Wall Street rebound fails to curb Asian stock rout
OPTIMISTS:
Some economists in Asia attributed the latest sell-off to investors' anxiety over recent months rather than an actual downturn in economic prospects
Asia's stock markets continued to tumble yesterday on concerns that a slowing US economy could spell trouble for Asia's export-dependent economies.
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US Federal Reserve outlook unchanged
US Federal Reserve chairman Ben Bernanke told lawmakers a day after a global stock rout that his economic outlook was unchanged.
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Temasek to buy out Stats Chippac
Temasek Holdings Pte, Singapore's state-owned investment company, offered as much as S$2.4 billion (US$1.6 billion) for shares in Stats Chippac Ltd, seeking to benefit from global demand for semiconductor services.
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Japanese cars lead in latest `Consumer Reports' rankings
Consumer Reports' latest auto reliability survey and rankings have found overall domination by Japanese automakers, strides from Detroit, Michigan's Big Three and stumbles from Europe.
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Thai central bank to lift controls on foreign investment
Thailand's central bank will lift controls on foreign investments in hedged baht-denominated bonds, mutual funds and property funds from March 15, Assistant Governor Nitaya Pibulratanagit said in a media briefing.
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World Business Quick Take
■ Restaurants McDonald's explores coffee
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