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Print - 2010-08-30
HSBC fund arm ramps up emerging market business

HSBC fund arm ramps up emerging market business

HSBC's asset management arm is looking at smaller emerging markets like Malaysia and Indonesia as part of its strategy to ramp up its business in the sector with new funds and extensive hires planned for the coming year.
Published 30 Aug, 2010 12:00am
US bank stocks face bumpy road ahead

US bank stocks face bumpy road ahead

Investors looking for reasons to rekindle their on-again, off-again love for US bank stocks are in for a long wait.
Published 30 Aug, 2010 12:00am
France's Lagarde sees US threat to eurozone

France's Lagarde sees US threat to eurozone

French Economy Minister Christine Lagarde said on Wednesday stuttering growth in the United States posed the biggest risk to the eurozone's recovery, but she played down any return to this year's regional debt crisis.
Published 30 Aug, 2010 12:00am
Playtech eyes 2011 move to main market

Playtech eyes 2011 move to main market

Online gaming software provider Playtech expects to move up to London's main market from AIM early next year, Chief Executive Mor Weizer told Reuters in an interview on Thursday.
Published 30 Aug, 2010 12:00am
Oil spread trading thrives in rangebound market

Oil spread trading thrives in rangebound market

An oil market stuck in a range of $70 to $80 a barrel might seem to limit trading opportunities, but spread traders are as busy as ever, betting on time and quality differentials. US data show the number of outright speculative positions in excess of thos
Published 30 Aug, 2010 12:00am
Oil price forecast trimmed for fourth month

Oil price forecast trimmed for fourth month

Forecasters polled by Reuters revised down their expectations of the average oil price for this year for the fourth consecutive month. US crude oil was expected to average $78.63 a barrel in 2010, a Reuters poll of 31 analysts, banks and government agenci
Published 30 Aug, 2010 12:00am
World's workshop heads to inland China

World's workshop heads to inland China

In a vast muddy cornfield scarred with the tracks of heavy vehicles, two young engineers pore over a construction blueprint showing a grid of 100 rectangular factory blocks. Here on the outskirts of Zhengzhou, the provincial capital of Henan in China's in
Published 30 Aug, 2010 12:00am
Mexicans use more US corn syrup, displacing sugar

Mexicans use more US corn syrup, displacing sugar

Soaring consumption of high fructose corn syrup in Mexico, aided by high sugar prices and paltry local cane harvests, could accelerate next year and boost sugar exports to the United States. Mexican consumption of the corn-based sweetener, which is cheape
Published 30 Aug, 2010 12:00am
LNG, CNG ships could transport Arctic gas

LNG, CNG ships could transport Arctic gas

Creative solutions will have to be found to transport Norwegian gas to markets as new finds are located in more remote locations, the head of North Sea infrastructure operator Gassco said on Monday.
Published 30 Aug, 2010 12:00am
Analysts split over chance of Hungary IMF deal

Analysts split over chance of Hungary IMF deal

Hungary's mixed messages on relations with the International Monetary Fund have left analysts split down the middle on the chances of it returning at some stage to the Fund for aid, a Reuters poll showed on Wednesday.
Published 30 Aug, 2010 12:00am
Canadian banks confident ahead of new Basel rules

Canadian banks confident ahead of new Basel rules

Canada's banks appear set to handily absorb stiffer global capital and liquidity rules being developed by the Basel banking committee, meaning they could soon begin raising dividends and making acquisitions.
Published 30 Aug, 2010 12:00am
Economists hastily cut expectations for US third quarter growth

Economists hastily cut expectations for US third quarter growth

A host of weak economic data has led economists to hastily scale back forecasts for US growth and increase expectations the world's largest economy will fall back into recession, a Reuters poll found. Economists cite persistently high unemployment, renewe
Published 30 Aug, 2010 12:00am
Rescued Nigeria banks' value at risk: Standard Bank

Rescued Nigeria banks' value at risk: Standard Bank

The longer the process of selling Nigeria's rescued banks lasts, the less attractive they could become, said the head of South Africa's Standard Bank, which is interested in buying one.
Published 30 Aug, 2010 12:00am
Volatile crude benchmarks open way for Brent in Asia

