Finance News, Saturday 12th February 2011
Rio CEO targets iron ore as demand booms
Rio Tinto chief Tom Albanese said Australian iron ore was the firms top growth priority- with demand set to outstrip supply of the precious steelmaking metal until at least 2013.The Anglo-Australian ... ...Sat 12th February 2011 - 09:01pm
S.Korea firms win 2.5 bln order from Saudi
Two South Korean builders said they have secured a combined 2.5 billion order from a Saudi state oil company to build a major gas plant in the kingdom.SK Engineering and Construction won a 1.9 billion ... ...Sat 12th February 2011 - 08:31pm
Rio Tinto targets iron ore on booming demand- CEO
Rio Tinto chief Tom Albanese said Australian iron ore was the firms top growth priority- with demand set to outstrip supply of the precious steelmaking metal until at least 2013.The Anglo-Australian ... ...Sat 12th February 2011 - 08:00pm
Obama struggles to balance budget cuts- investment
US President Barack Obama unveils his fiscal 2012 budget Monday- an election year plan forged from conflicting needs to cut spending and stoke the economic recovery.With vast crisis payments and sharply ... ...Sat 12th February 2011 - 07:40pm
China to vet foreign M-ampA deals for national security
China says it will vet proposed mergers and acquisition deals by foreign firms to safeguard national security- a move that could complicate business dealings in the country.The State Council- ... ...Sat 12th February 2011 - 06:40pm
Tony Fernandes rejects Lotus Formula One offer
Aviation tycoon Tony Fernandes said he had rejected a six million pound 9.7 million offer to settle the Lotus naming dispute that has embroiled two Formula One teams.After a 16-year absence- the Lotus ... ...Sat 12th February 2011 - 05:23pm
Greece slams unacceptable EU-IMF asset sale call
Greek Prime Minister George Papandreou on Saturday accused EU and IMF officials of unacceptable behaviour over demands for a 50-billion-euro asset sale to ease Greeces crushing debts.Papandreous ... ...Sat 12th February 2011 - 11:32am
Raytheon offers pain gun to troubled India
US defence group Raytheon says it wants to sell India a controversial pain gun it claims would be safer than rubber bullets in quelling unrest in the insurgency-racked country.The Silent Guardian ... ...Sat 12th February 2011 - 10:24am
Indias Anil Ambani group says officials probed over 2G scam
Indias Reliance Group said Saturday police investigators had examined several of its officials over alleged irregularities in the awarding of 2008 mobile phone licences.The statement marked ... ...Sat 12th February 2011 - 10:17am
Australian newspaper boss arrested in Myanmar
The Australian head of Myanmars only newspaper with foreign investment has been arrested in Yangon- officials and a business partner said Saturday- amid a power struggle at his group.Ross Dunkley- ... ...Sat 12th February 2011 - 08:21am
NAB to cut exit fees for home loan defectors
The mortgage war between the big banks has ramped up with National Australia Bank offering to pay the exit fees for people who switch their home loan from two of NABs rivals.The bank says it will ... ...Sat 12th February 2011 - 07:51am
Obama says budget will feature cuts- investment
US President Barack Obama said Saturday he was determined to carry out budget cuts to improve Americas balance sheet but insisted on making key investments in the countrys future.The president ... ...Sat 12th February 2011 - 06:59am
VW sales up nearly 20 in January
Volkswagen AG says its global sales were up nearly 20 per cent in year-on-year terms in January as strong demand in Asia- particularly China and India- continued to power growth.Volkswagen - whose brands ... ...Sat 12th February 2011 - 06:28am
Indias Tata Motors quarterly profit soars
Indias top vehicle maker Tata Motors has reported a near four-fold rise in quarterly net profit- powered by higher demand for its British luxury brands Jaguar and Land Rover and better domestic sales.The ... ...Sat 12th February 2011 - 05:41am
Nokia joins forces with Microsoft
Nokia- the worlds largest mobile phone maker- says its slashing jobs and joining forces with US giant Microsoft in a major strategy shake-up thats left investors disappointed.In an effort ... ...Sat 12th February 2011 - 05:40am
NAB move nail in coffin for exit fees
A pledge by the National Australia Bank to pay the mortgage exit fees of its two biggest rivals could be the nail in the coffin for the charges- consumer group Choice says.In a bid to woo customers from ... ...Sat 12th February 2011 - 05:04am
Fiat promises massive investment in Italy- official
Italian auto giant Fiat- under pressure to abandon any plan to move its headquarters to the United States- committed Saturday to invest 20 billion euros to produce 1.4 million vehicles in Italy.Meeting ... ...Sat 12th February 2011 - 04:34am
Ailing Greek state rail to halt international trains
Greek railway operator OSE on Sunday will halt all trains to international destinations under broader cost-cutting measures to restore the organisations troubled finances- a company spokesman said.The ... ...Sat 12th February 2011 - 03:28am
Uncertain future for Hobart high school
There are fears that declining numbers could force a Hobart high school to close.The Cosgrove High School was to be upgraded to become a specialist sports school- but the State Government has scrapped ... ...Sat 12th February 2011 - 02:28am
Egypt stock exchange to reopen Wednesday
Egypts stock exchange is to reopen on Wednesday- state television said- more than two weeks after it was shut down following a precipitous plunge amid anti-regime protests.Saturdays announcement ... ...Sat 12th February 2011 - 02:27am
Weber says he had minority view on key issues
Bundesbank boss Axel Weber- who has dropped out of the running to head the European Central Bank- says he did so because he did not have enough international support- Der Spiegel magazine reported.Weber- ... ...Sat 12th February 2011 - 02:17am
NAB move nail in coffin for exit fees
A pledge by the National Australia Bank to pay the mortgage exit fees of its two biggest rivals could be the nail in the coffin for exit fees- consumer group Choice says.NAB on Saturday vowed to reimburse ... ...Sat 12th February 2011 - 02:14am
Greece blasts EU-IMF asset sale demand
Greece on Saturday blasted calls by EU and IMF officials for a massive privatisation drive worth 50 billion euros by 2015 to alleviate the countrys crushing debts.The behaviour of the European ... ...Sat 12th February 2011 - 01:48am
NAB move nail in coffin for exit fees
A pledge by the National Australia Bank to pay the mortgage exit fees of its two biggest rivals could be the nail in the coffin for exit fees- consumer group Choice says.NAB on Saturday vowed to reimburse ... ...Sat 12th February 2011 - 01:20am
Obama says budget will feature cuts- investment
US President Barack Obama said on Saturday he was determined to carry out budget cuts needed to improve Americas balance sheet- but insisted on making key investments in the countrys future.The ... ...Sat 12th February 2011 - 01:12am
Uncertain future for Hobart high school
There are fears that declining numbers could force a Hobart high school to close.The Cosgrove High School was to be upgraded to become a specialist sports school- but the State Government has scrapped ... ...Sat 12th February 2011 - 12:23am
Greece blasts EU-IMF asset sale demand
Greece on Saturday blasted calls by EU and IMF officials for a massive privatisation drive worth 50 billion euros by 2015 to alleviate the countrys crushing debts.The behaviour of the European ... ...Sat 12th February 2011 - 12:06am
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