31 May 2012 - 6:57pm
BRUSSELS: European leaders must act swiftly and decisively to avoid the disintegration of the eurozone, which European Central Bank chief Mario Draghi said Thursday is unsustainable in its current form.
With Spain facing imminent financial danger and Greece already tipped to possibly exit the single currency, Europe must set out a clear vision of...
31 May 2012 - 4:54pm
KUALA LUMPUR: Despite an uncertain international climate, Malaysia is set to put in another strong economic performance this year, says research consultancy Oxford Business Group (OBG).While growth is not expected to hit the heights achieved in recent years, a rate of between 4.0 and 5.0 per cent would serve to keep Malaysia on the right track, it...
30 May 2012 - 11:40pm
WASHINGTON: BlackBerry maker Research In Motion, losing ground rapidly in the smartphone wars, needs to take bold steps to revive its fortunes and compete with iPhones and Android devices overwhelming the market, analysts say.
RIM, which pioneered the smartphone, risks falling further behind the competition, and the Canadian firm may even...
29 May 2012 - 5:29pm
BEIJING: One in five European companies operating in China may invest elsewhere in the future as wages are getting too high and regulations too cumbersome, according to a poll released Tuesday.The European Chamber of Commerce said that while China was an increasingly important market for its members, many were deterred by rising prices and...
28 May 2012 - 3:46pm
MELBOURNE: Jetstar is being taken to court for allegedly allowing cabin crew recruited from Thailand to be paid about half the rate of the budget airline's Australian staff. The Fair Work Ombudsman claimed the Thai crew working on Jetstar's domestic routes were owed thousands of dollars in back-pay, the Australian Associated Press reports....
27 May 2012 - 6:26pm
PARIS: Airlines are still in for financial turbulence despite a recent fall in oil prices, with many at risk of posting major losses as the cost of their top input remains historically high.
"If fuel prices remain at a reasonably low and stable level, of course it'll be favorable to operations of the company," Wang Jian, board secretary of...
27 May 2012 - 2:29am
KUALA LUMPUR: A 2010 statement by CIMB Group Managing Director and Chief Executive Officer Datuk Seri Nazir Abdul Razak that he has “strong opinions about how the NEP has been bastardised over the years” rings hollow because he is guilty of that which he complains about, says a blogger. Blogger Jebat...
25 May 2012 - 5:50pm
SYDNEY: Australia said Friday it would vigorously defend itself against complaints about its plan for plain cigarette packaging made by Honduras and Ukraine to the World Trade Organisation.The action was launched by Ukraine at the WTO in March and Honduras joined the following month, according to the global trade arbiter....
24 May 2012 - 4:53pm
BRUSSELS: Eurozone private sector activity suffered its worst monthly slide in nearly three years in May, a survey showed Thursday, which analysts said indicates it is locked in a dismal downturn.The flash Purchasing Managers Index (PMI) compiled by the London-based research firm Markit fell to 45.9 points in May, down from 46.7 in April in what...
23 May 2012 - 5:53pm
JAKARTA: Britain's Churchill Mining said Wednesday it had filed for international arbitration after an Indonesian court rejected its claim to one of the world's biggest undeveloped coal reserves.
In a row highlighting foreign miners' concerns over investing in the country, Churchill's move comes after an administration on Indonesian Borneo...
