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Tuesday, 19 May 2009

Japan loses top credit rating on stimulus plans

2009-05-19 MOODY'S stripped Japan of its coveted 'AAA' rating on its foreign currency debt yesterday, rekindling some speculation that other major economies may pay for their efforts to revive growth with credit downgrades.Unlike many of its peers in the the...

BUSINESS BRIEFS

2009-05-19 Bursa M'sia's palm oil stock indices KUALA LUMPUR: Bursa Malaysia has launched three palm oil plantation indices as it wants to tap growing interest in Asia's palm oil industry, its head said yesterday. The FTSE Bursa Malaysia Palm Oil...

India's 17% surge leads Asia

2009-05-19 MOST Asian stock markets yesterday rose in a late rally led by India's exceptional 17 per cent rise on the ruling coalition's unexpectedly decisive election victory.European equities overcame early weakness to start the week on an up note and Wall...

Made-in-China Airbus makes maiden flight

2009-05-19 THE first Airbus plane built outside Europe made a successful four-hour maiden flight yesterday in China, European consortium EADS said. Airbus began assembling some A320 jets in Tianjin near Beijing in September from fuselage parts shipped from...

AIG readies listing of Asia crown jewel

2009-05-19 AIG is to speed up plans to list its Asian subsidiary through an initial public offering that could raise more than US$4 billion, as the bailed-out US insurer seeks to raise cash to pay back government loans.The IPO would help AIG repay some of the...

China growth on track

2009-05-19 RECENT economic data suggests China will meet its eight per cent growth target this year but Beijing will take additional measures if the economy starts losing momentum again, an official at the top economic planning body said yesterday. "...

Tourism chiefs seek help

2009-05-19 THE tourism sector needs to be recognised as a major economic motor that deserves the same sort of attention as the manufacturing and finance industries, tourism leaders from around the world said at a weekend conference."Tourism is the biggest...

Asian consumers go back to basics

2009-05-19 FORGET about bells and whistles. Asians have gone back to basics in the economic slowdown and are opting for no-frills, lower-priced products rather than brand names and items with fancy features that rarely get used.Manufacturers across the region...

Global economic decline 'set to slow'

2009-05-19 THE global economy may return to growth in late 2009 or in 2010, World Bank president Robert Zoellick said yesterday, and European banking officials also saw tentative signs the financial crisis could be easing.Zoellick, speaking during a trip to...

Monday, 18 May 2009

Volkswagen suspends talks with Porsche

2009-05-18 VOLKSWAGEN yesterday said it was suspending talks on taking over sports car maker Porsche after the Porsche workforce announced it would hold a protest demonstration. Friction between the two German companies has been intense for more than two...

Grim data fails to kill recovery buzz

2009-05-18 FRESH and deep recession data is doing little to dampen "green shoots" talk that the global crisis is beginning to bottom out, although analysts are forecasting a long, bumpy journey to recovery.Economists have seen light on the horizon in...

China keeps buying US bonds despite concerns

2009-05-18 CHINA is pumping more money into US Treasury bonds, recent data show, despite concerns expressed in Beijing in recent months over the safety of dollar-linked assets.Mainland China's holding of Treasury securities jumped to US$767.9 billion in March...

More turbulence ahead for Asia's troubled airlines

2009-05-18 ASIA'S leading airlines are bracing themselves for more rough weather after earnings nosedived in the first quarter with no signs of a global economic recovery in sight, industry analysts said.Compounding the airlines' woes are the outbreak of swine...

Oz plans 1,000MW solar energy plant

2009-05-18 AUSTRALIA plans to build the world's largest solar power station with an output of 1,000 megawatts in a A$1.4 billion (US$1.05 billion) investment, Prime Minister Kevin Rudd yesterday said.The plant would have three times the generating capacity of...

China to push investment in Taiwan

2009-05-18 CHINA yesterday said it would push mainland businesses to invest in Taiwan to help it weather the global economic crisis, state media reported.China will also invite Taiwanese businesses to expand on the mainland and join in infrastructure and...

'US uptick doesn't mean crisis is over'

2009-05-18 A FEW recent glimmers of economic hope emerging in the United States do not mean the global crisis is over, a top economist who advises US President Barack Obama said Saturday.The crisis "is certainly the worst that I have seen in my career...

Kuwaiti giant eyes Asia acquisitions

2009-05-18 KUWAITI conglomerate Al Ghanim Industries is looking at industrial acquisitions in Asia to help it diversify away from the Gulf region, where its revenues have been flat this year, the chief executive said on Saturday.Omar Kutayba Alghanim said the...

BUSINESS BRIEFS

2009-05-18 Lloyds Chairman to quit next yearLONDON: Victor Blank is to step down as chairman of Lloyds Banking Group in the next year, following intense criticism of his part-nationalised British bank's purchase of troubled rival HBOS. This year's takeover of...

Bangladesh, Myanmar want road to China

2009-05-18 BANGLADESH and Myanmar want to build a road that links the two countries and travels as far north as the Chinese border, the foreign ministry in Dhaka said yesterday.The new road was among a range of topics on the agenda for Bangladeshi Foreign...

Sunday, 17 May 2009

World tourism to face deep slump if flu goes pandemic

2009-05-17 IF THE H1N1 flu outbreak turns into a full-blown global pandemic, consequences for the travel industry could be devastating, a respected economist told a world travel conference in Brazil Friday."The effects on the tourism industry would be...

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