Business » World

Saturday, 24 October 2009

WORLD BUSINESS IN BRIEF

2009-10-24 GM puts on hold signing of Opel saleFRANKFURT: General Motors put on hold a deal to sell a 55 per cent stake in carmaker Opel to a Russian-backed consortium led by Canadian automotive group Magna, GM's chief negotiator on the deal yesterday said. No...

Developing world must boost broadband use, says UNCTAD

2009-10-24 DEVELOPING countries risk missing out on the benefits of information technology because of their lack of broadband infrastructure, a UN agency said.Lack of broadband Internet access deprives countries of the possibility of building up offshoring...

US slashes pay at bailed-out firms

2009-10-24 THE US pay czar on Thursday slashed cash compensation for the top earners at seven companies that received massive taxpayer bailouts, while allowing for some increases to retain key talent.Kenneth Feinberg, charged with reworking pay contracts for...

More countries imposing VAT: poll

2009-10-24 CASH-STRAPPED countries are increasingly imposing indirect taxes, such as value-added taxes, as governments hunt for new revenue sources, a survey by an accounting firm released on Thursday said.In Europe this year average indirect tax rates rose to...

Windows 7 plan lowers Microsoft earnings

2009-10-24 MICROSOFT Corp yesterday said its net income fell 18 per cent in the last quarter, largely because it deferred revenue to let summertime PC buyers get free upgrades to Windows 7, which launched Thursday.Investors looked past that accounting...

Malaysia developing syariah parameters

2009-10-24 BANK Negara Malaysia is developing Syariah parameters to promote consistent application of Islamic financial contracts, and bring about greater clarity in the system.In its Economic Report 2009/2010, released here yesterday, the Ministry of Finance...

Friday, 23 October 2009

'Islamic finance markets need greater govt help'

2009-10-23 GOVERNMENTS in Muslim nations in the Middle East and Asia are increasingly turning to Islamic finance to raise funds, giving a necessary but perhaps not sufficient shot in the arm for the US$1 trillion industry.Deeper liquidity is essential to...

Trade cases jump amid crisis: WB

2009-10-23 GOVERNMENTS started 53 per cent more probes into other countries' trading practices in the third quarter compared to a year earlier as industries sought cover from imports amid the financial crisis, a World Bank report said on Wednesday.Industry...

Asia, Europe property markets start rebound

2009-10-23 THE worst of the global commercial property meltdown is over, although the recovery will be uneven as rebounding markets in Asia and Europe contrast with more subdued US conditions, a report said on Wednesday. The rally is supported by the...

OPEC may raise output targets

2009-10-23 OPEC ministers would raise the group's output targets at their December meeting if oil inventories fall back and the world economy recovers more, OPEC's secretary-general yesterday said.Any formal output hike then by the OPEC would follow more than...

Weak earnings knock stocks

2009-10-23 DISAPPOINTING corporate results yesterday knocked equities lower, set Wall Street up for a poor start and helped the dollar bounce off 14-month lows.Gold and oil both slipped as the dollar rose. Eurozone government debt was stronger.Investors in...

Microsoft unveils Windows 7

2009-10-23 MICROSOFT Corp yesterday launched Windows 7 in its most important release for more than a decade, aiming to win back customers after the disappointing Vista and strengthen its grip on the PC market.The world's largest software company, which powers...

WORLD BUSINESS IN BRIEF

2009-10-23 Business urged to protect nature OSLO: Companies must step up efforts to safeguard nature, according to a UN-backed study yesterday that praised consumer foods giant Unilever as among few firms doing enough. The report, looking at 31 firms in the...

Thursday, 22 October 2009

Bleak outlook for future food supply

2009-10-22 THE world will face a scarcity of food with rising demand in emerging markets, coupled with increasing constraints on the ability to grow more crops, according to Standard Chartered Global Research.The issue will lead to sustained food price rises,...

'Invest in fossil fuels or face energy crisis'

2009-10-22 THE world must invest heavily in fossil fuels or face an energy crisis, said leaders of the oil industry gathered in London this week as they voiced scepticism about prospects for a climate change deal in Copenhagen.The oil industry has shifted its...

WORLD BUSINESS IN BRIEF

2009-10-22 Britain needs more banks: ministerLONDON: Britain needs more banks, and the government will encourage new and different entrants as part of its pullback from supporting the industry, finance minister Alistair Darling said on yesterday. "I made...

Stocks, dollar, oil, bonds all tumble

2009-10-22 RECENT trading patterns broke at least temporarily yesterday with both the dollar and world stocks slipping, the latter weakened particularly by falling emerging markets.Wall Street looked set for a negative start. Crude oil dropped as well,...

Cost-cutting helps Yahoo! triple profit

2009-10-22 AGGRESSIVE cost-cutting moves helped Yahoo! more than triple its net profit despite a 12-per cent decline in revenue as the Internet company reported its third quarter results on Tuesday.Yahoo! said net profit soared more than 244 per cent in the...

BoE chief's split bank idea unworkable: PM

2009-10-22 BRITISH Prime Minister Gordon Brown dismissed yesterday Bank of England (BoE) Governor Mervyn King's view that splitting banks' retail and investment arms could help prevent a repetition of the financial crisis.King suggested separating core aspects...

GM crops can increase yield, lower environmental impact

2009-10-22 THE world needs genetically modified crops both to increase food yields and minimise the environmental impact of farming, Britain's top science academy said yesterday.The Royal Society said in a report the world faced a "grand challenge"...

Pages