Volatile crude benchmarks open way for Brent in Asia

Asia-Pacific is close to ditching entrenched but volatile local benchmarks in favour of European bellwether Brent to price Southeast Asian crudes, as the top oil consuming region increases imports from across the globe.
Published 30 Aug, 2010 12:00am
China's COOEC seeks Norway deepwater partners

China's COOEC seeks Norway deepwater partners

COOEC, the offshore arm of China's state-owned oil firm CNOOC, is looking for Norwegian partners to strengthen its position in deepwater drilling world-wide, a senior COOEC executive told Reuters. Jeffrey Gu, general manager at COOEC, said in an interview
Published 30 Aug, 2010 12:00am
Implementation the crux for China energy plans: IEA

Implementation the crux for China energy plans: IEA

A massive $736 billion energy investment plan could make China the world leader in renewable energy and help meet global CO2 emissions targets, but turning words into action might prove challenging, the chief economist with the International Energy Agency
Published 30 Aug, 2010 12:00am
BoJ mulls emergency meeting early next week

BoJ mulls emergency meeting early next week

The Bank of Japan is examining holding an emergency meeting early next week to ease monetary policy as the strong yen threatens the country's fragile economic recovery, a source familiar with the matter said.
Published 30 Aug, 2010 12:00am
Yemen reforms helping economy: IMF

Yemen reforms helping economy: IMF

Recent gains in Yemen's currency from a record low and an increase in its foreign exchange reserves are early signs that tough economic reforms are starting to pay off for the impoverished Arab state, a senior IMF official said on Friday.
Published 30 Aug, 2010 12:00am
India's gold investment seen topping jewellery sale

India's gold investment seen topping jewellery sale

India's gold investment demand may rise 25-30 percent in the second half of 2010 from a year ago as a shift in preferences from jewellery to exchange-traded funds (ETF), bars and coins gathers pace, the head of a spot bullion exchange told Reuters on Frid
Published 30 Aug, 2010 12:00am
Egypt housing project on track for 500,000 units

Egypt housing project on track for 500,000 units

A state project aiming to ease Egypt's housing shortage is on track to meet or exceed its goal of providing half a million homes by the end of next year, its chief official said on Wednesday.
Published 30 Aug, 2010 12:00am
Brazil ups stakes for foreign investors in farmland

Brazil ups stakes for foreign investors in farmland

Brazil's essential role as a provider of food for the world's expanding population is at risk if the government makes good on threats to curtail foreign investment in farmland.
Published 30 Aug, 2010 12:00am
Japanese firms to move abroad if yen stays high

Japanese firms to move abroad if yen stays high

Roughly 40 percent of Japanese firms say they would move factories overseas if the yen stays at its current high of around 85 to the dollar, according to an official survey released Friday. The yen has recently traded near a 15-year-high against the dolla
Published 30 Aug, 2010 12:00am
BlackBerry maker battles to avert India shutdown

BlackBerry maker battles to avert India shutdown

BlackBerry's maker is bidding to assuage Indian security concerns but the government is cranking up the pressure in a row that could see core features of the popular smartphone shut down next week. Research in Motion (RIM), the Canadian company that makes
Published 30 Aug, 2010 12:00am
Belarus flirts with China, chilly on market reform

Belarus flirts with China, chilly on market reform

Belarus is likely to give few clues at least until after upcoming presidential elections on whether it will seek much-needed foreign investment elsewhere or concentrate on its strongly developing links with China.
Published 30 Aug, 2010 12:00am
AIG to decide on AIA pre-IPO sale by next week

AIG to decide on AIA pre-IPO sale by next week

American International Group Inc is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA, sources familiar with the process told Reuters on Wednesday.
Published 30 Aug, 2010 12:00am
AIG to decide on AIA pre-IPO sale by next week

AIG to decide on AIA pre-IPO sale by next week

American International Group Inc is expected to decide by early next week whether to enter formal negotiations with strategic investors for its Asian life insurance business, AIA, sources familiar with the process told Reuters on Wednesday.
Published 30 Aug, 2010 12:00am
Peaceful referendum to boost Kenya tourism

