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Oil prices fall on rise in U.S. drilling, strong dollar

Oil prices fall on rise in U.S. drilling, strong dollar

Since oil is traded in dollar, a stronger greenback makes it more expensive for countries using other currencies at home to purchase fuel, potentially undermining demand. SINGAPORE: Oil prices fell early on Monday, pulled down by a rising rig count in the United States, a strong dollar and record OPEC-output which comes amid slowing global […]

October 17, 2016 | By | Reply More
Japan manufacturers’ mood up, service-sector’s down in patchy recovery

Japan manufacturers’ mood up, service-sector’s down in patchy recovery

Survey also found manufacturers’ sentiment is expected to tumble to zero over the next three months, although non-manufacturers are seen rebounding. TOKYO: Japanese manufacturers’ confidence rose for a second straight month to a half-year high in October, a Reuters poll showed, while sentiment in the services sector hit a 3 1/2-year low – highlighting the […]

October 17, 2016 | By | Reply More
Booming property auctions lift Brexit gloom in British real estate

Booming property auctions lift Brexit gloom in British real estate

Pound’s slump has attracted more opportunistic overseas buyers, with investors from Hong Kong, China and South Africa taking the place of Greeks and Italians who bought UK real estate during the euro zone crisis four years ago. LONDON: Commercial property auctions are proving an unlikely bright spot in Britain’s real estate market where a steep […]

October 17, 2016 | By | Reply More
Goldman Sachs vindicated but bruised in court battle with Libyan fund

Goldman Sachs vindicated but bruised in court battle with Libyan fund

Goldman contended that it was always clear the two were dealing with each other as commercial counterparties, and that it had maintained an arm’s length relationship with its client. LONDON: The outcome of a two-and-a-half-year legal battle between Goldman Sachs and Libya’s $67 billion sovereign fund is a triumph for the Wall Street giant, which […]

October 17, 2016 | By | Reply More
Amid fried chicken craze, foreign firms ruffle Korean feathers

Amid fried chicken craze, foreign firms ruffle Korean feathers

Chimaek stores now dot Korea and their ubiquitous delivery services shuttle freshly fried chicken and beer to homes, offices and picnics. SEOUL: Don’t count your chickens before they hatch. Global poultry producers hoping to cash in on South Korea’s craze for fried chicken and beer face a market crowded with local birds that have clipped […]

October 16, 2016 | By | Reply More
ZTO Express eyes largest Chinese company US IPO since Alibaba

ZTO Express eyes largest Chinese company US IPO since Alibaba

Sources close to ZTO says the company was eyeing a US listing for a faster completion and to make it easier for existing shareholders to monetizes their stakes. BEIJING: Logistics company ZTO Express has set terms for what could be the largest USinitial public offering this year and also the biggest by a Chinese company […]

October 16, 2016 | By | Reply More
Watchdog says about 15 Swiss banks in money laundering ‘red zone’

Watchdog says about 15 Swiss banks in money laundering ‘red zone’

In addition to investigations linked to 1MDB and a separate scandal involving Brazil’s state-controlled oil producer Petrobras, FINMA is investigating an unnamed Swiss bank in relation to FIFA. GENEVA: Roughly 15 Swiss banks are in a “red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in […]

October 16, 2016 | By | Reply More
Modi hosts BRICS leaders amid bloc’s economic woes

Modi hosts BRICS leaders amid bloc’s economic woes

India by contrast is now the world’s fastest-growing major economy in an otherwise gloomy environment and its GDP is expected to grow 7.6 percent in 2016–17. GOA: Indian Prime Minister Narendra Modi will host leaders of the BRICS emerging powers on Sunday at a summit seeking to boost trade ties and help overcome the bloc’s […]

October 16, 2016 | By | Reply More
Dollar rises as US data backs December rate hike view

Dollar rises as US data backs December rate hike view

The US retail sales data, which showed a 0.6 percent rise last month after declining 0.2 percent in August, supported the dollar’s gains. NEW TORK: The dollar on Friday posted its best weekly performance in more than seven months after strong US retail sales and producer prices data for September reinforced expectations the Federal Reserve […]

October 16, 2016 | By | Reply More
US sees no currency manipulation, adds Switzerland to watch list

US sees no currency manipulation, adds Switzerland to watch list

The statement was a stark contrast to Republican presidential candidate Donald Trump’s threats to declare China a currency manipulator if he is elected. NEW YORK: The US Treasury said on Friday that none of the United States’ major trading partners is manipulating its currency to gain advantage for its exports, a stark contrast to Republican […]

October 16, 2016 | By | Reply More