Business » World

Thursday, 12 March 2009

Stock markets push higher

2009-03-12 EUROPEAN and Asian stock markets mostly rallied yesterday after Wall Street bounced higher overnight despite more gloomy economic data highlighting the worst recession in decades.In late morning European trade, London's FTSE 100 index of leading...

Wednesday, 11 March 2009

Australia business conditions at 17-year low in Feb

2009-03-11 AUSTRALIAN business conditions slumped to a 17-year low in February in further evidence the economy was on the brink of recession, according to a survey published yesterday.The National Australia Bank (NAB) monthly survey found business conditions...

World faces 'Great Recession': IMF

2009-03-11 THE world is now in the grip of the "Great Recession" and economic growth could dip below zero in 2009, the head of the IMF warned yesterday, as stock markets hit their lowest levels in decades.As China grappled with deflation, Germany was...

BUSINESS BRIEFS

2009-03-11 br />Govts debate stimulus budgetsTOKYO/FRANKFURT: Japan and China added to divisions among top nations over whether they are doing enough to fight the financial crisis. Finance ministers from the G20 group of rich nations and big emerging powers...

China price fall 'worrying'

2009-03-11 CHINA yesterday reported its first drop in consumer prices in more than six years, adding to worries about how the world's third-largest economy is weathering the global slowdown.With the cost of food, clothing and fuel declining, the consumer price...

World equities bounce after falls

2009-03-11 WORLD stocks rose yesterday after three days of consecutive declines knocked them to six-year lows, while government bonds slipped as fears grew governments may need to issue huge debt to fund economic stimulus packages.Wall Street looked set to...

Manila exports plummet 41%

2009-03-11 PHILIPPINE exports plummeted 41 per cent in January to their lowest level in eight years as demand tumbled due to the worldwide slowdown, the government said yesterday.The drop followed a 40.4 per cent year-on-year export decline in December,...

Seafarers in dire straits

2009-03-11 DRIVING on the West Coast Highway along Singapore's port, it's easy to see the signs of recession. Cranes that usually move containers 24 hours a day have their booms fixed up in the air. "Hands up," the seafarers call it.The view to the...

RM60b to save jobs in Malaysia

2009-03-11 MALAYSIA yesterday unveiled new spending worth RM60 billion (US$16.27 billion) over two years in an attempt to save jobs in the export-dependent Asian economy that is teetering on the edge of recession. Deputy Prime Minister Najib Razak, who will...

Oil above US$47, Opec, supplies in focus

2009-03-11 OIL rose above US$47 ($72.09) a barrel yesterday after reports Saudi Arabia was largely maintaining its supply curbs to Asia and Europe and as analysts expected a drop in US crude inventories.The Organisation of the Petroleum Exporting Countries...

Tuesday, 10 March 2009

Shippers to lose money, some may close shop

2009-03-10 ALL container shipping companies are likely to lose money this year and some will go out of business if freight rates do not recover, said Maersk Line's chief executive.Eivind Kolding said in an interview that Maersk, the world's largest container...

China growth to slow to 6.5% in first quarter

2009-03-10 CHINA'S economy is likely to slow further to 6.5 per cent in the first quarter, intensifying deflationary pressures, a government think tank said in a report published yesterday.First-quarter economic growth will be slower than the 6.8 per cent seen...

Gold may hit US$2,000 If US$ falls

2009-03-10 GOVERNMENT infrastructure spending will drive a rebound in metals prices, while gold may reach US$2,000 an ounce in the next year if the US dollar falls, an executive with UK fund house Schroders said. "The potential for very sharp price rises...

M'sian economy 'buckling' in slump: Anwar

2009-03-10 MALAYSIA'S economy is "buckling under the pressure of a global recession" and could contract by two per cent this year, opposition leader Anwar Ibrahim has warned.Anwar, who was finance minister before being ejected from the ruling Barisan...

M'sia PM in waiting to unveil 2nd budget

2009-03-10 FACED with the worst economic conditions since the 1998 Asian financial crisis and mounting political woes, Malaysia's next prime minister is due to unveil his first budget today.Deputy Prime Minister and Finance Minister Najib Razak is expected to...

BUSINESS BRIEFS

2009-03-10 br />Opec to consider further output cutDOHA: Opec will consider cutting output again at its March 15 meeting as it looks to counter downward pressure on oil prices from falling demand, the group's secretary general said yesterday. Abdullah al-...

US$700b for developing world

2009-03-10 DEVELOPING countries could face a financing gap of US$270 billion to US$700 billion this year as trade income dwindles and rich nations vie for capital to deal with a global slump, the World Bank said on Sunday.The World Bank said even at the lower...

Central bankers see global slowdown, hope of pickup: Trichet

2009-03-10 THE global economy may be nearing a turning point although financial markets are still underestimating the potential for a recovery, top central bankers said yesterday.European Central Bank President Jean-Claude Trichet, who chaired the central...

Bankruptcies rise steadily in Japan

2009-03-10 JAPANESE bankruptcies rose 10.4 per cent in February, marking a ninth straight year-on-year increase, a survey showed yesterday.Figures revealed 1,318 companies collapsed, underlining the growing strains on Japan's corporate sector, which is...

EU supports call to boost IMF funding

2009-03-10 THE European Union is set to back an International Monetary Fund call for US$500 billion to fight the global financial crisis, a document showed yesterday as Japan posted its first current account deficit in 13 years.A key US policymaker said a...

Pages