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China is said to plan broad import tax cut as soon as October

China is said to plan broad import tax cut as soon as October

Containers sit stacked next to gantry cranes at the Yangshan Deep Water Port in Shanghai. (Bloomberg pic) BEIJING: China is planning to cut the average tariff rate that it charges on imports from the majority of its trading partners as soon as next month, two people familiar with the matter said. Premier Li Keqiang said […]

September 20, 2018 | By | Reply More
Felda to restructure bank loans, dispose of overseas assets

Felda to restructure bank loans, dispose of overseas assets

KUALA LUMPUR: The Federal Land Development Authority (Felda) today revealed a number of restructuring plans to engineer a turnaround within the next two years. Felda chairman Megat Zaharuddin Megat Mohd Nor said these included restructuring bank loans and obtaining an extra lifeline for payments, as well as disposing of some of the company’s assets in […]

September 20, 2018 | By | Reply More
Ringgit strengthens against greenback at opening

Ringgit strengthens against greenback at opening

KUALA LUMPUR: The ringgit strengthened against the US dollar today on an improved risk appetite and sentiment amid stronger crude oil prices, dealers said. At 9am, the ringgit stood at 4.1350/1390 against the greenback from 4.1415/1445 on Wednesday. A dealer said the ringgit was riding on the improved global risk appetite and emerging markets sentiment […]

September 20, 2018 | By | Reply More
Bursa extend gains to open higher

Bursa extend gains to open higher

KUALA LUMPUR: Share prices on Bursa Malaysia extended gains from yesterday to open higher today on continued buying in selected heavyweights and despite the mixed sentiment on regional markets, dealers said. At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.31 points better at 1,805.02 from Wednesday’s close of 1,800.71. The index opened […]

September 20, 2018 | By | Reply More
Opec’s decade of turmoil leaves cartel seeking a new way forward

Opec’s decade of turmoil leaves cartel seeking a new way forward

Opec’s headquarters in Vienna. (Reuters pic) LONDON: A global recession, both US$140 (RM580) and US$30 oil, the US shale revolution, a market-share war, and output cuts. Opec’s 60-year history has rarely confronted a more challenging period than the past decade. Now, instead of enjoying the higher prices resulting from 18 months of joint production cuts […]

September 20, 2018 | By | Reply More
Asian stock mixed, treasury yields hold above 3%

Asian stock mixed, treasury yields hold above 3%

A man carries air conditioner on his scooter in Shanghai. (Reuters pic) HONG KONG: Asian stocks opened mixed after the recent rally as investors set aside trade concerns, and Treasury yields approached the highest level this year. The New Zealand dollar rose as economic growth topped estimates. With little in the way of new leads […]

September 20, 2018 | By | Reply More
Jack Ma says he can’t create 1 million US jobs after all

Jack Ma says he can’t create 1 million US jobs after all

Jack Ma at the Eastern Economic Forum in Vladivostok. (Reuters pic) HONG KONG: Alibaba Group Holding Ltd. co-founder Jack Ma said his promise to create 1 million jobs in the US is impossible to fulfil because of the US-China trade war, a setback in one high-profile effort for deeper cooperation between the world’s two largest […]

September 20, 2018 | By | Reply More
Foreign, Korean investors duke it out over Samsung Electronics

Foreign, Korean investors duke it out over Samsung Electronics

The Samsung exhibition booth at the IFA trade show in Berlin. (Reuters pic) SEOUL: South Korea’s individual investors are emerging as staunch defenders of Samsung Electronics Co. against bearish institutional Korean firms and foreign sellers as the tech giant faces an uncertain outlook. Overseas stock pickers and South Korean institutions have sold almost a combined […]

September 19, 2018 | By | Reply More
China’s Tencent Music seeks US$2 billion in US IPO

China’s Tencent Music seeks US$2 billion in US IPO

Visitors use their smartphones underneath the logo of Tencent at the Global Mobile Internet Conference in Beijing May 6, 2014. (Reuters pic) HONG KONG: Tencent Music Entertainment Group, China’s biggest music-streaming company, is seeking to raise about US$2 billion in a US listing, according to three people close to the deal, down from the up […]

September 19, 2018 | By | Reply More
Hyundai signs deal to sell 1,000 hydrogen-powered trucks in Switzerland

Hyundai signs deal to sell 1,000 hydrogen-powered trucks in Switzerland

A car dealer stands in front of the logo of Hyundai Motor at its dealership in Seoul, South Korea, April 25, 2016. (Reuters pic) SEOUL: Hyundai Motor said on Wednesday it will sell 1,000 hydrogen-powered trucks in Switzerland over the next five years through a new tie-up, betting the vehicles could beat battery-powered models sold […]

September 19, 2018 | By | Reply More