The Asian Development Bank (ADB) raised its forecast for the region’s economic growth this year, crediting a rapid recovery in exports even as it warned the risk of another recession in advanced countries has not completely receded.
The Manila-based development bank said yesterday it now expectsFULL STORY
The IMF said on Monday it would require 25 major economies to undergo financial stability exams every five years in a bid to avert global financial crises.
The IMF’s executive board approved the move to switch from voluntary assessments to mandatory in-depth reviews for the world’sFULL STORY
Research In Motion (RIM) unveiled a tablet computer aimed at its core business customers, as it tries to gain a foothold in a fast-growing market dominated by Apple’s iPad.
The BlackBerry PlayBook has a 7-inch (18cm) touchscreen, dual high-definition cameras and boasts support from corporate ITFULL STORY
Apple Inc, which sold more than 3 million iPads in the first 80 days after the tablet’s debut, may introduce a new version in the second quarter of next year, according to analysts at Goldman Sachs Group Inc.
The new iPad with a 9.7-inch (25cm) displayFULL STORY
Takefuji Corp filed for bankruptcy protection, becoming Japan’s biggest casualty of a four-year crackdown on coercive lending to consumers.
Takefuji listed ¥433.6 billion (US$5.1 billion) in liabilities in a filing to the Tokyo Stock Exchange yesterday. Director Junichi Yoshida took over as president from Akira Kiyokawa,FULL STORY
The European Central Bank (ECB) warned on Monday that increased financial regulation could lead to other kinds of risk-taking that officials will have to keep in their sights.
Responses by banks and other financial institutions to measures aimed at preventing future crises will have to beFULL STORY
BOJ to mull easing
The Bank of Japan (BOJ) will discuss taking additional monetary easing measures to shore up the nation’s fragile recovery at a meeting next week, a report on Friday said. The BOJ will consider pumping relatively longer-term funds into the moneyFULL STORY
Consumer goods giant Unilever PLC/NV yesterday said it had agreed to buy US-based hair care group Alberto Culver Co for US$3.7 billion in cash to boost its personal care business.
The Anglo Dutch group’s acquisition will add brands such as V05, TRESemme and Nexxus, and makeFULL STORY
Sony Pictures, Warner Bros and Walt Disney Co are in talks with the largest cable TV systems to offer films for as much as US$30 per showing soon after they run in theaters.
The studios are talking with In Demand, a partnership of Cox Communications Inc,FULL STORY
China and Russia signed agreements yesterday to boost energy cooperation, while Moscow said it is ready to supply its energy hungry neighbor with all its natural gas needs.
No dollar value was given to the agreements signed during a state visit by Russian President Dmitry Medvedev,FULL STORY