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Brazil’s farmers dump sugar for soy as trade war boosts Chinese demand

Brazil’s farmers dump sugar for soy as trade war boosts Chinese demand

Shifting trade flows are redefining the Brazilian landscape, spurring farmers to align their crops with Chinese appetites – soy plantings have expanded by 2 million hectares within two years. A corn crop at Cercado Grande farm, where expansion of grains cultivation led the farm to scrap a contract with a sugar mill for cane planting […]

August 14, 2018 | By | Reply More
South Korea bans recalled BMWs from streets pending safety inspections

South Korea bans recalled BMWs from streets pending safety inspections

Once the ban comes into effect, drivers are forbidden from driving their vehicles unless they are taking them to be tested. A BMW sedan is displayed for sale at a BMW dealership in Goyang, north of Seoul, June 12, 2013. (Reuters pic) SEOUL: South Korea Tuesday temporarily banned from the streets all recalled BMW cars […]

August 14, 2018 | By | Reply More
Indonesia president to hold cabinet meeting on foreign exchange strategy

Indonesia president to hold cabinet meeting on foreign exchange strategy

The meeting to discuss how to bolster foreign exchange reserves is due to be held at 1.30 pm on Tuesday. Indonesian President Joko Widodo. (Reuters pic) JAKARTA: Indonesian President Joko Widodo will hold a cabinet meeting on Tuesday to discuss foreign exchange strategy, a finance ministry spokesman said, a day after the rupiah plunged more […]

August 14, 2018 | By | Reply More
Tencent-backed Chinese EV maker seeks $1.8 billion US IPO

Tencent-backed Chinese EV maker seeks $1.8 billion US IPO

NIO Inc applied to list its American depositary shares on the New York Stock Exchange under the symbol NIO, and the US$1.8 billion registration amount is a placeholder to calculate filing fees. A NIO Eve autonomous concept electric car. (Bloomberg pic) BEIJING: NIO Inc, the electric-car maker backed by technology giant Tencent Holdings Ltd, filed […]

August 14, 2018 | By | Reply More
Musk says working with Silver Lake, Goldman on Tesla bid

Musk says working with Silver Lake, Goldman on Tesla bid

Musk, who is still looking for funding for the plan, also said law firms Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson would be legal advisers on the plan. Tesla CEO Elon Musk at a press conference at the Kennedy Space Center in Cape Canaveral, Florida, U.S., February 6, 2018. (Reuters pic) BENGALURU: […]

August 14, 2018 | By | Reply More
Bursa Malaysia extends losses to open lower

Bursa Malaysia extends losses to open lower

Public Investment Bank Bhd said the FBM KLCI is expected to experience a moderate pullback above the support level of 1,762, which is deemed healthy should the dampened sentiment persist. Bursa Malaysia. (Reuters pic) KUALA LUMPUR: Bursa Malaysia extended losses from yesterday to open lower on continued selling pressure, as investor sentiment remained bearish in […]

August 14, 2018 | By | Reply More
Ringgit lower against US dollar for second consecutive day

Ringgit lower against US dollar for second consecutive day

The dealer said an increase in oil prices would cushion any impact on the ringgit. Ringgit Malaysia. (Bernama pic) KUALA LUMPUR: The ringgit was lower for the second consecutive day today against the US dollar as investors moved to a safer haven, amid geopolitical concerns over Turkey that saw its currency, the lira tumble. At […]

August 14, 2018 | By | Reply More
China to ‘comprehensively’ assess new US defence act

China to ‘comprehensively’ assess new US defence act

The National Defense Authorization Act strengthens the Committee on Foreign Investment in the United States (CFIUS), which reviews proposed foreign investments to weigh whether they threaten national security. U.S. President Donald Trump holds up the National Defense Authorization Act after signing it in front of soldiers from the U.S. Army’s 10th Mountain Division at Fort […]

August 14, 2018 | By | Reply More
Bloomberg targets Big Tobacco’s “underhanded tactics”

Bloomberg targets Big Tobacco’s “underhanded tactics”

Big Tobacco’s tactics include suing governments seeking to implement plain packaging for cigarettes, sponsoring cultural events or sports teams, and challenging the legality of smoke-free zones. Cigarettes. (Bloomberg pic) PARIS: Billionaire former New York mayor Michael Bloomberg on Tuesday gave a trio of anti-tobacco crusaders US$20 million to up their game against an industry aggressively marketing […]

August 14, 2018 | By | Reply More
Turkey fails to halt lira carnage, Erdogan slams ‘stab in back’

Turkey fails to halt lira carnage, Erdogan slams ‘stab in back’

A dispute between Turkey and the United States has hammered the lira and also raised questions over the future partnership between Washington and Ankara. President Recep Tayyip Erdogan has accused Washington of an “underhand plot” to destabilise Turkey’s economy. (AFP pic) ISTANBUL: Turkey’s central bank on Monday failed to halt the precipitous plunge of the […]

August 13, 2018 | By | Reply More