 ENERGY giants Chevron, Shell and ExxonMobil yesterday agreed to develop Australia's massive Gorgon field, giving the final go-ahead to a liquefied natural gas (LNG) project worth hundreds of billions of dollars.Chevron said the joint venture...

G20 may invite S'pore, Thailand

2009-09-15 THE United States is considering inviting Singapore and Thailand to a Group of 20 summit in Pittsburgh this month to reflect broader views from developing countries, Japan's Nikkei business daily reported without citing sources.With participation of...

Singapore moves to cool down property market

2009-09-15 SINGAPORE yesterday announced measures to curb speculation in the red-hot property market after warnings that a new housing bubble might be forming. The Ministry of National Development signalled it was ready to sell more state land for property...

BUSINESS BRIEFS

2009-09-15 Brunei issues $57m worth of sukukBANDAR SERI BEGAWAN: Brunei has successfully priced its 35th and 36th issuances of its short-term Sukuk Al-Ijarah securities, the Ministry of Finance said in a statement dated Aug 27, 2009 and released yesterday. The...

China denies retaliating against US

2009-09-15 Probe of 'dumped' goods from US 'a response to domestic concerns'CHINA'S launch of anti-dumping investigations into imports of US vehicles and chicken was "simply a response to domestic concerns" and not retaliation for new US tariffs on...

Stocks down as trade row triggers jitters

2009-09-15 STOCK markets slid yesterday and the US dollar firmed against major currencies due to fears that a burgeoning US-China trade row could damage the world economy just as it was getting back on track.US President Barack Obama announced safeguard duties...

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