Business » World

Monday, 12 October 2009

Oil dollars helped Mideast weather crisis

2009-10-12 THE Middle East has weathered the global economic downturn better than other parts of the world because its energy exporters were able to tap billions of dollars in oil profits collected when prices were booming, the International Monetary Fund...

Sunday, 11 October 2009

WORLD BUSINESS IN BRIEF

2009-10-11 GCC to spend US$70m on energy projectsBRUSSELS: The Gulf Cooperation Council countries were expected to spend US$70 million ($97.5 million) on energy projects during 2009, half of which in power and water sectors. Renewable energy is the only...

Trichet says not yet time to halt 'extraordinary measures'

2009-10-11 EUROPEAN Central Bank President Jean-Claude Trichet said Friday it is still not time for the bank to start implementing exit strategies from the "extraordinary measures" it has taken amid the economic crisis.Speaking at the University of...

Russia's WTO membership doubtful

2009-10-11 IT MAY take another world economic downturn to persuade everyone, but there is still a chance the long-running Doha round of world trade talks can be completed, a former WTO head said on Friday. "I am mildly optimistic if the adults focus we...

GM sells Hummer brand to China machinery maker

2009-10-11 GENERAL MOTORS Co signed a deal on Friday to sell its iconic but tarnished Hummer brand to an investment partnership headed by an obscure Chinese machinery maker in an agreement that underscores the fast rise and global ambition of the Chinese auto...

UK to grow more strongly: Brown

2009-10-11 BRITISH Prime Minister Gordon Brown yesterday said the UK economy will grow more quickly than expected next year, rejecting Conservative suggestions that tough choices and years of hardship were needed to kick-start growth.Speaking to the right-...

JPMorgan, two banks to pay US$100m settlement: lawyer

2009-10-11 JPMORGAN CHASE & Co and two other investment banks have agreed to pay US$100 million to settle a lawsuit over their contribution to investor losses in the collapse of American Business Financial Services Inc, the bankruptcy trustee's lawyer said...

Saturday, 10 October 2009

Watchdogs to focus on systemic risks

2009-10-10 GLOBAL securities regulators have agreed to focus more on the risks products and markets pose to the broader financial system as they reassess their role in light of the credit crunch. "We are setting out a standard telling regulators that you...

US challenges EU poultry ban

2009-10-10 THE United States announced Thursday that it would press ahead with a trade complaint initiated in the final days of ex-President George W Bush's tenure by asking the World Trade Organisation to investigate an EU ban on American poultry.Washington...

Ultra-rich want kids to know the ropes

2009-10-10 THE ultra-rich are taking a more hands-on approach to investing and protecting their fortunes, and are increasingly determined that their children also know the ropes, wealth managers say.The ultra-wealthy those with at least US$30 million ($41.8...

Rosier economy view lifts world oil demand forecast

2009-10-10 WORLD oil demand will recover at a faster pace than previously expected for the rest of this year and next as the economy picks up, the International Energy Agency yesterday said.In a monthly report, the agency, which advises 28 industrialised...

WORLD BUSINESS IN BRIEF

2009-10-10 Air freight volume decline slowsLONDON/BRUSSELS: European airline freight volumes are shrinking more slowly than for several months, data showed yesterday, fuelling hopes of a broad-based economic recovery. Cargo shipments a widely-watched...

Wealth funds cautiously returning to the market

2009-10-10 THE world's sovereign wealth funds made 11 investments totalling US$3.5 billion ($4.9 billion ) in the second quarter, the lowest spending since the final three months of 2004, according to a report to be published this week.Global consultancy...

Europe, US stocks steady, Asia up

2009-10-10 EUROPEAN and US stock markets were little changed yesterday as investors took a breather at the end of a week when stocks shot higher amid mounting optimism about the global economic recovery. Chinese shares rallied as traders returned to their...

Friday, 9 October 2009

WORLD BUSINESS IN BRIEF

2009-10-09 US new jobless claims dip to 9-month lowWASHINGTON: New claims for US unemployment benefits dropped to a nine-month low in the past week, the government yesterday said in a report offering a hopeful sign for the labour market and an economic...

US$83b annual investments needed to feed world in 2050

2009-10-09 THE world needs to invest US$83 billion ($115.6 billion) a year in agriculture in developing countries to feed 9.1 billion people in 2050, the United Nations' Food and Agriculture Organisation yesterday said.World agriculture needs massive...

Saudis want aid if world cuts oil use

2009-10-09 THERE are plenty of needy countries at the United Nations climate talks in Bangkok that make the case they need financial assistance to adapt to the impacts of global warming. Then there are the Saudis.Saudi Arabia has led a quiet campaign during...

Earnings pull up world stocks

2009-10-09 WORLD stock markets yesterday rose after a solid start to the US third-quarter corporate earnings season and better than expected US jobless data solidified hopes that the global recovery is on a sound footing.European stocks tracked their Asian...

The rise of the 'Chinese century'

2009-10-09 EXPLOSIVE growth in China and India, coupled with Japan's clout as the world's No 2 economy, has long been expected to shift economic power from the US to Asia as this century progresses. The financial crisis and resulting Great Recession are...

US budget gap to hit record US$1.4t in '09

2009-10-09 THE US budget deficit is expected to hit a record US$1.4 trillion ($1.95 trillion) in 2009, some US$950 billion greater than the shortfall recorded last year, the Congressional Budget Office said Wednesday.Congress's non-partisan financial watchdog...

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