Business

French banks plan for Greek euro zone exit, say sources

PARIS, May 25 — French banks, which are among the lenders most exposed to Greece, have stepped up their efforts on contingency plans for the debt-laden country leaving the euro zone, sources familiar with the situation said.The heightened preparations by banks, including Credit Agricole (CAGR.PA), BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA), come after euro zone sources told Reuters earlier this week that each member of the common currency would have to ... Read More
A man uses his mobile phone as he stands in front of a poster advertising residential properties for sale near the National Stadium, also known as the ‘Bird’s Nest’, in Beijing May 25, 2012. – Reute
A man uses his mobile phone as he stands in front of a poster advertising residential properties for sale near the National Stadium, also known as the ‘Bird’s Nest’, in Beijing May 25, 2012. – Reute

Rubber prices close lower due to mild buying interest

KUALA LUMPUR, May 25 — Rubber prices in the local rubber market continued to trade lower today due to mild buying support, dealers said. They said the demand for commodities globally were hampered by continued wariness about the eurozone debt saga."Despite the current tight rubber supply, local traders were still hesitant to take any major move although the ... Read More

China counter-challenges US over subsidies at WTO

GENEVA, May 25 — China filed a complaint at the World Trade Organization (WTO) on Friday to challenge US tariffs charged on Chinese goods that the United States considers to be unfairly subsidised.The dispute, revolving around so-called countervailing duties, relates to 22 products with an annual export value to the United States of US$7.3 billion (RM23 ... Read More

Ringgit closes with little change against US dollar

KUALA LUMPUR, May 25 — The ringgit was little changed against the greenback at the close today on short covering activities amid bearish sentiment, dealers said.At 5pm, the ringgit was quoted at 3.1510/1550 to a US dollar compared with 3.1531/1561 at yesterday's closing.Dealers said the ringgit inched up on demand after recent losses although investors were ... Read More

Japan eyes smaller nuclear role but no exit strategy

TOKYO, May 25 — Japan is leaning toward a policy of halving nuclear power's share of electricity supply from pre-Fukushima levels to about 15 per cent by 2030, but will likely stop short of pledging the long-term exit strategy that many voters favour, experts said.That would be a victory of sorts for a nuclear industry that has been under fire since a huge ... Read More

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