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Door to US-China trade talks seems to open after IMF meeting

Door to US-China trade talks seems to open after IMF meeting

The gathering of world finance ministers began with heightened anxiety about the potential damage a US-China trade war could do to the economic recovery but ended Saturday with a door open to negotiations. Christine Lagarde (centre) looks on during the group photo at the IMF/World Bank spring meeting in Washington..(AFP pic) WASHINGTON: The gathering of […]

April 21, 2018 | By | Reply More
EU, Mexico reach agreement on free trade deal

EU, Mexico reach agreement on free trade deal

Mexico said Saturday they had reached an “agreement in principle” to modernise an existing free trade deal, as the Latin American country faces pressure from protectionist measures threatened by US President Donald Trump. The EU and Mexico released a statement, about an “agreement in principle” over trade, from EU Trade Commissioner Cecilia Malmstrom (L), Mexico […]

April 21, 2018 | By | Reply More
US signals support for increase in World Bank funding

US signals support for increase in World Bank funding

US Treasury Secretary Steven Mnuchin on Saturday signaled Washington would support the World Bank request for a sharp increase in lending capacity in exchange for reforms to curb loans to higher income countries like China. IMFC plenary during the IMF/World Bank spring meeting in Washington.(Reuters pic) WASHINGTON: US Treasury Secretary Steven Mnuchin on Saturday signaled […]

April 21, 2018 | By | Reply More
Telecom standards group puts new technology on hold in wake of U.S. probe

Telecom standards group puts new technology on hold in wake of U.S. probe

A telecommunications standards organization – GSMA – said on Saturday it is delaying implementation of a new cellphone technology due to a U.S. government probe of alleged coordination between the group, AT&T Inc and Verizon Communications Inc to hinder consumers from easily switching wireless carriers. GSMA flags fly at the Mobile World Congress in Barcelona.(Reuters […]

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Malaysia's franchise industry is expected to grow five per cent this year

Malaysia's franchise industry is expected to grow five per cent this year

KUALA LUMPUR: Malaysia’s franchise industry is expected to grow five per cent this year due to its good prospects in the international markets. Domestic Trade, Cooperatives and Consumerism Minister, Datuk Seri Hamzah Zainudin said the industry contributed RM27 billion to the country’s gross domestic product (GDP) last year. “Malaysia is on track to be the […]

April 21, 2018 | By | Reply More
Foreign inflows into Bursa Malaysia hit one-year high: Najib

Foreign inflows into Bursa Malaysia hit one-year high: Najib

KUALA LUMPUR: Foreign fund inflows into Bursa Malaysia as of last Thursday hit the highest in one year at RM429.80 million, according to caretaker Prime Minister Datuk Seri Najib Abdul Razak. He said under the Barisan Nasional’s (BN) leadership, the record was successfully achieved despite the dissemination of fake news on the country’s economy. “The […]

April 21, 2018 | By | Reply More
Pound slides as UK rate hike prospect dims; US stocks fall

Pound slides as UK rate hike prospect dims; US stocks fall

NEW YORK: Worries about higher US interest rates and Apple’s prospects weighed on Wall Street equities Friday, while the British pound retreated following dovish comments from the head of the Bank of England. US stocks ended decisively lower as the yield on the 10-year US Treasury rose ever closer to 3.0%, reigniting fears that Federal […]

April 21, 2018 | By | Reply More
General Electric shares rise despite 1Q loss on hefty legal charge

General Electric shares rise despite 1Q loss on hefty legal charge

NEW YORK: Slumping industrial conglomerate General Electric won a reprieve on Wall Street Friday after reporting strong results in some divisions even as it suffered a quarterly loss due to a hefty legal charge. GE, which has been hurt by weakness in its power and oil and gas businesses, reported a first-quarter loss of US$1.2 […]

April 21, 2018 | By | Reply More
US-China trade tension dominates IMF gathering

US-China trade tension dominates IMF gathering

WASHINGTON: Trade tensions between the United States and China, which threaten to spill over into the global economy, are dominating a gathering of world finance officials even as the Group of 20 avoided the topic on Friday. Official after official has called for disputes to be resolved through dialogue rather than unilateral tariffs, and warned […]

April 21, 2018 | By | Reply More
Takeda adds more cash in boosting Shire bid over US$60 billion

Takeda adds more cash in boosting Shire bid over US$60 billion

Shire says its board of directors ‘is considering its position with respect to the fourth proposal’. TOKYO: Takeda Pharmaceutical Co sweetened its offer for drugmaker Shire Plc to more than US$60 billion after three prior bids were rejected, wooing investors in the US company with a higher cash component. The Japanese company boosted its offer […]

April 21, 2018 | By | Reply More