China’s PM says Japanese companies’ wages too low
BEIJING: Premier Wen Jiabao told a visiting Japanese delegation Sunday that Japanese companies operating in China should address workers’ unhappiness over low wages that he says led to labor disputes this year.
Iraq says it may abide by OPEC quotas in 2-3 years
BAGHDAD: Iraq’s oil minister said Sunday that Baghdad will consider abiding by OPEC quotas once its crude production increases to at least 4 million barrels a day in two to three years.
US wasted billions in rebuilding Iraq
KHAN BANI SAAD, Iraq: A US$40 million prison sits in the desert north of Baghdad, empty. A $165 million children’s hospital goes unused in the south. A $100 million waste water treatment system in Fallujah has cost three times more than projected, yet sewage still runs through the streets
BP’s future
London: In the first major sign that the Gulf of Mexico oil spill may have caused lasting damage to the company’s long-term strategy of embracing projects with high risks, BP was frozen out of a potentially lucrative license to drill for oil off the coast of Greenland.
Sanofi-Aventis offers US$18.5bil for Genzyme
NEW YORK: French drug giant Sanofi-Aventis SA on Sunday publicly launched its $18.5 billion cash bid for American biotech firm Genzyme Corp. – a move that follows months of rumored interest and failed attempts to bring Genzyme’s management to the table.
The Oxford English Dictionary, weighing 60kg, may cease to exist
LONDON: It weighs in at more than 60 kilograms, but the authoritative guide to the English language, the Oxford English Dictionary, may eventually slim down to nothing.
Bank of Japan to hold emergency policy meeting Mon morning
12,000 jobs available at Great Eastern
JOHOR BARU: Great Eastern Life Assurance (M) Bhd, the countrys largest and oldest insurer wants to recruit more fresh graduates and professionals to become its agents.
What does Merdeka mean?
We may groan in despair when we read in the newspapers or on the Internet that the divisive forces of racial and religious tension are getting worse by the day. But so long as there are people willing to build bridges that connect rather than walls that divide, we can still make a difference.
The week ahead: Wall Street to direct M’sian market
KUALA LUMPUR: The performance of the local equity market this week will be influenced by external factors, in particular the direction of Wall Street.
Awas; Treacherous September ahead for stocks
NEW YORK: Beaten-up investors go into September, historically a weak month for stocks, facing key reports on jobs, manufacturing and services. If those disappoint, the S&P 500 could breach technical support levels, pushing stocks yet lower.
Malaysia’s bond market picking up
PETALING JAYA: The local bond market is showing signs of improvement in the second half fuelled by increased liquidity in the market, positive economic outlook and lower-than-expected supply in the first half.
Is QL Resources in for more M&As?
QL Resources Bhd, which announced its merger and acquisition (M&A) exercise last Monday, has been in the spotlight as there is wide speculation going around that the company might be pursuing more M&As going forward.
Maxis awards contract to Huawei
KUALA LUMPUR: Maxis Bhd has appointed Huawei as the exclusive supplier for its Next Generation High-Speed Internet network. The job will also include the building and managing of a full-service Fibre To The X network using GPON technologies.
Singapore Chicken Rice to set up 15 outlets in M’sia
KUCHING: Fast-growing Singapore Chicken Rice Sdn Bhd (SCR) is mounting an aggressive network expansion, spreading its wings to Sabah and Peninsular Malaysia.
Dell to maintain performance
KUALA LUMPUR: Computing solutions provider, Dell Malaysia which has posted double-digit growth for the last few years, expects its performance to continue due to encouraging commercial customer demand for enterprise solutions.
Engagement with Apec helps M’sia improve business climate and competitiveness
CREATING the enabling environment to facilitate trade and promote investments is a top priority of countries in their quest to maintain economic growth and remain competitive.
Abac reminds members to start forming pact
KUALA LUMPUR: The APEC Business Advisory Council (Abac), at its meeting in Bangkok last week renewed the call for member economies to take action towards establishing a Free Trade Area of the Asia-Pacific (FTAAP).
More banks offer green technology financing
PETALING JAYA: More banks in Malaysia are going into green technology financing in view of the potential market for environmental business amid surging levels of greenhouse gases.
More Spore investments expected in Iskandar
JOHOR BARU: Iskandar Malaysia can expect more investments from Singapore in the economic growth corridor with the improvement in bilateral ties between Malaysia and Singapore.
MSWG AGM/EGM weekly watch Aug 30Sept 3
FOR this week, the following are the AGMs/EGMs of companies which are on the Minority Shareholder Watchdog Groups (MSWG) list.
Bernanke: Recovery softer, US Fed ready to act
WYOMING: US Federal Reserve chairman Ben Bernanke said on Friday the economic recovery has weakened more than expected and the Fed stands ready to act if needed to spur slowing growth.
EU to push for faster yuan rise
GWANGJU: The European Union (EU) thinks China has made only limited progress in allowing its yuan currency to move more rapidly, and swifter action would help safeguard a fragile economic recovery, according to a draft G20 document obtained by Reuters yesterday.
BHP plays down higher than US$39bil Potash bid
MELBOURNE: Global miner BHP Billiton yesterday played down any chance of raising its US$39bil bid for fertiliser maker Potash Corp, saying it had timed its move to catch out weakened rival bidders.
Aussie firms urged to get ready for opportunities from FTA
MELBOURNE: Australian companies and investors have been advised to get ready to grab business opportunities in Malaysia as the free trade agreement (FTA) between the two countries is expected to be signed later this year.
Brazils Vale mulls over fertiliser acquisitions
BRASILIA: Brazilian mining giant Vale, which has sought to raise its presence in the fertiliser sector in recent months, could be seeking further acquisitions, a local newspaper said on Saturday.
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