Business » World

Tuesday, 24 February 2009

Taiwan minister calls for China FTA

2009-02-24 TAIWAN'S economics minister said the island must sign a free trade agreement with rival China or risk its exports eventually crumbling as regional trade blocs become the global norm.The comments by Yiin Chii-ming are the latest development in a...

S'pore PM: Economy may shrink at least 5%

2009-02-24 SINGAPORE Prime Minister Lee Hsien Loong has warned the trade-dependent island state to brace for a worsening global outlook, which could cause the economy to shrink by more than five per cent this year. "Our GDP growth is forecast to be...

Asia property projects go on silent mode

2009-02-24 THE simple sign announces "South Beach" and calls it "Singapore's New Lifestyle Quarter" but there is little sign of life at the collection of dilapidated military buildings.The abandoned camp was to become a US$1.1-billion...

BUSINESS BRIEFS

2009-02-24 br />Indonesia exceeds sukuk targetJAKARTA: Indonesia said it raised more than expected in its first retail Syariah-compliant bond and will go ahead with plans to tap a wider range of investors to finance a ballooning budget deficit as it tries...

Honda Motor replaces CEO

2009-02-24 JAPAN'S second-largest automaker Honda Motor Co, struggling with falling sales amid the global economic downturn, said yesterday it would replace its president and chief executive officer in June.Senior managing director Takanobu Ito, 55, will...

Malaysia to liberalise foreign investment

2009-02-24 MALAYSIA'S government is to announce soon, probably at the same time as it sets out its mini-budget on March 10, an easing of restrictions on foreign investment, the country's trade minister said yesterday.There are however no plans for a major...

US govt may have 40% of Citi

2009-02-24 THE US government may end up holding as much as 40 per cent of Citigroup's common stock, the Wall Street Journal reported on its website, citing sources familiar with talks to shore up the ailing lender.But Citigroup executives hope talks with US...

Dubai eases credit default worries

2009-02-24 DUBAI'S move to sell US$10 billion in bonds to the United Arab Emirates central bank alleviated worries it could default as investors bet the state would step in again to help the former boom town weather the downturn.Dubai stocks jumped almost...

S'pore firm gives out mall vouchers

2009-02-24 A MAJOR Singapore-based company said yesterday it will distribute as shopping vouchers about US$667,000 (over S$1 million) of this year's bonus to managers as a way to fight the economic crisis.CapitaLand is one of Asia's largest property firms. It...

Monday, 23 February 2009

Vietnam opens first oil refinery

2009-02-23 VIETNAM was to open its first oil refinery yesterday after more than a decade of delays, in what is being hailed as a significant moment in the country's development and energy security.Prime Minister Nguyen Tan Dung is expected to inaugurate the...

S Korea warns forex speculators as won falls

2009-02-23 SOUTH KOREA yesterday issued a warning against speculative traders as its won currency has tumbled on worries about its ability to secure dollars to pay back maturing foreign debt, Yonhap news agency reported. "The government will not sit idle...

Europe to tighten watch over hedge funds

2009-02-23 EUROPEAN leaders meeting in Berlin yesterday backed oversight of the world's financial markets and products, including hedge funds, and urged that sanctions be drawn up to punish tax havens.A copy of the "chair's summary" from a summit...

Malaysia plans US$8b stimulus package

2009-02-23 MALAYSIA is expected to announce a stimulus plan of more than RM30 billion (US$8.17 billion) to help its economy weather the impact of the global slowdown, a deputy minister was quoted as saying yesterday.The plan would be aimed at reducing the...

BUSINESS BRIEFS

2009-02-23 US$500b for international institutionsBERLIN: European G20 leaders agreed that the International Monetary Fund should have at least US$500 billion to prevent future financial crises, British Prime Minister Gordon Brown said yesterday. "We...

ADB weighs credit guarantee facility for Asia firms

2009-02-23 THE Asian Development Bank (ADB) is working with Asean+3 to accelerate the establishment of a credit guarantee facility to make it easier for private companies to meet their local currency funding needs.Its president Haruhiko Kuroda said the...

Asean agrees to boost forex fund

2009-02-23 ASIAN finance officials yesterday said they would expand a currency swap agreement to help bolster their currencies in the global economic crisis and they hoped to have a full agreement ready by May.The ministers and senior officials agreed to set...

Sunday, 22 February 2009

BUSINESS BRIEFS

2009-02-22 Tata boss on survival of subsidiariesNEW DELHI: The head of India's oldest and biggest conglomerate Tata Group says each of its nearly 100 companies will have to find its own way to survive the global financial crisis. The group's 96 firms include...

Forex swap deal seen in May

2009-02-22 AN EXPANSION of a currency swap agreement among Asian countries will be discussed by finance ministers meeting this weekend but a deal may not be signed until May, a senior Thai official yesterday said.The Asean members plus Japan, China and South...

'Asean will fight protectionism'

2009-02-22 SOUTHEAST Asian leaders will try to deliver a strong message at a summit next week against the use of protectionism to cope with the global financial crisis, Thai Prime Minister Abhisit Vejjajiva said yesterday.Bangkok chairs the 10-member...

Obama orders tax cuts for 95% of Americans

2009-02-22 US President Barack Obama yesterday ordered the US Treasury to implement tax cuts for 95 per cent of Americans, fulfilling a campaign pledge he hopes will help jolt the economy out of recession.The tax cuts are part of a US$787 billion economic...

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