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EU: recession will be deep and long-lasting

The European Union said Monday it is facing a ''deep and protracted recession'' and slashed growth forecasts, while Britain announced its second massive bank bailout in just over three months in another wave of bad economic news in Europe.


Malaysian Bond Market

THE MGS/GII market was quiet since the start of this week before picking up towards the end as market players were looking forward to the 2009 MGS Auction Calendar which was finally announced on Thursday.


Commodities slump on firm US$, demand concerns

NEW YORK (AP) - An advance in the dollar, compounded by heightened concerns about a sharp drop in demand for raw materials, sent commodities prices plunging Monday.


Wise not to pretend about pound’s uncertainty

THE time to have been seriously worried about the pound, and for foreigners to hold off from buying British assets, was a year ago - when hardly anyone was worried about it. The fact taxi drivers have started to talk obsessively about the exchange rate is the surest sign yet that the bird has flown.


The 2009 world outlook by region

Asia hopes for 2009 rebound, as boom succumbs to hard landing

Other Sport

English likely to return to India after tighter security

England's cricketers are likely to return to India for this month's Test series after being promised tighter security following the terrorist attacks on Mumbai last week.

Other Sport

Tests in India to go ahead

England's cricket squad will fly home today in the wake of the terrorist attacks in Mumbai before returning to India to play two Test matches as planned.


EU considers 200 billion euro boost and China slashes interest rates

Massive stimulus plans to drive the world out of recession took centre stage yesterday with Europe considering a more than 200 billion euro boost and China announcing its biggest interest rate cut in a decade.


Britain makes record interest rate cut

Britain slashed borrowing costs by a record 1.5 percentage points yesterday and Europe was expected to follow in cutting its rates as part of concerted efforts to revive world commerce and ward off deep recession.


Oil prices near US$60 on recession fears

Oil prices neared $60 a barrel Thursday, their lowest point in about a year and a half, as a growing number of economic reports point to a long and painful recession.