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Dollar clings on above four-month low versus yen; eyes on North Korea tensions

Dollar clings on above four-month low versus yen; eyes on North Korea tensions

Heightened tensions between the United States and North Korea, which triggered falls in riskier assets last week, are seen likely to remain a focal point for markets in the near term. SINGAPORE: The dollar edged higher against the yen on Monday, trading above last week’s near 4-month low, with rising tensions between the United States […]

August 14, 2017 | By | Reply More
UK employers see measly pay growth ahead, companies turn gloomy

UK employers see measly pay growth ahead, companies turn gloomy

Respondents also cited uncertainty over Brexit, a higher minimum wage and costs related to the introduction of automatic pension enrolment as weighing on their pay decisions. LONDON: British employers expect to raise pay only minimally over the next 12 months despite hiring more staff, a survey showed, suggesting the Bank of England is unlikely to […]

August 14, 2017 | By | Reply More
Oil markets steady as strong demand is met by ample supplies

Oil markets steady as strong demand is met by ample supplies

U.S. energy companies added oil rigs for a second time in the last three weeks, extending a 15-month drilling recovery, but the pace of additions has slowed in recent months as firms cut spending plans in reaction to declining crude prices. SINGAPORE: Oil prices were steady early on Monday, supported by strong demand and falling […]

August 14, 2017 | By | Reply More
As Thailand’s corporate cash pile swells, investors grow restless

As Thailand’s corporate cash pile swells, investors grow restless

Thailand’s economic growth of 3.6% is a laggard in Southeast Asia. Domestic investment is slowing down due to excess factory capacity and weak demand, while outbound M&A investment by Thai companies is falling sharply. BANGKOK: Thai companies have accumulated a record $34 billion in cash, prompting some investors to demand companies from oil producers to […]

August 14, 2017 | By | Reply More
China a sweet spot for US companies’ earnings in second quarter

China a sweet spot for US companies’ earnings in second quarter

Caterpillar Inc, a bellwether for industrial demand in China and beyond, reported its sales in Asia-Pacific rose 25% in the second quarter – thanks to China. SHANGHAI: Trade tensions between Washington and Beijing may be running high but Corporate America is finding China to be a reliable source of profit growth this year. Whether they […]

August 14, 2017 | By | Reply More
Japan economy posts longest expansion in over a decade

Japan economy posts longest expansion in over a decade

The world’s number three economy has been picking up steam, with investments linked to the Tokyo 2020 Olympics also giving growth a boost. The labour market is tight and business confidence is high. TOKYO: Japan’s economy grew 1.0%  in the April-June period, notching up its sixth straight quarter of growth and its longest economic expansion […]

August 14, 2017 | By | Reply More
Arab bloc won’t discriminate against US firms in Qatar rift

Arab bloc won’t discriminate against US firms in Qatar rift

The European Union has been given similar “official … verbal assurances” by the UAE. DUBAI: Four Arab countries that imposed sanctions on Qatar have told the United States that US companies doing business with them would not be punished for also working with Doha, four sources with knowledge of the matter said. Foreign firms have […]

August 14, 2017 | By | Reply More
Bags of cash: how money launderers used Commonwealth Bank of Australia

Bags of cash: how money launderers used Commonwealth Bank of Australia

AUSTRAC’s lawsuit against CBA asserts that, in total, A$17.7 million was deposited at the bank from February to August 2015 on behalf of a company identified in the earlier criminal case as CC&B. SYDNEY: In a run-down mall in one of Sydney’s biggest Chinese neighborhoods in 2015, 29-year-old Jizhang Lu showed up at the top-floor […]

August 13, 2017 | By | Reply More
North Korea factories humming with ‘Made in China’ clothes, traders say

North Korea factories humming with ‘Made in China’ clothes, traders say

Chinese suppliers send fabrics and other raw materials required for manufacturing clothing to North Korean factories across the border where garments are assembled and exported. DANDONG, CHINA: Chinese textile firms are increasingly using North Korean factories to take advantage of cheaper labor across the border, traders and businesses in the border city of Dandong told […]

August 13, 2017 | By | Reply More
Britons should be given second Brexit vote, says former foreign minister

Britons should be given second Brexit vote, says former foreign minister

Foreign minister under a Labour government between 2007 and 2010, called Brexit an “unparalleled act of economic self-harm” and said there should be another public vote once the final terms of Britain’s exit are known. LONDON: Former British foreign minister David Miliband called on Saturday for voters to be given a second referendum on whether […]

August 13, 2017 | By | Reply More