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Friday, 22 May 2009
GLOBAL index compiler FTSE and the Thailand stock exchange have launched a syariah stock index to meet demand for Islamic assets, FTSE yesterday said.The index uses asset-based debt screening, resulting in a less speculative methodology and ensures...
FIAT SpA is convinced it has more than a 50 per cent chance of succeeding in its bid for Opel because it does not think the other contenders have the expertise to revive the car maker, an Italian newspaper said.But General Motors Corp, which is...
THE world economy is showing signs of recovery but the banking system that sparked the downturn is still not back to full health, the head of the OECD grouping of rich countries yesterday said."You have some signs of recovery, I would not say...
UAE on Gulf Arab monetary unionRIGA/DUBAI: The United Arab Emirates yesterday held the door open to rejoining the Gulf Arab monetary union, a day after pulling out of the project, although it said it was not interested in participating for the...
Thursday, 21 May 2009
MSCI'S main world stock index hit a new high for the year yesterday, taking it to levels last seen in November 2008.The all-country world index reached 245.32, gaining around 1.75 per cent on the day. The index was last at this level on November 5...
THE United Arab Emirates has pulled out of a proposed monetary union deal being negotiated by the six-nation Gulf Cooperation Council (GCC), a foreign ministry official yesterday said."The UAE has decided not to be party to the accord on Gulf...
THE squabbling cousins who run Porsche and Volkswagen appeared to bury the hatchet on Tuesday, agreeing to work together once more towards a combination of the two German carmakers.Porsche Chairman Wolfgang Porsche and Volkswagen Chairman Ferdinand...
PFIZER Inc has struck licensing agreements with two Indian-based companies, as the world's largest drugmaker seeks new avenues of growth in generics and emerging markets.The deals announced by Pfizer yesterday with Aurobindo Pharma Ltd and Claris...
OIL prices briefly pushed above US$62 a barrel yesterday to touch a new six-month high on bullish inventory data and a spate of refinery accidents in the US in spite of weak market fundamentals.US crude oil and gasoline stockpiles fell sharply last...
THE US Congress on Tuesday sent President Barack Obama a housing rescue bill that aims to save 400,000 homeowners from foreclosure and will spend US$2.2 billion on programmes to aid the homeless.Lawmakers have been trying to hash out a compromise...
JAPAN'S economy shrank at a record pace in the first quarter and any lasting recovery will hinge on how soon the global economy can be healed and demand in the West can grow, economists said.Economists say there are signs the world's worst recession...
GOOGLE, concerned by the recent departures of several top executives, has developed an algorithm to try to identify which employees are likely to quit, the Wall Street Journal reported Tuesday.The Journal said the Internet search and advertising...
PLUNGING western demand for developing Asia's exports would trim the region's potential economic output this year by 2.8 per cent, the Asian Development Bank yesterday said.It said that as the global slump in 2009 hits gross domestic product growth...
GLOBAL mobile phone sales fell a record 9.4 per cent in the first quarter to 269 million units and will likely decline 4.2 per cent for the full year, the Gartner research group yesterday said.The anticipated fall comes after more than six years of...
Germany to pick Opel bidder next weekFRANKFURT: Germany will choose its preferred bidder for General Motors' Opel unit by early next week, a minister said yesterday, after the stricken US auto giant said there were at least three potential suitors...
ASIAN rice prices extended recent falls this week due to a lack of fresh demand plus sales from the Thai government's stocks, traders said.The benchmark 100 per cent B grade white rice fell to US$525 per tonne yesterday from last week's US$530,...
ISLAMIC venture capital, a sub-sector of Islamic finance, needs to be nurtured going forward as it is still new in the country.Malaysia's Deputy Minister of Finance Senator Dr Awg Adek Hussin said to date, only a fund has been set up by Malaysia...
Wednesday, 20 May 2009
BRAZIL'S president spent a day of meetings with Chinese leaders in Beijing yesterday, during which analysts said he could broach a plan to ditch the US dollar in his nation's trade with China.Luiz Inacio Lula da Silva met his Chinese counterpart Hu...
THE world's top policymakers offered their brightest assessment of the global economy in months, saying it was stabilising and could start growing again as soon as late this year.Australia's central bank governor Glenn Stevens yesterday joined a...
SINGAPORE state investor Temasek's brief love affair with Wall Street banks has ended in tears, but the country's biggest sovereign wealth fund GIC is still sticking with its bets.The Government of Singapore Investment Corp (GIC), which has ploughed...
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