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Business

Mitsubishi Motors eyes ending Europe output, says media

TOKYO, Feb 6 — Automaker Mitsubishi Motors Corp is aiming to end production in Europe by 2013, Japanese media reported today, as it shifts focus to emerging economies.

The firm has been making its Colt subcompact car and Outlander sports utility vehicle at a factory in the Netherlands, but it will enter negotiations with workers and the Dutch ... Read More

A fire burns on a gas pipeline in the Massaeed area west of the town of al-Arish, North of Sinai, February 5, 2012. An explosion hit the pipeline running from Egypt to Israel today. — Reuters pic
A fire burns on a gas pipeline in the Massaeed area west of the town of al-Arish, North of Sinai, February 5, 2012. An explosion hit the pipeline running from Egypt to Israel today. — Reuters pic

Olympus ex-CEO Woodford sees more revelations, to attend EGM

TOKYO, Feb 6 — Official investigations into a massive fraud at Japan’s Olympus Corp are highly likely to lead to further revelations on the scandal soon, according to the firm’s former chief executive, ... Read More

With sparse data, focus returns to Europe

NEW YORK, Feb 6 — Europe will again be at the centre of investors’ focus this week as the US earnings season passes the halfway mark and there is little on the economic calendar to give the market ... Read More

Glencore, Xstrata hammering out final deal details

CAPE TOWN, Feb 6 — Top executives at trader Glencore and miner Xstrata are hammering out the final details of an US$80 billion (RM239.97 billion) tie-up to seal the industry’s largest ever takeover, which ... Read More

Sembcorp Marine wins US$792.5m Brazilian drillship contract

SINGAPORE, Feb 6 — Sembcorp Marine , the world's second largest rig-builder, said today it has secured a US$792.5 million (RM2.38 billion) contract to build a drillship for Sete Brasil, a unit of ... Read More

China’s Wen says country has stake in helping Europe

BEIJING, Feb 5 — China has a stake in helping euro zone countries get through their debt crisis, Chinese Premier Wen Jiabao said in comments published on Sunday, pointing to Europe's importance as a ... Read More

AirAsia-ANA win approval for budget carrier in Japan

KUALA LUMPUR, Feb 5 — Southeast Asia's largest budget carrier AirAsia Friday said its joint venture entity AirAsia Japan has won approval from Japanese authorities to begin commercial flights.Malaysia's ... Read More

Malaysia issues tax-free palm export quotas, say sources

KUALA LUMPUR, Feb 5 — Malaysia has issued this year's tax-free crude palm oil export quotas of 3 million tonnes after weeks of delay, sources said on Sunday, ending speculation it would scrap the quota to ... Read More

Clock ticks on Greece’s bailout deadline

ATHENS, Feb 5 — Greek Prime Minister Lucas Papademos faces a critical task of convincing international lenders and political party leaders today to agree to the stringent terms of a €130 billion (RM514.8 ... Read More

Hungary seeks €15-€20b IMF/EU credit line

BUDAPEST, Feb 5 — Hungary is seeking an international credit line of €15-€20 billion (RM59.4-RM79.2 billion), the secretary of state heading the prime minister’s office, Mihaly Varga, was quoted yesterday ... Read More

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