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Thursday, 14 May 2009
WORLD oil demand is still shrinking as the global economy contracts, Opec said yesterday, adding a recent rise in oil prices reflects sentiment rather than fundamentals, which are far from balanced.The Organisation of the Petroleum Exporting...
EUROPEAN stocks fell and Wall Street looked set for some losses yesterday with investors fretting about banks and the global economy.The US dollar rebounded from an earlier four-month low. Sterling fell after the Bank of England said the UK economy...
THE German government agreed a "bad bank" scheme yesterday to clean up toxic assets from bank balance sheets, a key plank of Berlin's bid to turn around the economy, a spokesman said.The plan, which has become somewhat of a political hot...
THE European Commission fined Intel Corp a record €1.06 billion (US$1.45 billion) yesterday and ordered it to halt illegal rebates and other practices it used to squeeze out its rival, AMD.The world's biggest chipmaker paid computer makers to...
THE global financial crisis is taking an increasing toll on Asia's corporate sector with the region's economies now among the world's hardest hit, a senior IMF official warned on Tuesday. "Corporate risks are rising and market indicators are...
CHINA may not be able to sustain its economic expansion in 2010 if there is no recovery particularly in the United States and Europe, a senior World Bank official said on Tuesday.China posted growth of 6.1 per cent in the first quarter of 2009, down...
CHINA EASTERN AIRLINES said yesterday it had received a government injection of two billion yuan (US$290 million) to overcome difficulties amid the financial crisis.The money will reduce the financial strain faced by China's third-largest carrier,...
br />SingTel Asia subscribers top 249mSINGAPORE: Singapore Telecommunications (SingTel) reported a 35-per cent annual increase in regional mobile phone subscribers despite the global economic downturn. Southeast Asia's biggest telecom firm said...
US RETAIL sales slipped, European industrial output dived and the Bank of England said Britain needed a long period of healing, denting hopes yesterday of any global economic recovery.Industrial production figures from China, supposedly a beacon of...
Wednesday, 13 May 2009
SINGAPORE state investment group Temasek Holdings was among a group of buyers that purchased Bank of America's (BofA) US$7.3 billion worth of shares in China Construction Bank yesterday, according to a source.BofA sold the shares, just days after a...
GULF Arab states could face economic turbulence or prosperity depending on where oil prices go in this year's global recession with prices of around US$60 a barrel offering some room for optimism.Saudi Arabia, the world's biggest oil exporter, and...
EUROPEAN stocks edged higher and oil prices hit a 2009 high yesterday as investors chased risky assets further on hopes for improvement in the global economy, pushing the low-yielding US dollar to a four-month low.Oil prices rose as high as US$59.68...
OIL prices rose sharply yesterday, with the New York contract hitting a six-month high above US$60 ($87.419) as the US currency tumbled against other leading units, traders said.New York's main futures contract, light sweet crude for delivery in...
OIL prices hit US$60 ($87.419) a barrel yesterday for the first time in six months, boosted partly by a weak US dollar and gains on equity markets.US crude was up US$1.32 a barrel at $59.82 a barrel. It earlier touched US$60.08 a barrel, its highest...
MICROSOFT has launched its first bond issue in hopes of raising US$3.75 billion, sparking rumours the US software giant was contemplating a takeover bid.Microsoft, in a filing with the US Securities and Exchange Commission (SEC), said that it would...
HITACHI, Japan's biggest electronics maker, projected a far deeper loss than expected in its fourth straight year in the red as it struggles with a slump in the chip, automotive and electronics sectors.Smaller rival NEC, in contrast, forecast a...
br />IMF sees Europe recovery in 2010PARIS: The IMF forecast an economic recovery in Europe next year provided governments enact firm financial measures as the EU said some of its banks will undergo "stress tests" like their US...
AUSTRALIA'S government unveiled its largest deficit on record yesterday and forecast a decade of debt in a budget designed to nurse the economy through recession and keep open the option of an early election.Treasurer Wayne Swan said the global...
Tuesday, 12 May 2009
MANY stock markets in emerging economies are showing spectacular recoveries so far this year and investors are returning but on a highly selective judgement of risk.In Brazil, the markets are up 53 per cent since Jan 1, while in Russia they have...
ISLAMIC finance is a viable alternative to the current economic system but its global potential has yet to be fully optimised.HSBC Bank Malaysia Bhd deputy chairman and chief executive officer Irene M Dorner said there is also still a lack of...
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