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No price like home: Big spenders reappear in China

No price like home: Big spenders reappear in China

For the past three years, a crackdown on corruption and ostentation by President Xi Jinping dampened sales: big names such as LVMH, owner of Louis Vuitton, shuttered stores, particularly in second- and third-tier cities. BEIJING: China’s wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and […]

December 4, 2016 | By | Reply More
Allianz Honours Agreed Value for Private Car Owners

Allianz Honours Agreed Value for Private Car Owners

Zakri Khir, CEO of Allianz Malaysia Berhad and Allianz General Company (M) Berhad. Allianz General Insurance Company (Malaysia) Berhad is recommending that private car owners insure their vehicles based on the company’s Agreed Value system to ensure reliable protection. “The Agreed Value is the amount agreed by Allianz General and the policy holder for car […]

December 4, 2016 | By | Reply More
India fails to break deadlock on GST

India fails to break deadlock on GST

Adding to the uncertainty, some states in the council raked up the issue of compensation for revenues they fear losing following the GST launch as well as Prime Minister Narendra Modi’s crackdown on the cash economy. NEW DELHI: Finance Minister Arun Jaitley’s plan to launch a new national sales tax next April got a jolt […]

December 4, 2016 | By | Reply More
Fed official stands by Wall Street reforms, says must complete work

Fed official stands by Wall Street reforms, says must complete work

Challenges especially remain in regulators safely and smoothly handling the hypothetical failure of a massive bank with operations in multiple jurisdictions, says Dudley. WASHINGTON: The United States “absolutely must” complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on […]

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Small banks rally pauses but may not be over yet

Small banks rally pauses but may not be over yet

Smaller lenders could potentially add as much as 40 percent to their fourth-quarter 2017 earnings if Trump’s promises of tax cuts and regulatory changes materialize, according to Sandler O’ Neill analyst Brad Milsaps. NEW YORK: The rally in regional US bank stocks that followed last month’s election of Donald Trump may not be over, but […]

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Apple reveals autonomous vehicle ambitions

Apple reveals autonomous vehicle ambitions

The company has a separate organisation called “Project Titan” that is developing automotive projects. SAN FRANCISCO: Apple has revealed it is investing heavily in autonomous vehicles in a letter asking the government to make it easier to develop self-driving cars. The company is “excited about the potential of automated systems in many areas, including transportation,” […]

December 3, 2016 | By | Reply More
Nigeria, Morocco mull gas pipeline mega-project

Nigeria, Morocco mull gas pipeline mega-project

LAGOS: Nigeria and Morocco are in talks over a huge project to extend a West African gas pipeline to stretch up towards Europe, officials say. Nigerian Foreign Minister Geoffrey Onyeama said in a government video posted on Twitter on Friday that the pipeline would “go along the coast from West Africa – Nigeria – all […]

December 3, 2016 | By | Reply More
Norway government wins backing for 2017 budget, prevents collapse

Norway government wins backing for 2017 budget, prevents collapse

OSLO: Norway’s right-wing minority coalition has secured backing in parliament from two centrist parties for its 2017 fiscal budget, preventing a government collapse, politicians negotiating the deal told Reuters on Saturday. Following weeks of difficult talks, the Liberal Party and the Christian Democrats will back the ruling coalition of the Conservatives and the Progress Party, […]

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Virgin Galactic spaceship makes first glide flight

Virgin Galactic spaceship makes first glide flight

WASHINGTON: Virgin Galactic’s new spaceship has made a successful first glide flight, a key step after a deadly crash of its predecessor two years ago, the spaceflight company said on Saturday (Dec 3). The new SpaceShipTwo, dubbed VSS Unity, was hoisted aloft by carrier airplane WhiteKnightTwo VMS Eve from the Mojave Air & Space Port […]

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Trump’s dilemma: Slower job growth or rising rates and inflation?

Trump’s dilemma: Slower job growth or rising rates and inflation?

With November’s decline, the jobless rate is now already below the most optimistic projections from Fed policymakers for where it would stand at year end. WASHINGTON: A drop in the US unemployment rate last month to a 9-year low signals the risk of a collision between President-elect Donald Trump’s plans to goose the economy and […]

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