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Business

Treasurer: Latest Australia floods have minimal economic impact

SYDNEY, Feb 12 — Australia’s latest floods disaster will have a minimal economic impact nationally despite some damage to rail lines, mines and crops in certain areas, Treasurer Wayne Swan said today.

In recent weeks record floods have swamped large areas of New South Wales and Queensland states, prompting fears of a repeat of last year’s ... Read More
A banner caricaturing Portugal’s Prime Minister Passos Coelho and his German counterpart Angela Merkel during a protest against austerity measures in Lisbon, February 11, 2012. – Reuters pic
A banner caricaturing Portugal’s Prime Minister Passos Coelho and his German counterpart Angela Merkel during a protest against austerity measures in Lisbon, February 11, 2012. – Reuters pic Read More

Prasarana says RM6.5b in contracts issued for LRT extension

By Melissa Chi
PETALING JAYA, Feb 12 — A total of RM6.5 billion worth of contracts have been awarded for LRT Line Extension Project (LEP) in the Klang Valley and only 10 per cent of contracts are still in the tendering ... Read More

Greece warns bailout rebels of disaster

ATHENS, Feb 12 — Greek Prime Minister Lucas Papademos yesterday told lawmakers to back a deeply unpopular EU/IMF rescue in a vote today or condemn the country to a “vortex” of recession.He spoke in a ... Read More

Climax nears in Greek drama

LONDON, Feb 12 — Tortuous negotiations over a second bailout for Greece are set to come to a head on Wednesday, putting fragile market confidence to the test on the same day data is tipped to show the ... Read More

Canada wants ‘mutual respect’ from China on trade

CHONGQING, Feb 11 — Some Canadian resource firms are being treated unfairly in China and Beijing must deal with the problem if it wants a proper trading relationship with energy-rich Canada, a top ... Read More

Malaysia and Singapore back Japan’s TPP bid

By Melissa Chi
KUALA LUMPUR, Feb 11 — Malaysia and Singapore want Japan in on a controversial free trade agreement that aims to open up the emerging economies across Asia and the Pacific regions.The Japan Times reported ... Read More

Anger in Greece as parliament to vote on bailout

ATHENS,Feb 11 — Greek lawmakers will vote this weekend on a controversial austerity bill that Athens needs to avoid a messy default but which is fuelling a domestic political and social crisis that has ... Read More

Obama budget to forecast US deficit at 2.8pc GDP in 2018

WASHINGTON, Feb 11 — US budget deficits will drop to 2.8 per cent of the economy by 2018, down from the 8.5 per cent projected for this year, under a budget plan being unveiled by President Barack Obama ... Read More

EU seen approving Google’s Motorola deal, say sources

BRUSSELS, Feb 11 — Google Inc is expected to win approval next week from European regulators, as well as from US antitrust authorities, for its planned US$12.5 billion (RM37.9 billion) purchase of ... Read More

US stocks: S&P suffers year’s biggest loss as Greek deal falters

NEW YORK, Feb 11 — The S&P 500 posted its biggest daily percentage decline thus far in 2012 yesterday after an about-face on Greece’s long-awaited debt deal ended a five-week streak of gains for ... Read More

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