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World Bank defends policy on
poverty
Oslo: The
World Bank said at the start of an Oslo conference on Monday that it
was on the right track to ease poverty as Norwegian police braced for
demonstrations against its policies.
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Tai to hasten cost-cut at DBS Bank
Hong Kong:
The new head of Southeast Asias
largest banking group DBS Bank, Jackson Tai, is a no-nonsense,
charismatic leader who would ensure continuity in the bank's
integration and cost-cutting efforts.
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Business still frail in Japan: Tankan survey
Tokyo:
The Bank of Japans next tankan
survey will show large firms feeling slightly better than in the
previous quarter after a rebound in exports, but most are still frail
and lack appetite for capital spending.
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Bank of China HK IPO valued at 1.5 times book value
Hong Kong:
The Hong Kong arm of state giant
Bank of China, which kicked off pre-marketing for its landmark initial
public offering on Monday, will float 25 per cent of the company to
raise up to $three billion.
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Playboy artworks
just as hot
New York: Turns out that some people like Playboy for
more than just its articles. Artworks by Leroy Neiman, a mainstay of
the pages of Playboy for almost 50 years, were the top sellers
at an auction of 500 paintings, photos and cartoons from the magazines
archives on Sunday.
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Pak
reserves up by $690 million in June
Islamabad: Pakistans
foreign exchange reserves are up by $690 million dollars this month.
Finance ministry officials told Online news agency that a $500 million
release of economic aid by the World Bank and an increase in the
inflow of remittances strengthened foreign exchange reserves beyond $6
billion dollars in June.
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Morgan
made Enron look better: Insurers
New York: Eleven
insurance companies said in new legal documents that JP Morgan Chase
& Co conspired to make Enron Corp look healthier than it was, the Wall
Street Journal reported on Monday.
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Global
Crossing readies new investor consortium
New York: Global Crossings management team is gearing up
this week to assemble a new consortium of investors that can allow the
bankrupt telecom firm to operate as an independent company, chief
executive John Legere said.
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Allegations of shredding denied
New York:
Bankrupt telecommunications
services provider Global Crossing Ltd has denied allegations that the
company shredded documents contrary to orders that it retain them
while securities regulators investigated potential wrong-doing.
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UKs
Burberry takes on Prada
London: Shares
in luxury British fashion label Burberry, famous for its beige
check-lined raincoats, got a conservative flotation guide price of
230-290p on Monday from owner GUS as it goes head to head with Italys
Prada.
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News Corps Italian deal in jeopardy
Rome:
Rupert Murdochs News Corp may
abandon its plan to dominate Italian pay-TV after failing to win
financial backing for its Telepiu acquisition, Financial Times reported
on its Website edition on Monday.
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Jerusalem
film festival to screen Bollywood hits
Tel Aviv: It
is time for Kabhi Khushi Kabhi Gam in Israel. Though the
country is facing tumultuous times, it has not deterred Israelis from
watching Bollywood hits.
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