Monday, 23 November 2009

Desperate retailers eye 'Black Friday'

2009-11-23 US RETAILERS are taking desperate measures to spark holiday sales in the face of what promises to be another troubled year-end shopping season.Merchants are furiously working to ramp up consumer interest ahead of "Black Friday," on...

Sunday, 22 November 2009

Putin backs Medvedev's call to modernise economy

2009-11-22 RUSSIAN Prime Minister Vladimir Putin yesterday strongly backed President Dmitry Medvedev's call for radical economic modernisation, in an apparent bid to smother talk of differences between the leaders.Medvedev had in a state-of-the-nation address...

Iran, Kuwait pledge economic cooperation

2009-11-22 IRAN and Kuwait pledged to boost economic cooperation during the first visit to Tehran by a prime minister from the Gulf Arab US ally in more than 30 years, Iranian state media said yesterday.In a possible reference to the disputed Arash gas field...

IN BRIEF

2009-11-22 Poland to sell CO2 permits to Ireland soonWARSAW: Poland will sign an accord shortly under the global Kyoto Protocol to sell surplus carbon emission permits worth €15 million to Ireland, Environment Minister Maciej Nowicki said yesterday. The...

More aid schemes in the pipeline

2009-11-22 VLADIMIR PUTIN pledged yesterday to widen Russia's anti-crisis aid package with a car scrappage scheme and mortgage support to jolt the economy out of the worst recession in 15 years.Putin, who now serves as Russia's prime minister after eight years...

Tesla's IPO a landmark for 'green' car sector

2009-11-22 US ELECTRIC sports car maker Tesla Motors plans to go public soon, two sources familiar with the matter said, amid growing interest in green technology and battery-powered vehicles.An IPO filing from the six-year-old start-up, best known for its US$...

Hershey mulls solo bid for Cadbury

2009-11-22 US CHOCOLATE maker Hershey Co is considering launching a bid of at least US$17 billion for British chocolatier Cadbury Plc as it seeks to trump a hostile offer by Kraft Foods Inc, a source familiar with the matter said on Friday.Hershey has lined up...

Saturday, 21 November 2009

The incredible vanishing asset

2009-11-21 BACK in the late 1980's, I attended a conference on "revenue management", or the art of pricing airline seats to get maximise yield. Too high, and you lost business; too low, and you got less than people were willing to pay. Most of the...

IN BRIEF

2009-11-21 VW to invest nearly US$39b in three yearsFRANKFURT: Volkswagen yesterday said it would invest about €!25.8 billion (US$39 billion) in factories, materials and vehicle types by the end of 2012. Volkswagen, the biggest auto manufacturer in...

Global corporate accounting fraud up sharply: survey

2009-11-21 GLOBAL companies have seen a sharp rise in accounting fraud over the past 12 months, as the pressures of the recession have weighed on employees, according to a new survey on Thursday. The survey of 3,000 senior executives in 54 countries from...

Banks start to shun organised tawarruq

2009-11-21 SOME Middle Eastern banks are avoiding organised tawarruq after a ruling against the practice, an industry official said, a trend that could signal a shake-up for the US$1 trillion Islamic financing sector.Shrugging off criticism of the OIC Fiqh...

Escalation of US-China trade dispute biggest global threat

2009-11-21 A SERIOUS escalation in trade or currency disputes between the US and China could be the biggest risk to global stability over the next few years, a top Morgan Stanley executive yesterday said.If a "bipartisan anti-China currency bill"...

Friday, 20 November 2009

JPMorgan in US$1.7b buyout of UK's Cazenove

2009-11-20 JPMORGAN Chase & Co is beefing up in Europe by buying the half of Cazenove it does not already own in a deal valuing the 190-year old UK stockbroker at £2 billion (US$3.4 billion).The deal, which will land windfalls for dozens of top...

IN BRIEF

2009-11-20 UK proposes tough new banking lawsLONDON: The British government yesterday proposed tough new banking laws that would give the country's main financial watchdog the power to claw back bonuses that breach internationally agreed rules. The proposals...

WTO: World has avoided serious protectionism

2009-11-20 THE World Trade Organisation on Wednesday said governments have managed to avoid serious protectionism, with trade-distorting measures introduced amounting to at most one per cent of merchandise trade.However, in a report to its 153-member states,...

Sony eyes 3D TV to revive growth

2009-11-20 SONY Corp said it would launch 3D TVs and networked products and services to unleash its potential as an electronics and entertainment giant and reverse its fortunes as it heads for a second straight annual loss.The maker of PlayStation games...

Stocks fall on economy jitters

2009-11-20 WORLD stocks fell yesterday amid mounting doubts about the pace of the global economic recovery and ahead of more earnings reports from US retailers.In Europe, the FTSE 100 index of leading British shares was down 33.35 points, or 0.6 per cent, to...

Asia helps feeble West in global recovery, says OECD

2009-11-20 ASIA is leading the global economy out of the deepest downturn in decades but the recovery will be marred by high unemployment and huge government debt across the industrialised countries, the OECD yesterday said.Central banks and governments in...

Thursday, 19 November 2009

Halal goes mainstream in Europe

2009-11-19 THE business of selling food that is halal, or acceptable to Muslims, is set to grow rapidly in Europe in coming years as more supermarket chains target the sector, a Nestle executive said on Tuesday.Frits van Dijk, executive vice president at the...

IN BRIEF

2009-11-19 Gold soars past US$1,150 for first time LONDON: The price of gold soared past US$1,150 per ounce here yesterday for the first time in history, buoyed by the weak US currency and central bank purchases of the precious metal, analysts said. In...