Peaceful referendum to boost Kenya tourism

Kenya expects the peaceful referendum on its new constitution to boost tourism and that visitor numbers in 2010 may surpass 2007's record, Kenya's state-run Tourist Board (KTB) Managing Director Muriithi Ndegwa said.
Published 30 Aug, 2010 12:00am
Financial storm clouds set gold on course for history

Financial storm clouds set gold on course for history

An ill wind blowing through financial markets is breathing vigour into gold, which could mark record highs for the third time this year in September - or sooner - as fundamental and technical factors align.
Published 30 Aug, 2010 12:00am
Cheap grain key to Russia regaining markets

Cheap grain key to Russia regaining markets

Last year's world top three grain exporter Russia has seen its ambitious export plans thwarted by catastrophic drought but will regain its footing in traditional markets, analysts say, even as rivals exploit its export ban. Its main spearhead in satisfyin
Published 30 Aug, 2010 12:00am
Unions ramp up campaign against UK spending cuts

Unions ramp up campaign against UK spending cuts

Britain's unions plan a campaign of political pressure to try to turn voters against the coalition government's plans to slash public spending, the Trades Union Congress (TUC) said on Wednesday. The TUC will use its annual congress next month to launch th
Published 30 Aug, 2010 12:00am
Retailers may not buy US banks' cell phone bet

Retailers may not buy US banks' cell phone bet

Banks, payment processors and cell phone companies are trying to sell US retailers on a not-so-distant future where customers can use their smart phones to do even more - pay for stuff.
Published 30 Aug, 2010 12:00am
Brazil analysts see no rate rises through 2010

Brazil analysts see no rate rises through 2010

Economists see Brazil's central bank holding interest rates through year-end, cementing market expectations policymakers will next week halt a cycle of interest rate hikes that began in April. Local economists cut their forecast for the benchmark Selic ra
Published 30 Aug, 2010 12:00am
US and Asean economic ties 'priority' despite no-show

US and Asean economic ties 'priority' despite no-show

Economic ties between the United States and Southeast Asia are "a high priority", an embassy spokesman said Saturday despite the absence of US officials from a key regional trade meeting.
Published 30 Aug, 2010 12:00am
Gap plans Australia roll-out in Asia push

Gap plans Australia roll-out in Asia push

US clothing chain Gap Inc plans to open 10 to 15 stores in Australia over the next three years as part of a big push in Asia to offset soft sales at home, a senior executive told Reuters on Wednesday. "We are in talks with mall owners; the timing really d
Published 30 Aug, 2010 12:00am
Angola to start building new refinery this year

Angola to start building new refinery this year

Angolan state-run oil firm Sonangol will start building a long-delayed $8 billion refinery this year in a bid to cut back on imports of refined products, which have weighed on the economy, its oil minister said. Jose Botelho de Vasconcelos said the new 20
Published 30 Aug, 2010 12:00am
Greek traders fear 'A-bomb' effect from austerity tax hikes

Greek traders fear 'A-bomb' effect from austerity tax hikes

Tax hikes planned by the Greek government as it struggles to slash a mountain of debt will have an "A-bomb" effect on the country's struggling small businesses, their confederation said Wednesday. "Any further VAT increase will have a 'A-bomb' effect," th
Published 30 Aug, 2010 12:00am
US, Cuba and Mexico urged to cooperate on Gulf drilling

US, Cuba and Mexico urged to cooperate on Gulf drilling

Cuba's oil industry wants to work with its counterparts in the United States and Mexico to promote safe drilling practices and avoid the kind of well blow-out and spill seen recently in the Gulf of Mexico, a leading drilling industry expert said on Wednes
Published 30 Aug, 2010 12:00am
Zain Iraq to starts operation in Kurdistan in 2011

