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European Union officials Monday urged the United States to curb its deficits to help bolster the sagging US dollar amid fears a strengthening euro would stifle Europe's fledgling economic recovery.
Growth in the euro-zone economy slowed sharply in the third quarter, led by weaker-than-expected results in France and Germany, and is expected to remain sluggish in the next six months.
DRB-HICOM Bhd has confirmed a recent I>StarBiz/Ireport that the company was planning to increase its shareholding in EON Capital Bhd (ECB) to about 20%.
Asian stock markets continued to be dogged by worries about an impending US interest rate rise but that did not prevent Australia's benchmark index from reaching an all-time high yesterday.
EQUINE Capital Bhd (ECB) has achieved net profit of RM9.3mil in the financial year (FY) ended March 31, 24% higher than the forecast profit of RM7.5mil.
LOCAL companies affected by the euro's two-year long appreciation and expecting a reprieve after the currency fell to a four-month low against the US dollar at US$1.1995 yesterday, could still see their hopes dashed.
Europe is concerned about 'brutal' currency movements, said European Central Bank (ECB) chief Jean-Claude Trichet, but a meeting of the world's top central bankers here did not discuss the US dollar's rapid slide as a risk to global economic recovery.
B>FRANKFURT:/BThe European Central Bank (ECB) is growing increasingly uneasy that the strength of the euro could undermine recovery and require an interest rate cut in the next few months, a senior ECB official has been quoted as saying.
European finance officials say any adjustments to China's fixed exchange rate should be handled with caution, rejecting US calls for an early free float of the yuan.
The cost of money has fallen further around the world this week with the Bank of England and a trio of Asian central banks trimming interest rates to jump start a hesitant global economic recovery.