|
BoJ chief plays down talk of rate hikes
TOKYO, Mar 16: Bank of Japan Governor Toshihiko Fukui dampened Thursday speculation the central bank might soon raise interest rates, saying it was too early to say when near-zero borrowing costs would end. The Bank of Japan will continue to hold short-term interest rates at almost zero per cent "for the time being", he told a parliamentary committee. The remarks helped calm concerns that the Bank of Japan may soon begin increasing official lending rates after announcing last week an end to its five-year ultra-loose monetary policy known as "quantitative easing." ---AFP
Prudential sees 33pc jump in annual profits
LONDON, Mar 16: Britain's second-biggest insurance group Prudential said Thursday that its annual pretax operating profit rose by 33 per cent in 2005, boosted by a strong performance from its US operations. Prudential said the profit came in at 1.712 billion pounds (2.481 billion euros, 2.992 billion dollars), up from 1.288 billion pounds in 2004, and ahead of the 1.576 billion forecast by analysts. ----AFP
M'sian economy to expand slightly
KUALA LUMPUR, Mar 16: Malaysia's economy may grow slightly faster in 2006 fueled by the private sector, an independent think tank said Thursday but it warned that interest rates may edge higher. The Malaysian Institute of Economic Research (MIER) said it expects domestic product (GDP) growth for 2006 to be 5.5 per cent, up from 5.3 per cent last year. MIER said it expects GDP growth for 2007 at 5.8 per cent. Malaysia posted a growth of 7.1 per cent in 2004, its fastest pace in four years. ---AFP
HK unemployment rate holds steady
HONG KONG, Mar 16: Hong Kong's unemployment rate held steady at a four-and-a-half-year low at 5.2 per cent in the three months to February, official figures showed Thursday. Total employment dropped by 13,000 to 3.4 million due to the slackened business activity and labour demand after the Lunar New Year holidays. The fall in total employment was offset by a drop in total labour force, down 11,400 to 3.6 million during the period. ---AFP
Saharan states call for FTA
RABAT, Mar 16: The Saharan states have called for free trade agreements to help the region achieve peace, stability and prosperity. Addressing participants at the 13th executive council meeting of the Community of Sahel-Saharan States (COMESSA) yesterday, the organisation's deputy secretary-general, Ali Gaddaye Adoukhaur, said that as a regional economic organisation, COMESSA did not only hope to build a free trade zone, but also a common market for agricultural products. --- Xinhua
|