Business » World

Thursday, 4 June 2009

E Asia Summit leaders stand against protectionist measures

2009-06-04 EAST ASIAN SUMMIT (EAS) Leaders have underscored the critical importance of standing firm against protectionist and distortionary measures, and refraining from raising new barriers as the world faces one of the most severe economy crisis.In a joint...

Gold bugs, hum-bugs collide

2009-06-04 WITH gold poised to lurch above US$1,000 an ounce for a third time, the lines are being drawn between bulls who believe a dollar-hedging rally has only just begun and bears who say four-digit bullion will be fleeting.Fuelled by expectations of...

BUSINESS BRIEFS

2009-06-04 br />US factory orders rose 0.7% in AprilWASHINGTON: New orders received by US factories rebounded in April, government data showed, but the previous month's figure was sharply revised downwards to show a steeper drop. The Commerce Department...

Distrust of business

2009-06-04 DISTRUST of business has risen in the wake of the financial crisis and about half those surveyed around the world see the private sector as corrupt, watchdog Transparency International said yesterday.A survey by the Berlin-based group showed that 53...

Developing Asia trade outlook hopeful

2009-06-04 SMALLER exporters in developing Asia, including China and India, expect trade to be stable to slightly higher in the next three months, thanks to fiscal stimulus and improving intra-regional trade, but they worry about exchange rates, a survey...

Stocks under pressure; US$ rebounds

2009-06-04 EUROPEAN stocks fell and Wall Street was set for a weaker start yesterday as investors turned cautious after economic optimism pushed world stocks to fresh 7-1/2 month highs and sterling to 2009 peaks earlier.The US dollar rose against European...

China launches steel probe

2009-06-04 CHINA is investigating imports of US and Russian steel under anti-dumping rules amid a rise in Chinese imports of the metal.China is looking into a special type of steel used in power transformers to determine whether US and Russian mills sold below...

Wednesday, 3 June 2009

BRIC to discuss currency

2009-06-03 THE leaders of the world's biggest emerging markets may discuss the idea of a supranational currency this month when they meet for a summit in Russia, President Dmitry Medvedev's spokeswoman said yesterday. "I do not exclude that the Russian...

Abu Dhabi makes US$2.5b from sale of stake in Barclays

2009-06-03 ABU DHABI sold an 11-per cent stake in Barclays yesterday, making US$2.5 billion from an investment that helped the British bank through the financial crisis and raising fears that the rally in bank shares may be over.Traders said the Abu Dhabi...

Temasek may cut big exposure to banks

2009-06-03 SINGAPORE state investor Temasek's new CEO Charles Goodyear may cut the fund's large holdings in banks and trim stakes in other firms such as SingTel as he reallocates money to energy and consumer sectors, Nomura said in a report.Chip Goodyear, the...

Geithner: China backs US policy steps

2009-06-03 TREASURY Secretary Timothy Geithner yesterday that he had found strong support among Chinese officials for the strategy the United States is employing to combat the worst global downturn in decades.Geithner said that in his talks, Chinese officials...

Branson: One US carrier could fail

2009-06-03 BRITISH entrepreneur Richard Branson, founder and president of Virgin Atlantic Airways, said at least one major US airline could fail by the end of next year."I just happen to believe it is unlikely that all the big American carriers will...

Crisis making world more violent

2009-06-03 THE economic downturn has made the world more violent and unstable in the last year, according to a study yesterday that ranked New Zealand as the most peaceful country and Iraq the least.The impact of high food and fuel prices in early 2008 and the...

ADB, IDB to set up syariah fund

2009-06-03 ASIAN DEVELOPMENT BANK and the Islamic Development Bank will set up a US$500-million syariah fund to help plug a gap in infrastructure needs in Asian economies, ADB said yesterday.The fund, which would be Asia's first major multi-country syariah...

BUSINESS BRIEFS

2009-06-03 br />BofA, JPMorgan, others raise US$19bNEW YORK: Bank of America Corp, JPMorgan Chase & Co and several other banks said they have raised more than US$19 billion as lenders scramble to extricate themselves from Washington's grip. Banks are...

Asia shares hit 2009 high on rebound hopes

2009-06-03 IMPROVING global manufacturing data lifted Asian shares yesterday near levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors pondered how much longer a heady three-month rally will last.Reports on...

Bankrupt GM bullish on Asian markets

2009-06-03 BANKRUPT General Motors Corp said Chinese sales jumped 75 per cent in May, but it warned further expansion in Asia-Pacific depended on the region's success in raising money in a difficult credit environment.With its regional sales surging 44 per...

Tuesday, 2 June 2009

China on Rio iron ore rates: Unrealistic

2009-06-02 CHINA'S steel industry group has rejected iron ore prices negotiated by Australian mining giant Rio Tinto with Japanese and South Korean mills, setting up a possible clash with suppliers.The weekend announcement by the China Iron and Steel...

Price increases in Asia ease, but fewer rate cuts seen

2009-06-02 INFLATION in Indonesia and South Korea cooled further in May and prices plunged in Thailand but only Indonesia looks set to cut interest rates again as prices are expected to start creeping up later this year.Indonesian annual inflation hit 6.04 per...

China's US$ assets 'are safe'

2009-06-02 US TREASURY Secretary Timothy Geithner yesterday reassured the Chinese government that its huge holdings of dollar assets are safe and reaffirmed his faith in a strong US currency.A major goal of Geithner's maiden visit to China as Treasury chief is...

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