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Southeast Asia bangs the drum for single market

Southeast Asia bangs the drum for single market

KUALA LUMPUR: Southeast Asian leaders on Sunday symbolically declared the establishment by year-end of an EU-style regional economic bloc, but diplomats admitted it will be years before the vision of a single market can be realised. At the group’s annual summit, held this year in Kuala Lumpur, the heads of the Association of Southeast Asian […]

November 22, 2015 | By | Reply More
S. Korea wants to develop 'creative economy agenda' with Msia

S. Korea wants to develop 'creative economy agenda' with Msia

SEOUL: Malaysia can become a future partner for South Korea in developing its creative economy agenda. South Korean Ministry of Science, ICT and Future Planning’s Creative Economy Policy Bureau’s director-general Koh Kyeongmo told the New Straits Times that the Asean market is a very major one and of great interest to Korea. “I would like […]

November 22, 2015 | By | Reply More
1MDB nearing sale of power assets to China/Qatar consort

1MDB nearing sale of power assets to China/Qatar consort

The people, who declined to be identified as they were not authorised to speak to the media, said a deal could be announced as early as Monday. KUALA LUMPUR: 1MDB is nearing the sale of its power assets to a consortium including Qatar’s Nebras Power and China General Nuclear Power Holding Corp, people familiar with […]

November 21, 2015 | By | Reply More
M’sia, Indonesia to spend US$5m each on joint palm council’s initial ops

M’sia, Indonesia to spend US$5m each on joint palm council’s initial ops

KUALA LUMPUR: Malaysia and Indonesia will invest $5 million each in the initial operations of a new joint palm oil body, whose tasks will include stabilising prices and managing stock levels, the countries announced on Saturday. The council secretariat will be located in Jakarta and its membership will be extended to all oil palm cultivating […]

November 21, 2015 | By | Reply More
Some Chipotle customers say undeterred by E. coli outbreak

Some Chipotle customers say undeterred by E. coli outbreak

NEW YORK: Diners at Chipotle Mexican Grill locations on Saturday said freshness and convenience outweighed concerns about contamination following the news that food poisoning cases had erupted at the chain’s locations in six U.S. states. Shares of the fast-casual chain tumbled 12.3 percent to an 18-month low on Friday on word that the E. coli […]

November 21, 2015 | By | Reply More
Fed's Williams sees strong case for December interest-rate hike

Fed's Williams sees strong case for December interest-rate hike

BERKELEY, Calif.: There is a “strong case” for raising interest rates when Federal Reserve policymakers meet in mid-December, as long as the economic data does not disappoint, a top Fed official said on Saturday. “The data I think have been overall encouraging, especially on the labor market,” San Francisco Fed President John Williams told reporters […]

November 21, 2015 | By | Reply More
Monetary policy risks becoming ineffective in low growth world: ECB Coeure

Monetary policy risks becoming ineffective in low growth world: ECB Coeure

BERKELEY, Calif: Monetary policy risks becoming ineffective in a world where growth is sluggish, economies are deeply interconnected and interest rates are already near zero, a top European Central Bank policy maker said on Saturday. Speaking at the University of California Berkeley, ECB executive board member Benoit Coeure called for academics and policy makers to […]

November 21, 2015 | By | Reply More
Fed may need permanently big balance sheet, Williams says

Fed may need permanently big balance sheet, Williams says

BERKELEY, Calif.: The U.S. Federal Reserve and other global central banks may need to consider new tools in a world of permanently lower interest rates, including keeping big balance sheets or using negative interest rates to combat shocks, a top Fed official said on Saturday. With the so-called natural interest rate in the United States […]

November 21, 2015 | By | Reply More
Ford union workers ratify new four-year US labor pact: UAW

Ford union workers ratify new four-year US labor pact: UAW

DETROIT: Ford Motor Co’s U.S. union workers narrowly approved a four-year labor contract after a late push for support by United Auto Workers leaders, the UAW said late Friday night. The UAW said 51.3 percent of production workers and 52.4 percent of skilled trades workers voted in favor of the new contract, after more than […]

November 21, 2015 | By | Reply More
Fed's Williams says central banks need to consider new tools

Fed's Williams says central banks need to consider new tools

BERKELEY, Calif.: The Federal Reserve and other global central banks need to consider new stimulus tools to deal with what may be permanently lower interest rates worldwide, a top Fed official said on Saturday. With the so-called natural interest rate in the United States now near zero, and equilibrium rates in other countries around the […]

November 21, 2015 | By | Reply More