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Business 02 Jan 2003 | 12:00 AM

Allianz emerges as major risk insurance player after alliance

ALLIANZ General Insurance Malaysia Bhd has become one of the major industrial risk insurance players in Malaysia with a significant market share just two years into its strategic alliance with Germany#146;s Allianz AG, according to chief executive officer William Mei.

Letters 04 Jan 2003 | 12:00 AM

Airlines set to raise international fares

Major airlines, under the pressure of spiralling fuel cost and a major increase in insurance premiums in recent months, are expected to raise their international fares between 3% and 5%.

Business 04 Jan 2003 | 12:00 AM

Foreign business news briefs

Foreign business news briefs including from New York that IBM Corp has closed a deal to sell its hard-disk drive assets to Hitachi Ltd for US$2.05bil, as part of an effort to cut non-performing assets.

Lifestyle 05 Jan 2003 | 12:00 AM

Dashing time in a Bentley

While maintaining its ties with the aviation world, Breitling is coming down to earth with its venture into racing and expanding its horizons in a big way. The Swiss company's tie-up with Bentley is already starting to show results with the Breitling clock in the Continental GT and the new wrist watch to be presented at the forthcoming Geneva Motor Show.

Business 07 Jan 2003 | 12:00 AM

Swiss Re: US$40b global insurance losses last year

NATURAL and man-made catastrophes in 2002 caused economic losses estimated at US$40bil worldwide, of which the insurance industry was liable for around US$12bil, according to preliminary estimates derived from Swiss Reinsurance Company (Swiss Re) I>sigma/Ireport.

Business 08 Jan 2003 | 12:00 AM

Foreign business news in brief

Foreign business news in brief including from Jakarta that Indonesia#8217;s foreign direct investment (FDI) approvals dropped 35% to US$9.74bil in 2002 from US$15.06bil the prior year, government figures showed. State investment agency BKPM said just over 1,000 new projects were approved last year, down from 1,180 in 2001.

Nation 09 Jan 2003 | 12:00 AM

Dollah: PM’s right to reject resignation

Umno deputy president Datuk Seri Abdullah Ahmad Badawi said it is the privilege of the Prime Minister to decide whether to accept the resignation of Datuk Seri Dr Ling Liong Sik.

AseanPlus News 09 Jan 2003 | 12:00 AM

Urban utility sector to be opened

THE Chinese government will open the national urban utility market to domestic and overseas investors in 2003, divesting itself of managing the massive water, gas, heat supply and waste disposal sectors.

Business 10 Jan 2003 | 12:00 AM

Silver lining for Asian carriers

THE global airline industry looks like heading into troubled skies this year with a US-Iraq war being unavoidable at this juncture, but regional airlines should do fairly well, with intra-Asian travel picking up momentum.

Business 11 Jan 2003 | 12:00 AM

MoU to buy six A380s signed

PENERBANGAN Malaysia Bhd (PMB) signed a memorandum of understanding (MoU) yesterday with Airbus to buy six A380-800 passenger aircraft, which can cost up to US$1.5bil.