http://www.channelnewsasia.com Latest Channel NewsAsia Business News http://www.channelnewsasia.com/images_v1/top_mcnilogo.gif http://www.channelnewsasia.com 129 137 2008 MediaCorp Pte Ltd. All rights reserved. en-us Thu, 08 May 2008 16:00:00 GMT www.channelnewsasia.com http://www.channelnewsasia.com/stories/afp_world_business/view/346712/1/.html NEW YORK : US banking giant Citigroup said Friday it plans to shed about 400 billion dollars in assets over the next two to three years as it tries to recover from the sub-prime mortgage crisis. AFP World Business Fri, 09 May 2008 15:10:17 GMT http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/346698/1/.html SEOUL: Thousands of protesters rallied in the South Korean capital on Friday to denounce the decision to resume US beef imports as the government struggled to dispel a growing scare over mad cow disease. AFP Asia Pacific Business Fri, 09 May 2008 15:01:18 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346700/1/.html LONDON : Oil prices hit a record high above 126 dollars on Friday, driven into uncharted territory by speculative interest amid concerns about tight global energy supplies, analysts said. AFP World Business Fri, 09 May 2008 14:51:38 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346690/1/.html LONDON - Oil prices hit a record high of above US$126 on Friday, driven by speculative interest amid concerns about tight global energy supplies, analysts said. AFP World Business Fri, 09 May 2008 13:40:43 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346684/1/.html WASHINGTON - The US trade deficit shrank to 58.2 billion dollars in March from a revised 61.7 billion a month earlier, as the weak dollar fuelled a surge in exports, the Commerce Department said Friday. AFP World Business Fri, 09 May 2008 13:19:25 GMT http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/346629/1/.html MANILA : Birth control at home and friendly ties with the world's top rice exporters will help the Philippines survive soaring food prices, President Gloria Arroyo said Friday. AFP Asia Pacific Business Fri, 09 May 2008 09:39:12 GMT http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/346598/1/.html BEIJING: China's Xiamen International Airport Group Co. Ltd. said Friday it was eyeing partnerships with Taiwan carriers amid hopes the two sides would soon establish regular weekly flights. AFP Asia Pacific Business Fri, 09 May 2008 06:26:13 GMT http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/346586/1/.html TOKYO: Japan Airlines Corp. said Friday that it had returned to profit in the year to March after two straight annual losses, but forecast a 23 percent drop in earnings this year amid high fuel costs. AFP Asia Pacific Business Fri, 09 May 2008 04:23:30 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346548/1/.html NAIROBI: Soft drinks giant Coca-Cola on Thursday announced it would invest 50 million US dollars in its five franchises in Kenya, where post-election violence adversely affected the firm. AFP World Business Fri, 09 May 2008 00:20:18 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346543/1/.html NEW YORK: The US dollar showed scant movement against the euro on Thursday after the head of the European Central Bank warned again of potential inflation risks, diminishing hopes of eurozone interest rate cuts. AFP World Business Thu, 08 May 2008 22:04:52 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346539/1/.html NEW YORK: US stocks rose modestly on Thursday as upbeat news from retailers helped ease concerns about an economic downturn, taking the sting out of fresh record highs for crude oil prices. AFP World Business Thu, 08 May 2008 21:42:42 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346530/1/.html NEW YORK: Crude oil prices surged to new highs above 123 dollars on Thursday in volatile trade after the OPEC cartel insisted the market was well-supplied and being driven by speculators. AFP World Business Thu, 08 May 2008 20:49:45 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346519/1/.html DUBAI : Qatar Airways will seek cash compensation from Boeing Co over a delay in the delivery of its 787 Dreamliner, the press quoted its chief executive as saying on Thursday. AFP World Business Thu, 08 May 2008 19:38:40 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346512/1/.html BERLIN : German industrial output and exports fell in March, data showed on Thursday, as a stronger euro, weaker global demand and high raw material prices left their mark on Europe's largest economy. AFP World Business Thu, 08 May 2008 19:06:56 GMT http://www.channelnewsasia.com/stories/afp_world_business/view/346508/1/.html BRUSSELS : Consumers are getting ripped off by misleading information for airline tickets sold online, the EU's top consumer protection official said Thursday, promising a crackdown if the industry fails to clean up its act. AFP World Business Thu, 08 May 2008 18:57:04 GMT http://www.channelnewsasia.com/stories/afp_asiapacific_business/view/346514/1/.html WASHINGTON: A former senior Qantas Airways executive has agreed to plead guilty for participating in a price-fixing conspiracy in international air cargo shipments, the US Justice Department said on Thursday. AFP Asia Pacific Business Thu, 08 May 2008 18:41:24 GMT