Zain Iraq to starts operation in Kurdistan in 2011

The Iraqi unit of Kuwait telecoms firm Zain will start operating in Iraqi Kurdistan in January and expects to boost its subscriber base by 1.2 million in 2011, its chief executive said on Sunday.
Published 30 Aug, 2010 12:00am
Australia turns to sun, wind and waves for clean energy

Australia turns to sun, wind and waves for clean energy

Australia plans to build the southern hemisphere's biggest wind farm by 2013 as it scrambles to harness its abundance of clean energy sources, such as wind, solar, waves, geothermal and bioenergy, and fight climate change. Renewable energy now supplies ju
Published 30 Aug, 2010 12:00am
Olam eyes growth in sugar and palm oil assets

Olam eyes growth in sugar and palm oil assets

Diversified commodities firm Olam International aims to boost production volume by 15-20 percent annually as it expands into upstream sugar and palm oil ventures, its chief executive said on Friday.
Published 30 Aug, 2010 12:00am
France Socialists challenge Sarkozy on security

France Socialists challenge Sarkozy on security

France's opposition Socialists on Sunday launched their battle for the 2012 presidential election with an attack on President Nicolas Sarkozy's controversial crime crackdown.
Published 30 Aug, 2010 12:00am
EU to help Iraq dismantle old nuclear facilities

EU to help Iraq dismantle old nuclear facilities

The European Union signed a 2.5 million euro ($3.2 million) agreement with Iraq on Sunday to help Iraqi scientists' dismantle, decommission and decontaminate nuclear facilities built under dictator Saddam Hussein.
Published 30 Aug, 2010 12:00am
Obama vows to fight 'until job is done'

Obama vows to fight 'until job is done'

US President Barack Obama Sunday promised his administration would work on rebuilding this flood-ravaged city "until the job is done," five years after Hurricane Katrina inundated the famed jazz capital. "I wanted to come here and tell the people of this
Published 30 Aug, 2010 12:00am
Survivors, Obama mark five years since Hurricane Katrina

Survivors, Obama mark five years since Hurricane Katrina

President Barack Obama arrived in still-struggling New Orleans on Sunday to join residents marking five years since flood waters driven by Hurricane Katrina inundated the famous jazz capital.
Published 30 Aug, 2010 12:00am
Anti-Obama protestors gather at Lincoln Memorial

Anti-Obama protestors gather at Lincoln Memorial

A right-wing rally to honour the US military drew tens of thousands of supporters to the Lincoln Memorial in Washington on Saturday - just two months ahead of key congressional elections.
Published 30 Aug, 2010 12:00am
Five Indian police killed in gunfight with Maoists

Five Indian police killed in gunfight with Maoists

Maoist guerrillas killed five policemen in a gunfight in India's central state of Chhattisgarh on Sunday, a senior police officer told AFP. Three of the men belonged to the elite Border Security Force paramilitary group and two were regular police officer
Published 30 Aug, 2010 12:00am
Study finds first genetic link to common migraine

Study finds first genetic link to common migraine

An international scientific team has identified for the first time a genetic risk factor associated with common migraines and say their research could open the way for new treatments to prevent migraine attacks.
Published 30 Aug, 2010 12:00am
Gaddafi arrives in Italy, business in focus

Gaddafi arrives in Italy, business in focus

Libyan leader Muammar Gaddafi arrived in Rome on Sunday for a two-day visit that has aroused a mixture of curiosity and controversy over Tripoli's growing influence in the Italian economy. Media reports have focused on the tent in which Gaddafi sleeps on
Published 30 Aug, 2010 12:00am
Thousands march in Hong Kong over Manila hostage tragedy

Thousands march in Hong Kong over Manila hostage tragedy

Tens of thousands of people rallied in Hong Kong on Sunday to demand justice for victims of the Manila hostage bloodbath, as the city's large Filipino community staged its own memorials for the dead.
Published 30 Aug, 2010 12:00am
Man nabbed with fake $1 million bills in Abu Dhabi

Man nabbed with fake $1 million bills in Abu Dhabi

Can you break a $1 million? Not a chance. But the story is rich in audacity. A man from the Ivory Coast is in police custody in Abu Dhabi after allegedly persuading a woman to try to exchange two phony $1 million bills at the UAE's Central Bank.
Published 30 Aug, 2010 12:00am
Merkel speaks in favour of nuclear extension

