Business » World

Thursday, 19 March 2009

BUSINESS BRIEFS

2009-03-19 br />US$10-11b trade finance pool at G20GENEVA: A trade finance facility to be discussed by the World Bank and its affiliates at the G20 summit of leading nations on April 2 will offer US$10-11 billion in funds, a senior trade source said....

Global sukuk sales to fall again this year

2009-03-19 ISLAMIC bond sales are likely to drop this year from 2008 although local currency issuances will help support markets hit by the credit crisis, the Asian arm of Kuwait's top syariah lender said yesterday.Plummeting property prices in key Islamic...

Wednesday, 18 March 2009

Sign of life in US housing

2009-03-18 US home construction starts and permits saw a surprise jump in February from 50-year low levels in a positive sign for the moribund home market at the epicentre of global financial crisis.Housing starts or privately owned new homes on which...

European stock markets slip despite Tokyo bounce

2009-03-18 EUROPEAN stocks slid yesterday as dealers cashed in recent gains, but Tokyo hit a five-week peak on hopes for a global economic recovery owing to economic stimulus efforts, analysts said.Japan's benchmark Nikkei-225 shares index jumped 3.18 per cent...

How travel aids China, Taiwan

2009-03-18 TAIWAN has seen a sudden spike in tourism from China, as an effort by Beijing to improve ties helps its political rival battle recession with a long-sought boost to the service sector.The number of tourists from China, which considers the self-ruled...

Leaders face bigger trade finance gap

2009-03-18 WHEN the World Trade Organisation (WTO) gathers experts today to review trade finance, they are likely to hear the shortfall in the sector is far worse than it seemed just four months ago.If so, that would confirm a dangerous vicious spiral, in...

US$5 steaks to survive global crisis

2009-03-18 AS THE recession discourages people from dining out, the US beef industry is stepping up efforts to sell steaks through supermarkets to compensate for a slowdown in restaurant business, NCBA economist Gregg Doud said on Monday."On the steak...

S'pore exports to China offer signs of hope

2009-03-18 SINGAPORE'S key exports fell for the 10th straight month in February due to the global slowdown, but shipments to China rebounded, offering signs that the world's third biggest economy may be headed for a recovery.Non-oil exports tumbled 23.7 per...

Islamic investors snap up lease-based sukuk as risks grow

2009-03-18 AS THE global downturn drags on, battering investor confidence and asset values, Islamic finance markets are expected to increasingly favour the certainty of lease-based bonds over profit-sharing structures to minimise risks.With key sectors such as...

M'sia sees 50,000 job losses

2009-03-18 MALAYSIA has shed 26,000 jobs since the global financial crisis blew up in September and nearly twice as many workers could lose their jobs this year as struggling manufacturers cut output, a senior government official said. "It (unemployment)...

BUSINESS BRIEFS

2009-03-18 br />China remains top creditor to USWASHINGTON: China consolidated its position as the top creditor to the United States, with US$739.6 billion in US Treasury bond holdings as of late January, US government data showed. The US Treasury...

Germany offers unexpected cheer, Japan spurs lending

2009-03-18 GERMANY'S economy offered unexpected signs of optimism yesterday while Asian powerhouse Japan acted to spur lending by extending banks a further US$10 billion to help tackle the worst global recession in decades.A monthly poll by the ZEW economic...

1 in 10 in Philippines jobless

2009-03-18 JOBLESSNESS in the Philippines has risen to 7.7 per cent with more than nine million people about one in 10 out of work or underemployed, the government said yesterday, blaming the global downturn.The unemployment rate rose from 7.4 per cent a...

Tuesday, 17 March 2009

Russia's G20 plan to reform world order

2009-03-17 RUSSIA unveiled radical, sweeping proposals yesterday for global financial reforms designed to check US dominance, empower poorer countries and consign an "obsolescent" economic order to the past.In a six-page document addressed to the...

Banks sound happier note

2009-03-17 ANOTHER major world bank said business was improving, a rare dose of optimism that helped counter a gloomy report on Japan's economy yesterday, while the US Federal Reserve chairman warned that politics posed a threat to recession-fighting efforts....

Easing bank fears lift stocks

2009-03-17 WORLD stocks climbed strongly yesterday for a fifth session running, lifted by hopes that the US economic downturn may be bottoming out as investors sought to take advantage of cheaper equities.Reassurances over the health of the US banking industry...

Opec not seeking to worsen global recession

2009-03-17 THE Opec cartel, which held oil output on Sunday, does not want to worsen a vicious global recession and hopes that recent deep production cuts will help stabilise crude prices, analysts said.The 12-nation Organisation of Petroleum Exporting...

Aussie probe of China-Rio deal extended

2009-03-17 AUSTRALIA extended its review of Chinese aluminium maker Chinalco's US$19.5 billion investment in global miner Rio Tinto yesterday as major Rio shareholders voiced growing concern over the deal.The Foreign Investment Review Board's (FIRB) decision...

Bernanke talks up US recovery

2009-03-17 IN HIS first television interview, Federal Reserve chairman Ben Bernanke predicted that America's worst recession in decades will likely end this year before a recovery gathers steam next year.The "green shoots" of economic revival are...

Singapore braces for sharp decline in Q1 GDP

2009-03-17 SINGAPORE'S economy could shrink by 8.5 per cent in the first three months of 2009, hit by a downturn in trade, and its currency could lose about eight per cent against the US dollar this year, a central bank survey showed.The Singapore dollar is...

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