Saturday, 19 December 2009

IN BRIEF

2009-12-19 Tanzania inflation rate downDAR ES SALAAM: Tanzania's inflation rate is expected to ease in coming months as food harvests hit the market but rising oil prices will keep pushing the price of other goods up, analysts said yesterday. The year-on-year...

Oil rises to US$73 a barrel

2009-12-19 OIL rose above US$73 a barrel yesterday, supported by the prospect of increased winter demand as a cold snap gripped the US Northeast and by a weaker dollar.The dollar fell from a more than three-month high on Friday, underpinning oil's gains. A...

Friday, 18 December 2009

Strikes put new pressure on Greek government

2009-12-18 STRIKERS took to the streets across Greece yesterday in protest at the socialist government's austerity measures aimed at heading off national bankruptcy.Thousands of workers walked off the job under a nationwide strike call, as the finance minister...

US congress bills may lead to break-up of financial giants

2009-12-18 FINANCIAL giants such as the Goldman Sachs Group could be broken up under two bills introduced in the US Congress on Wednesday, one with the backing of former Republican presidential nominee John McCain.Both would reinstate the 1930s-era Glass-...

Dollar leaps to 3-mth high; Greece woes dent euro

2009-12-18 THE dollar surged to a three-month high against a currency basket on Thursday, buoyed by an upbeat tone from the Federal Reserve, while the euro tumbled on fresh concerns about Greece's waning fiscal health.In thin pre-holiday liquidity, the euro...

Demand for US 'drones' to double over next 5 years

2009-12-18 THE US aerospace industry on Wednesday forecast that military demand for unmanned aircraft would double over the next five years after rising 600 per cent since 2004.Analysts agreed that unmanned planes remained wildly popular, and noted that many...

IN BRIEF

2009-12-18 German schnitzel goes bling blingBERLIN: A German snack bar is bucking the economic crisis with a posh twist on a favourite local dish: a veal fillet coated with gold leaf and truffles dubbed the world's priciest schnitzel. The Golden Imperial...

Dubai may repay Nakheel bonds

2009-12-18 DUBAI'S government may repay outstanding 2010 and 2011 Islamic bonds issued by Nakheel and consider providing further funds to its flagship company, Dubai World, the Financial Times said yesterday.The emirate rocked markets on November 25 with a...

Thursday, 17 December 2009

Europe stocks up, Asia down

2009-12-17 EUROPEAN stock markets rose yesterday following a report that global finance regulators will give lenders a decade or more to meet stricter capital rules.In Europe, the FTSE 100 index of leading British shares was up 33.19 points, or 0.6 per cent,...

Boeing Dreamliner takes to the skies after 2-yr delay

2009-12-17 BOEING Co completed the first test flight of its new lightweight carbon and titanium Dreamliner, but the flight was cut short because of bad weather.The flight was more than two years behind schedule because of manufacturing and design problems.The...

EU, US, LatAm sign deal to end banana row

2009-12-17 THE European Union and US initialled a deal on Tuesday with Latin American, African and Caribbean nations ending a decades-old trade war over bananas.The pact ends the world's longest-running trade dispute and also removes a potential obstacle to a...

IN BRIEF

2009-12-17 US regulator files suit against IntelWASHINGTON: The US Federal Trade Commission yesterday announced that it had filed suit against Intel, accusing the world's biggest computer chipmaker of illegally using its dominant market position to stifle...

Mobile sales to fall 0.7% this year, says Gartner

2009-12-17 WORLDWIDE sales of mobile devices are expected to decline by nearly 0.7 per cent this year and pick up again next year with nine per cent growth, Gartner research group said Tuesday.Gartner's forecast of an 0.67 per cent decline in sales in 2009...

Regulators to give banks Basel grace period: sources

2009-12-17 GLOBAL regulators will give banks a grace period before forcing them to implement stricter capital rules, sources said yesterday, easing concerns that lenders might need to issue massive amounts of shares in the near future.Goldman Sachs has...

Bernanke named Time magazine's 'Person of the Year'

2009-12-17 TIME magazine yesterday named Federal Reserve Bank Chairman Ben Bernanke its 2009 "Person of the Year"."The recession was the story of the year," Time managing editor Richard Stengel said in a statement. "Without Ben...

Wednesday, 16 December 2009

US Congress formally notified on Asia-Pacific trade talks

2009-12-16 US TRADE officials formally notified the US Congress on Monday of President Barack Obama's intention to negotiate a regional free trade deal with Brunei, Vietnam, New Zealand, Singapore, Chile and three other countries in the Asia-Pacific area.The...

IN BRIEF

2009-12-16 Gulf launches monetary agreementKUWAIT CITY: A Gulf monetary union pact took effect yesterday, the Kuwaiti finance minister said in a move that brings the energy rich region closer towards launching its own single currency. "The Gulf monetary...

WB to help Islamic finance standardise

2009-12-16 THE World Bank plans to support standard-setting bodies of the Islamic finance industry in turning their voluntary standards into binding banking regulations, a bank official said.The fledgling Islamic finance industry is governed by a patchwork of...

Opec upgrades forecast for 2010 oil demand

2009-12-16 THE Opec oil producers' cartel yesterday slightly upgraded its forecast for world oil demand growth next year, but said demand in advanced economies would contract again.World oil demand "is forecast to return to growth in 2010 following two...

World stocks edge down

2009-12-16 EUROPEAN stock markets fell yesterday and Wall Street opened lower after data showed US wholesale inflation rose more than expected last month.In afternoon European trading, the FTSE 100 index of leading British shares was down 0.7 per cent at 5,...