Merkel speaks in favour of nuclear extension

Chancellor Angela Merkel spoke out in favour of extending the use of nuclear power plants in Germany in a television interview on Sunday, saying it would be reasonable if they could run another 10 to 15 years. But she also warned against high expectations
Published 30 Aug, 2010 12:00am
36 die as Ecuadorean bus plunges off cliff

36 die as Ecuadorean bus plunges off cliff

Ecuadorean officials say a bus has run off the road and plunged down a cliff, killing at least 36 people. Police and the local fire department say the accident occurred at 3:20 a.m. (4:20 EDT; 0820 GMT) in the area of La Delicia, about 55 miles (95 kilome
Published 30 Aug, 2010 12:00am
Fire at proposed US mosque site probed by feds

Fire at proposed US mosque site probed by feds

Authorities are investigating a fire that damaged at least one construction vehicle at a Tennessee site where a new mosque is being built. Federal investigators won't say whether they believe the fire early Saturday was intentionally set at the suburban N
Published 30 Aug, 2010 12:00am
Iran coach targets 2011 Asian Cup triumph

Iran coach targets 2011 Asian Cup triumph

Iran coach Afshin Qotbi said on Sunday he is hoping to pilot his side to glory in the 2011 Asian Cup finals and what would be a first title in 35 years. The draw in the Asian Cup 2011 to be played in Qatar on January 7-29 groups Iran, the Asian powerhouse
Published 30 Aug, 2010 12:00am
Cricket's greatest 'fixing' scandals

Cricket's greatest 'fixing' scandals

Cricket and gambling have had an uneasy relationship almost for as long as the game has been played. In the 19th century aristocratic patrons set up a betting tent in front of the pavilion at Lord's before the ground's owners, Marylebone Cricket Club, sen
Published 30 Aug, 2010 12:00am
England ODIs on despite 'fix' probe

England ODIs on despite 'fix' probe

Pakistan tour manager Yawar Saeed insisted on Sunday the upcoming one-day series against England would go ahead as scheduled despite allegations of a betting scandal surrounding the team.
Published 30 Aug, 2010 12:00am
Indian Prime Minister tours troubled Commonwealth Games venues

Indian Prime Minister tours troubled Commonwealth Games venues

Indian Prime Minister Manmohan Singh Sunday inspected venues in New Delhi where the Commonwealth Games will be held in October, urging organisers to overcome delays that threaten to ruin the event. Many sports facilities have yet to be completed 35 days b
Published 30 Aug, 2010 12:00am
'Gladbach run riot in nine-goal thriller

'Gladbach run riot in nine-goal thriller

Cameroon striker Mohamadou Idrissou was both goal-scorer and provider for Moenchengladbach as they upset Leverkusen 6-3 on Sunday in a nine-goal thriller on a weekend of shock results in the Bundesliga. Leverkusen's Germany goalkeeper Rene Adler had a day
Published 30 Aug, 2010 12:00am
Wozniacki wins third straight New Haven title

Wozniacki wins third straight New Haven title

Caroline Wozniacki will take the top seed and the confidence of a third straight WTA New Haven title into the US Open next week. The Dane defeated Russian eighth seed Nadia Petrova 6-3, 3-6, 6-3 Saturday to claim a third consecutive crown in the Pilot Pen
Published 30 Aug, 2010 12:00am
Torres gives Liverpool win, but Manchester City lose

Torres gives Liverpool win, but Manchester City lose

Fernando Torres scored his first goal in 10 games as Liverpool kick-started their Premier League campaign with a 1-0 win over West Bromwich Albion at Anfield on Sunday. Big spending Manchester City though, who beat Liverpool 3-0 on Monday, were beaten 1-0
Published 30 Aug, 2010 12:00am
Rudisha breaks 800 million world record again

