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Business

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

WASHINGTON, Feb 10 — 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 next week, senior administration officials said yesterday.

The officials, who asked not to be identified, also said Obama will lay out his ... Read More

Italian Prime Minister Mario Monti tours the floor of the New York Stock Exchange, February 10, 2012. — Reuters pic
Italian Prime Minister Mario Monti tours the floor of the New York Stock Exchange, February 10, 2012. — Reuters pic

Alibaba’s Ma faces big Yahoo test

SHANGHAI, Feb 11 — If anyone can pull off the labyrinthine deal between Alibaba Group and Yahoo Inc, it’s Jack Ma, who founded the e-commerce group and within a decade unlocked China’s huge online ... Read More

Property market growth to taper off in 2012, says expert

By Lee Wei Lian
KUALA LUMPUR, Feb 10 — The property market will still see growth this year but at a slower pace than 2011 due to dampened sentiment, said CH Williams Talhar & Wong.The property consultancy said buyers ... Read More

MMC-Gamuda to be paid 6pc of MRT target cost

By Yow Hong Chieh
PUTRAJAYA, Feb 10 - MRT Corp said today it will pay a fee worth six per cent of the Klang Valley Mass Rapid Transit (KVMRT) Sungai Buloh-Kajang (SBK) line's target cost to its project delivery partner, ... Read More

Iran sanctions already hitting oil trade flows, says IEA

LONDON, Feb 10 — Sanctions on Iran are already hitting global oil flows even though a European ban on imports from the Islamic Republic does not come into effect until July, the International Energy ... Read More

Climax nears in Greek drama

LONDON, Feb 10 — 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

Singapore’s First Ship demands Berlian Laju return ships

SINGAPORE, Feb 10 — Singapore-listed business trust First Ship Lease Trust said it demanded for redelivery of its three chemical tankers from the subsidiaries of troubled Indonesian shipping firm PT ... Read More

European shares fall early, euro zone banks slide

LONDON, Feb 10 — European shares fell in early trade on Friday, after euro zone finance ministers imposed further conditions before approving a rescue package for Greece, causing investors further anxiety ... Read More

Investors cautious despite Greece deal

TOKYO, Feb 10 — The euro and shares eased today as investors kept a cautious view over Greece’s debt restructuring prospect, after Athens struck a deal on fiscal reforms, paving the way for securing a ... Read More

Alibaba plans to take Hong Kong unit private

HONG KONG, Feb 10 — Chinese e-commerce company Alibaba Group plans to take its Hong Kong-listed unit private, two sources familiar with the matter said, and is working with Yahoo on an asset-swap deal ... Read More

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