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Monday, 9 February 2009

UK probes big bonus, risk-taking links

2009-02-09 BRITAIN yesterday announced it will look into whether the promise of big bonuses lured bankers into taking excessive risks, precipitating the global financial crisis.It will do so as part of a larger review of how banks are managed, announced by...

Deal on US stimulus plan seen this week

2009-02-09 US Democratic Senator Charles Schumer yesterday said he expects the House of Representatives and Senate will agree to a final economic stimulus bill by the end of the week. "We will have a bill by the end of this week. The two bills are quite...

Japan may boost stimulus package

2009-02-09 JAPAN'S economy minister Kaoru Yosano yesterday said the government may consider offering an extra economic stimulus package if the economy deteriorates further."I think that would be a wise move," Yosano told the private broadcaster TV...

Some see slivers of hope amid gloom

2009-02-09 EVEN as economic indicators point to an increasingly brutal recession, some analysts see tentative signs of a bottom in sight for the worst economic slump in decades.Few economic forecasters are calling for a quick improvement but some argue that...

Sunday, 8 February 2009

BUSINESS BRIEFS

2009-02-08 DreamWorks, Universal end dealLOS ANGELES: DreamWorks SKG, the movie company controlled by Steven Spielberg, and Universal Pictures on Friday severed their film distribution pact, sending DreamWorks into advanced talks with Disney where it expects...

M'sia Airlines offers 1 million cheap fares

2009-02-08 THE Malaysia Airlines Travel Fair 2009, which will be held on Feb 10-19, is offering over one million seats at discounts of up to 70 per cent. In a statement here yesterday, Malaysia Airlines (MAS) said tickets could be purchased via its website,...

Opec may cut stocks in March, says Iraq

2009-02-08 OPEC is likely to decide to cut oil production targets when it meets in March, which should help prices gradually rise back above a fair price of US$70 a barrel, Iraqi Oil Minister Hussain al-Shahristani said yesterday.He also said he will seek new...

Pioneer to exit flat-panel TV business

2009-02-08 JAPAN'S Pioneer Corp is to quit its loss-making flat-screen television business in a sweeping overhaul of its operations, the Nikkei business daily reported yesterday.The company had planned to end in-house production of plasma panels by the end of...

Crisis draining IMF resources

2009-02-08 THE International Monetary Fund (IMF) may be out of resources in the next six to eight months as the current financial crisis may require more funds, its Managing Director Dominique Strauss-Khan said."Today, the IMF's resources are enough to...

New world financial order urged

2009-02-08 Asian central banks, including Brunei, also called for deeper regional cooperation. ASIAN central banks, including Brunei's, yesterday called for a new framework to regulate global financial markets as the world grapples with the worst financial...

US senators reach deal on stimulus bill

2009-02-08 PRESIDENT Barack Obama's Democratic Senate allies on Friday unveiled a pared-down plan to pump at least US$780 billion into the ailing US economy and vowed to pass it over the weekend.Obama on Saturday hailed the provisional deal as one providing...

Saturday, 7 February 2009

British Airways set to post loss

2009-02-07 BRITISH Airways is set to post a record loss for its fourth quarter as it continues to battle falling demand and weak sterling, but its shares rose as analysts said the carrier should survive the economic downturn.The airline said yesterday it had...

World stocks gain for 4th day, US jobs data in view

2009-02-07 WORLD stocks rose for the fourth straight day yesterday as expectations grew that Washington will make new moves to shore up the battered financial system, while the US dollar slipped before key US jobs data.The US Senate was due to resume debate on...

S'pore PM's wife to exit as Temasek CEO

2009-02-07 THE wife of Singapore's prime minister will step down after five years as chief executive of Temasek Holdings, one of the world's largest sovereign wealth funds, the firm said yesterday.Ho Ching (pictured), the wife of Lee Hsien Loong, will be...

Asia export slump could last till 2011: Shippers

2009-02-07 THE slump in Asian trade could last into 2011, putting more shipping lines out of business and potentially aggravated by signs of rising protectionism, the Hong Kong Shippers' Council said yesterday.Sunny Ho, executive director of the council, which...

Singapore Islamic bank eyes region

2009-02-07 THE Islamic Bank of Asia, backed by Southeast Asia's top lender, is on the hunt for acquisition opportunities in Malaysia and Indonesia to gain a foothold in the populous Muslim retail markets.Islamic banks are turning to retail consumer demand for...

BUSINESS BRIEFS

2009-02-07 br />Non-Opec supplies curbed by price fallLONDON: Non-Opec oil supplies are expected to stagnate in 2009, heightening concerns they are nearing their peak as low crude prices and scarce credit slows efforts to replace output from rapidly...

Toyota tops list of giants seeing red

2009-02-07 TOYOTA Motor, the world's biggest automaker, warned yesterday it expects an annual operating loss of US$4.9 billion, its first ever, as the economic crisis sends car sales plunging.But Toyota said it currently had no plans to close plants and it...

Grim corporate figures underline global crisis

2009-02-07 GRIM corporate earnings data from the world's biggest automaker and thousands of job losses underscored yesterday the urgency driving debate over Washington's massive economic stimulus plan.British Airways, Japan Airlines and a clutch of other big...

UK posts record number of firms gone bust

2009-02-07 MORE companies went bust in England and Wales last year than in any year since 1994 after Britain plunged into recession.Some 15,535 businesses hit the wall last year, 24 per cent more than the previous year and the biggest jump since the start of...

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