Business » World
Tuesday, 26 May 2009
THE world economy has avoided "utter catastrophe" and industrialised countries could register growth this year, Nobel Prize-winning economist Paul Krugman yesterday said. "I will not be surprised to see world trade stabilise, world...
THAILAND'S economy slipped into its first recession in a decade in the first quarter as household consumption and investment slumped the most in years, but analysts and officials predicted a pick up in the economy in coming quarters.They suggested 2...
SINGAPORE'S consumer price index saw its biggest ever monthly fall in April, but analysts said there was no significant deflation risk.The consumer price index dropped 1.5 per cent in April from March on a seasonally adjusted basis, the biggest...
CONFIDENCE among German firms rose to a six-month high in May, a key sentiment index showed yesterday, suggesting that Europe's top economy might be pulling out of its worst slump in over 60 years.The closely watched Ifo indicator rose for the...
PETROCHINA'S US$2.2 billion bid to buy half a refinery in Singapore may look like yet another China deal for energy security, but really it says far more about Beijing's desire to flex its pricing muscle on world markets.The clearly established...
SOUTH KOREAN stocks and the won dipped after North Korea said it had conducted a nuclear test yesterday, but the reaction was limited as investors had expected such a move from the North and have become long accustomed its provocations.An initial...
THE government raised its assessment of Japan's economy for the first time in three years yesterday, saying the pace of worsening is slowing as exports and industrial output are nearing bottom.The revision followed an upbeat view last week from the...
br />IMF: Global economy to contract 1.3%HANOI: The global economic growth is expected to fall 1.3 per cent this year, the first negative global growth in the post-war period while global trade is likely to contract 11 per cent, the International...
OIL prices could spike to beyond the near US$150 record high of 2008 within two to three years unless the industry invests in new projects to expand capacity, Saudi Arabian Oil Minister Ali al-Naimi yesterday said.The influential minister of the...
Monday, 25 May 2009
WORLD economic recovery will be slow and rising unemployment could bring the threat of social crisis and protectionism, World Bank President Robert Zoellick said in an interview with Spanish Sunday newspaper El Pais. "What began as a great...
THE US Federal Reserve is likely to keep benchmark interest rates near zero for a while in an economy that is pulling out of a steep decline and appears on course for a very gradual recovery, Fed Vice Chairman Donald Kohn said on Saturday. "The...
THAILAND'S economy may have contracted by five to eight per cent in the first quarter from a year earlier, Prime Minister Abhisit Vejjajiva said yesterday. "It may be worse than the previous fourth quarter. For this time round, it may be a...
POOR countries, already hard hit by the global economic downturn, are now facing cutbacks in foreign assistance from traditional donors saddled with rapidly expanding deficits.The worldwide recession has driven 50 million people into extreme poverty...
PROTON hopes a new automobile industry policy, which is expected to be ready by end of this year, can help ensure car industry players can continue to compete even amid the global economic downturn.Managing Director Syed Zainal Abidin Syed...
ONE of China's growing number of millionaires for whom the financial crisis barely registers Chen Yilong (picture) has just bought a private plane to add to his many luxury homes.Lighting a cigarette in a teahouse in Xi'an, in northern Shaanxi...
ASIA'S largest oil and gas producer PetroChina is buying Keppel Corp's 45.5 per cent stake in Singapore Petroleum Company (SPC) for S$1.47 billion and plans to make a general offer to buy the rest of the firm.SPC's main asset is a refinery in...
OPEC members Saudi Arabia and Libya are confident oil prices will keep rising to eventually hit US$75 a barrel, but acknowledged it would not be any time soon as a weak world economy keeps a lid on demand.Libya said oil demand could rise by the...
ENERGY leaders yesterday debated what oil price would spur investment in the sector without hurting a wider global economic recovery. The G8 energy ministers are meeting in Rome against the backdrop of a price rally that has sent oil to a six-month...
ITALY'S Fiat has improved its offer for General Motors' Opel unit, the German economy minister said on Saturday after a rival Canadian-Russian bid appeared set to win Berlin's seal of approval.A government spokesman said that Economy Minister Karl-...
INVESTMENT in oil and gas exploration and production this year is seen falling 21 per cent, or almost US$100 billion, due to the economic crisis, the International Energy Agency (IEA) said.The IEA also said yesterday it expected global power...
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.
