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Miner BHP to pay US$390 million in Australian tax dispute over Singapore hub

Miner BHP to pay US$390 million in Australian tax dispute over Singapore hub

Canberra has sought to crack down on tax avoidance by multinationals, including BHP, by introducing new laws. (AFP pic) MELBOURNE: BHP on Monday said it had signed an agreement with Australia’s tax authorities to settle a long-running dispute over the global miner’s operations in Singapore. As part of the deal, the world’s largest miner is […]

November 19, 2018 | By | Reply More
Asian markets mostly up as investors weigh China-US trade row

Asian markets mostly up as investors weigh China-US trade row

The APEC gathering ended without a communique for the first time in its history after a spat between Mike Pence and Xi Jinping (AFP pic) HONG KONG: Asian markets mostly rose Monday but investors were keeping a close eye on the China-US trade row after Donald Trump’s optimistic comments on a possible deal were offset […]

November 19, 2018 | By | Reply More
Bursa Malaysia continues to trend lower at mid-afternoon

Bursa Malaysia continues to trend lower at mid-afternoon

Bursa Malaysia (Bernama pic) KUALA LUMPUR: Bursa Malaysia continued to trend lower at mid-afternoon today, dragged down mainly by selling in selected blue-chips, led by MAHB and TM. At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,702.18, down 4.20 points from Friday’s close of 1,706.38. The index opened 6.43 points stronger […]

November 19, 2018 | By | Reply More
Xiaomi has chance to justify lofty valuation after 23% slide

Xiaomi has chance to justify lofty valuation after 23% slide

Founder Lei Jun describes Xiaomi as an innovation-driven internet company, yet that’s only accounted for an average 9.2% of total revenue in the past two quarters. (Bloomberg pic) SHANGHAI: Xiaomi Corp trades at valuation multiples similar to internet giants Tencent Holdings Ltd and Alibaba Group Holding Ltd. Whether that’s justified could become clearer when the […]

November 19, 2018 | By | Reply More
Bursa opens higher in line with regional peers

Bursa opens higher in line with regional peers

KUALA LUMPUR: Bursa Malaysia extended last Friday’s gains to open higher today on continued buying interest and in line with its regional peers, while tracking Wall Street’s bullish run. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.04 points to 1,711.42 from Friday’s close of 1,706.38, after opening 6.43 points stronger at […]

November 19, 2018 | By | Reply More
Ringgit opens higher amid sharper oil prices

Ringgit opens higher amid sharper oil prices

KUALA LUMPUR: The ringgit was slightly higher against the US dollar this morning as demand for the local note improved on the back of stronger global oil prices. At 9.00am, the ringgit stood at 4.1850/1900 versus the US dollar from 4.1900/1940 recorded at 6 pm on Friday. At 9.18am, the benchmark Brent crude was at […]

November 19, 2018 | By | Reply More
Asia shares edge ahead, Fed caution drags on dollar

Asia shares edge ahead, Fed caution drags on dollar

Pedestrians walk past an electronic stock board outside a securities firm in Tokyo. (Bloomberg pic) SYDNEY: Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar. MSCI’s […]

November 19, 2018 | By | Reply More
US stock futures slip with Aussie on trade woes

US stock futures slip with Aussie on trade woes

NEW YORK: US stock-index futures and the Australian dollar fell as investors weighed US-China ructions that showed no sign of improvement over the weekend. Equities in Asia looked set to kick off the week in mixed fashion. Tension between Chinese President Xi Jinping and US Vice-President Mike Pence quashed optimism that relations would improve at […]

November 18, 2018 | By | Reply More
Nearly half of German firms expect growing trade strains with US

Nearly half of German firms expect growing trade strains with US

US President Donald Trump and European Commission President Jean-Claude Juncker struck an agreement in July that should shield European firms from US auto tariffs while the two sides continue to work on trade issues. (Bloomberg pic) BERLIN: 44% of German firms expect a further escalation of trade tensions between Europe and the United States, which […]

November 18, 2018 | By | Reply More
Pound outlook most bearish since Brexit vote as May faces crisis

Pound outlook most bearish since Brexit vote as May faces crisis

The premium to buy put options on the currency relative to calls is the steepest since June 2016. (Bloomberg pic) LONDON: Investors are the most bearish on the pound since the U.K. voted to leave the European Union as markets brace for the possibility of a no-confidence vote on Prime Minister Theresa May. The premium […]

November 18, 2018 | By | Reply More