Business » World

Monday, 27 April 2009

Thai mess to shave 1%-2% from GDP

2009-04-27 THAILAND'S political turmoil is likely to cause a one to two per cent contraction of gross domestic product in 2009, on top of a three per cent drop driven by the global recession, Finance Minister Korn Chatikavanij said on Saturday. "We're...

World Bank sets US$55b infrastructure aid plan

2009-04-27 THE World Bank on Saturday launched a US$55-billion infrastructure investment programme as part of efforts to help developing countries weather the worst global slump in decades.It said two vehicles were being set up its own Infrastructure Recovery...

BUSINESS BRIEFS

2009-04-27 US Fed to stay aggressiveWASHINGTON: The Federal Reserve is likely to maintain its aggressive efforts to lift the US economy out of deep recession but also seek to lay the groundwork for a potential recovery, analysts say. The Federal Open Market...

Australia doles out cash aid

2009-04-27 CASH registers are ringing across Australia as more than seven million economically-stimulated consumers raise their wallets in thanks for "manna from Kevin".A total of A$7.7 billion (US$5.5 billion) in cash bonuses from Prime Minister...

Indonesia-Vietnam rice deal

2009-04-27 INDONESIA has an option to buy about one million tonnes of rice from Vietnam in the next three years if it needs to build up rice stocks and ensure domestic food security, Trade Minister Mari Pangestu said yesterday."We don't have to import if...

China to spend US$10b of stimulus

2009-04-27 CHINA'S central government will spend 70 billion yuan (US$10.3 billion) in the third tranche of its stimulus package, falling short of market expectations, a Chinese newspaper reported.Investment in sectors that have stronger prospects will be...

M'sia okays power cable

2009-04-27 MALAYSIA has approved plans for a power cable linking the controversial Bakun hydroelectricity project in Sarawak state on Borneo island to the mainland, according to a report yesterday.Energy Minister Peter Chin Fah Kui told the Star daily the...

Japan may make early exit from recession

2009-04-27 JAPAN, one of the biggest victims of the global economic downturn, may also be one of the first countries to exit recession as its stricken export engine sputters back to life, analysts say.But prospects for a full-fledged recovery from the country'...

US$50 oil okay for now: Gulf Opec states

2009-04-27 GULF oil producers yesterday said they can tolerate moderate crude prices for longer to help revive global growth, but shared a concern with consumer nations that a prolonged period of low prices could sow the seeds of a future fuel price spike.At...

Limits on energy speculation urged

2009-04-27 MAJOR oil-producing and consuming nations in in the Middle East and Asia called for limits on speculation in the energy industry as they ended a one-day dialogue here yesterday.Ministers and officials from 21 countries said continuous investment was...

UK's rich 'poorer' due to crisis

2009-04-27 BRITISH-BASED steel magnate Lakshi Mittal (picture) leads the list of the country's billionaires who've lost the most in the economic downturn, seeing his wealth plummet 61 per cent, a survey shows.As the number of billionaires in the United Kingdom...

Sunday, 26 April 2009

BUSINESS BRIEFS

2009-04-26 Ford sees light at end of tunnelNEW YORK: Ford Motor Co said Friday it remains on a slow road to recovery by 2011 without help from the government as it posted a quarterly loss of US$1.4 billion that was not as bad as feared. Ford said it ended the...

Developing nations hit harder

2009-04-26 THE global economic and financial crisis is disproportionately hurting developing countries, which will have to deal with the fallout long after advanced economies, Group of 24 nations said on Friday.The G24, made up of emerging and developing...

China, Taiwan spur ties

2009-04-26 ENVOYS from rivals China and Taiwan meet this weekend to discuss a trade agreement and sign pacts to increase economic cooperation.The talks come as Taiwan President Ma Ying-jeou tries to develop more amicable relations with the mainland following...

World growth priority: Opec

2009-04-26 OPEC Middle East oil producers yesterday said they wanted oil output policy to help support world economic recovery.A month ahead of the next Organisation of the Petroleum Exporting Countries, oil ministers from Saudi Arabia, Kuwait and Qatar showed...

'Worst of world recession may be over'

2009-04-26 FINANCE chiefs from the G7 powers said on Friday the global economy may be past the worst phase of a recession although recovery was not yet assured, and they pledged to make sure that big financial firms are sound.Group of Seven finance ministers...

Saturday, 25 April 2009

Financial crisis deepens with bleak data from Europe, Japan

2009-04-25 BRITAIN'S recession deepened yesterday and Japanese banking giant Nomura posted a record loss as world finance chiefs gathered in Washington to hash out plans for rescuing the global economy.In Britain, the government's hopes of a quick recovery...

Finance chiefs to draw up crisis response

2009-04-25 THE finance chiefs of the Group of 20 rich and developing countries were scheduled to meet yesterday to try to fine-tune their responses to the global economic crisis after their crunch summit in London.The meeting will be preceded by that of the...

German business survey, Ford boost stocks

2009-04-25 WORLD stocks and the euro rose yesterday after better-than-expected Ford Motor results and an upbeat key German corporate sentiment survey, while disappointing UK growth data knocked sterling.Ford posted a smaller-than-expected first-quarter loss,...

BUSINESS BRIEFS

2009-04-25 br />Revamp bond plan, IMF urgedWASHINGTON: Brazil and other emerging economies are willing to provide additional financing to the International Monetary Fund but they are still not happy with the capitalisation mechanism proposed by the...

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