SINGAPORE STOCK MARKET | 2012-01-20
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Headlines for ChannelNewsAsia, dated: 2012-01-23
Eurozone seeks to secure Greek debt writedown
BRUSSELS – Eurozone finance ministers scrambled on Monday to hammer out a massive debt writedown deal for Greece as Athens and its bank creditors struggled to find a compromise to avoid a messy default.
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Bank of Spain forecasts contraction of 1.5% in 2012
MADRID: Spain's central bank on Monday forecast that the country, which is struggling to slash its deficit and debt, will fall back into recession this year with a contraction of 1.5 percent.
Italy planning 50b-euro asset sale
MILAN: Italy's government is planning to sell assets worth up to 50 billion euros ($65 billion) to the Cassa Depositi e Prestiti to reduce the country's huge public debt, an Italian daily reported on Monday.
Philippines welcomes PAL sale plan
MANILA: Manila has welcomed plans by tycoon Lucio Tan to sell loss-making flag carrier Philippine Airlines, with a presidential spokesman saying on Monday it will improve its image.
Toyota Australia to axe 350 jobs
SYDNEY: The Australian arm of Japanese auto giant Toyota announced Monday that it would sack 350 workers at its southern carmaking plant, citing "unprecedented" pressure on its operations.
Hitachi to stop making televisions
TOKYO: Japanese high-tech giant Hitachi said it will stop making televisions by the end of September as intense price competition hurts TV earnings at many electronics manufacturers worldwide.
Foxconn apologises over boss's 'animal' comment: report
TAIPEI: Taiwan technology giant Foxconn has apologised over comments by chief Terry Gou allegedly comparing workers to animals, according to a report.
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