Rudisha breaks 800 million world record again

Kenyan David Rudisha broke the 800m world record for the second time in a week, setting a new marker of 1min 41.01sec at a meeting in Rieti, Italy on Sunday. It was only last Sunday in Berlin that the 21-year-old had set a mark of 1:41.09 to beat Wilson K
Published 30 Aug, 2010 12:00am
Lamb calls for life bans if rigging claims proved

Lamb calls for life bans if rigging claims proved

Any Pakistan player found guilty of match-fixing during the fourth Test against England at Lord's should be banned for life, former England batsman Allan Lamb suggested on Sunday.
Published 30 Aug, 2010 12:00am
England thrash Pakistan in 'fix row' Test

England thrash Pakistan in 'fix row' Test

England crushed Pakistan by an innings and 225 runs to win the fourth and final Test at Lord's here on Sunday with more than a day to spare. Victory, wrapped up before lunch on the fourth day, gave England the series, their last before they defend the Ash
Published 30 Aug, 2010 12:00am
Kurd gas deal with Germany's RWE illegal: Iraq

Kurd gas deal with Germany's RWE illegal: Iraq

Iraq's oil ministry said on Sunday the agreement Germany's RWE signed with the Kurdish Regional Government, which included possible future gas supply for the Nabucco pipeline project, is illegal.
Published 30 Aug, 2010 12:00am
Morocco cancels import duty for soft wheat

Morocco cancels import duty for soft wheat

Morocco will cancel customs duty on imports of soft wheat for over three months to ease shortfalls in its grain harvest, the official MAP news agency reported on Sunday. The cancellation will run from September 16 to December 31, MAP quoted a government c
Published 30 Aug, 2010 12:00am
Bangladesh to send 45,000 maids to Singapore

Bangladesh to send 45,000 maids to Singapore

Singapore will recruit 45,000 Bangladeshi domestic workers in a boost for the impoverished country's labour export sector after jobs dried up in the Middle East and elsewhere in Asia, an official said Sunday.
Published 30 Aug, 2010 12:00am
Wen urges Japan to raise wages of Chinese workers

Wen urges Japan to raise wages of Chinese workers

Chinese Premier Wen Jiabao on Sunday urged Japanese companies operating in China to raise workers' wages, after a series of strikes led to costly factory shutdowns, Japan's foreign ministry said.
Published 30 Aug, 2010 12:00am
Iraq says it may abide by Opec quotas in 2-3 years

Iraq says it may abide by Opec quotas in 2-3 years

Iraq's oil minister said Sunday that Baghdad will consider abiding by Opec quotas once its crude production increases to at least 4 million barrels a day in two to three years.
Published 30 Aug, 2010 12:00am
No decision on reviving US homebuyer credit

No decision on reviving US homebuyer credit

The Obama administration has not decided whether it should resurrect a popular tax credit for first-time homebuyers, US Housing and Urban Development Secretary Shaun Donovan said on Sunday.
Published 30 Aug, 2010 12:00am
German unions want higher wages in economic upturn

German unions want higher wages in economic upturn

German unions will not settle for modest pay rises again this year after accepting moderate wage deals in recent years due to the economic crisis, the head of the country's trade union federation (DGB) said on Sunday.
Published 30 Aug, 2010 12:00am
Dubai World opens talks with small creditors

Dubai World opens talks with small creditors

Troubled conglomerate Dubai World has begun talks with small creditors, not included in the co-ordination committee of banks on its restructuring plan, to avoid any lawsuits, a UAE newspaper said on Sunday.
Published 30 Aug, 2010 12:00am
South Korea to ease some housing market regulations

South Korea to ease some housing market regulations

South Korea took steps on Sunday to boost languid home transactions, but the measures fell short of market expectations as policymakers were keen to keep in check the country's already heavy consumer debts.
Published 30 Aug, 2010 12:00am
BoJ likely to meet today

BoJ likely to meet today

The Bank of Japan is likely to hold an emergency meeting on Monday to ease monetary policy after Governor Masaaki Shirakawa returned to Tokyo from a trip to the United States earlier than expected.
Published 30 Aug, 2010 12:00am
Japan's Prime Minister orders plan to boost domestic investment

