Tuesday, 10 November 2009

Dollar slides after G20; euro rallies above US$1.50

2009-11-10 THE dollar fell broadly on Monday, pushing the euro above US$1.50, after a weekend G20 meeting and US jobs data last week did little to change the outlook that US interest rates will stay low for some time.The conviction that US, and other, interest...

WORLD BUSINESS IN BRIEF

2009-11-10 UK banks accused of 'bullying' clientsLONDON: Three of London's best-known brokerages have accused Britain's bailed-out banks of "bullying" debt-burdened corporate clients into using their investment banking services, skewing already tough...

Cenbanks to phase out support

2009-11-10 CENTRAL banks will phase out their extraordinary crisis measures in a gradual but timely way in order to ensure price stability, top policymakers said yesterday.European Central Bank President Jean-Claude Trichet, who chaired talks on the global...

Monday, 9 November 2009

China offers Africa US$10b loan over 3 years

2009-11-09 CHINESE Premier Wen Jiabao offered Africa US$10 billion in concessional loans over the next three years on Sunday, saying China was a "true and trusted friend" of the continent and its people.The aid offer is double that unveiled by...

India to hasten financial sector reform

2009-11-09 INDIA'S long-stalled reforms to its financial sector gained momentum yesterday after Prime Minister Manmohan Singh said he would push through legislative changes, including the insurance sector which foreign players are eyeing. Investors have been...

WORLD BUSINESS IN BRIEF

2009-11-09 Canada's Talisman strikes oil in PeruLIMA: Canada's Talisman Energy Inc has found light crude in an exploration bloc in northern Peru, President Alan Garcia said on Saturday, days after he announced a large natural gas find in an Amazon region....

Corruption costs poorer states up to US$40b per year

2009-11-09 CORRUPTION costs developing nations US$20 to US$40 billion each year, while emerging markets and financial centres are increasingly havens for stolen assets, a top World Bank official said yesterday.Managing director Ngozi Okonjo-Iweala said "...

Yes to stimulus package, tepid reaction to bank bailout fund

2009-11-09 FINANCE officials from rich and developing countries have pledged to maintain emergency support for their economies until recovery is assured, but failed to reach a clear agreement to bear the cost of fighting climate change.There was also a mixed...

Ezdan to sell property portfolio

2009-11-09 QATAR'S Ezdan Real Estate Co expects its net profit in the fourth quarter to be similar to that of the third and is aiming to sell part of its property portfolio by year-end to a Malaysian-based REIT to finance new projects, its managing director...

Sunday, 8 November 2009

Brown wants Tobin Tax revival

2009-11-08 BRITISH Prime Minister Gordon Brown told G20 finance ministers at the meeting in Scotland that "a global financial transactions levy" would be one way "to reflect the global responsibilities of financial institutions to society." Although Brown...

Yemen exports LNG from new plant

2009-11-08 YEMEN began exporting liquefied natural gas (LNG) from its newly built LNG plant in Balhaf on the Gulf of Aden yesterday, with the first shipment destined for South Korea.In a hillside ceremony overlooking the coast, President Ali Abdullah Saleh...

UK joins G20 push for world levy on banks

2009-11-08 BRITAIN threw its weight yesterday behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a US$100 billion deal to meet the cost of climate change.British Prime Minister Gordon Brown urged...

Apple's first French store opens at the Louvre

2009-11-08 COMPUTER giant Apple Inc will open its first French store beneath the Louvre museum yesterday just two weeks after Microsoft opened a theme café to promote its Windows 7 software.Although Microsoft had a head start promoting its new Windows...

WORLD BUSINESS IN BRIEF

2009-11-08 China raises Africa aid despite crisisSHARM EL-SHEIKH: China will increase investment in and aid to African countries despite the effects of global economic crisis, according to draft agreements to be signed at a summit in Egypt today. The summit...

Glaxo now sole supplier of H1N1 vaccine to Saudi

2009-11-08 BRITISH drugmaker GlaxoSmithKline is currently Saudi Arabia's sole supplier of an H1N1 flu vaccine but the kingdom may include other firms for the supply of a nationwide inoculation campaign, the health ministry said.Saudi Arabia's vaccination...

IMF, EU delay Romania loan amid political crisis

2009-11-08 THE International Monetary Fund (IMF) and the European Union said Friday they would delay the next instalments of a loan to Romania until a new government was formed, dealing a new blow to the heavily recession-hit economy."We will proceed to...

Saturday, 7 November 2009

WORLD BUSINESS IN BRIEF

2009-11-07 G20 ministers to firm up global recoveryST ANDREWS: G20 finance ministers were to meet here yesterday to shore up the recovery from the global financial crisis and discuss funding for a still uncertain agreement on climate change. The ministers...

Fortune names Jobs 'CEO of Decade'

2009-11-07 FORTUNE Magazine crowned Apple top dog Steve Jobs "CEO of the Decade" in its newest edition."The past decade in business belongs to Jobs," Fortune editor-at-large Adam Lashinsky wrote in an article extolling the 'imperious,...

World stocks slide after US jobs data release

2009-11-07 GLOBAL stocks and commodities retreated yesterday while the dollar gained and gold hit a record high after US unemployment losses came in much higher than forecast, a blow to optimism on the economic outlook.US employers cut a more-than-expected...

US jobless rate rises to 10.2%

2009-11-07 THE US unemployment rate jumped to 10.2 per cent in October as 190,000 jobs were shed, the government yesterday said in data highlighting ongoing struggles of an economy emerging from recession.The Labour Department report, seen as one of the best...