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Wednesday, 6 May 2009

Fears on capital needs of US banks ease

2009-05-06 CONFIDENCE that US banks' capital shortfalls will prove manageable fuelled hopes the global slump may be easing, though Swiss bank UBS AG, the world's top wealth manager, remained wary yesterday.Signs that the financial sector, where the economic...

Asean partners show recovery signs: ADB

2009-05-06 CHINA, South Korea and Japan appear to be recovering from the global financial crisis, the president of the Asian Development Bank (ADB), Haruhiko Kuroda, said yesterday. "The Chinese economy may have already bottomed out ... and the Korean...

Tuesday, 5 May 2009

BUSINESS BRIEFS

2009-05-05 Global investment to fall further in '09GENEVA: Global foreign direct investment flows are expected to plunge even further this year, after falling some 15 per cent in 2008, the United Nations trade and investment think-tank Unctad yesterday said....

In Japan, holidaymakers play with robots

2009-05-05 SOME robot-loving Japanese are tinkering with screwdrivers and motors instead of heading to the beach or hot springs during this nation's "Golden Week" holidays.Among the robots on display yesterday at Vstone Robot Centre in the bustling...

Asia to manage 'mild recovery' next year: ADB

2009-05-05 THE Asian Development Bank yesterday called for a fundamental "rebalancing" of regional economies in response to the global crisis, while predicting a "mild recovery" next year.Bank President Haruhiko Kuroda said the region...

Buffett's China investment challenged

2009-05-05 A TAIWANESE business tycoon has criticised US investor Warren Buffett's decision to invest in a Chinese battery and carmaker allegedly involved in stealing trade secrets.In an interview with a Taiwanese newspaper published yesterday, Terry Gou, head...

World Bank to help fight debt crisis

2009-05-05 THE World Bank will help companies in developing nations restructure their debt following financial turmoil that slammed the brakes on economic growth, its chief Robert Zoellick yesterday said. The bank's private sector arm, the International...

New data shows recession easing

2009-05-05 BETTER news on manufacturing in Europe, China and India, and positive signs on US home sales and construction raised hopes yesterday that the sharpest economic slump in decades may have bottomed out.Manufacturing in Europe declined at its slowest...

Asia stocks hit seven-month high

2009-05-05 ASIAN stocks punched to a seven-month peak yesterday, fuelled by confidence the global economy is recovering faster than expected and a further jump in Taiwanese shares on hopes for an influx of Chinese investment.Taiwan's benchmark TAIEX index...

M'sia to present global halal standards by yearend

2009-05-05 MALAYSIA'S global halal standard modules, which will pave the way for harmonisation of the global halal industry, will be ready for public comments by end of this year.International Halal Integrity Alliance (IHI) chief executive officer Darhim...

S&P's Asean credit rating scale

2009-05-05 STANDARD & POOR'S RATINGS SERVICES yesterday announced the launch of an Asean credit rating scale to provide additional transparency about the credit risk of borrowers active in the region.The new ratings will provide information for investors...

Fiat plans new auto giant

2009-05-05 THE boss of Italy's Fiat drummed up support in Berlin yesterday for audacious plans to snap up GM's European arm and combine it with the bankrupt Chrysler to create a new global auto giant.Sergio Marchionne met German ministers to tout what he...

Monday, 4 May 2009

Porsche won't be sold to Volkswagen: report

2009-05-04 WOLFGANG Porsche, head of the supervisory board of Porsche and patriarch of one of its two controlling families, said the carmaker will not be sold to Volkswagen.Media reports have said the Porsche and Piech families are set to make a decision on...

Deal on HK Disneyland expansion reached soon

2009-05-04 A TOP Hong Kong government official is pleased with the progress in talks with the Walt Disney Co on expanding the underperforming Hong Kong Disneyland, and a deal could be reached soon, his spokesman said on Saturday.Hong Kong Financial Secretary...

Bleak outlook for US newspapers

2009-05-04 WARREN Buffett is fond of newspapers he reads five a day but the billionaire investor warned shareholders of his Berkshire Hathaway Inc that the reeling industry may never recover because it lacks a sustainable business model.At Saturday's annual...

Asia must retool to survive crisis: ADB

2009-05-04 ASIA must boost domestic consumption and end its dependence on exports as external demand plunges in the world economic slump, the Asian Development Bank yesterday said.The call was echoed by regional finance ministers gathered at the ADB's annual...

Financial sector to play smaller role in US economy

2009-05-04 THE financial sector will make up a smaller part of the US economy in the future as new regulations clamp down on "massive risk-taking", President Barack Obama said in an interview published on Saturday.Obama, whose young administration...

Aussie bank eyes Asian acquisition

2009-05-04 AUSTRALIA'S ANZ Bank is looking at buying assets in Asia as it pursues its strategy of becoming a regional "super-bank", Chief Executive Mike Smith said yesterday.Smith refused to confirm reports that ANZ was in the running to buy Royal...

GM could follow Chrysler into bankruptcy

2009-05-04 GENERAL MOTORS could soon follow Chrysler into bankruptcy protection and the process is unlikely to be simple or swift for either troubled automaker, analysts warned."Bankruptcy may indeed be the last, best option to restructure General Motors...

BUSINESS BRIEFS

2009-05-04 ECB set for final rate cutFRANKFURT: The European Central Bank will unveil record low interest rates and other ways to pull eurozone members from their worst recession in six decades at a landmark meeting here this week, analysts say. "The May...

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