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Friday, 20 March 2009

BUSINESS BRIEFS

2009-03-20 br />M'sia aims top 10 trading nations spotKUALA LUMPUR: Malaysia aims to be among the world's top 10 trading nations by 2020, International Trade and Industry Minister Tan Sri Muhyiddin Yassin said. "This is our new target at the ministry....

China, India toy ban row at WTO

2009-03-20 CHINA complained at the World Trade Organisation (WTO) on Wednesday at India's ban on toy imports from China.While stopping short of launching a formal trade dispute, China used a meeting of the WTO's technical barriers to trade committee to raise...

US Fed bolsters its arsenal

2009-03-20 THE Federal Reserve, unwilling to bet that an economic recovery is taking hold, has dramatically boosted its arsenal against the crisis with a pledge to pump another US$1.15 trillion into the financial system.This unprecedented step announced on...

South Korea vows to create 550,000 new jobs

2009-03-20 SOUTH KOREA yesterday pledged to spend US$3.5 billion from an extra budget to create 550,000 jobs as the economy heads into its first recession in more than a decade and job losses stand at a five-year high.The promise is the latest in a raft of...

China Mobile posts 30% profit rise

2009-03-20 CHINA MOBILE, the world's largest mobile phone network operator, said yesterday its profits jumped by 30 per cent last year, but warned China's telecoms market faced a tough 2009.Net profit rose to 112.79 billion yuan (US$16.50 billion) in 2008, up...

Citi, RBS cancel jets for execs

2009-03-20 ROYAL Bank Of Scotland and Citigroup have cancelled orders for private jets for top executives in the wake of the financial crash and a public backlash over corporate perks, French planemaker Dassault Aviation said yesterday.RBS was bailed out by...

China denies protectionism in veto of Coke bid for juice-maker

2009-03-20 CHINA denied trade protectionism yesterday after vetoing Coca-Cola's record takeover bid for Chinese drinks-maker Huiyuan Juice Group, as both companies expressed their frustration.The government said China was open to foreign investment and...

Thursday, 19 March 2009

Shares rise, jitters persist

2009-03-19 WORLD share prices firmed yesterday, while European government debt fell as rising financial stocks and forecast-beating US housing data prompted more optimism among investors after the last week's rally.But the stress that has scrambled markets for...

Tipping point for full-service airlines

2009-03-19 MAJOR Asian airlines may be just days away from slashing more flights as plummeting demand forces them to review their reliance on high-value customers, a regional aviation consultancy said yesterday.Network reductions are inevitable as a result of...

World Bank cuts China growth forecast

2009-03-19 THE World Bank cut China's growth forecast yesterday but called the Asian giant "a relative bright spot" in the gloomy global economy, as Japan vowed to pump more funds into its financial system.China's economy will slow to 6.5 per cent...

Venezuela rethinks cheap petrol

2009-03-19 VENEZUELA, Latin America's biggest oil producer, is considering hiking its extraordinarily cheap domestic gasoline price as it copes with the global crisis.President Hugo Chavez said on Sunday that his government is considering the move, after...

China rejects Coca-Cola bid for top juice-maker

2009-03-19 CHINA said yesterday it had rejected a bid by US soft-drink giant Coca-Cola to acquire the nation's top juice-maker, scuttling what would been the biggest foreign takeover of a Chinese company.The commerce ministry said it would not allow the US$2.4...

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...

Echoes of hope for economy

2009-03-19 ECB head Jean-Claude Trichet joined the chief of the US central bank yesterday in forecasting that the global economic crisis would give way to recovery next year.Trichet saw "moderate" recovery in 2010.Ben Bernanke, the head of the US...

UK jobless rises above 2m for first time since 1997

2009-03-19 THE number of Britons claiming jobless benefit rose by the biggest amount on record last month, official data showed yesterday, and the wider measure of unemployment rose above two million for the first time since 1997.The Office for National...

Wednesday, 18 March 2009

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...

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