Bank uncovers $7 billion fraud by single trader

"PARIS (AP) -- Societe Generale uncovered a $7.14 billion fraud -- one of history's biggest -- by a single futures trader who orchestrated a series of bogus transactions that spiraled out of control amid roiling markets this week, the French bank said Thursday. Executives...

Indonesian shares outlook - Lower on falls in Asian, US markets

""We cannot fight the trend. If the region is going down, we will just follow suit," said Nico Suherman, an analyst at Panin Securities.The fact that Wall Street closed lower Friday after President Bush announced a 145 billion dollar economic stimulus plan has raised doubts...

FCC to Green Light $19.5 Billion Sale of Clear Channel

Recent reports indicate that American media giant Clear Channel is set for a merger with a private investment group. "The FCC appears set to give its approval to Clear Channel’s (NYSE: CCU) $19.5 billion sale to two private equity firms. Citing an agency official, AP...

Indonesian shares end morning off highs ahead of US rate decision

Jakarta ANTARA News) - Indonesian shares finished the morning session Tuesday off their highs as some investors opted to pocket gains in select stocks as they await the US Fed's decision on interest rates tonight. Among the key gainers was the country's sixth largest bank, PT...

Adopted polar bear celebrates first birthday

"Knut, the world-famous polar bear, turned one today and polished off a giant fish cake at a birthday party in Berlin Zoo that was broadcast live on German television. Hundreds of children gathered at the zoo with birthday cards for the bear, who became a tourist magnet after...

Vietnam stock exchange more appealing than India, China, says HSBC

Foreign investors were more attracted by the Ho Chi Minh Stock Exchange (HOSE) than the stock markets in both India and China, according to an HSBC representative.Among emerging markets like India and China, Vietnam offered attractive policies to foreign investors, such...

Indonesian shares lower in early trade as oil price tops 99 dollars

"But there seems to be ongoing buying interest in miners such as Bumi Resources and Antam as well as oil producer Medco on hopes they will post strong earnings this year due to higher commodity prices, he said.Telkom and Indosat were also higher on a technical rebound and...

Indonesian telecoms stocks fall on anti-monopoly ruling

"Shares of the largest telecommunication firm, PT Telekomunikasi Indonesia Tbk (Telkom) opened down 3.35 percent at 10,100 rupiah at the start of trading. Telkom owns 65 percent of Indonesia's biggest mobile phone operator Telkomsel. PT Indosat Tbk, Indonesia's second-largest...

KPPU declares Temasek guilty of cross-share ownership

"In its decision read out at the KPPU office here on Monday, the commission also ordered Temasek to pay a fine of Rp25 billion and dispose of shares in Indosat or Telkomsel no later than two years after the verdict has come into permanent legal force. Temasek was also ordered...

Five state firms expected to go public in 2008

""Actually, sixteen state firms ate the target of our revitalization and privatization program. But at present only five of them have sufficient potential to enter the capital market," Djalil said on Monday. He said his office would select which state-owned companies were...