Straits Times Interactive - MONEY

Malaysia posts record trade activity in 2011

Thu, 09 Feb 2012 09:34:00 GMT

KUALA LUMPUR (AFP) - Malaysia said on Thursday that it posted record trade activity in 2011 as China became the country's largest export market, helping blunt the impact of global economic weakness.

Singapore shares close lower on Thursday, down 0.03%

Thu, 09 Feb 2012 09:30:00 GMT

Singapore shares closed lower on Thursday, with the benchmark Straits Times Index at 2,981.17, down 0.03 per cent, or 1.03 points.

Credit Suisse posts 62% drop in net profits for 2011 to $2.7 billion

Thu, 09 Feb 2012 09:16:00 GMT

GENEVA (AFP) - Credit Suisse on Thursday posted a 62-per cent drop in net profits for 2011 to 1.95 billion Swiss francs (S$2.7 billion) but said business had got off to a 'good start' this year.

French luxury group Hermes posts record 2011 sales

Thu, 09 Feb 2012 08:57:00 GMT

PARIS (AFP) - French luxury group Hermes said on Thursday it posted record sales of 2.8 billion euros (S$4.7 billion) in 2011, highlighting the resilience of luxury brands in the face of the weakening global economy.

China's Alibaba raising $3.7b for Yahoo! stake

Thu, 09 Feb 2012 08:47:00 GMT

BEIJING (AFP) - Chinese online commerce giant Alibaba plans to borrow US$3 billion (S$3.73 billion) to buy back the stake Yahoo! owns in the company, a report said on Thursday, as the struggling United States Internet firm overhauls its Asia holdings.

Record sales and profits for Daimler's anniversary year

Thu, 09 Feb 2012 08:11:00 GMT

FRANKFURT (AFP) - German auto and truck giant Daimler, which owns Mercedes-Benz, said on Thursday it achieved record sales and profits in 2011, its 125th anniversary year.

Groupon disclosure, growth concerns hit stock

Thu, 09 Feb 2012 07:16:00 GMT

(Reuters) - Groupon Inc shares slumped on Wednesday as the daily deal company's first quarterly results since it went public stoked concern about limited disclosure and slowing growth.

Greek coalition talks break up without full agreement

Thu, 09 Feb 2012 01:52:00 GMT

ATHENS (AFP) - Greek government coalition leaders ended lengthy talks on austerity measures on Wednesday, with one remaining point of disagreement, the prime minister's office said.

US stocks drift higher as optimism fades

Wed, 08 Feb 2012 22:31:00 GMT

NEW YORK (AFP) - US stocks drifted slightly higher on Wednesday after optimism over upbeat company earnings and an imminent rescue deal for debt-wracked Greece faded.

Nokia cuts 4,000 jobs in struggle to win smartphone market

Wed, 08 Feb 2012 22:00:00 GMT

HELSINKI (AFP) - World-leading mobile phone maker Nokia will cut 4,000 jobs at its smartphone manufacturing facilities in Finland, Hungary and Mexico by the end of 2012, it said on Wednesday.

US stocks open mixed as Greek talks drag on

Wed, 08 Feb 2012 15:01:00 GMT

NEW YORK (AP) - United States (US) stocks are opening mixed as traders wait for European leaders to hammer out a bailout deal for Greece.

India outsourcers forecast decline in export growth

Wed, 08 Feb 2012 14:05:00 GMT

NEW DELHI (AFP) - India's flagship information technology and business services sector forecast on Wednesday that export growth would slow in the next financial year amid global 'economic uncertainties.'

Led by China, global art market hits new record

Wed, 08 Feb 2012 14:02:00 GMT

PARIS (AFP) - Global art auction sales surged to a record US$11.5 billion (S$14.3 billion) last year despite the weak world economy, with China cementing its spot as the top market, research showed on Wednesday.

Somalia piracy cost reached $8.7 billion in 2011: Report

Wed, 08 Feb 2012 12:11:00 GMT

WASHINGTON 2012 (AFP) - Somali piracy cost the world nearly US$7 billion (S$8.7 billion) in 2011, including more than US$2 billion for military operations, armed guards and equipment to protect ships, a monitoring group said on Wednesday.

Maserati to recall 222 cars in China

Wed, 08 Feb 2012 11:18:00 GMT

BEIJING (AFP) - Italian luxury car maker Maserati will recall 222 vehicles in China due to a defective rear light, China's quality watchdog said on Wednesday.

General Motors wants deeper cuts at Opel

Wed, 08 Feb 2012 11:09:00 GMT

WASHINGTON (AFP) - General Motors (GM) wants deeper cuts at its European subsidiary Opel after what are expected to be 'horrendous' fourth quarter results, the Wall Street Journal said on Wednesday, quoting a GM official.

Credit rating agency S&P downgrades Sony

Wed, 08 Feb 2012 11:06:00 GMT

TOKYO (AFP) - Credit rating agency Standard and Poor's (S&P) on Wednesday lowered its rating of Japanese electronics and entertainment giant Sony days after the company announced woeful results.

Singapore shares close 0.83% higher on Wednesday

Wed, 08 Feb 2012 09:25:00 GMT

Singapore shares closed 0.83 per cent higher on Wednesday. The STI was up 24.42 points at 2,982.20.

Citigroup reshuffles Asia-Pacific management team

Wed, 08 Feb 2012 09:20:00 GMT

HONG KONG (REUTERS) - Citigroup reshuffled its Asia-Pacific management team on Wednesday, with the region's markets head, Mr Rodrigo Zorrilla, promoted to the newly created position of chief operating officer.

Nissan Q3 profits up 3.2% despite tough quarter

Wed, 08 Feb 2012 09:16:00 GMT

TOKYO (AFP) - Japanese car giant Nissan on Wednesday said its third quarter profits rose 3.2 per cent year-on-year as solid global sales offset the strong yen.

India car sales head for 1st annual fall in 10 years

Wed, 08 Feb 2012 08:35:00 GMT

NEW DELHI (REUTERS) - Annual car sales in India are likely to drop for the first time since 2002 in the fiscal year ending March after January sales fell short of expectations, an industry body said.

India car sales head for 1st annual fall in 10 years

Wed, 08 Feb 2012 08:35:00 GMT

NEW DELHI (REUTERS) - Annual car sales in India are likely to drop for the first time since 2002 in the fiscal year ending March after January sales fell short of expectations, an industry body said.

Myanmar 'world's worst legal system' for business

Wed, 08 Feb 2012 07:42:00 GMT

BANGKOK12 (AFP) - Myanmar has the world's worst legal system for doing business, retaining a position it has held for the last five years despite recent reforms, according to a report released on Wednesday.

Airline industry split over EU carbon charges

Tue, 07 Feb 2012 23:10:00 GMT

BRUSSELS (AFP) - A split widened within the aviation industry on Tuesday over EU charges for carbon emissions, as Europe's low-cost carriers accused Chinese and United States rivals of 'gunboat' diplomacy against the system.

France signals 9 euro zone states ready to trigger transactions tax

Tue, 07 Feb 2012 22:58:00 GMT

PARIS (AFP) - French Finance Minister Francois Baroin signalled on Tuesday that nine euro zone governments are ready to press ahead with the introduction of a Paris-inspired financial transactions tax.