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Nikkei drops sharply on global risk worries

Nikkei drops sharply on global risk worries

Pedestrians walk past an electronic stock board outside a securities firm in Tokyo. (Bloomberg pic) TOKYO: Tokyo stocks dropped sharply in Tuesday morning trade with investors concerned by an array of geopolitical risks and cautious ahead of corporate earnings season. The Nikkei 225 index was down 2.19% or 494.77 points at 22,120.05 at the break, […]

October 23, 2018 | By | Reply More
Rise, fall and suspense: Bitcoin’s wild first decade

Rise, fall and suspense: Bitcoin’s wild first decade

A bitcoin logo sits on a power unit supplying cryptocurrency mining machines at the SberBit mining ‘hotel’ in Moscow. (Bloomberg pic) LONDON: From its birth in an anonymous, academic style paper to one of the world’s most volatile and closely watched financial instruments, bitcoin has lived through a tumultuous first 10 years. Here is a […]

October 23, 2018 | By | Reply More
Temasek’s Vertex invests in Binance to expand in Singapore

Temasek’s Vertex invests in Binance to expand in Singapore

Binance founder and CEO Zhao Changpeng. (Bloomberg pic) SINGAPORE: Vertex Ventures, the venture capital arm of Temasek Holdings Pte, said it made an investment in digital asset trading platform operator Binance to develop a fiat-to-cryptocurrency exchange in Singapore. The amount of the investment by Singapore’s state investment firm wasn’t disclosed. Binance, one of the world’s […]

October 23, 2018 | By | Reply More
China’s Uber for trucks is said close to up to US$1 billion round

China’s Uber for trucks is said close to up to US$1 billion round

Trucks sit idle in a parking lot at a logistics park in Chengdu. (Bloomberg pic) HONG KONG: Full Truck Alliance Group is close to securing as much as US$1 billion (RM4.16 billion) in new funds to replenish its war chest and jumpstart an expansion into driverless technology, according to people familiar with the matter. China’s […]

October 23, 2018 | By | Reply More
Ringgit opens lower amid negative global uncertainties

Ringgit opens lower amid negative global uncertainties

KUALA LUMPUR: The ringgit opened marginally lower against the US dollar this morning as negative sentiment clouded demand for the currency, said a dealer. At 9am, the ringgit was traded at 4.1595/1625 versus the greenback from 4.1590/1620 on Monday. Oanda Head of Trading Asia-Pacific Stephen Innes said uncertain global risks, slippery oil prices and pre-budget […]

October 23, 2018 | By | Reply More
Bursa opens lower on external development woes

Bursa opens lower on external development woes

KUALA LUMPUR: Share prices on Bursa Malaysia opened lower and slipped further thereafter this morning as buying sentiment was pressured by unfavourable external developments. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.18 points lower at 1,719.29 from yesterday’s close of 1,722.47. The index opened 0.97 of-a-point lower at 1,721.5. In a […]

October 23, 2018 | By | Reply More
Oil steady as Saudi pledges to play ‘responsible role’ in market

Oil steady as Saudi pledges to play ‘responsible role’ in market

Towers stand at the under-construction deep oil processing and refining complex at the Naftna Industrija Srbija AD oil refinery in Pancevo, Serbia. (Bloomberg pic) SINGAPORE: Oil prices were steady on Tuesday as Saudi Arabia pledged to play a “responsible role” in energy markets, although sentiment remained nervous in the run-up to US sanctions against Iran’s […]

October 23, 2018 | By | Reply More
Pound’s Brexit swing threatens to rip up BOE’s inflation outlook

Pound’s Brexit swing threatens to rip up BOE’s inflation outlook

LONDON: The pound’s inevitable sharp move on the final Brexit outcome will have big implications for Bank of England policy. Exchange-rate swings could push inflation up to almost 3% or slow it to well below the 2% target by early 2020, according to calculations by Bloomberg Economics. The direction will be determined by whether the […]

October 22, 2018 | By | Reply More
Thanks to trade war, Southeast Asia has an investment boom

Thanks to trade war, Southeast Asia has an investment boom

A worker loads circuit boards into a machine for quality control at a KCE Electronics Pcl factory in Bangkok. (Bloomberg pic) MANILA: Southeast Asia is seeing a boom in foreign direct investment as the intensifying trade war between the US and China prompts companies to shift production to the region. Vietnam saw manufacturing inflows jump […]

October 22, 2018 | By | Reply More
Aston Martin considers flying in components, changing ports to handle Brexit

Aston Martin considers flying in components, changing ports to handle Brexit

Aston Martin (AFP pic) LONDON: Aston Martin is considering flying in car components and moving more parts through UK ports other than Dover to avoid possible border friction after Britain leaves the European Union, its boss told Reuters. Chief Executive Andy Palmer said changing to alternative ports or flying in parts would add costs compared […]

October 22, 2018 | By | Reply More