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China, voracious buyer of foreign agricultural land

China, voracious buyer of foreign agricultural land

BEIJING: A Chinese tycoon’s purchase of vast wheat fields in France highlights China’s increasing acquisition of foreign farmland as the Asian giant seeks to keep up with its massive population’s growing appetite. With 1.4 billion mouths to feed — one-fifth of the world’s population — but less than 10% of the planet’s arable land, China […]

February 25, 2018 | By | Reply More
Saudi oil minister hopes OPEC, allies can ease output curbs in 2019

Saudi oil minister hopes OPEC, allies can ease output curbs in 2019

NEW DELHI: Saudi Arabia hopes OPEC and its allies will be able to relax production curbs next year and create a permanent framework to stabilise oil markets after the current supply cut deal ends this year, its oil minister said on Saturday. The Organization of the Petroleum Exporting Countries is reducing output by about 1.2 […]

February 25, 2018 | By | Reply More
New US tax law brings Buffett’s firm US$29 billion

New US tax law brings Buffett’s firm US$29 billion

NEW YORK: Berkshire Hathaway, the holding company of US billionaire investor Warren Buffett, received a stunning US$29 billion last year from the US government, thanks to a new tax law that massively lowered corporate tax rates. In his much-anticipated annual letter to shareholders, Buffett explained that the company’s net gain of US$65.3 billion in 2017 […]

February 25, 2018 | By | Reply More
China cuts banking red tape to rally foreign investment

China cuts banking red tape to rally foreign investment

Foreign banks will now only need to report their services to authorities rather than obtaining approval in advance. BEIJING: China’s banking regulator has introduced steps to cut the red tape for foreign banks, state media agency Xinhua said on Saturday, as part of the government’s ongoing effort to promote investment in the country’s fast-growing financial […]

February 25, 2018 | By | Reply More
Volkswagen settles US emissions lawsuit just before trial

Volkswagen settles US emissions lawsuit just before trial

The suit was dismissed by Fairfax County, Virginia, Circuit Court Chief Judge Bruce D White on agreement of the parties. volksVIRGINIA: Volkswagen AG’s US unit agreed to settle a lawsuit over the company’s marketing of clean-emissions vehicles, resolving a fight over consumer fraud claims days before it was scheduled to go to trial. The suit […]

February 25, 2018 | By | Reply More
With US$116 billion cash, Buffett says Berkshire needs ‘huge’ deals

With US$116 billion cash, Buffett says Berkshire needs ‘huge’ deals

Buffett ssys finding things to buy at a “sensible purchase price” has become a challenge. NEW YORK: Warren Buffett on Saturday lamented his inability to find big companies to buy and said his goal is to make “one or more huge acquisitions” of non-insurance businesses to bolster results at his conglomerate Berkshire Hathaway Inc. In […]

February 25, 2018 | By | Reply More
Geely says won’t buy more Daimler shares ‘for time being’

Geely says won’t buy more Daimler shares ‘for time being’

FRANKFURT: China’s Zhejiang Geely Holding does not plan to buy more Daimler shares “for the time being,” it said on Saturday, after its chairman Li Shufu disclosed he had a 9.69% stake in the German carmaker. “Daimler is an outstanding company with a first-class management. It will be an honour to support this unique team […]

February 24, 2018 | By | Reply More
Geely buying US$9 billion stake in Daimler

Geely buying US$9 billion stake in Daimler

The founder of Chinese manufacturer Zhejiang Geely Holding Group Co has acquired a stake worth about US$9 billion (RM35 billion) in Daimler AG to become the largest investor in the German automaker. Daimler confirmed the holding in a regulatory filing, shortly after Bloomberg News first reported that Geely has been building up a position of […]

February 24, 2018 | By | Reply More
FGV says Q4 net profit fell by a third

FGV says Q4 net profit fell by a third

KUALA LUMPUR: Felda Global Ventures Bhd, the world’s third-biggest palm plantation operator, on Friday said net profits for the last quarter fell by a third year-on-year. FGV saw net profits of RM76.6 million (US$19.62 million) for the quarter that ended in December, down from RM112 million the previous year, it said in a local stock […]

February 23, 2018 | By | Reply More
Media Prima posts fifth consecutive loss for Q4 2017

Media Prima posts fifth consecutive loss for Q4 2017

Media giant says costs related to impairments and downsizing of its workforce contributed to the decline. Blogspot pic PETALING JAYA: Media Prima has continued its downward streak, posting a fifth consecutive quarterly loss with an income deficit of RM378.2 million against a net profit of RM5 million in its fourth quarter ended Dec 31 last […]

February 23, 2018 | By | Reply More