Business » World

Monday, 30 March 2009

Jobless rate could near 10% by 2010: OECD

2009-03-30 UNEMPLOYMENT may near 10 per cent in the Organisation of Economic Cooperation and Development except Japan by 2010, the OECD said in a paper released yesterday."By the end of 2010, the unemployment rates could be approaching a double-digit...

Sunday, 29 March 2009

IMF says stimulus may be needed in 2010

2009-03-29 THE head of the International Monetary Fund Dominique Strauss-Kahn said on Friday that more government stimulus plans may be needed in 2010 in order to get the world economy back on track.Governments should "make sure that if needed more can be...

China challenges US global financial dominance

2009-03-29 THE only major economy still growing at a fast clip, China is being unusually forthright in challenging the US-led global order ahead of an April 2 summit on the financial crisis.In his second rebuke of US leadership this past week, the central bank...

Europe protesters start G20 rallies

2009-03-29 THOUSANDS of people marched in Britain, France and Germany yesterday to protest about the global economic crisis and urge world leaders to act on poverty, jobs and climate change at a G20 summit next week.Chanting "tax the rich, make them pay...

Soros sees risk of Britain seeking IMF bailout

2009-03-29 HUNGARIAN-BORN US billionaire George Soros (picture) said in a report yesterday it was "conceivable" that Britain would have to resort to a bailout from the International Monetary Fund (IMF)."It's conceivable," Soros said in an...

BUSINESS BRIEFS

2009-03-29 Japan to pledge fresh aid to Asia at G20 TOKYO: Japanese Prime Minister Taro Aso plans to pledge ¥!500 billion (US5.1 billion) in support for Asian countries to help the region survive the global financial crisis, a report said yesterday. Aso is...

Google still hiring even after job cuts

2009-03-29 GOOGLE Inc is hiring to fill about 360 jobs, even after it announced plans this week to lay off almost 200 sales and marketing employees in its third round of job cuts this year.The openings listed on Google's website range from software engineers...

Saturday, 28 March 2009

Port operator PSA profit down 46%

2009-03-28 SINGAPORE port operator PSA International said yesterday its 2008 net profit sank an annual 46 per cent as the worldwide economic slump sent trade volumes plunging in the last five months of the year.Net profit came in at S$1.04 billion (US$687.35...

World stocks dip, US dollar bounces

2009-03-28 GLOBAL shares dipped yesterday, pausing for breath at the end of a week that saw them gain six per cent on hopes of economic recovery while the euro extended losses after Germany warned that fiscal irresponsibility in Europe threatened the common...

Financial Fool's Day in London

2009-03-28 BUOYED by a renewed sense that the recession has made anti-capitalist protest fashionable again, a myriad of groups have vowed to bring London to a standstill during next week's Group of 20 (G20) summit to rescue the global economy. The website...

G8, emerging nations to discuss 'human dimension' of crisis

2009-03-28 LABOUR ministers from the Group of Eight wealthy nations and six other major economies are to gather in Rome on Sunday for talks on the "human dimension" of the financial crisis sweeping the planet.The three-day "Group of 14"...

BUSINESS BRIEFS

2009-03-28 br />Geely buys Australian auto parts makerSHANGHAI: Geely Automobile, one of China's largest independent carmakers, said it signed a deal in Australia to acquire auto parts manufacturer Drivetran Systems. Geely said the deal would help expand...

Deflation stalks Japan, Europe inflation near zero

2009-03-28 JAPAN slipped to the brink of deflation and inflation in Europe slid closer to zero, underlining a threat to the world economy before next week's G20 summit which is supposed to produce a cure for the crisis.Policymakers from the Group of 20 leading...

Airasia X eyes US market by yearend

2009-03-28 AIRASIA X, the low-cost long-haul carrier, is eyeing the US market by year-end following its successful launch of the Kuala Lumpur-London route, chief executive officer Azran Osman Rani said yesterday."There has been a lot of interest from the...

End western rule at global bodies

2009-03-28 BRITISH premier Gordon Brown signaled on Thursday he would support ending a six-decade-long gentlemen's agreement under which leadership of the World Bank and IMF has been divided up between Americans and Europeans."The International Monetary...

British economic output shrinks

2009-03-28 BRITAIN reported its worst quarterly economic performance in nearly 30 years yesterday in a worldwide recession that is sparking stepped-up calls for tighter government controls on financial markets.Australia and Japan underscored sweeping US...

Friday, 27 March 2009

Unrest looms in Asia-Pacific

2009-03-27 ASIA and the Pacific face a "marked risk" of social unrest as the global financial crisis bites, but the region continues to lead international prospects for recovery, a UN survey said yesterday.The annual survey said that the region faces...

Morgan Stanley, MUFG to merge brokerages

2009-03-27 JAPANESE megabank Mitsubishi UFJ Financial Group (MUFG) and troubled Wall Street giant Morgan Stanley yesterday announced plans to merge their securities firms in Japan to weather the credit crunch.The two companies described the move as "a...

Perks for S Korean buyers of new cars

2009-03-27 SOUTH KOREA said yesterday it would offer tax incentives to drivers if they trade their old cars in for new ones as the government moves to support domestic automakers which are reeling from a global demand slump.The government also said in a...

BUSINESS BRIEFS

2009-03-27 br />Asian ministers to discuss FX reservesBANGKOK: Asian finance ministers will look at how to manage their foreign reserve stockpiles and discuss details of a currency swap scheme at a meeting next month to help protect the region from the...

Pages