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Apple sets record with C$2.5 billion Maple bond market issue

Apple sets record with C$2.5 billion Maple bond market issue

The deal comes as the Maple bond market, which had previously been dominated by foreign banks, attracts more issuance from companies. TORONTO: Apple Inc priced its C$2.5 billion ($1.96 billion) in seven-year bonds in a Canadian-dollar-denominated issue, one of the joint book-running managers said on Tuesday, setting a record amount for an issuer in the […]

August 16, 2017 | By | Reply More
AIG shops $2 billion death benefits portfolio

AIG shops $2 billion death benefits portfolio

AIG, the largest commercial insurer in the United States and Canada, is working with investment bankers at Goldman Sachs Group Inc to unload the assets, said the sources, who were not authorized to discuss the negotiations publicly. NEW YORK: American International Group Inc wants to sell a $2 billion portfolio of life settlements that would […]

August 16, 2017 | By | Reply More
Dollar hits highs after US retail sales jump

Dollar hits highs after US retail sales jump

The strong U.S. data and the “specter of cooler heads prevailing on the geopolitical front” were what pushed the dollar to its highs, said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. NEW YORK: The dollar rose to its highest level against a basket of major currencies in nearly three weeks […]

August 16, 2017 | By | Reply More
IMF: China’s debt on a ‘dangerous trajectory’

IMF: China’s debt on a ‘dangerous trajectory’

While the country’s near-term growth outlook firmed up, it is at the cost of “further large and continuous increases in private and public debt, and thus increasing downside risks in the medium term,” the report said. BEIJING: China’s massive debt is on a “dangerous” path, raising the risk of a sharp slowdown in growth, the […]

August 15, 2017 | By | Reply More
TNB undertakes RM339 mil solar project in Kuala Langat

TNB undertakes RM339 mil solar project in Kuala Langat

The 50-megawatt solar plant, the largest in Malaysia, will begin commercial operations in November 2018. KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has secured RM339 million financing for its first large-scale solar (LSS) project in Malaysia. It is located on a 97-hectare site in Mukim Tanjung 12, Kuala Langat, Selangor. The national utility corporation is undertaking […]

August 15, 2017 | By | Reply More
Petronas expects balance in oversupplied LNG market in 2023

Petronas expects balance in oversupplied LNG market in 2023

CEO Wan Zulkiflee Wan Ariffin says Petronas is now looking for new buyers for its LNG output, beyond its long-time customers in Japan and South Korea. KUALA LUMPUR: State energy company Petroliam Nasional Berhad expects the global liquefied natural gas (LNG) market to remain oversupplied until as late as 2023, its chief executive said today. […]

August 15, 2017 | By | Reply More
Media Prima planning ‘to trim’ workforce again

Media Prima planning ‘to trim’ workforce again

CIMB analyst says Media Prima, at a briefing of its first half financial results, informed that, due to lower revenues, it is considering various cost-cutting measures, including trimming its workforce. KUALA LUMPUR: Media Prima Bhd – the group behind media outlets such as The New Straits Times and TV3 – is considering trimming its workforce […]

August 15, 2017 | By | Reply More
Australia’s biggest bank reveals further woes

Australia’s biggest bank reveals further woes

Australia’s largest firm by market capitalisation, has now said it was working to remedy other errors worth millions of dollars linked to customers’ insurance, transactions, and staff pension payments. SYDNEY: Australia’s biggest bank has admitted failures costing staff and customers millions of dollars as the troubled lender faces legal action over alleged breaches of money […]

August 15, 2017 | By | Reply More
Indonesia plans to cut domestic sedan sales tax, aims to buoy production

Indonesia plans to cut domestic sedan sales tax, aims to buoy production

Industry minister Airlangga Hartanto said by cutting taxes, the government hopes to get carmakers to produce more sedans, not only for the domestic market but also for exports. JAKARTA: Indonesia plans to lower taxes on domestic sedan sales in a bid to promote the country, the biggest car market in Southeast Asia, as a manufacturing […]

August 15, 2017 | By | Reply More
Oil prices steady after overnight tumble on dollar strength, China concerns

Oil prices steady after overnight tumble on dollar strength, China concerns

Analysts said the drop was steeper than expected, exacerbating concerns that a glut of refined fuel products could weaken Chinese demand for oil. SINGAPORE: Oil prices steadied in early Asian trade on Tuesday after sharp falls the session before to the lowest in about three weeks as a stronger US dollar and a drop in […]

August 15, 2017 | By | Reply More