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Business 17 May 2011 | 12:00 AM

Eurozone endorses Draghi to become next ECB head

BRUSSELS: European finance ministers on Monday recommended Italy's Mario Draghi to be the next head of the European Central Bank, clearing the way for his appointment to a job where he will lead the fight against the debt crisis and inflation.

Business 16 May 2011 | 12:00 AM

US stock investors face depressed housing sector data this week

NEW YORK: US EQUITY markets wrapped up a tough week of commodity and currency volatility fairly intact, but investors face data on the depressed housing sector this week almost certain to be grim.

Business 16 May 2011 | 12:00 AM

Local bourse ends Monday trade lower

The benchmark FBM KLCI was lower in tandem with Asian markets' performance as investors turned cautious in the second-half of the Monday trading session over Greek debt concerns and commodity price drops.

Business 16 May 2011 | 12:00 AM

Police: IMF head picked out of lineup in sex case(update)

NEW YORK: Dominique Strauss-Kahn's reputation with women earned him the nickname the great seducer, and not even an affair with a subordinate could knock the International Monetary Fund leader off a political path pointed in the direction of the French presidency.

Business 16 May 2011 | 12:00 AM

IMF chief's arrest won't stop Greek bailout debate

BERLIN: The arrest of IMF chief Dominique Strauss-Kahn complicates a key European meeting on whether to give Greece billions more in aid - but experts insisted one man's troubles won't keep the 17 eurozone nations from trying to contain a debt crisis that threatens them all.

Business 16 May 2011 | 12:00 AM

Oil falls to below US$99 in Asia Monday

SINGAPORE: Oil prices fell below US$99 a barrel Monday in Asia as crude became more expensive for investors with other currencies amid a U.S. dollar rally.

Business 16 May 2011 | 12:00 AM

Institute expects one million total vehicle sales by 2020

CYBERJAYA: The Malaysian automotive total industry volume (TIV) is projected to hit one million units by 2020, according to the Malaysia Automotive Institute (MAI).

Business 13 May 2011 | 12:00 AM

US stocks edge higher, Europe down Asia mixed(update)

NEW YORK: A small recovery in commodities and a rally in companies that make consumer staples like toilet paper and pasta helped the financial markets reverse a decline Thursday to end the day with modest gains.

Business 13 May 2011 | 12:00 AM

Oil falls to near US$98 in Asia Friday(update)

NEW YORK: Oil rose Thursday in volatile trading to settle near US$99 per barrel, with a weaker dollar offsetting concerns about a slowdown in world demand.

Business 13 May 2011 | 12:00 AM

Airbus parent firm posts €12mill net loss in 1st quarte

PARIS: Airbus parent company EADS NV says it made a net loss of €12 million ($17 million) in the first quarter compared to a profit of €103 million a year earlier on higher financial charges. But the plane maker says it is on track to hit its annual targets.