Archive | March 6, 2008

SWF CONCERNS: Americans fear impact of foreign funds on economy

Voters do not want them to buy stakes in high-tech firms, key sectors: poll (BOSTON) The majority of Americans fear that the US economy and national security could be hurt if sovereign wealth funds, the investment arms of foreign governments, put more money into US companies, new data show. US voters do not want these […]

Leave a Comment Continue Reading →

Banking regulator sees more US mortgage defaults

WASHINGTON – Defaults are increasing among US homeowners with good, but not perfect, credit histories who obtained a non-traditional mortgage, a top US banking regulator said on Friday. More pain can be expected as both borrowers with poor credit, who hold sub-prime mortgages, and borrowers with good credit, who hold Alt-A mortgages, see their interest […]

Leave a Comment Continue Reading →

Banks caught in sub-prime limbo

AFTER the excitement of the previous week during which the Straits Times Index (STI) enjoyed a 156-point bounce, this week was much more sombre as US recession fears reared its head while oil crossed US$100 per barrel. For the most part, trading exhibited the same two-tier pattern evident in previous weeks with large-cap blue chips […]

Leave a Comment Continue Reading →

CapitaLand full-year profit soars 172.5%

CAPITALAND achieved a record performance in 2007, with full-year net profit soaring 172.5 per cent to $2.76 billion, from $1.01 billion the year before. Revenue increased 20.5 per cent to $3.79 billion, from $3.15 billion in 2006. The stellar performance was attributed to strong sales of development projects in China and Australia, and the consolidation […]

Leave a Comment Continue Reading →

China’s economy leads world: poll

(WASHINGTON) More Americans believe China, not the United States, is the world’s top economic power, according to an opinion poll.The Gallup World Affairs survey found that four in ten Americans say China’s economy leads the world; only 33 per cent picked the United States.In 2000, the United States was top in the poll, with the […]

Leave a Comment Continue Reading →

China no more the source of cheapest goods

Rising costs hit its competitive edge, forcing some firms to relocate overseas (SHANGHAI) The teddy bears selling for US$1.40 each in Shanghai’s Ikea store may be just about the cheapest in town, but they’re not made in China – they’re stitched and stuffed in Indonesia. The fluffy brown toys reflect a new challenge for China: […]

Leave a Comment Continue Reading →

GuocoLand to re-look Oval’s prices by June

Average RM1,500 psf price lower than some nearby properties, says CEO IN KUALA LUMPUR MOST new developments in the Kuala Lumpur city centre area trumpet their proximity to the prestigious Petronas Twin Towers as a selling point. The Oval – GuocoLand Malaysia’s ‘twin-elliptical residential towers’ – claim to be that, and more. The developer says […]

Leave a Comment Continue Reading →

Wheelock may not launch Orchard View this year

WHEELOCK Properties (Singapore) is likely to hold off launching Orchard View at Angullia Park for sale until next year, when the project is slated for completion. The company had earlier indicated that the development would be launched some time this year. The group, which yesterday posted a six-fold jump in group net profit for the […]

Leave a Comment Continue Reading →

When that ‘bargain’ may be an illusion

IN THE thick of the Asian financial crisis, some listed companies were actually trading below their net cash value; in other words, the leftover cash in their bank accounts after paying off all their liabilities was higher than market capitalisation. So theoretically, someone who had the money could have gone into the market and bought […]

Leave a Comment Continue Reading →

CapitaLand profit leaps to $2.76b on gains in key markets

Firm says volume for home sales could ease in the short term, but should pick up again by year-end PROPERTY giant CapitaLand tips that home prices will increase by 5 per cent to 10 per cent this year, despite the cautious mood that has taken hold in recent months as many buyers stick to the […]

Leave a Comment Continue Reading →

COST SPIRAL: Rising prices, bigger handouts

Rising costs for individuals and businesses, a growing ‘gimme’ mentality and the dangers of the ‘green-eyed’ syndrome in society were among the concerns raised at a Straits Times roundtable, chaired by deputy editor Warren Fernandez, ahead of next week’s debate on this year’s Budget THEIR big looming worry is how fast costs for both individuals […]

Leave a Comment Continue Reading →

GST hike, Budget surplus and rising costs

LAST year’s huge Budget surplus of $6.45 billion is causing some economists and MPs to question the timing of last July’s hike in the goods and services tax (GST). The issue came up for debate when a taxi driver, two MPs, two economists and a businessman met at The Straits Times on Thursday for a […]

Leave a Comment Continue Reading →

ECONOMIC REVIEW: Japan downgrades growth assessment

ECONOMIC REVIEW Japan downgrades growth assessment TOKYO – JAPAN’S government yesterday downgraded its assessment of Asia’s largest economy for the first time in 15 months, saying the recovery was losing steam due to slowing United States growth. A monthly report from the Cabinet Office acknowledged that exports and industrial output are cooling, while consumer spending […]

Leave a Comment Continue Reading →

Lack of green perks disappoints industry players

Lack of green perks disappoints industry players Budget surplus gives scope for perks such as tax credits, say industry players IT HAD been widely anticipated, but in the end, the ‘green Budget’ that many people had been waiting for did not materialise. The lack of incentives such as tax credits to encourage environmentally sustainable business […]

Leave a Comment Continue Reading →

Rising costs squeeze Chinese factories

SHANGHAI – THE teddy bears selling for US$1.40 (S$1.97) in Shanghai’s Ikea store may be just about the cheapest in town, but they are not made in China: They are stitched and stuffed in Indonesia.The fluffy brown toys reflect a new challenge for China. Its huge economy, which has long offered some of the world’s […]

Leave a Comment Continue Reading →

Rising inflation across Asia mauls S’pore Reits

Trusts may still get big lift from higher rents, higher hotel rates, say analysts SOARING inflation across Asia has sucked the life out of real estate investment trusts (Reits), whose high-yielding dividends have made them wildly popular among investors in recent years. Reits, in general, have fallen about 32.5 per cent in value from their […]

Leave a Comment Continue Reading →

US recession may be as deep as in the 1990s

Fed likely to remain aggressive about cutting rates as a result, says Merrill NEW YORK – THE United States is in a recession that could be much worse than what it faced in 2001, and closer to the sharper economic slump of the 1990s, investment bank Merrill Lynch has said. The bank also said the […]

Leave a Comment Continue Reading →