Business » World

Tuesday, 7 July 2009

BUSINESS BRIEFS

2009-07-07 br />Recession adds 90m to ranks of poorGENEVA: ECONOMIC recession has reversed a 20-year decline in world poverty and is likely to add up to 90 million to the ranks of the hungry in 2009, an increase of six per cent over current totals, the...

Please stay standing during takeoff

2009-07-07 IRISH no-frills carrier Ryanair yesterday said it was in talks with US planemaker Boeing about adapting its aircraft so that some passengers could be placed in "vertical seating".The low-cost carrier, which in recent months has suggested...

World stocks falter as oil price slides

2009-07-07 WORLD stock markets fell as oil prices fell US$3 a barrel yesterday amid concerns that any recovery in the global economy will be a long, hard slog following disappointing US jobs data last week.In Europe, the FTSE 100 index of leading British...

Hybrids flex muscle in Japan

2009-07-07 TOYOTA MOTOR CORP'S Prius hybrid was Japan's best-selling car in June while Honda Motor Co's rival Insight ranked fourth, helping the two hybrid leaders dominate the list of top-selling models.Sales of the Prius, which was remodelled in mid-May,...

Monday, 6 July 2009

Pay freeze for UK civil servants

2009-07-06 A PAY freeze for Britain's six million public sector workers would be one of the least painful ways of rebalancing the public finances, the head of the country's independent spending watchdog yesterday said.Steve Bundred, chief executive of the...

'UK to probe MG Rover fall'

2009-07-06 THE BBC says Britain will launch a criminal investigation into the 2005 collapse of automaker MG Rover, which led to the loss of more than 6,000 jobs.Without citing a source, the broadcaster says Business Secretary Peter Mandelson will announce the...

China automaker bids for Opel

2009-07-06 CHINESE carmaker Beijing Automotive Industry Corp (BAIC) is in the running for General Motors' European unit with a bid worth €660 million ($1.34 billion), according to reports.BAIC and GM China were both unavailable for comment yesterday.BAIC...

Aid for trade needed now more than ever

2009-07-06 INTERNATIONAL agencies are set to urge an increase in assistance for trade by developing countries at a conference beginning today, amid fears that aid will be eroded by the economic crisis."Aid for trade is needed now more than ever," said the...

G8 to plot strategy for aftershocks

2009-07-06 EIGHT of the world's most powerful leaders gather in an Italian earthquake zone this week to thrash out a common strategy on how to absorb the tremors of global recession, climate change and Iran.Italy's scandal-mired Prime Minister Silvio...

China won't raise currency proposal at G8

2009-07-06 CHINA has no plans to raise its proposal for a new global currency to replace the dollar at the G8 meeting this week, but is willing to discuss it, a top Chinese diplomat said, as President Hu Jintao left yesterday for Italy.China is not one of the...

We misread how bad the economy was: Biden

2009-07-06 US Vice-President Joe Biden said the Obama administration "misread how bad the economy was" but stands by its stimulus package and believes the plan will create more jobs as the pace of its spending picks up.Biden, in an interview which was to air...

BUSINESS BRIEFS

2009-07-06 Manila lifts stamp tax on stock trades MANILA: Philippine President Gloria Macapagal Arroyo has signed a law permanently removing documentary stamp tax on the sale, barter or exchange of listed shares to stimulate the market and make it more...

Vatican posts deficit

2009-07-06 THE Vatican said Saturday it ran a budget deficit in 2008 as its finances and donations from across the world were hit by the global economic crisis.The Vatican posted a budget deficit for a second straight year, though the figures improved...

Job market lures upwardly mobile Asians back east

2009-07-06 "GO EAST" is a message being heeded by many Asian professionals in the United States and Europe who see brighter job prospects in a region that is expected to outperform the rest of the world for economic growth.Zhang Zheng Han, 26, is one...

Taiwan benefits from China's stimulus

2009-07-06 TAIWAN has benefited from its giant neighbour's measures to stimulate its economy by offering subsidies to consumers, the island's government said in a report yesterday.Taiwan shipped US$4.65 billion ($6.75 billion) worth of goods to China in...

Kuwait wants oil at above US$60 a barrel

2009-07-06 KUWAIT wants to see the price of oil stay above US$60 ($87) a barrel, the Opec member's oil minister yesterday said. "We will be watching the market very closely," Kuwait's Oil Minister Sheikh Ahmad al-Abdullah al-Sabah told reporters at...

Sunday, 5 July 2009

BUSINESS BRIEFS

2009-07-05 Shanghai plans bull statueBEIJING: China's financial capital Shanghai plans to build a bigger version of New York's charging bull statue that sits near Wall Street in lower Manhattan for its waterfront, state media said yesterday. The giant statue...

EU to lift ban on Indonesia airlines

2009-07-05 THE European Union will soon partially lift a blanket ban on Indonesian airlines, imposed in 2007 after a series of deadly air accidents, the Indonesian Transport Ministry said yesterday. The EU's Air Safety Committee has recommended that the bloc...

Vietnam, Cambodia plan economic zone

2009-07-05 VIETNAMESE Prime Minister Nguyen Tan Dung has approved a master plan to build the region along the border with Cambodia into a major economic zone, according to the Vietnam news agency's report. Under the ambitious scheme, the southwestern border...

Germany's Volkswagen to go electric by 2013

2009-07-05 GERMAN'S Volkswagen hopes to turn out its first all-electric car by 2013, VW head Martin Winterkorn said Friday."We are going to use our New Small Family line to offer our first electric vehicle in 2013," he said in a speech. "And in...

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