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SYDNEY (AP) - Australia's largest bank by market value, Commonwealth Bank of Australia Ltd., posted on Wednesday a 7 percent rise in annual profit and forecast the local economy to grow modestly amid continued headwinds from the global credit crunch.
LONDON (AP) - The United States must build a tougher regulatory system that can allow financial institutions to fail without causing wider economic turbulence, U.S. Treasury Secretary Henry Paulson said Wednesday in London.
Five fund managers and heads of research shared their views on the stock market and favourite stocks at aroundtable discussion at Menara Star. The participants were Aseambankers Equity Research head VincentKhoo, icapital.biz Bhd head Tan Teng Boo, Meridian Asset Management chief investment officer Tan BengLing, CIMB-Principal Asset Management chief investment officer Raymond Tang and TA Securities HoldingsBhd head of research Kaladher Govindan.