Business » World

Saturday, 23 May 2009

'Alien' pests cost US$1.4T economic damage

2009-05-23 MANY governments are ignoring alien invasive species such as weeds or rats that may be causing US$1.4 trillion damage a year to the world economy, the head of the UN Environment Programme (UNEP) yesterday said. "Time to get tough on alien...

Friday, 22 May 2009

Yahoo plans social media acquisitions

2009-05-22 YAHOO Inc is looking to buy companies that will allow it to become a bigger player in social networking and revamp its family of products, Chief Technology Officer Ari Balogh said on Wednesday. "It's a good time to be buying now," he told...

Fiat confident of bagging Opel

2009-05-22 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...

Sony to cut ties with parts suppliers

2009-05-22 SONY Corp said it will halve the number of parts suppliers to slash costs under a turnaround plan that's testing the mettle of Chief Executive Howard Stringer.The Japanese electronics and entertainment company plans to cut purchasing costs by ¥...

Taiwan economy shrinks at record pace

2009-05-22 TAIWAN'S export-led economy shrank a record 10.24 per cent in the first quarter, worse than expected, due to poor exports and dismal private investment, prompting the statistics agency to cut its full-year growth forecast.But the worst should be...

BUSINES BRIEFS

2009-05-22 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...

YouTube gets 20 hours of video uploads per minute

2009-05-22 YOUTUBE just keeps getting bigger.The Google-owned video-sharing site said late Wednesday in a blog post that 20 hours of video are being uploaded to YouTube every minute.It said that in mid-2007, six hours of video were being uploaded to the site...

Vietnam to open oil, gas uni

2009-05-22 RESOURCE-RICH Vietnam is to build its first university dedicated to training people to work in the oil and gas industry, the government said yesterday, as it ramps up production.The university will be a unit of state-run Vietnam National Oil and Gas...

Crisis easing but banks still not in full health

2009-05-22 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...

Stocks tumble on grim UK, US outlook

2009-05-22 EUROPEAN and Asian shares fell yesterday weighed by grim outlook in the US and UK economies. The pan-European FTSEurofirst 300 index of top shares ended provisionally down 2.1 per cent at 857.58 points, breaking a five-day winning run, as a...

Opec seen keeping output steady

2009-05-22 OPEC oil exporters will agree next week to keep production levels unchanged as rising prices have eased pressure on budgets and there are hints of economic recovery over the next year, a Reuters poll showed yesterday.Eleven of 12 oil analysts and...

S'pore economy contracts less than expected in Q1

2009-05-22 SINGAPORE yesterday saw signs its worst-ever recession is bottoming out after its economy shrank less than expected in the first quarter, prompting the central bank to say it is comfortable with its policy stance.Singapore's economy shrank at an...

FTSE, Thai bourse launch Islamic stock index

2009-05-22 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...

Thursday, 21 May 2009

'Nurture Islamic venture capital'

2009-05-21 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...

Pfizer in generics deals with India firms

2009-05-21 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...

Cellphone sales plunge 9.4%

2009-05-21 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...

Obama set to sign housing aid bill

2009-05-21 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...

BUSINESS BRIEFS

2009-05-21 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...

World stocks rise to six-month high

2009-05-21 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...

Exports fall to shave 2.8% from Asia growth

2009-05-21 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...

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