Japan's Prime Minister orders plan to boost domestic investment

Japan's premier has ordered his industry minister to draw up a plan to boost domestic investment and keep jobs at home as a strong yen pressures Japanese firms to move factories abroad, reports said Sunday. Prime Minister Naoto Kan has instructed Economy,
Published 30 Aug, 2010 12:00am
Iran plans to raise oil output from joint fields

Iran plans to raise oil output from joint fields

Iran plans a 20-percent increase in production at its offshore oil fields by next March, the head of Iran's Offshore Oil Company said on Sunday, a semi-official news agency reported.
Published 30 Aug, 2010 12:00am
Troubled Saudi carrier Sama lays off employees

Troubled Saudi carrier Sama lays off employees

Troubled low-cost Saudi carrier Sama on Saturday told its staff that most of them will have to be laid off immediately after talks with the government failed to yield a commitment to support the loss-making company.
Published 30 Aug, 2010 12:00am
Saudis demand government jobs in rare protest

Saudis demand government jobs in rare protest

Some 200 unemployed Saudi university graduates staged a rare protest in the capital Riyadh demanding the Gulf Arab state give them jobs, Saudi media said on Sunday. Saudi Arabia, the world's biggest oil exporter, is an absolute monarchy that has no electe
Published 30 Aug, 2010 12:00am
Video games help shy youngsters build social skills

Video games help shy youngsters build social skills

Scientists have found that children who spend hours playing online games may be developing friendships and nurturing vital social skills, a news report said on August 24. Rather than causing them harm, playing computer games can help boost the self-esteem
Published 30 Aug, 2010 12:00am
Consumer Electronics Show features Apple add-ons, 3D

Consumer Electronics Show features Apple add-ons, 3D

This year's most-talked-about electronic products, the iPad and iPhone 4, may not be coming to the electronics and appliances trade fair IFA in Berlin next month, but plenty of accessories for the Apple gizmos, will be on show.
Published 30 Aug, 2010 12:00am
Older folks flocking to online social networks

Older folks flocking to online social networks

While online social networks remain havens for the young, they are also becoming increasingly popular with the over 50 crowd in the United States, a study released on August 27 showed.
Published 30 Aug, 2010 12:00am
Internet abuzz with Gmail telephone calls

Internet abuzz with Gmail telephone calls

Internet telephone capabilities added to Google's free Web-based email service in the United States appeared to be a hit on August 26, with more than a million calls logged in the 24 hours after launch. More than a million Voice calls were racked up at Gm
Published 30 Aug, 2010 12:00am
Google polishes real-time search, launches site

Google polishes real-time search, launches site

Google Inc launched a website on August 26 for users who want to sift through news, comments and other information on the Internet in real time, letting them follow conversations on social network hubs such as Facebook and Twitter in one place.
Published 30 Aug, 2010 12:00am
Apple may update iPod line on September 1

Apple may update iPod line on September 1

Apple is planning a September 1 event at which the company is expected to unveil an updated iPod line-up. In its usual cryptic style, Apple sent out email invitations revealing little more than the place and time of the event, which will be held in the Ye
Published 30 Aug, 2010 12:00am
Cracks in computer defences abound: IBM

Cracks in computer defences abound: IBM

IBM on August 25 reported that the number of discovered cracks that hackers could exploit in computer software surged in the first half of the year. The number of new "vulnerabilities" documented by an X-Force Research and Development team at IBM increase
Published 30 Aug, 2010 12:00am
Thai mobile firms to launch number portability

Thai mobile firms to launch number portability

Thailand's five telecoms operators expected to launch number portability allowing mobile users to keep their number when shifting from one operator to another by December, a clearing house unit said on August 24. Number portability will be a big step in t
Published 30 Aug, 2010 12:00am
Kenya mobile penetration crosses 50 percent mark

Kenya mobile penetration crosses 50 percent mark

Mobile phone penetration in Kenya was 51 percent mark in the first quarter of 2010 when SIM card numbers rose 2.7 percent to 19.9 million from the previous quarter, the industry regulator said on August 23.
Published 30 Aug, 2010 12:00am
Facebook clinches top spot from Orkut in India

