Business » World

Tuesday, 14 April 2009

US companies in Asia warn of protectionism

2009-04-14 AN ORGANISATION representing US companies in Asia warned "Buy American" type policies could spark retaliation from other countries and undermine global trade.The Asia-Pacific Council of American Chambers of Commerce, which represents more...

China plans new stimulus package

2009-04-14 CHINA is drawing up a fresh economic stimulus aimed at boosting consumption, state media reported yesterday, on top of a previous multi-billion-dollar plan targeting investment.The move comes as the government looks to increase personal spending in...

US$15b sukuk floats nixed for flouting syariah

2009-04-14 SOME US$10 billion-US$15 billion of Islamic sukuk have been shelved since the onset of the financial crisis because the specialised debt instruments became a replica of conventional bonds, a banker said yesterday.New issuance of sukuk, commonly...

Monday, 13 April 2009

Owners of old cars in S Korea get tax break

2009-04-13 SOUTH Korea's government yesterday offered a tax break to motorists who replace ageing cars with newer models, in bid to boost sagging demand in the auto industry.The strategy and finance ministry said the measure, worth up to 2.5 million won (US$1,...

Is greed overcoming stock market fear?

2009-04-13 US STOCKS typically rebound six months before the economy, but investors worry that the current 25 per cent rally since the market's March 9 low could be a red herring.At the same time, lack of investor conviction or simple fear can be considered...

Thai tourism sector may have come undone

2009-04-13 THAILAND'S battle-hardened tourism sector may have finally come unstuck with the violent scenes that ended a major Asian summit at a major beach resort, industry experts warned yesterday.It weathered the Sars epidemic in 2003, the 2004 Asian...

BUSINESS BRIEFS

2009-04-13 Switzerland to hit back at OECDZURICH: Switzerland is considering further measures against the OECD in the row over how much the country is doing to reform its policy on tax havens, media reports said yesterday. The Neue Zuercher Zeitung quoted...

China to keep relaxed monetary policy

2009-04-13 CHINA will continue to implement a relaxed monetary policy and keep sufficient liquidity in the banking system, the People's Bank of China said yesterday.The statement appeared to be the central bank's response to new data released on Saturday,...

US, China key to global steel industry revival

2009-04-13 STEEL is on edge and the global industry is cutting back hard, hanging on for either a budget blast from China, new credit for vast Middle Eastern building schemes or resurrection of the US auto industry.Demand has dwindled and steelmakers, notably...

Bank of Japan to study capital boost

2009-04-13 THE Bank of Japan will examine boosting its capital to guard against possible losses it could incur from its purchases of commercial paper and corporate bonds, sources with knowledge of the matter said yesterday.Any such move would help improve the...

Toyota set to post 2nd straight net loss

2009-04-13 TOYOTA Motor, the world's biggest automaker, is expected to suffer a second consecutive annual loss because of the global economic slump and a stronger yen, Japan's Nikkei daily reported yesterday.Toyota's group operating loss may top ¥500...

'Stimulus plans to fan inflation'

2009-04-13 COSTLY international stimulus plans to fight the economic crisis ultimately risk fanning inflation, German Finance Minister Peer Steinbrueck was quoted Saturday as warning.Steinbrueck told the Bild newspaper "we are preparing the next crisis...

China farmers set precedent with group bank loan

2009-04-13 MORE than 150 rural households in Liaoning Province have secured a collective bank loan using their farmland as collateral, setting a precedent which could see more poor rural families get access to bank loans, state media reported yesterday. Under...

Summit mess sets back Asia's crisis fight

2009-04-13 THE dramatic cancellation of an Asian summit after rampaging Thai protesters stormed the venue has set back a regional effort to tackle the global economic crisis, analysts said.The Association of Southeast Asian Nations (Asean) was to have hosted...

Sunday, 12 April 2009

Microsoft, Yahoo! in search, ad talks

2009-04-12 MICROSOFT and Yahoo! have held "early discussions" about possible Internet search and advertising partnerships, a leading Silicon Valley technology website reported on Friday.The talks apparently included a face-to-face meeting last week...

Obama sees glimmers of hope for US economy

2009-04-12 PRESIDENT Barack Obama said Friday he saw "glimmers of hope" that the US economy may be wrestling free of a paralysing recession but warned of "a lot of work" ahead to nurse it back to health."We're starting to see progress, and if we stick with it...

China in better shape, says Wen

2009-04-12 CHINA'S economy is in a better shape than expected with March industrial output growth exceeding forecasts, but it still faces big challenges, Premier Wen Jiabao said yesterday.Wen, speaking on the day when the central bank reported a record rise in...

BUSINESS BRIEFS

2009-04-12 Steve Jobs maintains grip at AppleWASHINGTON: More than three months into a medical leave from Apple Inc, Chief Executive Steve Jobs remains closely involved in key aspects of running the company, the Wall Street Journal reported yesterday, citing...

Chief executive of DBS Group dies

2009-04-12 RICHARD Stanley (picture), chief executive of Singapore's DBS Group, died yesterday and Southeast Asia's biggest banking group said it will continue to be run by Chairman Koh Boon Hwee while the board develops a succession plan.The strategic...

Saturday, 11 April 2009

Islamic banking sees light amid global financial crisis

2009-04-11 ISLAMIC finance is slowing as the global financial crisis hits its hubs in Malaysia and the Gulf, but the sector now has a chance to move on to Western economies seeking to boost their financial centres.Regulatory differences still plague efforts to...

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