No image available
/ 7 May 2008

Gates plays down prospects of fresh Yahoo! bid

Microsoft chairperson Bill Gates on Wednesday played down the chances of a fresh takeover bid for Yahoo!, saying the United States software giant would focus on an independent strategy. "We put a lot of effort into talking to Yahoo! and the conclusion was reached that we should pursue our own independent path," he told reporters during a visit to Tokyo.

No image available
/ 6 May 2008

Report: Yahoo! open to further talks with Microsoft

Yahoo! is willing to negotiate further with Microsoft, top executive Jerry Yang said in an interview on Tuesday, as he defended his handling of the aborted takeover bid. "We were totally willing to do a transaction, and they walked away," Yahoo! CEO Yang told the <i>Financial Times</i>, adding that he is open to renewing negotiations with Microsoft.

No image available
/ 28 April 2008

ADB’s private equity investments bust limits

The Asian Development Bank (ADB) is taking large risks by investing more in private equity firms than it is allowed to and internal controls of such investments show ”serious weaknesses”, a media report said on Monday. The bank ”breached its capital allocation limit for private equity funds of 5%”, said the Financial Times, adding that it needed new risk management standards.

No image available
/ 26 April 2008

Torch supporters, protesters mark Japan relay

Crowds of Chinese students waving red flags and signs such as ”One World, One Dream, One China” scuffled with pro-Tibet protesters in the latest leg of the Olympic torch relay in Japan on Saturday. Commenting on the turmoil that has bedevilled the global relay, International Olympics Committee president Jacques Rogge urged the West to stop hectoring China over human rights.

No image available
/ 28 March 2008

Final push for votes in Zimbabwe

Zimbabwe state media predicted on Friday a crushing victory for President Robert Mugabe in weekend elections as his two main challengers made fresh allegations that the result may be rigged. Citing an eve of poll survey by university researchers, the Herald said Mugabe was set to win 57% of the votes.

No image available
/ 25 March 2008

Medvedev presses Nato over expansion

Russian president-elect Dmitry Medvedev maintained pressure on Nato on Tuesday not to grant membership to Ukraine and Georgia, saying a week before an alliance summit that it would undermine European security. Ukraine and Georgia are lobbying Nato to grant them a Membership Action Plan, which is seen as the first step towards joining the alliance.

No image available
/ 22 March 2008

Central banks in mortgage crisis talks

Central banks on both sides of the Atlantic are in talks about the feasibility of mass purchases of mortgage-backed securities in a bid to solve the global credit crisis, the Financial Times said on Saturday. The newspaper, without citing sources, said the talks were at an early stage and part of a broader exchange on how to battle the turmoil in financial markets,

No image available
/ 19 March 2008

Govt sticking to policy of inflation targeting

The government will not abandon its inflation-targeting policy of between 3% and 6%, Finance Minister Trevor Manuel said on Wednesday. ”Our adoption of inflation targeting in the late 1990s has enabled our economy to grow and to become more competitive,” he told the National Assembly. ”We cannot, at the first signs of stress, abandon our anchor,” Manuel said.

No image available
/ 13 March 2008

ANC would campaign against death penalty

The African National Congress would campaign against the death penalty if a referendum was held on the issue, the party’s secretary general Gwede Mantashe said on Wednesday. Mantashe’s remarks follow last week’s statement by party president Jacob Zuma that a referendum should be held if enough South Africans wanted it.

No image available
/ 6 November 2007

A lesson from the Minister Mentor

The annual conference of the International Bar Association, the world’s biggest meeting of lawyers, was officially opened in Singapore recently by Minister Mentor Lee Kuan Yew. Yew, Singapore’s long-time ruler and a lawyer by training, was in no mind to soft-peddle his prescriptions for the island state’s success. ”If I had permitted freedom of expression,” he confidently announced, ”I would not be here tonight and neither would all of you.”

No image available
/ 8 October 2007

IMF: Credit crisis not over yet

The global credit squeeze is a "serious crisis" that is not over yet and will have an impact on government budgets, International Monetary Fund (IMF) outgoing head Rodrigo Rato said in an interview published on Monday. IMF managing director Rato said: "Policymakers should not think that the problems will stay at the desk of the bankers."

No image available
/ 5 October 2007

Tanzania: Only diplomacy can unseat Mugabe

Condemning Zimbabwean President Robert Mugabe is counterproductive and international powers should instead put their weight behind regional diplomatic efforts to unseat him, Tanzania’s president said on Friday. Jakaya Kikwete insisted the diplomatic approach favoured by African leaders ”will pay dividends”.

No image available
/ 18 September 2007

Russia and China ‘spying at Cold War levels’

Chinese and Russian spies are stalking the United States at levels close to those seen during the tense covert espionage duels of the Cold War, the top US intelligence officer warned on Tuesday. Director of National Intelligence Michael McConnell was to raise the spectre of a new era of clandestine intelligence wars during a House of Representatives hearing on a contentious new law on wiretapping.

No image available
/ 15 September 2007

British bank rocked by customer panic

Worried customers were expected to keep withdrawing savings en masse on Saturday from embattled British bank Northern Rock after the Bank of England bailed out the lender. Customers formed lengthy queues outside branches on Friday after Britain’s fifth-biggest home-loan provider said it was facing severe difficulties raising cash to cover its liabilities.

No image available
/ 6 September 2007

China denies cyber-spying charges

From the German chancellery to the Pentagon, government computer networks have been targeted by cyber spies that media reports say were directed by China’s military. The reported Pentagon attack was the ”most flagrant and brazen to date”, said Alex Neill, an expert on the Chinese military at London’s Royal United Services Institute.