Facebook clinches top spot from Orkut in India

Facebook has become the number one social networking site in India, toppling Google-owned Orkut in one of the few markets the site had held a leadership position, a survey showed on August 26. US-based global research firm comScore said Facebook had moved
Published 30 Aug, 2010 12:00am
Tencent buys Google-backed social-networking company

Tencent buys Google-backed social-networking company

China's largest Internet company Tencent Holdings Ltd has bought a Google-backed Chinese social networking company for more than $60 million, the China Business News reported on August 24.
Published 30 Aug, 2010 12:00am
Tiffany 2Q net income rises 19 percent on rising sales

Tiffany 2Q net income rises 19 percent on rising sales

Tiffany & Co's second-quarter net income rose by 19 percent as the luxury jeweller's revenue rose as shoppers bought more of its products around the world, particularly in Asia and Europe. The chain raised its full-year earnings guidance to a range partly
Published 30 Aug, 2010 12:00am
Tiffany 2Q net income rises 19 percent on rising sales

Tiffany 2Q net income rises 19 percent on rising sales

Tiffany & Co's second-quarter net income rose by 19 percent as the luxury jeweller's revenue rose as shoppers bought more of its products around the world, particularly in Asia and Europe. The chain raised its full-year earnings guidance to a range partly
Published 30 Aug, 2010 12:00am
Commerzbank plans five billion euro capital hike

Commerzbank plans five billion euro capital hike

Germany's second-biggest lender Commerzbank AG is planning to raise at least 5 billion euros ($6.4 billion) to buy back the government's stake, a newspaper reported on August 27. A spokesman for the bank, whose shares fell more than 3 percent on the Hande
Published 30 Aug, 2010 12:00am
Founder may buy back Washington Times

Founder may buy back Washington Times

US newspaper the Washington Times may be bought back by its founder the Rev. Sun Myung Moon from his eldest son Preston Moon, former Times staffers with knowledge of the negotiations told the Washington Post.
Published 30 Aug, 2010 12:00am
HSBC plans buildup of India investment banking

HSBC plans buildup of India investment banking

UK lender HSBC Holdings plans to beef up its investment banking operations in India, leveraging its balance sheet to help it grow in a deal-making market that is both fast-growing and fiercely competitive.
Published 30 Aug, 2010 12:00am
Continental, United merger approved

Continental, United merger approved

The United States on August 27 cleared the way for a merger between US carriers United and Continental that will create the world's biggest airline, the Department of Justice said. "The department has closed its investigation into the proposed merger of U
Published 30 Aug, 2010 12:00am
Bharti Airtel eyes market leadership in Kenya

Bharti Airtel eyes market leadership in Kenya

Zain Kenya plans to invest more than 25 billion shillings ($308.1 million) in the next 18 months in a bid to gain market leadership in the nation of 20 million mobile phone users, its country managing director said. Ranked the second largest operator by u
Published 30 Aug, 2010 12:00am
Airbus comfortable with A350 delivery targets

Airbus comfortable with A350 delivery targets

European airplane maker Airbus is "comfortable" with delivery commitments for its future A350 long-distance passenger model, the company's chief operating officer said on August 27. "I am very comfortable that we will meet all our customers' delivery comm
Published 30 Aug, 2010 12:00am
Intel downgrades third quarter revenue forecast

Intel downgrades third quarter revenue forecast

Intel slashed on August 27 its third quarter revenue forecast due to lower demand for computers, leading to a sharp selloff of the microchip giant's shares. It said revenue would come in around 11 billion dollars, lower than the earlier estimate of 11.2 t
Published 30 Aug, 2010 12:00am
HP tops Dell bid for 3PAR as buy-out battle rages

HP tops Dell bid for 3PAR as buy-out battle rages

Computer-maker giant Hewlett-Packard on August 27 struck fast in its battle with Dell to purchase data storage firm 3PAR, raising its offer again just two hours after Dell's latest bid. HP announced it increased its offer to two billion dollars or 30 doll
Published 30 Aug, 2010 12:00am
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