ENERGY THREATS: The Venezuelan president said OPEC could set prices between US$40 and US$50, while the US said its oil imports from the country were replaceable
Venezuelan President Hugo Chavez said Saturday that the Organization of Petroleum Exporting Countries could fix a price for oil in a range of US$40 to US$50 per barrel, adding low petroleum prices were a thing of the past.

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China said yesterday its rapidly growing economy would rely mainly on domestic oil resources to satisfy its energy demands, refuting claims its huge appetite for oil was driving up world prices.

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HSBC Holdings PLC has given up on buying a South Korean bank because it is too expensive, and now plans to greatly expand its own branch network in the Asian nation, an HSBC executive said.

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UNHAPPY POSITION: The Omaha investment guru said his firm ended last year with US$43 billion in cash equivalents, and that he found few good deals
Billionaire investor Warren Buffett says he had hoped to make several multibillion-dollar acquisitions last year, but found few options.

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Sagawa Express Co., one of Japan's big four transport firms, will set up a new cargo airline in April in a tie-up with Japan Airlines Corp. (JAL), a newspaper said yesterday.

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HEAD-SCRATCHER: The Malaysian government has said it wants to make Kuala Lumpur a regional hub, but the budget carrier says a new plan will make that harder
Southeast Asia's biggest budget carrier AirAsia says it is "baffled" by a codesharing deal involving national carrier Malaysia Airlines, Singapore Airlines (SIA) and SIA subsidiary SilkAir.

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■ Computers
Cisco eyes 15% sales hikes
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