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Thursday, 25 June 2009

AirAsia scraps admin charges

2009-06-25 MALAYSIAN budget carrier AirAsia yesterday scrapped administrative charges to boost passenger numbers but said it has not been hurt by the downturn that has affected most airlines worldwide.Chief executive officer Tony Fernandes said the company...

Bottom of recession nears: OECD

2009-06-25 THE advanced economies will soon hit the bottom of the recession and have begun the long haul towards a weak recovery by the end of the year, the OECD said yesterday as it revised up forecasts.The OECD said its 30 advanced economy members would now...

Oil price could surge on Iran crisis

2009-06-25 WORLD oil prices have so far not been pushed up much by post-election violence in key crude producer Iran but they could spike higher if the situation deteriorates, analysts warn.Iran has ruled out cancelling the disputed presidential June 12 vote...

China defends export restrictions

2009-06-25 CHINA yesterday rejected charges from the United States and Europe that its restrictions on raw materials exports violated international trade rules, saying that its policies were in keeping with WTO regulations.The European Union and the United...

BUSINESS BRIEFS

2009-06-25 br />World's rich lost 20% of wealthNEW YORK: The world's rich lost nearly 20 per cent of their total wealth in 2008 as volatile markets wiped out two years of growth, a Merrill Lynch study showed. The total value of the wealth of people with net...

Stocks up on strong US durable goods data

2009-06-25 A JUMP in durable goods orders is giving stocks a boost before the Federal Reserve's decision on interest rates.The stock market got a welcome surprise yesterday when the US Commerce Department said orders for big-ticket manufactured items rose 1.8...

Japan trade surplus grows

2009-06-25 JAPAN announced yesterday its biggest monthly trade surplus in a year, supporting hopes that the world's second-largest economy is slowly recovering from its worst recession on record.Exports exceeded imports for a fourth straight month, giving a...

Russia economy to shrink 7.9%

2009-06-25 THE Russian economy will shrink by 7.9 per cent in 2009 amid the global economic crisis, a sharper contraction than previously expected, the World Bank said yesterday. "Real economy and social impact on Russia was also larger than anticipated a...

Wednesday, 24 June 2009

Ford, Nissan to get US govt loans

2009-06-24 THE Energy Department is expected to announce it is lending money to the Ford Motor Co and two other automakers from a US$25-billion fund to develop fuel-efficient vehicles.Energy Secretary Steven Chu was scheduled to announce the loan funding for...

Australia, NZ banking outlook

2009-06-24 THE outlook for Australia and New Zealand's banking system is negative because of the slowing of the global and local economies, according to a ratings agency.The Australian Associated Press reported Moody's Investors Service also said the banking...

China shows rebound signs, but 'foundations not yet solid'

2009-06-24 CHINA'S economy is headed in the right direction but the foundations of the recovery are not yet solid, a Chinese central bank official said yesterday, adding to a chorus of voices cautioning against expectations of a rapid rebound from the global...

US set to launch WTO charge against China

2009-06-24 US Trade Representative Ron Kirk was expected to launch a WTO case against China yesterday for its export restrictions on raw materials.Industry sources said they expected the United States and the European Union would both announce a World Trade...

Airbus unveils 1st China-built plane

2009-06-24 AIRBUS delivered its first plane assembled outside Europe to its Chinese owner yesterday, as the world's largest plane maker extends its reach into fast-growing markets to fend off rival Boeing.Airbus, owned by European consortium EADS, handed...

Sabah positions itself as factory capital

2009-06-24 THE Sabah government aims to make the state the location of choice in Asia for resource-based manufacturing by 2025, said Chief Minister Datuk Seri Musa Aman.To achieve the vision, the state is looking at several phases starting with measures to...

BUSINESS BRIEFS

2009-06-24 br />Madoff lawyer seeks 12-year termNEW YORK: Bernard Madoff's lawyer asked a judge to sentence Wall Street's biggest thief to a punishment of less than life in prison, saying the court should not give in to the "mob vengeance" sought...

World stocks slip on economic worries

2009-06-24 WORLD stocks and oil slipped yesterday as concerns about the prospect for an economic recovery pushed key equity indexes into negative territory for the year.However, European stocks recouped some losses and Wall Street was set for a firmer open...

Rich, poor states debate finance reform

2009-06-24 RICH and poor nations edged closer to a deal on proposals for reforming the global financial system, but diplomats said there would have to be changes if a UN conference this week is to adopt them.A three-day UN General Assembly meeting on the...

Dreamliner delayed for 5th time

2009-06-24 BOEING said yesterday it would delay the first flight and delivery of its new 787 Dreamliner aircraft, the latest postponement in a programme seen as a key to the aerospace giant's future.Boeing said a new schedule for the first flight and delivery...

Tuesday, 23 June 2009

Developing countries to slip into recession

2009-06-23 MOST developing economies will slip into recession this year amid a global financial crisis that has prompted wealthy investors to pull their money out of projects for the poor, the World Bank warned yesterday. The developing world will grow 1.2...

WB slashes forecasts for most economies

2009-06-23 SENTIMENT at big Japanese manufacturing firms improved in the three months to June, data showed yesterday, but the World Bank said prospects for the global economy remain "unusually uncertain" as it cut 2009 growth forecasts for most...

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