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Friday, 20 February 2009

ADB says it needs capital boost

2009-02-20 THE Asian Development Bank hopes to secure a three-fold capital boost in May so it can help emerging nations through the economic crisis and support environmental projects, its head said yesterday."Given the credit crunch in the international...

Thailand, Vietnam sign pact to stabilise prices of rice

2009-02-20 THE world's top rice exporters, Thailand and Vietnam, have agreed to cooperate to stabilise prices, a senior Thai official said yesterday, but details have not been set yet and traders in both countries were sceptical.The two countries signed a...

Thursday, 19 February 2009

Investors troop to less risky assets; world shares fall

2009-02-19 WORLD share prices struggled to make headway yesterday as worries over a deepening recession undermined confidence, pulling investors toward less risky assets including government debt and gold.In currencies, the euro recovered slightly after...

'Recession will be worst since 1930s'

2009-02-19 FORMER US Federal Reserve chairman Alan Greenspan said on Tuesday the current global recession will "surely be the longest and deepest" since the 1930s and more government rescue funds are needed to stabilise the US financial system....

Asia's ranks of poor could swell

2009-02-19 MORE than 140 million people could be plunged into poverty and 23 million lose their jobs in Asia this year as the global financial crisis batters the region, according to a study released yesterday.The crisis could also slow rural-to-urban...

McD's plans 500 stores in China

2009-02-19 McDONALD's Corp, the world's largest fast-food chain, is optimistic about business prospects in China and plans to open about 500 stores in the country in three years, a senior executive said yesterday.McDonald's China operations have not been...

Chinese leaders: Spend, have fun, spend!

2009-02-19 ACROSS China, communist party officials are handing out millions of food, shopping, and cinema coupons in an effort to get people to go out, have a good time and spend, spend spend.Chinese people are among the world's most determined savers, with...

BUSINESS BRIEFS

2009-02-19 br />China provinces trot out Buy Local driveBEIJING: Chinese provinces are scrambling to try to shore up local firms through mandates to buy locally, in a sign that the protectionism economists have warned about is not just an international...

US-China tensions set to rise

2009-02-19 TENSIONS between the United States and China are set to increase during current financial turmoil but any trade war can adversely impact the two key drivers of global growth and the rest of the world, experts warn.Trade frictions will erupt as the...

Taiwan economy shrinks, rates cut

2009-02-19 TAIWAN'S economy shrank at a record annual pace of more than eight per cent in the fourth quarter, reflecting the exposure of Asian exporters to the brutal slump in world demand and tipping the island into a recession.Taiwan's central bank...

GM, Chrysler ask for more govt bailout money

2009-02-19 GENERAL MOTORS and Chrysler have requested another US$21.6 billion in bailout funds, adding to the long list of pleas for help facing the administration of US President Barack Obama.On Tuesday, the same day Obama signed into a law a US$787-billion...

Jobless rates seen rising in Gulf

2009-02-19 UNEMPLOYMENT among Gulf nationals is expected to rise after years of decline due to the impact of the global economic crisis on the oil-rich region, a Kuwaiti bank said yesterday.Fiscal constraints would likely prevent governments from creating jobs...

Wednesday, 18 February 2009

Stocks fall to two-week low on multitudes of woes

2009-02-18 GROWING concerns about deteriorating emerging European economies hit European shares and the euro yesterday, driving capital to safer government bonds and gold.World stocks fell to a two-week low while oil tumbled as concerns intensified about the...

Germany gets flicker of hope for economy

2009-02-18 GERMAN investor confidence staged another surprising gain in February, putting a glimmer of light into the German economy which is gripped by the worst recession since World War II.A financial confidence index compiled by the ZEW research institute...

S'pore records its biggest fall in exports in January

2009-02-18 SINGAPORE'S key exports in January fell by the largest amount on record, the government said yesterday, releasing data showing further evidence of the city-state's deepening recession.Non-oil domestic exports (NODX) fell by 34.8 per cent in January...

Apec to set up crisis response info exchange

2009-02-18 THE Asia-Pacific Economic Cooperation (Apec) secretariat has been directed to set up an information sharing mechanism to allow economies to share best practices in policy responses and identify possible areas for policy coordination and cooperation...

New products show rivalsplaying catch-up with Apple

2009-02-18 IF IMITATION is the sincerest form of flattery, there can be no higher tribute to the influence of US technology group Apple than a walk around the Mobile World Congress this year.The Californian group, like previous years, has stayed away from the...

BUSINESS BRIEFS

2009-02-18 br />Brazil mulls contesting Buy AmericanBRASILIA: Brazil may challenge the legality of a "Buy American" clause in the recently approved US economic stimulus package at the World Trade Organisation, Brazilian Foreign Minister Celso...

China rejects protectionism

2009-02-18 WHAT's the attitude of Chinese Government towards trade protectionism amid the global financial crisis?Trade protectionism measures have seriously destabilised international trade. Trade protectionism, with state interventions in trade conduct and...

S'pore GIC losses about S$50b: Sources

2009-02-18 GOVERNMENT of Singapore Investment Corp, which has helped bail out troubled global financial institutions, suffered an investment loss of about S$50 billion (US$33 billion) last year, sources told Dow Jones Newswires yesterday.In late 2007 and early...

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