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Optimistic mood in IT industry

OUR CEO OUTLOOK 2003 today features the Malaysia-based CEOs of three of the largest IT corporations #8211; Datuk Wong Siew Hai of Intel Corp, Khatijah Shah of SAP, and T.F. CHONG of Hewlett-Packard (HP). The three CEOs are looking forward to 2003 as they expect a pickup in the world economy will boost spending on IT.

Unit trust sector positive on growth

EVEN though 2003 will be a challenging year for the unit trust industry in view of the global economic slowdown and depressed investment environment, many unit trust management companies are still optimistic that the industry will continue to grow this year.

Danaharta affected by delisting of PN4 firms

THE delisting of financially stressed companies under the PN4 sector will affect Pengurusan Danaharta Nasional Bhd#039;s assets in eight of these companies, said chairman Datuk Azman Yahya.

Pump priming may not be a cure all

MALAYSIA is taking a well-trodden path by banking on pump priming measures to boost its economy. In fact, the conventional wisdom is that the quickest way to counter economic slumps is for governments to spend in a big way.

IMF sees long Iraq war slashing world growth

The International Monetary Fund (IMF) sees a long war in Iraq cutting global economic growth by as much as two percentage points from a revised 2003 forecast of 3.3%, German business daily I>Handelsblatt /I>reported yesterday.

IMF warns of recession

New data this week highlighted a mood of caution at corporations in major economies as the International Monetary Fund (IMF) warned that the world could sink into recession if the war in Iraq drags on.

Banking group urges G7 action

Even if the war in Iraq ends quickly, the global economy faces serious problems that will require a co-ordinated effort from rich nations to bolster prospects, a leading financial lobbying group said.

Economic growth may be reviewed

Malaysia#8217;s economic growth may be reviewed as the World Bank has recently cut down its regional forecast on East Asian economies following the Severe Acute Respiratory Syndrome (SARS) outbreak, Second Finance Minister Datuk Dr Jamaludin Mohd Jarjis said in Kuala Lumpur Saturday.

Aussie dollar soars to 40-month high against US dollar

THE Aussie dollar leapt to a 40-month high of 65.69 US cents against the US dollar, thanks to rising pressure on the greenback following US Treasury Secretary John Snow's comment that the long-standing strong dollar policy did not imply any view about the exchange rate.

IMF: US recovery picking up pace

The US economy is recovering unevenly but growth should accelerate in the second half with the Iraqi war over and oil prices still low, according to the International Monetary Fund (IMF).