Reform economy’

MANCHESTER: Britain’s finance minister, Gordon Brown, has urged his EU counterparts to push ahead with economic reform so the bloc can compete with the booming economies in Asia. “Asia will surpass Europe in the coming 20 years,” Brown warned during two days of informal talks between the ministers in Manchester, northern England, which ended on Saturday. — AFP

China eyes more trade

TORONTO: China’s president Hu Jintao pressed Canada’s business leaders in Toronto on Saturday to help double bilateral trade by 2010. Hu told some 800 business, political and Chinese-Canadian community leaders the two were “important trading partners, however, given the size of our two economies, there is still potential for more bilateral trade and economic cooperation.” — AFP

Singapore places bets

SINGAPORE: Singapore’s global investment portfolio continues to expand at a blistering pace, with a landmark Paris hotel ending up as the city-state’s latest trophy for a cool $392 million in cash. In the past two weeks alone, Singapore has invested more than $4.0 billion in major economies including China through its global investment firms. — AFP

MA, Airbus dispute

KUALA LUMPUR: Malaysia Airlines (MA) said on Sunday it was ‘disappointed’ with Airbus over a six-month delay in delivering its new super-jumbo A380 aircraft and may demand compensation. “We are naturally disappointed with this delay,” Azmil Zahruddin, executive director of the national carrier said. — AFP

Telstra privatisation

CANBERRA: A government lawmaker threatened to scuttle the largest privatisation in Australian history unless the prime minister John Howard reassures him that rural phone services will not suffer after the sale of telecommunications giant Telstra Corp. The government wants to sell its 51.8 per cent stake in Telstra. — AP