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EO expects to launch wellness-based township in Iskandar early next year
Tue, 07 Feb 2012 05:51:11 GMT
PETALING JAYA: Despite the unending controversies that have beleaguered Eastern Oriental Bhd (EO) since last year, the niche property developer is forging ahead with its next flagship development in Iskandar Malaysia.

Australia central bank holds rates
Tue, 07 Feb 2012 04:15:51 GMT
SYDNEY, Feb 7 (Reuters) Australia's central bank held its cash rate steady at 4.25 percent on Tuesday, a surprise to many who had thought it would cut rates, though it did leave the door open to an easing in coming months if the economy weakened.

Russian Railways to build $1.7bil coal line in Indonesia
Tue, 07 Feb 2012 04:14:06 GMT
JAKARTA, Feb 7 (Reuters) Russia's state railway firm Russian Railways plans to build a train line to transport coal in Indonesia's East Kalimantan province on Borneo island, with $1.7 billion of investment for a first phase due to be operating by 2017, Indonesia's government said on Tuesday.

Kazakh 2011 surplus soars 4.5 times to $13.6bil
Tue, 07 Feb 2012 04:12:33 GMT
ALMATY, Feb 7 (Reuters) Kazakhstan's current account surplus soared around 4.5 times last year to $13.6 billion, owing largely to high world prices for the country's commodities, the central bank said on Tuesday, publishing its revised data for the surplus.

Australia's Macquarie warns of 25% profit tumble
Tue, 07 Feb 2012 03:35:06 GMT
SYDNEY, Feb 7 (Reuters) Macquarie Group, Australia's top investment bank, warned investors its fullyear profit would fall 25 percent, double the analyst expectation, as grim financial markets hurt its trading and investment banking businesses.

Global woe to weigh on China factory growth ministry
Tue, 07 Feb 2012 03:29:28 GMT
BEIJING, Feb 7 (Reuters) China's industrial output growth is set to slow in 2012 as the global economic slowdown caused by Europe's debt crisis takes a toll on Chinese exports, China's Ministy of Industry and Information Technology said on Tuesday.

China's SAIC says Jan auto sales dip 8.48%
Tue, 07 Feb 2012 03:26:38 GMT
SHANGHAI/BEIJING, Feb 7 (Reuters) Top Chinese automaker SAIC Motor Corp reported its first monthly sales decline in six months in January as automakers and dealerships closed shop for the weeklong Lunar New Year holiday.

China steel profits to weaken in 2012 on low demand industry ministry
Tue, 07 Feb 2012 03:25:09 GMT
BEIJING, Feb 7 (Reuters) Low demand and higher costs are expected to further erode profits in the Chinese steel sector in 2012, China's industry ministry spokesman Zhu Hongren said at a news conference in Beijing on Tuesday.

Japan aims to restart nuclear reactors in April
Tue, 07 Feb 2012 03:20:34 GMT
TOKYO, Feb 7 (Reuters) Japan's trade minister said on Tuesday he had not set deadlines to resume operations at nuclear reactors after a media report said the government aimed to restart two reactors around April, the first since the Fukushima disaster almost a year ago.

Chongqing Brewery votes to keep chairman in post
Tue, 07 Feb 2012 03:13:08 GMT
SHANGHAI, Feb 7 (Reuters) Shareholders of Chongqing Brewery, partly owned by Danish brewer Carlsberg A/S , voted on Tuesday to keep its chairman in his post, rejecting a motion to remove him after shares in the Chinese beermaker slumped, Caijing reported.

Philippines Jan inflation slows, March rate cut seen
Tue, 07 Feb 2012 03:10:09 GMT
MANILA, Feb 7 (Reuters) Philippine inflation slowed to below 4 percent for the first time in more than a year, bolstering hopes the central bank will deliver a second quarterpoint cut at its March 1 meeting to shield the economy from the global downturn.

Super Bowl, Madonna set new TV audience records
Tue, 07 Feb 2012 03:06:19 GMT
NEW YORK (REUTERS) - Quarterback Eli Manning and his New York Giants may have beaten superstar Tom Brady and the New England Patriots at Sunday's Super Bowl, but none them could outmuscle Madonna -- at least, where TV audiences were concerned.

