Business » World

Thursday, 5 February 2009

India bans import of China toys

2009-02-05 CHINA will likely ask the World Trade Organisation if an Indian ban on imports of its toys violates the trade body's rules, state media reported yesterday, in a rare move by Beijing.The case, affecting a quarter-of-a-billion US dollars' worth of...

Obama warns of trade wars from US stimulus clause

2009-02-05 US PRESIDENT Barack Obama warned on Tuesday that "Buy American" provisions in Congress' version of his economic stimulus bill could ignite "trade wars" and exacerbate slumping worldwide growth."I think that would be a...

Global shares extend rally

2009-02-05 ASIAN and European stock markets rallied yesterday as investors took their cue from bumper gains on Wall Street and some rare good news on the ailing US housing market.In late morning European trade, Frankfurt jumped 1.12 per cent, London added 0.63...

Abu Dhabi govt injects US$4.36b into banks

2009-02-05 THE government of Gulf oil exporter Abu Dhabi said yesterday it would inject a total of 16 billion dirhams (US$4.36 billion) into five banks through capital notes to bolster confidence as the global crisis bites.The move comes as United Arab...

China shows glimmer of recovery

2009-02-05 IMPROVED manufacturing data from China yesterday suggested its downturn may be bottoming out thanks to a domestic stimulus package, and the pace of decline in Europe's dominant service sector also slowed. Hopes for a recovery in China helped lift...

Wednesday, 4 February 2009

Up to 3m people lost money to Madoff fraud

2009-02-04 THERE are up to three million "direct and indirect" victims worldwide of the alleged fraud by US broker Bernard Madoff, a Spanish law firm that has filed a US lawsuit in the name of some of the victims said yesterday."Our calculations...

Growth stimulus: Brunei's Islamic Bank Order 2008

2009-02-04 First of three partsTHE first Islamic banking legislation of Brunei Darussalam to regulate the Islamic Banking Industry is The Islamic Banking Act of Chapter 168 enacted on Dec 2, 1992. This provided the legislative vehicle for the institution of...

BoJ to buy bank-held shares

2009-02-04 THE Bank of Japan yesterday pledged to spend US$11 billion to buy shares held by Japanese banks to ease the pain from the global financial crisis, reviving a scheme launched earlier this decade to head off a domestic banking crisis.The move came as...

Singapore tourism revenue rises

2009-02-04 SINGAPORE set a new record for tourism receipts when it posted an estimated S$14.8 billion in revenue last year, representing a 4.8 per cent increase over 2007.The city-state welcomed 10.1 million visitors last year, a decline though of 1.6 per cent...

Fresh economic measures buoy world stocks, oil

2009-02-04 WORLD stocks and oil edged up yesterday as Japan and Australia stepped up efforts to boost ailing economies, while short-term eurozone yields fell on expectations for a eurozone interest rate cut next month.Australia slashed interest rates by a full...

2nd Malaysia stimulus plan to cost RM10b

2009-02-04 THE much-anticipated second stimulus package is expected to about RM10 billion (US$2.76 billion) on account of further savings from the fuel subsidy RM3 billion more than the first package announced on Nov 4, 2008.Kenanga Research, in its report...

Asia could see rapid economic recovery: IMF

2009-02-04 ASIA'S economies could recover rapidly next year from their slump once the rest of the world claws out of recession, the head of the International Monetary Fund said yesterday."Once the world economy regains its footing a rapid recovery is...

Asia urged to end addiction to exports, begin to sell more at home

2009-02-04 WITH the economic crisis dampening the world's appetite for Asian exports, economists are urging the region dubbed the "factory of the world" to rely less on foreign demand and buy more at home.Asia's heavily export-driven economies have...

BUSINESS BRIEFS

2009-02-04 br />SIA to cut fuel surchargesSINGAPORE: Singapore Airlines (SIA) said it will further reduce fuel surcharges. The cuts range from about five percent to 21 per cent, the airline said, announcing its third round of fuel surcharge reductions since...

Oz slashes key rates, unveils US$26b stimulus package

2009-02-04 AUSTRALIA'S ailing economy got a double dose of desperately needed stimulus yesterday as the government pledged billions in new spending to avoid recession and the central bank cut interest rates to record lows.The news lifted the Australian dollar...

Tuesday, 3 February 2009

Tough times for Indian economy

2009-02-03 INDIAN manufacturing activity contracted at the start of 2009 and its exports shrank at the end of 2008, pointing to more pain for Asia's third-largest economy as the sharp global slowdown bites.Exports fell an annual 1.1 per cent in December to US$...

China's 20m rural migrants jobless

2009-02-03 CHINA said yesterday about 20 million rural migrants could not find work because of the global economic crisis, as it admitted mass job layoffs were heightening concerns about social unrest.The figure marked a three-fold increase from numbers...

Australia to fall into deficit on weak tax revenue

2009-02-03 SINKING tax revenue from the global slowdown will blow a A$115 billion (US$73 billion) hole in the Australian government's budget and send it into deficit for the first time in almost a decade, the prime minister said yesterday.Prime Minister Kevin...

Taiwan to splurge on job creation

2009-02-03 TAIWAN'S government has unveiled a 320 billion New Taiwan dollar (US$9.5 billion) plan to create thousands of jobs amidst waves of layoffs and company closures caused by the global economic slowdown.The plan is expected to help create at least 150,...

GIC high returns not sustainable in global crisis

2009-02-03 HIGH returns obtained for 20 years by one of Singapore's sovereign wealth funds will not be seen during the global credit crisis, the firm's deputy chairman said in remarks published Monday.The Government of Singapore Investment Corp (GIC), one of...

Pages


Feel free to comment on this article using your Facebook account. By submitting your comment, you agree to the Terms and Conditions for the use of this comments feature, as stated here.