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CIMB, Ripple partner in cross-border payments

CIMB, Ripple partner in cross-border payments

CIMB will use Ripple’s technology in its SpeedSend remittance service. (Bloomberg pic) KUALA LUMPUR: CIMB Group Holdings Bhd is signing on to the cross-border payments network run by blockchain technology firm Ripple, the two companies said Thursday. Ripple’s technology will be used in CIMB’s SpeedSend remittance product, according to a joint press release. SpeedSend is […]

November 15, 2018 | By | Reply More
Bursa opens lower for 4th consecutive day

Bursa opens lower for 4th consecutive day

KUALA LUMPUR: Bursa Malaysia opened in the red for the fourth consecutive day this week, tracking the weak performance of regional markets and amid cautious investor sentiment. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 1.89 points to 1,686.52 from Wednesday’s close of 1,688.41, after opening 1.98 points easier at 1,686.43 today. […]

November 15, 2018 | By | Reply More
Ringgit opens higher amid profit taking

Ringgit opens higher amid profit taking

KUALA LUMPUR: The ringgit was higher against the US dollar this morning as traders take profit against the greenback. At 9.06am, the ringgit stood at 4.1930/1970 versus the US dollar from 4.1945/1975 at close yesterday. A dealer said the weakness in the US dollar was temporary and the greenback is poised to be higher, especially […]

November 15, 2018 | By | Reply More
Early Wall Street rally evaporates, sending US stocks lower

Early Wall Street rally evaporates, sending US stocks lower

Another attempted Wall Street comeback fizzled with an early rally losing momentum and sending the major indices lower for the fourth session in a row. (AFP pic) WASHINGTON: Another attempted Wall Street comeback fizzled on Wednesday, with an early rally losing momentum and sending the major indices lower for the fourth session in a row. […]

November 15, 2018 | By | Reply More
Global stocks battered as markets face more uncertainty

Global stocks battered as markets face more uncertainty

A monitor displays stock market information on the floor of the New York Stock Exchange. (Bloomberg pic) NEW YORK: Another day of bad news buffeted global equities on Wednesday, sending major indices lower in Asia, Europe and New York. Wall Street attempted a rally following favourable US inflation numbers but it fizzled as markets were […]

November 15, 2018 | By | Reply More
Uber loss tops US$1 billion as it seeks to diversify

Uber loss tops US$1 billion as it seeks to diversify

Uber has taken to sharing quarterly earnings figures as it prepares for a keenly-anticipated debut on the stock market next year. (Bloomberg pic) SAN FRANCISCO: Ride-share company Uber on Wednesday said that its net loss topped a billion dollars in the recently ended quarter as it pumped money into bikes, scooters, freight and food delivery. […]

November 14, 2018 | By | Reply More
Energy drives US consumer prices to 9-month high in October

Energy drives US consumer prices to 9-month high in October

Rising gasoline prices boosted US CPI in October, but the annual rate actually slowed (AFP pic) WASHINGTON: US consumer inflation got a bump in October, as prices for gasoline and electricity shot up, rising along with the cost of shelter and medical care, the government reported Wednesday. The increase in overall consumer prices was the […]

November 14, 2018 | By | Reply More
IMF: No-deal Brexit would cost Britain 6% of GDP

IMF: No-deal Brexit would cost Britain 6% of GDP

  Leaving the European Union without a transitional trade deal would cost Britain about 6 per cent of GDP – roughly four years of economic growth – compared with staying in the bloc, the International Monetary Fund said on Wednesday. (AFP pic) LONDON: Leaving the European Union without a transitional trade deal would cost Britain […]

November 14, 2018 | By | Reply More
Tencent logs big profit rise despite China game crackdown

Tencent logs big profit rise despite China game crackdown

Tencent headquarters (Bloomberg pic) SHANGHAI: Chinese internet giant Tencent said Wednesday it posted a nearly 30% profit rise in the latest quarter, handily beating expectations as new video games already in the pipeline mitigated any impact from a government crackdown on the lucrative game sector. Shenzhen-based Tencent said net profit came in at 23.33 billion yuan […]

November 14, 2018 | By | Reply More
Credibility of China-backed trade deal at risk if talks drag on

Credibility of China-backed trade deal at risk if talks drag on

Singapore’s Prime Minister Lee Hsien Loong (AFP pic) SINGAPORE: A major China-backed trade deal is at risk of losing credibility if negotiations are further prolonged, Singapore’s prime minister said on Wednesday, as Beijing said talks on the deal this week were at a “critical moment.” The 10-member Association of Southeast Asian Nations (Asean) along with […]

November 14, 2018 | By | Reply More