Wall St edges lower after string of gains
Tue, 07 Feb 2012 01:15:30 GMT
NEW YORK (Reuters) - Stocks closed slightly lower on Monday as lingering questions about Europe's debt crisis and corporate earnings overshadowed growing optimism about economic growth after a five-week rally.

MF Global shortfall worsened as bankruptcy neared
Tue, 07 Feb 2012 01:14:07 GMT
NEW YORK (Reuters) - In its chaotic final days, MF Global's floundering brokerage used increasingly large chunks of customer money in an effort to keep the company afloat, creating a massive shortfall in customer funds, the trustee liquidating the brokerage has found.

SEC's Gallagher wants more oversight of brokers
Tue, 07 Feb 2012 01:12:58 GMT
WASHINGTON (Reuters) - Congress made a mistake when it stripped away most of the Securities and Exchange Commission's authority to police the holding companies of broker-dealers for risks, according to the SEC's newest commissioner.

Yum profit up as China keeps growing
Tue, 07 Feb 2012 01:11:55 GMT
NEW YORK (Reuters) - KFC parent Yum Brands Inc YUM.N reported fourth-quarter earnings that topped Wall Street's view after accelerating sales and operating profit at established restaurants in China helped ease worries that growth in its top market was slowing.

Kindle-wielding Amazon dips toes into physical world
Tue, 07 Feb 2012 01:10:42 GMT
SAN FRANCISCO (Reuters) - Amazon.com Inc AMZN.O is dipping its toes into the physical world as the largest online retailer offers more products in stores that may benefit from hands-on interaction with shoppers.

BofA investor lawsuit wins class-action status
Tue, 07 Feb 2012 01:09:31 GMT
NEW YORK (Reuters) - Investors suing Bank of America Corp won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the 2008 takeover of Merrill Lynch Co and the size of Merrill's losses and bonus payouts.

MGM secures $500 mln loan to expand film, TV slate
Tue, 07 Feb 2012 01:07:59 GMT
LOS ANGELES (Reuters) - Metro-Goldwyn Mayer said its lenders agreed to loan the studio $500 million to retire debt it took on when it emerged from bankruptcy about a year ago and to expand its film and TV production.

Facebook governance a concern for Calif pension fund
Tue, 07 Feb 2012 01:06:54 GMT
NEW YORK (Reuters) - Facebook's corporate governance rules, which give shareholders little say in how the social networking website would be run as a public company, are raising the hackles of one of the largest U.S. investors, the California State Teachers' Retirement System.

Models form rights group ahead of New York Fashion Week
Tue, 07 Feb 2012 01:03:50 GMT
NEW YORK (Reuters) - Fashion models in the United States launched a rights group on Monday ahead of New York Fashion Week to seek workplace standards including backstage privacy to stop unauthorized nude photos and a program to provide confidential advice on dealing with sexual harassment.

Glencore poised to propose 8% premium to Xstrata to seal merger
Tue, 07 Feb 2012 01:00:31 GMT
LONDON: Commodities trader Glencore International is set to offer a bigger-than-expected premium to seal its proposed US$88bil merger with global miner Xstrata Plc, the iFinancial Times/i said.

Mitsubishi to stop making cars in western Europe
Tue, 07 Feb 2012 00:54:52 GMT
TOKYO: Japan’s Mitsubishi Motors Corp says it will end production at its only western European plant, in the Netherlands, at the end of this year, a move that is expected as its sales in Europe have dropped to a third of their peak.       

Japan hurt by yen rise, deflation
Tue, 07 Feb 2012 00:49:03 GMT
TOKYO: Bank of Japan governor Masaaki Shirakawa says he acknowledges that Japan’s economy is in a severe situation due to deflation and a strong yen, signalling the central bank’s readiness to offer further monetary stimulus if the fragile economic recovery is threatened.

Indonesia's growth hits 6.5%, strongest since 1996
Tue, 07 Feb 2012 00:40:18 GMT
JAKARTA: Indonesia’s economy expanded 6.5% in the fourth quarter from a year earlier, as surging domestic consumption and investment offset weakening exports growth, giving the central bank room to hold rates steady this week.

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